Economics and Finance

1503 Submissions

[5] viXra:1503.0229 [pdf] replaced on 2017-04-11 02:25:27

The Internet – the Creator of Public Goods?

Authors: Blair D. Macdonald
Comments: 5 Pages.

Media and entertainment industries are in decline; profitability down due to ‘freer access on computers. Is the internet producing ‘Public goods’ from what were Private goods? With respect to these goods and the Internet, the assumption used to classify ‘Private goods' and Public goods in an economy (the degree of excludability and rivalry) was analysed, and the respective industries tested for being Public Goods. It was concluded these goods within the entertainment/media industries are slowly being repositioned from what are termed 'private' or 'club'/'congestion' goods, to their extreme opposite, Public goods. The ‘free rider problem’ of Public Goods has become the ‘free copy problem’ with respect to these goods. It was hypothesised the Internet was the cause. It was discussed Public Goods – by tradition – failure in the market, and are therefore provided by Government: is this to be the destiny of Internet goods, or any item on the internet subject to file sharing or digital copying in any form including – at the extreme – the human genome, solid object 3D printing, and even money in the form of bit-coins?
Category: Economics and Finance

[4] viXra:1503.0203 [pdf] submitted on 2015-03-26 23:28:11

Energy and Forces in Economics

Authors: Wan-Jiung HU
Comments: 3 Pages.

Besides gravity model of trade, many other physic force and energy laws can be applied to explain economics phenomenon. There should be Coulomb force, magnetic force, and impelity force to explain the business activity between two nations, industries, or companies. And, energy can also be applied for the above purpose for economic activity.
Category: Economics and Finance

[3] viXra:1503.0202 [pdf] submitted on 2015-03-26 23:31:22

Conservation of Money

Authors: Wan-Jiung Hu
Comments: 2 Pages.

Law of conservation is the key concept in physics world. We can also apply the conservation law in economics phenomenon. Here, I use the conservation of money to explain the stock market behavior. Continuity equation is provided for this model.
Category: Economics and Finance

[2] viXra:1503.0002 [pdf] submitted on 2015-03-01 02:43:26

Pork-Barrel Spending under Cournot Legislators and the Quantity Equation

Authors: Gerasimos T. Soldatos
Comments: 4 Pages.

This note makes the following two points based on Cournot utility functions of the legislators and on the government budget constraint viewed from the perspective of the equation of exchange. Without logrolling, i.e. with different perceptions of the budget constraint, there can be such a legislature preference structure that can turn a pork-barrel project into welfare enhancing public expenditure depending on economic circumstances. With logrolling, i.e. with agreement at least regarding the size of the budget, the “pork” may be taken out of the project regardless the economic conjuncture. These results are independent of the utility function used, while the use of the quantity equation serves only as the simplest macroeconomic framework in which the two general points herein may be made.
Category: Economics and Finance

[1] viXra:1503.0001 [pdf] submitted on 2015-03-01 02:49:50

Bureaucracy, Underground Activities, and Fluctuations

Authors: Gerasimos T. Soldatos
Comments: 8 Pages.

This is a note on corruption and underground economy in a Kaldor-type model of the business cycle. It appears that when the economy is booming and underground activities seek to enter the official economy, bureaucrats have the upper hand but until underground businesses cannot tolerate bureaucrats anymore and start reentering the informal sector. This is what checks the growth of the official output and gets it into its downward phase. Once in this phase, bureaucrats lose control and just follow passively the developments in the economy. At the trough of the contraction, official activities reach their nadir whereas the unofficial ones are at their zenith and seek to buy whatever has been left from the staggering official businesses. This is what leads to recovery in the absence of stabilization policies.
Category: Economics and Finance