VOLUME 4(2) • 2005
THE EFFECT OF GLOBALIZATION ON THE SKILL PREMIUM
ABSTRACT. Globalization offers a simple and immediate possible explanation for prominent stylized facts regarding the skill premium and the presence of skill-biased technical change. Exogenous capital inflow decreases labour supply and increases welfare only if the elasticity of substitution between..
MARX SI CAPITALISMUL
ABSTRACT. Marx depicts the worker under capitalism as suffering from four types of alienated labour: i) from the product, which as soon as it is created is taken away from its producer; ii) in productive activity (work) which is experienced as a torment; iii) from species-being, for humans produce b..
MARKET STRUCTURE AND CAPITAL MARKET EQUILIBRIUM
ABSTRACT. Market share turbulence among top dealers is a form of competition that narrows bid-ask spreads, especially for stocks with less competitive market structure. Once the default-related variables are controlled for, bond betas or sensitivities to aggregate equity market risks have very limit..
CRITICA MARXIANA A PRINCIPIILOR ECONOMIEI POLITICE LIBERALE
ABSTRACT. Marx argues that capitalism is distinctive in that it involves not merely the exchange of commodities, but the advancement of capital, in the form of money, with the purpose of generating profit through the purchase of commodities and their transformation into other commodities which can c..
BANKS AND FINANCIAL MARKETS
ABSTRACT. Banks in countries with stricter regulation have a lower charter value, which increases their incentives to follow risky policies. Larger banks appear to have the advantage in credit card lending, a market characterized by impersonal relationships and standardized loans. Real financial dat..
PRIVATIZATION AND BANK PERFORMANCE
ABSTRACT. An increasingly common outcome of large-scale bank privatization programs is foreign ownership of many nations' banking sector, which evidence suggests is usually positive in an economic sense, but problematic politically. There is little in the empirical record to suggest that privatizati..
DREPTATE, EGALITATE, LIBERTATE
ABSTRACT. Rawls's general conception of justice holds that the basic structure of society should be arranged so as to maximize the long-run expectation of primary goods for the group of members of society that is worst off in this respect. The adherents of strict equality started a search for some c..
RELATIVISMUL JURIDIC SI SPIRITUL LEGILOR
ABSTRACT. The nature of law itself precludes humane, individualized decisions: ideal law is based on the logical derivation and procedurally correct application of legal principles, devoid of subjectivity and emotion. The fact that people are less willing to trust poitical and legal authorities than..
SOCIETATEA CA REALITATE SUBIECTIVA
ABSTRACT. Every individual starting a life should get a right to use equal amount of natural resources as everybody else. What an individual makes of these resources afterwards depends on his personal characteristics, whatever they are, and bears full responsibility for this. Left Libertarianism wan..
UNIVERSAL JURISDICTION AND INTERNATIONAL CRIMINAL LAW
ABSTRACT. Universal jurisdiction was designed to reduce impunity for most serious crimes that are of international concern. Members of the international community share common goals and fundamental values that shape an international ordre public. Amnesties and pardons in favor of persons who have co..
MUSIC, PERFORMANCE AND EMOTION
ABSTRACT. If the details of a performance are worked out according to historical practices, the character and emotional meaning of the piece will automatically come out. Mozart's understanding of the human voice is evident in his operatic style which is reflected in many of his keyboard works. Schön..
EXISTENCE AND CONSCIOUSNESS
ABSTRACT. Husserl claims the possibility of a universal neutrality modification affecting every positing act. Bolzano uses "existence" and "being" synonymously with "actuality", and accordingly says of non-actual objects that they do not exist, but that they merely are. Heidegger writes that Dasein ..