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,...

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...

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...

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...

Karel Engliš's teleology emphasizes realistic assumption of virtually acting man. Virtually acting man theoretical assumption is however quite contrary to the mathematical and statistical methods widely used in modern microeconomic analysis. In this paper, I argue that the evidence of...

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,...

The Czech version of this paper can be found at 'http://ssrn.com/abstract=2387418' http://ssrn.com/abstract=2387418The aim of the paper is to set the agency problem into a broad context of New Institutional Economics with an emphasis on historical connections. In the first section, I explain the...

I classify three possible interest group motives for the establishment of the Federal Reserve System. First, is a short description of the National Banking Era. I argue that while (i) the professional community quite truthfully recognized the problems with National Banking, motives of (ii) the...

I interpret the theory of entrepreneurial discovery from the perspective of the theory of property rights. I analyze pure entrepreneurial profit and the logical construction of the theory as an extension of neo-classical microeconomic analysis and I argue that the key motivation for...

What is corruption? The aim of this paper is to present and analyze selected theoretical definitions of corruption, to point out their implicit characteristics, and to incorporate these characteristics into a Misesian positive theoretical apparatus. Within this analysis, I argue that Ludwig von...