• Equalization Provincial Government
    951 words
    Introduction The intent of this paper is to explain the equalization program and Atlantic accord. First, what is equalization, why does the program exist, and how is it calculated? Are there problems with today's equalization program? Next, what is the Atlantic accord and generic solution and why has it been an issue in the past six months? What were the offers the federal government gave Newfoundland and what was finally accepted by Newfoundland's provincial government? Finally, what do the fut...
  • Politics Of Consumption Middle Class
    7,136 words
    IN CONTEMPORARY American culture, consuming is as authentic as it gets. Advertisements, getting a bargain, garage sales, and credit cards are firmly entrenched pillars of our way of life. We shop on our lunch hours, patronize outlet malls on vacation, and satisfy our latest desires with a late-night click of the mouse. 1 Yet for all its popularity, the shopping mania provokes considerable dis-ease: many Americans worry about our preoccupation with getting and spending. They fear we are losing t...
  • Free Rider Problem Public People Good
    1,130 words
    The Free Rider Problem The free rider issue has become one of the most serious economic issues today. The free rider is a lazy type person who wants the benefits that others bring in without having to do the work. The free rider typically takes advantage of a public good. Living in a civilized society presents many opportunities for free riding, which we have yet to find a way to control. Economists regard the possibility for free riding as a problem for the free market, which usually leads to g...
  • Is Taxation Is Theft
    1,028 words
    Taxation, the government acquisition of property from the individual has mixed support in any Western democratic system. To make its way into the good will of the majority, taxation has surrounded itself with doctrines of justification. No law which lacks public approval or acquiescence is enforceable, and to gain such support it must address itself to our sense of correctness. This is particularly necessary for statutes authorizing the taking of private property. Sometimes depicted as 'theft' b...
  • Purely Private Enforcement University Press
    6,416 words
    4. 8 Purely private enforcement: a model Richard Posner writes, "I hope to challenge the assumption, largely unquestioned since Hobbes, that a state (if only a minimal, 'nightwatchman's tate) is necessary to maintain the internal and external security of society. I am not advocating anarchy. My argument is that a state is not a precondition of social order in the circumstances depicted in the Homeric epics - and even there, it is just barely not. In our circumstances, we could not do without a ...
  • Begg Fischer Dornbusch 2000 Market Cost Marginal
    1,487 words
    MARKET FAILURE In practice, there are many problem and markets sometimes fail to meet our needs. Market failure arises in a number of ways. We use the term Market Failure to cover all the circumstances in which equilibrium in free unregulated markets (i. e. markets not subject to direct price or quantity regulation by the government) will fail to achieve an efficient allocation (Begg, Fischer, Dornbusch, 2000, pg 265). In economics terms freedom of enterprise will tend to produce inequality of w...
  • Government Intervention In The Australian Economy
    639 words
    The free operation of market forces does not always achieve the most desirable economic and social outcomes. Discuss reasons for government intervention in the Australian economy. The free operation of market forces does not always achieve the most desirable economic and social outcomes. Australia has a mixed market economy where the decisions concerning production and distribution are determined by a mixture of market forces with some degree of government intervention. Markets are not perfect. ...