Economic theory

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 ...

Everyone knows about the record government spending, but the result is not in reality. Over the past 5 years, the political elite has successfully recreated the dream environment described in more than one or two generations of economics textbooks by implementing record-high fiscal and monetary stimuli. However, the positive results are not just late, they remain too …

The actions and statements of the first hundred days of the government have made it clear that the cabinet intends to spend more than the previous one. However, the question of where the financing of the bloated public spending will come from has not been answered unequivocally.

Many naive observers of the market economy dismiss concern for the “bottom line” as a purely accidental social custom. To these critics, it seems absurd that a factory producing, say, drugs or toddler shoes would stop where the owner judges that profit is maximized.

The thesis that economic bubbles are an inevitable creation of the market continues to be somehow promoted in the public sphere; that they are fueled by psychological factors, by the herd behavior of profit-hungry investors. Even more disturbing is the claim that a bubble can only be recognized when it bursts.

Millions were killed in the name of the socialist "kingdom of plenty", and even more were the destinies marked by persecution, torture and camps. According to the well-known "Black Book of Communism", the victims of the hammer and sickle in the 20th century numbered 94 million - a staggering number, which becomes even more terrifying when we get acquainted with ...

At the end of August, the Association of Children's Goods Traders submitted a request to parliament to eliminate VAT on products for children up to 3 years of age - this article is a critique of the position of the Institute for Market Economics (IME) against the association's proposal.

On September 2, the great Ronald Coase died in Chicago at the age of 102. To the general public, Coase is known for being awarded the Nobel Prize in Economics in 1991 for his contributions to understanding the importance of transaction costs and property rights for institutional structure and functioning …

Should taxpayer money be used to fund scientific projects? Is there a better way to fund research? What are the problems with government spending?

Should taxpayer money be used to fund scientific projects? Is there a better way to fund research? What are the problems with government spending?