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Using the arguments of Ludwig von Mises and Friedrich August von Hayek, I argue that private ownership solves the problem of corruption. Because private ownership discourages entrepreneurs from rent-seeking and because privately owned media provide quality information to citizens, the legal...
Persistent link: https://www.econbiz.de/10013132615
We present a model of parallel redistribution system to explain the problem of corruption. Within this model we synthesize both agency theory and rent-seeking. More precisely, we argue that the principal-agent theory has problems accounting for the environment in which the agents offering and...
Persistent link: https://www.econbiz.de/10013113439
Using the arguments of Ludwig von Mises and Friedrich August von Hayek, I argue that private ownership solves the economic problem of corruption. Since private ownership discourages entrepreneurs from rent-seeking, and privately owned media provide objective and unbiased information to citizens,...
Persistent link: https://www.econbiz.de/10013087752
Jaký je přínos historického příkladu pro pochopení ekonomických jevů? Ekonomové obecně aplikují metody přírodních věd. Ale ekonomie je společenská věda a pozorované ekonomické jevy jsou kvalitativně odlišné od pozorovaných jevů přírodních věd. Proto uplatnění...
Persistent link: https://www.econbiz.de/10013089996
Scholars making economic policy recommendations to resolve corruption problem use several approaches, the most dominant of which are the principal-agent and rent-seeking theories. In this paper, we argue that the principal-agent theory has problems accounting for the environment in which the...
Persistent link: https://www.econbiz.de/10013090395
Scholars making economic policy recommendations to resolve corruption problem use several approaches, the most dominant of which are the principal-agent and rent-seeking theories. In this paper, we argue that the principal-agent theory has problems accounting for the environment in which the...
Persistent link: https://www.econbiz.de/10013091062