“Corruption is the abuse of entrusted power for private gain.” Transparency International Corruption is a problem. Although it seems quite logical, this statement raises controversy among economists, since it is difficult to determine exactly in what form corruption manifests itself and by what mechanism it affects economic activity. …

It seems that the BSP has again not understood exactly what the plan is (or as is fashionable lately – the supporting points). The reason for this observation is given by two of the ministers in the cabinet – Justice Minister Zinaida Zlatanova and Interior Minister Tsvetelin Yovchev. The subject of their misunderstanding is the draft for a new Criminal …

And is it necessary to think that we are living better until a point when we will have to pay the price for it?! Looking back at economic history, the problem is not in the answer to the question itself, but in how it will be read and what lesson it will leave, because, as a general …

The 24th anniversary of the fall of the Berlin Wall (November 2013) gives us a good reason to look back at the economic and philosophical foundations of Marxism; of the “scientific” communism that was supposed to lead humanity to the inevitable final stage of history and the end of the dialectical clash between classes. We all know what this experiment led to…

Cities are where we can witness many of the problems that arise from poorly defined or poorly enforced property rights – most notably in the form of numerous negative externalities. The topic includes the often-discussed issue of road ownership (for example), but here we will …

The agreement on Iran's nuclear program with the P5+1 countries, including the United States, Britain, France, Russia, China and Germany, is probably the most important geopolitical event of the past year. After nearly a decade of increasing pressure on the Islamic Republic, the negotiations on the principle of the "big stick" have yielded results. With the Iranian economy …

As Ben Bernanke's term as Federal Reserve Chairman nears its end, the question of what the central bank's future policy will be is becoming increasingly pressing. Will Janet Yellen, President Obama's nominee to replace Bernanke, continue the Fed's current loose monetary policy, or can we expect a gradual withdrawal...

Very soon we can expect green energy producers to join the wave of protests against the government. Earlier this week, the parliament's budget committee proposed that revenues from the sale of energy from renewable energy sources (RES) be taxed at a 20% fee. The idea of the fee is included in the draft …

Electricity and gas prices in the UK are expected to rise by 8-9% over the winter season. From the apocalyptic picture that the British media is trying to paint, one might be left with the impression that we are talking about some developing country whose energy supplies are monopolized by Russia. Let's see...

There is no topic that has generated as much controversy in economics as the "rationality" of economic agents. Critics of "homo- oeconomicus" deny both its existence and the ability of economics to explain real processes and phenomena. This is the so-called "bad input/bad output" problem, i.e. when you build a structure based on wrong assumptions, the results made ...