Treaties about free trade are not about free trade, but about managed trade. They are the result of thinking in the frames of the 300-years old mercantilist philosophy, which considers export to be the source of wealth and import to be the price paid for that wealth.
Regulation of the commercial business sphere by the government is a relatively hot topic these days. According to a new study by Coffey, McLaughlin and Peretto (2016), the current GDP of the US would be 25% higher if federal regulation had not increased since the 1980s.
INESS members took to the streets with a physical version of the annual bureaucracy load of a new company (652 pages of forms) and polled pedestrians about their view on red tape, giving red apples to the pessimists and green ones to the more positive oriented folks.
On July, 28, 2016, INESS organized in cooperation with EdChoice the 7th annual event commemorating Milton Friedman – The Friedman Legacy Day. This year, more than 100 similar events in various countries around the globe were held, the aim of which was to remember the intellectual legacy of one of the greatest economist of the century.
Football as a sport is not selective about effeminate athletes who have a low pain threshold and pathological inclination to deception. Football players are just the same as other professional athletes; the only difference is in the environment and referring constraints to which they must face in pursuit of victory.
This is what my brother reportedly said right after I left the airplane on the paragliding course. The UK referendum was a similar surprise. It could have been expected, nevertheless I did not expect it. Supposedly, you cannot even slow down when riding the integration bicycle.
While higher taxes cause immediate pain, numerous fees can be hidden in prices of products with anybody hardly noticing. A systematic concealing of environmental or social policies into the electricity prices is one of the causes of high prices. INESS has attempted to quantify the effect by introduction of the imaginary “Electric Tax”.
An international conference Free Market Road Show organized by INESS in cooperation with Austrian Economics Center was held in Bratislava at the Hotel Tatra on March 11, 2016. The Bratislava Free Market Road Show is a part of a unique conference tour which takes place in 45 cities of Europe and Caucasus from March to April every year.
A robot called Baxter truly exists. It takes him one hour to learn simple repetitive movements and then it is able to repeat them with objects which weight no more than 10 kilograms. Baxter costs 22 thousand US dollars. It is less than work costs of one employee with average salary in Slovakia for two years.