Many scholars assert that the process of privatizing state-owned firms in Central and Eastern Europe has been a success because privatized firms are performing better than they did before. The assertion is an empty piece of poetry. To begin with, privately owned firms are more efficient than...

Professor Cohen presents and analyzes a taxonomy of the potential harms of human genetic “germline engineering.” Germline engineering is the process of “artificially” and purposefully changing the genes of an organism such that when it procreates the changes replicate themselves in the...

Open-access, common-pool resources, such as many fisheries, aquifers, oil pools, and the atmosphere, often require some type of regulation of private access and use to avoid wasteful exploitation. This paper summarizes the arguments and literature associated with this problem. The historical and...

Debt relationships are relationships of obligations. The paper analyses debt relationships in civil law and economic ethics as well as in theology. It starts from the German word for debt and guilt relationships Schuldverhältnisse. The German term Schuld does not distinguish between debt and...

This paper provides a detailed description of fiscal federal relations in Australian. The keystone to those relationships is the application by the Commonwealth Grants Commission of the principle of fiscal equalisation - that each State should be able to provide the same standard of services to...

Economic development is the result of hard work, discipline and frugality – qualities, which can be learned through an education process. This is the gist of Max Weber's writings on the development of capitalism, which I have modeled in this paper. The model shows how an educational sector...

The National Park System of Zimbabwe is a main attraction for foreign tourists and an important contributor to the economic well being of the country. It contains large numbers of elephants, lions and other types of magnificent African wildlife. The entrance and lodging fees currently charged of...

The article points out the limits of Austrian economics in so far as the passage from positive to normative economics is concerned. We propose a comparison with neoclassical economics and discuss the different theoretical solutions adopted by these two schools of thought in their legitimization...

Iran was a textbook example of economic success in the two decades prior to the advent of the Islamic Revolution in 1979. But she has turned into an example of economic failure ever since. This study finds that nearly half of the 11 percent difference in economic growth in the two periods can be...

Has deflation contributed to the long lasting stagnation of the Japanese economy? Could the Bank of Japan have stopped deflation by implementing a more expansionary monetary policy? Our tentative answers are probably not to the first question, and probably yes to the second question. We find...