Description : Population aging puts significant pressure on social security systems that are based mainly on a pay-as-you-go (PAYG) formula and determined by the political process in which both retirees and future retirees participate. This paper demonstrates that in an economic and demographic steady state, majoritarian democracy overspends on social security. It then shows that in case of demographic shock, the regular majority process can be paralyzed by the development of entrenched interest groups that could lose from majority decisions. Depending on the way these entrenched interests operate, they can be judged more or less desirable from the viewpoint of social justice.
Description : ‘Dollar Chatroom’ is a book of extracts from live, verbatim, internet conversations between Stock Market Traders. Selected to be easily read and entertaining, both on and off topic plus after hours. Including 49 posted illustrations and charts, from the wise and perceptive to the downright bizarre.. . Find out what it is like to sit in front of a computer screen for anywhere between 10 minutes a week and 16 hours a day to earn your living in the company of 1000 other like minded individuals.. . And who your buddies are.. . Choose your weapons.. . Stocks, Indices, Forex, Oil, Metals, Futures, Options, Swaps, ETF’s, CFD’s, FOMC.. . what else ya got..? Includes the 2008 Worldwide Stock Market Crash – The Beginning of the End..? Includes the 2008 USA Presidential Election. Oh, and by the way, don’t forget to take your sunglasses in the plane, right..? There’s always blue sky and sunshine above the clouds.. . And another thing, if you read a funnier book this year, let me know, will you.. ?
Description : Throughout the history of China, many rulers had come and gone. Who are the ones still standing tall in the annals of history as a result of their outstanding contributions and awe-inspiring character? There were the Three Sage Kings and the Five Legendary Rulers who painstakingly laid the foundation for Chinese civilisation. They were followed by luminaries like Emperor Shihuang of the Qin Dynasty who first unified China, Emperor Taizong of the Tang Dynasty who brought unprecedented prosperity to the land, and Emperor Kangxi of the Qing Dynasty who contributed to the progress of the sciences. All these eminent emperors had one thing in common: their love for their people. Who are the other great sovereigns who took personal responsibility for the people's happiness? Read on and find out!
Description : This book unravels the mystery behind Chinese martial arts, or wushu, an exotic branch of traditional Chinese culture. It traces how the rough and ready brawls of Chinese cavemen matured into the polished gongfu of Shaolin and Wudang warriors. But the art of gongfu is more than just martial abilities -- it is also about a philosophy and chivalry code. This volume sheds light on the legend of Bruce Lee, the Yue Maiden Sword and tells you more: * Do the Acupoint Tapping, Light Skills (qinggong), and "straying down demonic paths" that we see in period drama really exist? * What are the various boxing and weapon arts, and the various schools and styles? * Are E'mei Sect, Huashan Sect, Kunlun Sect, Kongtong Sect and Natural Sect documented in Chinese history? This is an easy and entertaining read, and a must-buy for budding martial-art fans. Be dazzled by the power and grace of Chinese martial arts, which stands tall in a class of its own!
Description : Take a fresh look at the Bible while you experience a new translation. The Common English Bible is relevant, readable, and reliable. The result is a new version that the typical reader or worshipper is able to understand. 115 leading biblical scholars from 22 faith traditions and 77 reading specialists in 13 denominations worked on this translation. Contains Apocrypha books.
Description : Tariffs and other policy distortions typically lower real national income relative to what it otherwise would have been for any given rate of factor accumulation. Even while lowering real income, however, policy distortions may raise an economy's real measured growth rate and so, somewhat deceivingly, give the impression that national welfare has benefited from things like tariff protection. This would be an incorrect conclusion. This paper discusses the issue of how protection can affect the rate of growth for a small, open economy. As shown by Johnson (1970), in the presence of exogenously given factor accumulation, tariffs either raise or lower an economy's growth rate (measured by the change in the value of output at world prices), relative to the no-distortion growth rate. We also discuss the relevance of this result for tariff uniformity, "tariff jumping" foreign direct investment, and the empirical literature on trade and growth. Finally we use a numerical simulation model of Egypt to assess whether the costs of its tax distortions have increased or declined over time.
Description : International capital flows from rich to poor countries can be regarded as either too low (the Lucas paradox in a one-sector model) or too high (when compared with the logic of factor price equalization in a two-sector model). To resolve the paradoxes, we introduce a non-neoclassical model which features financial contracts and firm heterogeneity. In our model, free patterns of gross capital flow emerge as a function of the quality of the financial system and the level of protection for property rights(i.e., the risk of expropriation. A poor country with an inefficient financial system but a low expropriation risk may simultaneously experience an outflow of financial capital but an inflow of foreign direct investment (FDI), resulting in a small net flow.
Description : Totalitarianism remains a central concept in political theory, as relevant today as it was in the time of Hitler and Stalin. This book tries to resolve the long-running debates about what totalitarianism is or was, how the term can be applied, and what the future of the concept might be.
Description : In previous books, Holocaust historian Timothy Snyder dissected the events and values that enabled the rise of Hitler and Stalin and the execution of their catastrophic policies. With Twenty Lessons, Snyder draws from the darkest hours of the twentieth century to provide hope for the twenty-first. As he writes, "Americans are no wiser than the Europeans who saw democracy yield to fascism, Nazism and communism. Our one advantage is that we might learn from their experience."