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Not content with justifying the idea of private property, I should like to make it appealing even to the most rabid partisans of public ownership. Frederic Bastiat (1850) The federal government’s ...
As the gains from privatization necessarily increase with the density ofusage ofthe commons, it is quite natural that wefind the movement to privatize public land holdings emerging, Privatization is...
Even the most die-hard supporters of Ronald Reagan are waking up to a very unpleasant fact: He has not cut the federal budget—in real or nominal terms—and there is little reason to suppose that he ...
In the span of 10 years since China opened her doors to the world, economic changes have taken place of a magnitude and speed that are simply awesome. Remembering what China was like a mere decade ...
Americans “discovered” privatization in the 1980s as their concern about the cost and adequacy of government programs increased. But deciding whether particular services should be provided by public...
A specter is haunting the world. It is the specter of bankrupt state-run pension systems. The pay-as-you-go pension system that has reigned supreme through most of this century has a fundamental fla...
Transacting in the marketplace can be a very costly activity. Economic growth, in part, depends upon the development of institutions that minimize the cost of exchange (Barzel 1982 and 1989). An imp...
At the University of Arizona, electronic trading (now commonly known as e-commerce) in the experimental laboratory began in 1976 when Arlington Williams conducted the initial experiments testing th...
Since the sudden demise of communism in the late 1980s, economists have regarded the transition from command to market economies in Central and Eastern Europe with intense interest. In addition to ...
A nation that seeks to fix the value of its currency relative to that of some other nation’s currency can do so in at least three different ways: it can assign responsibility to the central bank for...

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