The Review of Social and Economic Issues


Vol. 1, No. 4, Spring

Inside Dumping Theory: Austrian Perspectives on the Cost Problem
INTRODUCTIONDumping is considered to be one of the most dangerous entrepreneurial practices in economic competition. As it is described by neoclassical economics, the dumper is the firm that enforces a predatory pricing policy on a certain market, with...
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Measurement of Market Mechanism, How Big Is Government?
MEASUREMENT OF MARKET MECHANISM, HOW BIG IS GOVERNMENT?Higgs has addressed very important issue of the measurement of government in official statistics (Higgs, 1991; Higgs, 2015); this issue is rather ignored in the mainstream literature, even though...
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The American Deep State: Wall Street, Big Oil, and the Attack on U.S. Democracy (War and Peace Library)
The traditional political analysis, the one which divides the parties on an imaginary axis from left to the right and explains most democratic phenomena by reference to the dynamic of the sociological and political parties, is outdated for a long time....
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Are Economic Crises Inherent to Capitalist Evolution?
INTRODUCTIONThe fact that crises are inherent to capitalistic evolution is a central claim of Marxist political and economic doctrine. A large number of people continue to be, whether knowingly or not, Marxist in their ideological orientation, and there...
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Vol. 1, No. 3, Spring

A Note on De-Homogenizing Economic and Political Integration from a Praxeological Perspective
INTRODUCTIONSince the end of the Second World War, the historical event that marked the "apotheosis of the state" (van Creveld, 1999) and the age of "omnipotent government" (Mises, 2010), the world stage witnessed a boom in the number of independent...
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Victor Place as Early Advocate of Fractional Reserve Central Banking in Romania
Victor Place was a French diplomat born in 1818, having served in St. Dominique and Mossul before being appointed at the Consulate of France in the Principality of Moldavia, in September 1855. He served as Consul until April 1863, having thus been a...
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The Adoption of Euro in Case of Romania: The Main (Counter) Arguments
INTRODUCTIONMonetary issues are probably the most technical aspects of economic field. The meaning of inflation, the fractional reserve system or the features of fiat-money are difficult to be explained to regular people that are directly affected by...
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A "Sort of Intellectual Sleight of Hand": How Nobel Laureates Paul Krugman, Robert Solow, and Joseph Stiglitz Praised Thomas Piketty's Capital in the Twenty-First Century, and What That Tells Us about the State of 21st Century Economics
A "Sort of Intellectual Sleight of Hand": How Nobel Laureates Paul Krugman, Robert Solow, and Joseph Stiglitz Praised Thomas Piketty's Capital in the Twenty-First Century, and What That Tells Us About the State of 21st Century EconomicsCommenting on...
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Animal Torture: A Critique of Thick Libertarianism
Animal torture has had a bandit-like existence in libertarian theory. With but few exceptions (mass murder, rape, torture of human beings) viciously mistreating helpless animals is about the most despicable act imaginable. And here we are not discussing...
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P.A. Stolypin: The Search for Stability in Late Imperial Russia
Abraham Ascher, P.A. Stolypin: The Search For Stability In Late Imperial Russia, Stanford, Stanford University Press, 2001, 468 ppWestern histories about the pre-revolutionary Russia are very rare, and general encyclopaedias or treaties talk very little...
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Red Capitalism: The Fragile Financial Foundation of China's Extraordinary Rise
Carl E. Walter, Fraser J.T. Howie, Red Capitalism: The Fragile Financial Foundation of China's Extraordinary Rise, Revised and Updated: John Willey & Sons Singapore Pte. Ltd., 2012, 260 pp. Isbn 978-1-118-25510-0Deng Xiaoping famous 1980s say, 'capitalism...
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Challenging Institutional Analysis and Development
Paul Dragos Aligica and Peter J. Boettke: Challenging Institutional Analysis and Development: The Bloomington School London & New York: Routledge, 2009, viii + 168 pp, ISBN: 978-0-415-77821-3,The Metropolitan Reform Movement debates of the 1960s...
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Vol. 1, No. 2, Spring

The Nominal and Real Convergence: A Real Problem for a Single Currency Area
INTRODUCTIONThe European Union is the most complex integration project that integrated until now an important number of countries with different degrees of development. Initially, this project began as a liberal one, with the declared purpose of promoting...
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Sfânta Rusie
Alain Besançon, Sfânta Rusie, translated by Vlad Russo, Bucharest: Humanitas, 2013, 168 pp., ISBN 978- 973- 50- 3978-3Published in 2012 in France, Alain Besançon's study, "Holy Russia", proposes to offer the Occidental reader a balanced and neutral introduction...
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Fair Trade: Its Real Impact on the Working Poor
INTRODUCTION*Fair trade has been on the rise in last few decades as a solution for the inequality between the developed nations and the developing world. As described by FINE, an informal association of four international fair trade networks-Fairtrade...
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Price Rigidities and the Market Process
Insufficient price flexibility is considered to be an important reason for conducting monetary policy (Groshen and Gecchetti, 2000). The adjustment of the money supply can supposedly eliminate the negative effect of a nominal demand collapse or of a...
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Structural Funds as the Solution a to the Present Crisis: Romania - a Case Study
INTRODUCTIONBy taking into account both its amplitude and its intensity, the present economic crisis represents a challenge for national policymakers worldwide. Numerous voices seem to consider that structural funds, provided by the EU, can be a possible...
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Vol. 1, No. 1, Summer

The Political Economy of Taxes from a Free-Market Perspective*
If I am invited by an organization named after Murray Rothbard, then I always say "yes!" Unfortunately, this was the first time in my life I was invited by an organization named after Murray Rothbard. He is an economist who should be better known and...
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Cosmos & Transcendence: Breaking through the Barrier of Scientistic Belief
Wolfgang Smith, Cosmos & Transcendence: Breaking through the Barrier of Scientistic Belief, Angelico Press / Sophia Perennis; 2 edition (February 26, 2008)Nowadays, one of the surest methods of intellectual suicide is to question Science. By this...
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Free Trade under Fire
Douglas A. Irwin, Free Trade under Fire, 3rd ed. Oxfordshire: Princeton University Press, 2009, 313 pp. isbn 978-0-691-14315-6The first edition of Douglas Irwin's Free Trade under Fire was published in 2002, shortly after anti-globalization concerns...
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The Cost of Being Female: Rejoinder to Sayers
INTRODUCTION1Numerous economists take the position that wages are determined by discounted marginal revenue productivity (Block, 1990). Sayers (2012) takes issue with the views of one of them, Block,2 in this regard. The present paper is devoted to defending...
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Defense as a Private Good in a Competitive Order
INTRODUCTIONProbably the most popular argument delineating an ostensibly beneficial function performed by a monopoly of force - i.e., the state - refers to its claimed ability to supply society with certain essential, otherwise unattainable classes of...
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Incentives and the Economic Point of View: The Case of Popular Economics
INTRODUCTIONIn recent years a curious idea has permeated economic thought and teaching: the idea that economics is fundamentally the study of incentives. In particular, the spread of a certain kind of "popular" economics writing in the last two decades...
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