How do we account for the “voluntary servitude” that reigns in auditing firms? A survey of their employees shows the cause can be found in the spirit of competition and the cult of elitism.
The policies implemented in response to Europe’s sovereign debt crisis and serious economic imbalances evoke the concept of “competitiveness.” Yet this concept and the measures it implies are ill-suited to Europe’s situation and may worsen its predicament.
In a book that uses Darwinian insights alongside Adam Smith to change our thinking on economics, Robert H. Frank sets out to convince libertarians that more taxes can mean more growth and more freedom. Can he succeed?
Antidumping measures have become an important form of commercial protection for countries, regulated by WTO. The effect of this kind of protection on firm-level productivity is highly heterogeneous. If it allows initially low-productivity domestic firms to restructure and increase their performance, it tends to hurt high-productivity domestic firms and exporters.
Economic theory makes the price the common measure of all goods. However, does it apply to singular goods? Is it the least help when we must choose a good restaurant, a good lawyer, or yet, the best evening course for our children?
