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by Federico N. Fernández

Alexis Tsipras has repeatedly praised the way Argentina handled its 2001 economic crisis. The current events in Greece, unfortunately, seem to be a déjà vu of the Argentinian collapse. Now that the Syriza administration has imposed capital controls and flirts with default and euro Grexit, a proper assessment of the Argentinian crisis might be needed more than ever.

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   By John E. Charalambakis

Theories are not extracted from history. On the contrary, theories are needed in order to interpret history. Economic phenomena are ordered in accordance to definite laws. Understanding the relationships among economic variables is pivotal in assessing forthcoming risks and potential responses to those risks. The recurring economic structures help us comprehend fundamental relationships and, as Carl Menger taught us, economics is the study of universals apprehended in a realist manner. The economic and financial symptoms we observe are rooted in a fundamental cause called behavior of the objects involved. Unless we comprehend those objects we will keep fighting symptoms with steroids, recycling problems, and creating economic and financial crises. →']);" class="more-link">Continue reading

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by Enrico Colombatto

An attempt by the European Commission to harmonise tax policy across all European Union countries could scare off business based in Europe. It could also deter entrepreneurs and long-term investment as Brussels bureaucrats crack down on international companies who look to benefit from the different tax regimes in various EU countries.

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scandinavian

 The recently released book Scandinavian Unexceptionalism shows that the leftist idealization of Scandinavian welfare policies is flawed. In fact, the Scandinavian experience is a great case for limited government and free markets. Scandinavians countries are not prosperous due to large welfare states, but rather as a combination of free-market policies, social cohesion and nordic norms. In fact, Scandinavian countries had high living standards, long lifespans and equal income distribution before the transition to high-tax nations.

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By Sydney M. Williams

With his encyclical, “Laudato Si” (Be Praised), the Pope stepped into the quagmire that is climate change. While it is a theological treatise, he joined his infallible voice with those who regard man as the principal cause of climate change. He placed blame on the “developed” world, by which he means the English-speaking nations, Western Europe and Japan. He wrote: “The exploitation of the planet has already exceeded acceptable limits and we have still not solved the problem of poverty.” There was no mention that capitalism and democracy have done more to reduce poverty than anything else, including religion.

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By Roland Fritz

A few days ago, the Centre for Global Prosperity (CGP) at Hudson Institute presented a study that evaluates how easy it is to engage in philanthropic activities in different places of the world, thereby comparing 63 countries.

Generally speaking, there is a relatively clear relationship between a country’s GDP and the opportunities for philanthropy in it – that is why rich countries like the Netherlands, the United States and Canada lead the ranking.

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by Michael Wohlgemuth

Many challenges face UK Prime Minister David Cameron if he wants to keep the UK in a substantially reformed European Union. Some EU-reforms under the labels ‘flexibility’, ‘competitiveness’ and ‘democratic accountability’ are negotiable and would benefit the EU as a whole. This would help to win the EU-referendum for the ‘in-camp’. But British voters would also look at the economic and political consequences of the UK leaving. These depend on what arrangement the UK would be able to negotiate with the EU after an ‘out’ referendum. There are more likely to be economic net-costs of Brexit and, politically, Brexit could trigger another referendum in Scotland on whether to leave the UK.

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by John Charalambkis

Rembrandt’s painting portraying the return of the prodigal son is an amazing and monumental piece of art. It signifies the most joyful moment of reuniting a family and starting a new chapter/direction in everyone’s life. No matter how many times someone has seen the original s/he cannot refrain from seeing it again at the Hermitage if they happen to be in St. Petersburg. I have a copy in my living room, and I often go close by to see the amazing hands of the father-figure in the picture. Here is a closer look at those hands:

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By Sydney M. Williams

The United States is not a Socialist country, but it has been trending toward paternalism for decades. About 35% of the nation’s GDP is a product of federal, state and local spending. Dependency on government has grown. Two-thirds of the federal budget is now dedicated to entitlements. Excessive regulation has hampered small-businesses, and annually costs consumers billions of dollars in hidden fees. Nanny state antics have had little effect on youth obesity, but have made a significant dent in their parent’s wallets.

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By Sydney M. Williams

Overwhelmingly, voters in Turkey denied President Recep Tayyip Erdoğan’s bid to turn what is largely a ceremonial office into an executive presidency with enhanced powers.  According to the New York Times, voter turnout topped 86%, a high level of participation in any election. Mr. Erdoğan’s Justice and Development Party (AKP) entered the election with 327 seats in the 550-seat Parliament. It emerged with 258 seats.

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