As part of its inquiry on the future growth potential of air traffic in South Africa, the National Institute for Transport and Road Research of the C.S.I.R., asked me at the…
Abstract
As part of its inquiry on the future growth potential of air traffic in South Africa, the National Institute for Transport and Road Research of the C.S.I.R., asked me at the beginning of 1985 to conduct an inquiry on the local tourist market. The main points to investigate were:
Provides an historical study of the intellectual thought of Leonard Dupee White. Contends that L.D. White is one of the major theorists and practitioners in public administration…
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Provides an historical study of the intellectual thought of Leonard Dupee White. Contends that L.D. White is one of the major theorists and practitioners in public administration and is generally ignored. White taught, researched, studied and discovered theoretical concepts and practical methods that are still useful today. Examines the major themes found in White’s writings by chronologically progressing through his works and the major activities of his life. Brings to the forefront a portion of public administrations’ neglected intellectual heritage and makes it useful for the present.
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Peter J. Boettke, Christopher J. Coyne and Patrick Newman
This chapter provides a comprehensive survey of the contributions of the Austrian school of economics, with specific emphasis on post-WWII developments. We provide a brief history…
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This chapter provides a comprehensive survey of the contributions of the Austrian school of economics, with specific emphasis on post-WWII developments. We provide a brief history and overview of the original theorists of the Austrian school in order to set the stage for the subsequent development of their ideas by Ludwig von Mises and F. A. Hayek. In discussing the main ideas of Mises and Hayek, we focus on how their work provided the foundations for the modern Austrian school, which included Ludwig Lachmann, Murray Rothbard and Israel Kirzner. These scholars contributed to the Austrian revival in the 1960s and 1970s, which, in turn, set the stage for the emergence of the contemporary Austrian school in the 1980s. We review the contemporary development of the Austrian school and, in doing so, discuss the tensions, alternative paths, and the promising future of Austrian economics.
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Aarhus Kommunes Biblioteker (Teknisk Bibliotek), Ingerslevs Plads 7, Aarhus, Denmark. Representative: V. NEDERGAARD PEDERSEN (Librarian).
Many jurisdictions fine illegal cartels using penalty guidelines that presume an arbitrary 10% overcharge. This article surveys more than 700 published economic studies and…
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Many jurisdictions fine illegal cartels using penalty guidelines that presume an arbitrary 10% overcharge. This article surveys more than 700 published economic studies and judicial decisions that contain 2,041 quantitative estimates of overcharges of hard-core cartels. The primary findings are: (1) the median average long-run overcharge for all types of cartels over all time periods is 23.0%; (2) the mean average is at least 49%; (3) overcharges reached their zenith in 1891–1945 and have trended downward ever since; (4) 6% of the cartel episodes are zero; (5) median overcharges of international-membership cartels are 38% higher than those of domestic cartels; (6) convicted cartels are on average 19% more effective at raising prices as unpunished cartels; (7) bid-rigging conduct displays 25% lower markups than price-fixing cartels; (8) contemporary cartels targeted by class actions have higher overcharges; and (9) when cartels operate at peak effectiveness, price changes are 60–80% higher than the whole episode. Historical penalty guidelines aimed at optimally deterring cartels are likely to be too low.
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The market equilibrium model predicts that the supply and demand schedules of labor to an industry will cross at a level at which labor receives the value of its marginal product…
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The market equilibrium model predicts that the supply and demand schedules of labor to an industry will cross at a level at which labor receives the value of its marginal product as contributed to the output produced. The imposition of an effective minimum wage in that industry creates a price floor for labor which will reduce employment as it promotes incentives to substitute capital for labor and/or workers with higher marginal productivity for those with lower skill and lower marginal productivity. This means in effect that it will lead employers to eliminate less productive jobs. Teenagers (youths 16–19 years old) with little training or work‐experience may be priced out of the market because they are not “worth” (in terms of productivity) the minimum wage.
The Bureau of Economics in the Federal Trade Commission has a three-part role in the Agency and the strength of its functions changed over time depending on the preferences and…
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The Bureau of Economics in the Federal Trade Commission has a three-part role in the Agency and the strength of its functions changed over time depending on the preferences and ideology of the FTC’s leaders, developments in the field of economics, and the tenor of the times. The over-riding current role is to provide well considered, unbiased economic advice regarding antitrust and consumer protection law enforcement cases to the legal staff and the Commission. The second role, which long ago was primary, is to provide reports on investigations of various industries to the public and public officials. This role was more recently called research or “policy R&D”. A third role is to advocate for competition and markets both domestically and internationally. As a practical matter, the provision of economic advice to the FTC and to the legal staff has required that the economists wear “two hats,” helping the legal staff investigate cases and provide evidence to support law enforcement cases while also providing advice to the legal bureaus and to the Commission on which cases to pursue (thus providing “a second set of eyes” to evaluate cases). There is sometimes a tension in those functions because building a case is not the same as evaluating a case. Economists and the Bureau of Economics have provided such services to the FTC for over 100 years proving that a sub-organization can survive while playing roles that sometimes conflict. Such a life is not, however, always easy or fun.
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Aim of the present monograph is the economic analysis of the role of MNEs regarding globalisation and digital economy and in parallel there is a reference and examination of some…
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Aim of the present monograph is the economic analysis of the role of MNEs regarding globalisation and digital economy and in parallel there is a reference and examination of some legal aspects concerning MNEs, cyberspace and e‐commerce as the means of expression of the digital economy. The whole effort of the author is focused on the examination of various aspects of MNEs and their impact upon globalisation and vice versa and how and if we are moving towards a global digital economy.
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Long W. Lam and Louis P. White
Stage models have benefited global managers by seeing internationalization as an evolutionary and learning process that involved making careful and incremental changes. What the…
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Stage models have benefited global managers by seeing internationalization as an evolutionary and learning process that involved making careful and incremental changes. What the stage models lack, however, are specification of internal problems and hurdles that managers will face during this organizational change process. We attempted to fill this knowledge gap by exploring types of managerial dilemmas that organizations will confront as they internationalize. This adaptive choice process of internationalization was discussed in this paper through the case of a domestic company during its overseas expansion. Our research shows that the internationalization process often creates managerial dilemmas for organizations in terms of strategic, structural, and human resource changes. There are also strong interactions among these dilemmas such that the decision regarding one dilemma may often impact how other dilemmas can be resolved Firms that are able to resolve these dilemmas, while considering their interactions, can become more successful in their internationalization process. These findings were developed into propositions regarding how companies can manage the process of internationalization more successfully. We also addressed specifically how the adaptive choice model would complement the stage models and enrich our understanding of the corporate internationalization process.