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1 – 10 of over 3000
Article
Publication date: 1 February 2004

Roy Whitehead and Walter Block

In the aftermath of the Enron scandal, the critics of free enterprise have blamed this system for inflated and out of control executive salaries, particularly those of the chief…

Abstract

In the aftermath of the Enron scandal, the critics of free enterprise have blamed this system for inflated and out of control executive salaries, particularly those of the chief executive officer (CEO). The present paper defends the marketplace against these charges. In section I we argue that the market has passed the Enron test with flying colors. Section II gives the background of the financial situation relating to CEO salaries. Sections III and IV are devoted to, respectively, the tax court and the appellate court; section V looks at the reaction of the former to the latter; and in section VI we defend the “independent investor” test. We look at this issue from a political economic perspective in section VII and conclude in section VIII.

Details

Managerial Finance, vol. 30 no. 2
Type: Research Article
ISSN: 0307-4358

Keywords

Article
Publication date: 1 March 2004

Walter Block

In order to answer this question, it will first be necessary to distinguish between political and economic correctness on the one hand, and then between Austrian and mainstream…

Abstract

In order to answer this question, it will first be necessary to distinguish between political and economic correctness on the one hand, and then between Austrian and mainstream economics on the other.

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Humanomics, vol. 20 no. 3
Type: Research Article
ISSN: 0828-8666

Article
Publication date: 1 January 1998

Walter Block

In the view of most economists, highways and streets are “public goods,” not amenable to ordinary market competition. The present papers argues, to the contrary, that these…

Abstract

In the view of most economists, highways and streets are “public goods,” not amenable to ordinary market competition. The present papers argues, to the contrary, that these thoroughfares are conducive to competitiveness, and then applies these insights to automobile insurance and price controls.

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Competitiveness Review: An International Business Journal, vol. 8 no. 1
Type: Research Article
ISSN: 1059-5422

Article
Publication date: 1 February 2000

Walter Block

Some economic commentators claim that inequality of wealth or income reduces economic development and growth of GDP. But this is counterintuitive, since economic breakthroughs…

Abstract

Some economic commentators claim that inequality of wealth or income reduces economic development and growth of GDP. But this is counterintuitive, since economic breakthroughs usually occur by dint of great effort, or discovery, or invention, which brings great wealth to those responsible (think Bill Gates). Nor is this thesis supported by a proper interpretation of the facts of the matter, despite the contentions of several authors in this regard. Torsten Persson and Guido Tabellini (1994) (hence, PT) have an interesting thesis. It is that inequality is harmful for economic growth. That is, ceteris paribus, the more equal is the income or wealth distribution, the better are a country's prospects for economic development.

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Humanomics, vol. 16 no. 2
Type: Research Article
ISSN: 0828-8666

Article
Publication date: 1 March 2002

Jason Evans and Walter Block

States that labour unions are widely respected institutions in modern society. Argues that this reputation in unearned insofar as these organizations are the only ones, besides…

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Abstract

States that labour unions are widely respected institutions in modern society. Argues that this reputation in unearned insofar as these organizations are the only ones, besides that Government, which have not only a de facto warrant to initiate violence against innocent people (e.g. scabs) but a de jure one as well (right to strike). Suggests that in a socieity characterized by economic freedom, organized labour as presently constituted would be banned outright.

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Cross Cultural Management: An International Journal, vol. 9 no. 1
Type: Research Article
ISSN: 1352-7606

Keywords

Article
Publication date: 1 March 2005

Walter Block and William Barnett

This paper argues that laissez faire capitalism is the last best hope for mankind. That if the human race is to survive and prosper, put an end to starvation, hopelessness and…

Abstract

This paper argues that laissez faire capitalism is the last best hope for mankind. That if the human race is to survive and prosper, put an end to starvation, hopelessness and unemployment, then we must embrace private property rights, the rule of law and free enterprise. No longer should “profits” be a dirty word.

Details

Humanomics, vol. 21 no. 3
Type: Research Article
ISSN: 0828-8666

Article
Publication date: 27 July 2021

Walter Block and Sarah Huddell

This paper aims to examine the case against land use zoning.

Abstract

Purpose

This paper aims to examine the case against land use zoning.

Design/methodology/approach

We approach this analysis from the perspective of economics, health and geography.

Findings

The findings of this paper suggest that the case against zoning is overwhelming.

Research limitations/implications

This result applies only to public zoning, not the private variety thereof.

Practical implications

Public zoning should be repealed.

Originality/value

This paper approaches this from three perspectives: economics, health and geography; this has not been done before.

Details

International Journal of Ethics and Systems, vol. 37 no. 4
Type: Research Article
ISSN: 2514-9369

Keywords

Article
Publication date: 1 April 1999

Walter Block

Rasmusen, Ramseyer and Wiley (1991) (hereafter RRW) seek to show that exclusionary agreements can be both “profitable and pernicious (1137).” A contract to exclude provides that…

Abstract

Rasmusen, Ramseyer and Wiley (1991) (hereafter RRW) seek to show that exclusionary agreements can be both “profitable and pernicious (1137).” A contract to exclude provides that if I sell to you, you agree not to buy from anyone else but me; you must be loyal or, better yet, faithful, to me. RRW “focus on exclusionary conduct that is ‘naked’: conduct unabashedly meant to exclude rivals, for which no one offers any efficiency justification” (1137).

Details

Humanomics, vol. 15 no. 4
Type: Research Article
ISSN: 0828-8666

Article
Publication date: 19 February 2018

Laura Davidson and Walter E. Block

The purpose of this paper is to correct Rozeff (2010). He contends that fractional-reserve banking is legitimate and efficacious. The authors demonstrate that it is not.

Abstract

Purpose

The purpose of this paper is to correct Rozeff (2010). He contends that fractional-reserve banking is legitimate and efficacious. The authors demonstrate that it is not.

Design/methodology/approach

The design of this paper is to quote widely from Rozeff (2010) and then to expose his errors of analysis.

Findings

The authors demonstrate that fractional-reserve banking is neither legitimate nor efficacious.

Originality/value

Money is the lifeblood of the economy. If so, then banking is the marrow of the economy, since it is from that sector that money arises in the first place. It is crucially important, then, that the monetary system be based on sound principles. Fractional-reserve banking is a violation of these sound principles. Therefore, it is valuable to demonstrate that this is indeed the case.

Details

Journal of Economic and Administrative Sciences, vol. 34 no. 2
Type: Research Article
ISSN: 1026-4116

Keywords

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