One thing is true for most organizations, political and market entities or particular individuals. They do not like competition and most arguments for restricting it are mere rationalizations used to sell such restrictions as somehow socially advantageous.
More and more governments decide to bailout banks that got into trouble due to recent price changes in American real estate market (the so called “housing bubble burst”). Contrary to most commentators who write about economics I do not want to get into details of the situation. Lots of articles has already been written, more […]
Just for the record, as the economic blogosphere and mainstream media have already been commenting on this for hours: this year’s Nobel laureate in Economics is Paul Krugman, a scientist known mostly for his work on economic geography and foreign trade and also from his left-wing column in New York Times. His sharp public profile […]
In theory, politicians are administrators. They are like a company hired by owners of the building (the citizens) to take care about their estate. Their duty is to manage and repair infrastructure, keep streets clean and safe and represent the owners’ best interest abroad. But if they are only a hired administrative body, is it […]
It is a common idea that the state should be “in control” of the economy for the good of ordinary people, or consumers (or citizens). The problem with delegation of power, however, is that the institution to which the power to control is to be delegated needs to be controlled too. In this context the […]
From Wikipedia:
Referendum:
A referendum (plural referendums or referenda), ballot question, or plebiscite (from Latin plebiscita, originally a decree of the Concilium Plebis) is a direct vote in which an entire electorate is asked to either accept or reject a particular proposal. This may result in the adoption of a new constitution, a constitutional amendment, a law, the […]