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...

The Telecoms Boom and Bust 1996 to 2002 has had a significant impact on the structure of the Telecommunications Industry. During the boom it seemed as if new entrant telecoms operators, entering on the back of new technologies, might even replace the incumbent operators such as Telecom Italia,...

Beginning in 1989, the European Union started targeting its Structural Funds business incentives geographically to industrial areas that have been facing above average unemployment and industrial job loss. Although billions of euros have been invested in these Objective 2 areas, very little is...

The purpose of this paper is to introduce and adopt a generalised version of Roemer's (1998) Equality of Opportunity (EOp) framework for analysing optimal income taxation. EOp optimal tax rules seek to equalise income differentials arising from factors beyond the control of the individual....

Di recente l’analisi austriaca del ciclo economico è stata oggetto di rinnovato interesse: contrariamente alla maggior parte delle analisi tradizionali, infatti, la visione originaria di Mises non spiega il ciclo richiamandosi a shock esogeni o a illusioni di cui sarebbero vittime gruppi di...

The Misesian lesson in a transition framework leads to a number of questions about the very aims pursued by individuals as they switched from the communist regime to a so-called capitalist environment. According to the answers provided, one may then understand why so many candidates to...