Articles

Redistribution may be defined as the transfer of tax revenue to finance the state apparatus and maintain the government. One of the ways to calculate the size of redistribution of an economy is to calculate the ratio between tax revenue and the gross domestic product (GDP).

On September 14, 2016, the Lithuanian Parliament endorsed a new Labour Code which will bring about the most notable changes in terms of types of employment contracts, working time and overtime regulation, annual leave, employee dismissal procedures, and the size of severance pay.

Since personal interest is a mandatory attribute of a human life, i.e. humans a priori aim to meet their needs and follow their passions, it is unbefitting to assume that public interest exists away from the nature of human beings, for someone and in order to achieve something.

LFMI was named one of six finalists for this year’s Templeton Freedom Award for its textbook of economics – Economics in 31 Hours – that is giving the next generation of Lithuanian youth a fighting chance to get the economics right by teaching how property rights, free exchange, profit and competition shape decision-making in our everyday lives.

The EC’s decision to start an in-depth investigation into Poland’s tax on the retail sector is undoubtedly right as this additional tax imposed on large stores is unjustified and harmful. It should be up to a consumer’s individual choice where to go shopping.

We could say that populism is a natural effect of the lack of democratic accountability. If the promises and values which are at the heart of a democratic system seem to be broken by the established parties in power, here come the new movements, yelling against old politicians who betrayed their people, and promising to change the corrupted system, if they are elected.

Some could argue that May is just taking time to avoid the implementation of the referendum’s result, which is quite unlikely, since after all “Brexit means Brexit”, and that she will not call for another referendum because UK citizens already expressed their will, and the government will respect it.

There are so many question marks around the revenues coming from the careful obtaining of political information, that the voters will probably decide that it is not even worth it. And that they would rather go to a pub. From the economic point of view, it is an absolutely logical thing.

Italy is one of the first countries in Europe that has the major number of users and people aware of what is the so-called “sharing economy” (it is the third country after Turkey and Spain).

The government of Hungary spent the last few years informing the people with flyers, political surveys and billboards, that the “illegal immigration” is becoming a bigger problem day to day. During this process, lots of misleading or simply incorrect facts came out, not only abut the migrants, but even about the EU itself.