Ten years ago Joe Salerno inherited the Mises Institute’s summer fellowship program from his predecessor, Jörg Guido Hülsmann.Generously funded by Peg Rowley, summer fellows are given time to study Austrian economics fi rsthand with some of the current masters. Not only is a sense of camaraderie inculcated amongst the participants, but they are also given access to the world’s best Austr…
Since 2007 the question of growth has plagued the British economy. Though, at the time of writing in the early summer of 2014, growth has returned, a pervasive anxiety about the solidity, stability and sustain- ability of that growth persists, even in the most hallowed of elite polit- ical circles. Thus, even the recently appointed Governor of the Bank of England, Mark Carney, is concerned that…
France has been widely acknowledged as the principal driving force behind European economic and monetary union (EMU). Every French president from Georges Pompidou onwards has placed the creation of EMU at the centre of France’s European policy. President François Mitterrand finally clinched the deal when, in December 1991, he secured German Chancellor Helmut Kohl’s agreement at the Maas…
I ended up working on European and international energy law issues more or less by coincidence. Having embarked on a career in general EU law, I worked on the first merchant infrastructure case under the (then) new EU regulatory frameworks for electricity and gas. Thinking that this was an interesting project, I decided to write an article explaining the regulatory considerations to be taken in…
The European Union (EU) is facing a fundamental crisis, which especially affects the countries that take part in the single currency, the euro. The group is usually referred to as the eurozone, and when the ministers of finance from these countries meet they are referred to as the Euro Group. This group has its own president, currently Jean-Claude Juncker from Luxembourg. It can be seen as a su…
When dealing with ambiguous terms, the first duty of a writer is definition. The words 'industrial revolution in small letters-usually refer to that complex of technological innovations which, by substituting machines for human skill and inanimate power for human and animal force, brings about a shift from handicraft to manufacture and, so doing, gives birth to a modern economy. In this sense…
This volume, the second in the series produced by the Columbia Program on Indian Economic Policies, turns to the analysis of the reforms from a differ- ent viewpoint than the first. It takes as its starting point the fact that while the reforms have undoubtedly delivered in terms of poverty reduction and associated social objectives, the impact has not been as substantial as it has been in othe…
The question may be asked, why is it important to discuss good govern- ance as a prerequisite for sustainable and environmentally friendly development? The answer to the above question lies in the historical experience of failure to achieve economic growth by many countries of Africa, Asia and Latin America in the past several decades. Since the end of World War II, the economic literature o…
European social democracy needs to be shaken out of the defensive posture to which it has shrunk for several years now. It should not be in this position at all. Inequality is again becoming a major issue; the power of large corporations is producing a growing number of problems for consumers, workers and citizens; the neglect of collective needs is producing frightening problems of environment…
The notion ‘International Economic Law’ encompasses a complex architecture of rules governing international economic relations and transboundary economic conduct by States, international organizations, and private actors. The term essen- tially refers to the regulation of cross-border transactions in goods, services, and capital, monetary relations and the international protection of inte…
Markets, technologies, and policies constantly evolve at different levels in various countries, and this has led us to analyse these aspects as the drivers of energy policies. All have a policy and regulatory impact on market structures, which further stimulates technological development. It is noteworthy that the causes of the energy transition may either stem from the state or from market for…
overall how societies are ‘energized’ is crucial for understanding how they work, how they are ‘powered’. this powering of societies depends upon systems of energy production, distribu- tion and consumption. these vary enormously, from muscle power, wood, wind, water and sun to coal, gas, oil, hydroelectric, geothermal and nuclear, from small-scale localized production to huge global …
The papers published in this volume commemorate Ralph Landau's many years of service to the National Academy of Engineering. Over almost two decades, Ralph Landau served the NAE as member of the council, officer of the Academy, and in a variety of capacities as a vigorous intellectual contributor to the Academy's program. Ralph Landau is an innovator who combines the characteristics of a person…
The overall aim of this book is to show how new technology (i.e. Infor- mation and Communications Technology (ICT)) is impacting on the shape and form of real estate in our towns and cities, and how it is influ- encing and is being influenced by other forces within what many commen- tators call the ‘new economy’, as part of an ‘information society’. UK private sector commercial prope…
This feature explores the operation of individual markets. Patterns of behavior in markets for specific goods and services offer lessons about the determinants and effects of supply and demand, market structure, strategic behavior, and government regulation. Suggestions for future columns and comments on past ones should be sent to James R. Hines Jr., c/o Journal of Economic Perspectives, D…
International capital mobility is today a concern that breeds broader social uncertainty because of unprecedented degrees of financial social- isation. Financial markets now attract a greater volume of savings than at any previous time in their history. Existing living standards are there- fore increasingly dependent upon the market environment continuing to function in the manner prescribed by…
Chapter 1: Establish your SME. Chapter 2: Set up your production. Chapter 3: Market and sell your products. Chapter 4: Support your customers. Appendix: Various policies, procedures and checklists.
South Asia comprises the states of Bangladesh, India, Sri Lanka, the Maldives, Bhutan, Pakistan, Nepal and Afghanistan. It is an area of enormous opportunity, staggering diversity but also pervasive poverty and instability. Home to 1.64 billion people – roughly 24 per cent of the world’s population – South Asia is an important and emerging market that has averaged an impressive rate of re…
ABSTRACT: This article provides a summary of economic issues found in Atlas Shrugged. It discusses the role of individual initiative, creativity, and productivity in economic progress as illustrated in this novel. It also shows the novel’s depiction of the benefits of trade—and the destruction of exchange relationships and production that results from government intervention in the econom…
Asignificant analytical literature began to develop in the early 1970s to address a succession of macroeconomic woes that afflicted developing countries. By the 1980s, this literature had reached a level of rigor and sophistication comparable to that characteristic of macroeconomic analysis for high- income countries. However, these developments were not typically reflected in standard textbook…
All organizations must have a clear notion of their vision before they may craft and implement any form of strategy. This notion of vision encapsulates the future expression of what an organization hopes to become through the passing of time. Vision represents the perception of the anticipated end state of organizational maturation over large periods of time ranging from years to decades. Visio…
Given the dramatic advances in the transportation and information technologies that have allowed the world economy to globalize over the last few decades, experts have begun to speculate on whether the world is now “flat” (Friedman 2007) or perhaps “spiky” (Florida 2008). Previous thinkers supposed that globalization would lead to creative workers being drawn to specific cities and regi…