A miniature story about tariffs: A friend was offered the full price of a new helicopter for his low time old one. Seems Taiwan has a 100% duty on new helicopters and a much lower one on used.
High tariffs would develop a new industry of tariff avoidance. My friend is one of the smartest businessmen I know. He had a dirt moving company that did a lot of dirt moving during the housing boom. The company employed 500 workers. He sold the company just before the Great Housing Crash happened.
" surprisingly large numbers of firms have substantial market power,"
Not so surprising if you've been observing the corruption of the judicial system over the last 40 years and influential economists' theoretical contributions to the idea that this is actually a good thing.
A miniature story about tariffs: A friend was offered the full price of a new helicopter for his low time old one. Seems Taiwan has a 100% duty on new helicopters and a much lower one on used.
High tariffs would develop a new industry of tariff avoidance. My friend is one of the smartest businessmen I know. He had a dirt moving company that did a lot of dirt moving during the housing boom. The company employed 500 workers. He sold the company just before the Great Housing Crash happened.
" surprisingly large numbers of firms have substantial market power,"
Not so surprising if you've been observing the corruption of the judicial system over the last 40 years and influential economists' theoretical contributions to the idea that this is actually a good thing.
Another thesis for an Econ Grad: Are contractionary fiscal policies really contractionary? I think so, yes.
Is the title through the end of the work week (Friday the 11th)? Because the "Th" is confusing since it is the 10th.