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This paper provides estimates of the economic welfare effects of tobacco taxation in India, S.Africa, S.Korea, Japan and the European Union. It argues that past studies of the cost-benefits of smoking are flawed as they fail to net out Paretoirrelevant pecuniary externalities. It estimates...
Certain scarce resources seem indivisible, unlike, e.g., land and cattle. But some such resources can be, and have been, turned into private property. In offshore fishing grounds, individual tranferable quotas have been issued to fishing firms that have, as a result, become custodians of fish...
Many contributions explained in details the various benefits from private roads. Not only they stressed the possibility of such system, but also the functioning through different historical experiences. However, they put aside an important question: how should we proceed concretely in order to...
The deposit insurance (DI) makes the value of deposits independent from the behavior of other depositors or from the value of bank assets. Its existence induces a moral hazard which might threaten the stability of the banking system. The efficiency of the DI depends on the control of moral...
Specialists often maintain that Menger has been strongly influenced by Aristotles thought ideas.This paper shows that although using Aristotles categories and general framework there are some issues in which Mengers conclusions differs from Aristotles.This hint out that Mengers knowledge of...
This paper criticizes the so-called "libertarian" theses of American origin which promote maximalist liberal ideas. If we analyze the libertarian project seriously, we can conclude that its lure is minimal, even, and above all, from the perspective of the values of freedom which found it.Cet...
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