The Belt and Sino-European Relations


In the previous post, Silk Road- Alternative Governance, we stated that “some experts claim there is a deeper and more competitive objective of modern ‘Silk Road’. They claim that the initiative is a Chinese grand strategy towards Europe, Asia, and Africa…” The Silk Road Initiative (The Belt) is a currently vague but evolving, long-term vision of China for Eurasian infrastructural improvement...

Silk Road- Alternative Governance?


Arguably, the essence of the “Silk Road Economic Belt” is to provide an equal consideration to both the East and the West, considering equivalently the North and the South, finding an equilibrium for the land and the sea, and linking domestic with cross-border.  This is the novelty and priority of China’s peripheral diplomacy and a strategic support and deliberate guarantee of the “China Dream”...

Behavioral Analysis of Public Policy


While a part of public policies deals with market and government failures which are highlighted by welfare economics and public choice economics respectively, recently surged trend is the impact of ‘individual failure’ on the public economics. Suppositions about psychology/behavior are a crucial part of the policymaking. An analyst may customize the problems defined, set individual objectives and...

If you are not paying for it, you are the product.


Currently we are in the era of Internet of things (IoT) and as we can see the demand, supply and exchange of personal data has been increased exponentially. Despite the benefits of these data, they could make negative effects for firms and individuals, which are mainly associated with privacy issues. individuals claim to be concerned about these privacy issues, although it seems that their...

Corruption- can it be avoided?


  In Principal-Agent problem, agent serves (or fails to serve) the interests of a principal. The action of agent on behalf of his principal requires some discretion. There are situations that include 3rd party players (persons or corporate identities) who gains/loses by the action of the agent. There are regulations, violation of which causes a possibility of a cost (as a penalty) being...

Political Economy- A Science


I am being amazed by the ingenuity of John Stuart Mill since I’ve been reading his works, i.e., ‘On Liberty’. Also mentioned before, John Mill, in his Principles of Political Economy, argued that economics was not the “dismal science” that its radical and literary critics had supposed. He has put quite an effort on explaining his view on the Definition and Method of Political Economy. At his...

Boserupian Evolution of Agriculture

credit: TheDialogue

Boserup argues that the main stimulus to development of agriculture and productivity is the population growth. Her argument was an opposing view against the Malthus and Ricardo, who developed the macroeconomic theory of the relationship between demographic and agricultural movement in Europe. Mathusian theory claimed that “a population can never increase beyond the food supplied necessary to...

Do Policymakers’ decisions lead to an efficient allocation?


Usually, voluntary exchange without any external intervention leads to an efficient allocation of goods and services under the ideal market conditions. This is justified by the fact that prices coordinate the activities of buyers and sellers and transmits necessary information about the strength of demand and supply. Nonetheless, this type of efficiency is not an ideal one, because there are...

John Mill’s On Liberty


Persons of genius, it is true, are, and are always likely to be, a small minority; but in order to have them, it is necessary to preserve the soil in which they grow. – J.S.Mill Ultimately, while striving to get through the each subsequent day, I’ve managed to finish the ‘On Liberty’ by John. S. Mill. If my memory does not fluctuate too much from reality, I saw this...