1,721,021 research outputs found
Sulla domanda di economia irrazionale: Naomi Klein vs. Milton Friedman
No full textThe persistence of demand for economic irrationality, as expressed by the big success gained by the literature on no-globalism, is an empirical puzzle and the recent book by Naomi Klein "The Shock Doctrine" (2007) is a rampant example. An explanation for this anomaly is provided by the theory of rational irrationality (Caplan, 2007). While in the field of natural sciences confutation of wrong theories sets them apart forever, in the field of economics rebutted theories can still have an appeal on nonprofessional readers, even though the underlying theory has already been proved wrong. This is due to the low private cost of economic opinion and the big gain derived from the illusion of grasping complex economic phenomena
On the Economic Analysis of Corporate Responsibility
No full textLiberty Fund Conference. Chair: John Hasnas (Georgetown University
La teoria economica del divorzio: un'applicazione al caso italiano
No full textAccording to the standard economic analysis of marriage (Becker, 1973), negative assortative mating with regard to labor income prevails in competitive marriage markets, while no neat prediction can be made for mating with regard to education, since partners’ schooling levels tend to be positively related, but education is also positively related to labor income. A richer framework for marriage decision must take into account the strategic and dynamic aspects of mates’ choices and exit option of divorce (Lundberg and Pollak, 2003). This approach may help explaining some patterns of the Italian marriage market. Using data from Bank of Italy’s Survey of Household Income and Wealth and crossing them with data from Istat for the years 1995-1998, we test the standard theory against the strategic theory. The results show a strong inverse relation at the regional level between the educational correlation and the divorce rate, which suggests that transaction costs do play a role in partner’s choice. This result corroborates the Lundberg-Pollak’s hypothesis against Becker’s
The effects of Gregorian Revolution on Western Economic Development
No full textHow did the medieval Gregorian Revolution impact on markets and property rights
Bright and Wealthy: Exploring Assortative Mating
No full textWhile current literature on marital sorting focuses either on the role of schooling or on the role of wages, we argue that both variables simultaneously determine the level of assortative mating, since schooling and wages are never perfectly correlated. Using data from the Bank of Italy's Survey on Household Income and Wealth (SHIW), with families tracked longitudinally from 1989 to 2004, we estimate a system of simultaneous mating equations for wages and schooling, along with a wage equation to model the interaction between the market for marriage and the market for labor. We find evidence that cross-effects of these variables in the mating equations play a significant role in determining the level of assortative matching
The Corporate Income Tax: An Entrepreneurial Perspective
Full text linkWhile corporate income taxation is a major issue in the debate over international finance, economic theory has no clear stance on who bears its burden. On balance, economists seem still more prone to accept that taxing profits does not affect corporations’ outcomes. This paper makes three cases for non-neutrality. First, since corporate income taxation is asymmetric between profit and loss, the tax rate may change the ranking of alternative investments. Secondly, the imperfect observability of the use of internal resources makes pure economic profits very difficult to detect. Thirdly, when the pervasive role of entrepreneurship is fully taken into account, corporate income taxation appears clearly as a direct tax on market adjustments and successful speculation
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