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Full-Text Articles in Social and Behavioral Sciences
Does Capitalism Infringe Property Rights: A Reply To Peter Morriss, Chandran Kukathas
Does Capitalism Infringe Property Rights: A Reply To Peter Morriss, Chandran Kukathas
Research Collection School of Social Sciences
In a research note on 'How Capitalism Infringes Property Rights' {PoliticalStudies, XXXI (1983), pp. 656-61), Peter Morriss attempts to demonstratethat a Nozickian version of rights theory is incompatible with that account ofcapitalism which emphasizes the importance (and value) of entrepreneurialrisk-taking and entrepreneurial failure. Because bankruptcy is an acceptedconsequence of entrepreneurial failure, capitalism, which condonesbankruptcy, in fact condones the violations of the rights of creditors. Thusthose who, like Nozick, defend property rights as sacred and inviolable, 'shouldbe in the vanguard of capitalism's opponents' (p. 657) Since the rights-basedargument for capitalism is that rights can never be legitimately violated, 'oncethe rights theorist …
Intertemporal Extraction Of Mineral Resources Under Variable Rate Taxes, Robert F. Conrad, Bryce Hool
Intertemporal Extraction Of Mineral Resources Under Variable Rate Taxes, Robert F. Conrad, Bryce Hool
Research Collection School Of Economics
Variable-rate taxes are being applied with increasing frequency in the US and other countries. However, their effects typically go beyond those that have motivated their use. The formulation of mineral tax policy should take into account the complete list of consequences.-from Authors
A Physical Interpretation Of The Maximum Likelihood Estimation Of A Linear Functional Relationship Model, Y. V. Hui, Yiu Kuen Tse
A Physical Interpretation Of The Maximum Likelihood Estimation Of A Linear Functional Relationship Model, Y. V. Hui, Yiu Kuen Tse
Research Collection School Of Economics
This paper presents a physical interpretation of estimating the parameters of a linear functional relationship model. The estimates are determined from the stable equilibrium position of a mechanical system. It is found that the estimates obtained from the physical model coincide with the maximum likelihood estimates.