economics

  Rather unusually, the Nobel Prize in Economic Sciences was awarded yesterday in equal parts to three professors living in the USA: Daron Acemoglu (MIT), his colleague Simon Johnson (MIT) and James A. Robinson from the University of Chicago. This honorable and prestigious award was given to them for their research into the institutions that […]

  People respond to incentives, not to mandates or regulations. Gary S. Becker   Take Away While Paul A. Samuelson (Nobel Prize 1970), Milton Friedman (Nobel Prize 1976), or George Stigler (Nobel Prize 1982) probably exercised a greater sway on practical economic policy, Gary Becker expanded the scope of economics as a science like no […]

The subtitle of this essay has been borrowed from Terry L. Anderson’s conference on ‘Markets vs. Mandates. Promoting Environmental Quality and Economic Prosperity’, Hoover Institution, Stanford University, Jan. 30, 2023. Permission granted. Take Away The scarcity of means to satisfy given ends is an omnipresent condition of life and all conscious human actions profoundly affect […]

  Since Chinese President Xi Jinping forced his way into a third term of office, he has tried to build up a great image of himself as an all-knowing leader. He wants Chinese people to learn from his “theories,” especially economic ones. Recently, during the BRICS summit in South Africa, Xinhua News Agency held a […]