Nowadays, most countries are dominated by the so-called pay-as-you-go (PAYG) pension system, called in Bulgarian “expenditure-covering”. The principle of PAYG is simple: the pensions of today's retirees are paid for with a portion of the taxes collected from the working population

By deciding not to invest now, the entrepreneur conserves factors of production for another time and another use (an unknown time and use). He keeps valuable resources from being used in the present because he speculates that they will be put to better use in the future.

Marc Faber has always been skeptical about the West's ability to successfully address the economic and social problems it faces. This is largely due to his belief that the monetary and fiscal policies pursued by central banks and governments in the "Old World" cannot or simply will not...

For years, Russia has managed to stay afloat thanks to its wealth of valuable natural resources, while the rest of the economy has been weak and uncompetitive.

In short, on January 27, 2012, we will answer "Yes" or "No" to a question to which neither I nor a large majority of Bulgarians can give a sufficiently substantiated answer, but no one will ask us about the far more prosaic and "unimportant" question about cigarettes.

The Student Libertarian Club (SLC) - UNWE and the Sociologist's Club - UNWE invite you to a lecture-discussion on the topic "Who is to blame for the economic crisis and what is the way out of it."

While the focus of the UN and the world's media has been on the ongoing conflicts in the Middle East, the rapidly escalating territorial dispute between Japan, the People's Republic of China, and the Republic of China (Taiwan) has gone largely unnoticed.

In recent months, dealing with the financial crisis in the eurozone has logically been the main issue on the agenda of the Old Continent. The focus, intentionally or not, has been shifted from the remaining serious challenges facing European bureaucrats. The widely publicized, but difficult to implement at this stage, reform of the Common Agricultural Policy (CAP) could …

The mass approval and sympathy for the mysterious "snitch" launched a kind of crusade against the outrages of political life.

What should you do if you are surrounded by enemies ready to tear you apart? From the theory of deterrence, and from the logic of street fighting, it follows that you should take action that clearly shows that you are ready to do anything to defend yourself. Simply put, you should make it clear that …