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Postulates that politicians and economists again seem to believe in Say’s “law of markets” ( la loi des “débouchés” ). Discusses this law and its applicability in the present. States that supply does not always create the right amount of demand. Say’s law has its flaws because of its underlying...
Starts from the premiss that the concept of scarcity is the cornerstone of economics. Discusses concepts of needs and wants. Reviews some views on the differences between needs and wants, the reasons for these differences and their scarcity and opportunity cost.
Argues that conceptually, privatization entails changing organizational status from public to private and from a monopoly to a competitive situation. In practice, the outcome may be different. Many privatized utilities conform to neither the traditional notion of the public nor the private...
Discusses how, from 1919 the ILO (International Labour Organization) has been meeting the call for labour market deregulation with the plea that “labour is not a commodity” and that treating it as such can only result in ‐ and exacerbate ‐ social injustice. On its re‐entry into the international...
Analyses self‐interest and sympathy in game‐theoretic terms. Evaluates the relative weight of self‐interest and sympathy in the theories of Hobbes, Hume and Adam Smith in an economic framework. Demonstrates through game‐theoretic tools that sympathy as an actuating motive in human nature gives...
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