Monday, October 30, 2006
Friday, October 27, 2006
Monday, October 23, 2006
Thursday, October 19, 2006
*The indicators describe three dimensions of investor protection: transparency of transactions (Extent of Disclosure Index), liability for self-dealing (Extent of Director Liability Index), shareholders’ ability to sue officers and directors for misconduct (Ease of Shareholder Suits Index) and Strength of Investor Protection Index. The indexes vary between 0 and 10, with higher values indicating greater disclosure, greater liability of directors, greater powers of shareholders to challenge the transaction, and better investor protection.
Source: World Bank, Doing Business 2006
Wednesday, October 18, 2006
"The issues swirling around capitalism today concern the consequences of its dynamism. The main benefit of an innovative economy is commonly said to be a higher level of productivity--and thus higher hourly wages and a higher quality of life. There is a huge element of truth in this belief, no matter how many tens of qualifications might be in order."
- Edmund Phelps
Friday, October 13, 2006
Milton Friedman, the 1976 Nobel laureate in Economics and the most influential economist of the 20th century bemoans the latest Hong Kong's political shift toward governmental interventionism and statist approach that is forgetting the lessons of the policy that lead Hong Kong toward the miracle of free market. You can read it here.
Monday, October 09, 2006
"Slovenia is a land of contradictions, an Alpine paradise for pensioners with extremely hostile environment to the youth. They are enchained to be forced to pay high progressive taxes that don't take assets into account as well as they're compelled to high prices of real estate. They will sweat longer than current pensioners ever did, they will pay higher social security contributions and at the end they will receive lower pensions. Those who're thrown into the wheel of life without backup basis are only able to create wealth and welfare on their own account respectively. Closer they reach the point of their objectives, more they are pushed to the ground with progressive taxes. The outcome of "socially egalitarian" order is that people spend more time on the workplace and rarely decide to start taking care of themselves as well as they rarely decide to start creating their own families ... And remember, if you're a liberally minded individual living in Slovenia, don't get despaired. Instead, keep on finding the way of how to be liberal within the current system.