Government v. Coase: the case of smoking

Article Abstract:

The insights of economist Ronald Coase found in his article on social cost point out the fallacies in the government's arguments to increase the tax on smokers. The government's reasons are that the smokers are not shouldering the costs of their habit in terms of productivity, health care demands and secondary smoke. In fact, smokers do shoulder the costs. Anti-smoking groups analyze the costs smokers impose on them, but do not analyze the costs they impose on smokers.

Laws, regulations and rules, Smoking, Externalities (Economics)

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Politics as the art of confined compromise

Article Abstract:

Politics has been tagged as the 'art of compromise.' Voters tend to vote for politicians who share their views, while diverging officials are less likely to garner higher votes. However, such a vote-reward system actually prevents politicians from total and honest compromise. The opposite situation is true for the private markets, as more people are willing to bargain for desired products or services.

Political aspects, Markets (Economics), Politics, Voting

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The Internet, the market, and communication: don't ignore the shoe while admiring the shine

Article Abstract:

The Internet and the electronic commerce it makes possible have often been seen as revolutionizing capitalistic forces. While the Internet has considerable potential to change business methods, market forces of private property and voluntary exchange remain the most impressive communication network yet developed.

United States, Evaluation, Economic aspects, Internet, Electronic commerce, E-commerce, Capitalism

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