COMPETITION

“Do you know what the driving force behind economic progress is and that we are getting a little better all the time?” Is it scientific knowledge? Technological progress? Are entrepreneurs behind it? New investments? Or a combination of all of these? One process is behind all these reasons. Competition

The European Commission proposes an extension of price reporting for most agricultural products in all its variety for all economic actors of the value chain on weekly and monthly bases. According to the EC, this measure will address a lack of transparency and information asymmetry in the food supply chain.

Prime Minister Jüri Ratas (Centre) has said that he does not have any red lines or issues on which it\'s not possible to compromise. The fact that it\'s possible to compromise on truly anything, including a lack of political responsibility, is confirmed by the actions of the current government on a weekly basis.

On September 10, 2019, the first international finale of the Economics Olympiad took place in the Czech national bank in Prague. Slovakia was excellently represented by five students from whom two reached the first two medal positions.

The Economics Olympiad was launched in 2017 with a participation of 4,000 high school students. This year, the competition enjoyed even more popularity with more than 5,300 contestants overall.

This year´s topic is Europe+ and we are looking forward to stories on the added value of the European Union. What are the advantages of the European Union? What did the EU do well according to you – in general terms or in your personal experience?

The competitiveness of a country’s tax system is instrumental in creating a favorable environment for foreign direct investment, stimulating business, and advancing societal well-being. Competition based on endogenous factors should not be perceived as unjust or unnatural.

Regulation of retail opening hours is applicable in 14 out of 30 European countries. The range of the regulation varies widely across the countries, as evidenced by a variety of exemptions. Yet, the bans fail to achieve their objectives: a number of European countries have gone through deregulation.

Energy Taxation Directive (ETD) claims to improve the Single Market, promote energy efficiency, and contribute to jobs and growth. In reality, it fails to achieve these objectives. The research by LFMI suggests that in 2012 the grey market for fuel comprised nearly 20 percent of the market for transportation fuel.

At the end of the day, efforts to protect domestic businesses are always paid by the consumers. Nothing is free, the same is true also for protectionism. It leads to higher prices and worse quality of services that protected businesses offer.