Rent-a-Worker

Article Abstract:

Nippon Steel, Japan's largest steel company, plans to reduce its capacity by fifteen per cent over the next two years. Currently it is lending surplus workers to other manufacturers to ease the transition. Although Japan's five largest steelmakers suffered their first losses in years in 1983, analysts expect a return of profits by the second half of 1984. Steel demand is growing, but the Japanese steel makers fear the South Korean producers who offer lower prices. Nippon Steel hopes to reduce its freight costs by forming its own shipping company. China is a growing market for Japanese steel. The powerful Japanese steel unions have been weakened.

Japan, Steel industry, International competition (Commerce), International competition (Economics), Sales, Industrial capacity

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Time for revisionism on rent control?

Article Abstract:

Neoteric rent controls of the second-generation are very dissimilar to those imposed after World War II, therefore needing separate analysis for precision in interpretations. Their analysis should keep in mind the imperfectly competitive nature of the housing market. The regulations adopted will determine the benefits of these rent controls. Second generation rent controls should be evaluated through case-by-case empirical evidence for efficiency.

Social aspects, Evaluation, Housing, Rent control

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Rent-seeking and the inefficiency of non-market allocations

Article Abstract:

Classroom exercises are a way of teaching economics which allow students to interact and take decisions. Rent-seeking behavior has social costs, and an exercise can be used to allow students to assess the extent to which it is possible to dissipate rent. Lotteries for cellular phone licenses are one example that can the used to illustrate the topic for students. Certain things are not auctioned off, such as the location of new defense bases.

Economic aspects, Study and teaching, Licenses, Lotteries, Economic rent

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