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Free Market Roads
Free-market roads is the idea that it is possible and desirable for a society to have entirely private roads. Free-market roads and infrastructure are generally advocated by anarcho-capitalist works, including Murray Rothbard's ''For a New Liberty'', Morris and Linda Tannehill's '' The Market for Liberty'', David D. Friedman's ''The Machinery of Freedom'', and David T. Beito's '' The Voluntary City''. Arguments for free market roads "Private roads can have no free riders, reducing congestion" The free rider problem has been cited by proponents such as Murray Rothbard as a reason for privatizing roads: since traffic congestion is the result of excess demand for transportation infrastructure, it may be treated as any other economic shortage - in this case, a shortage of roads, lanes, exits, or other infrastructure. Seeing the pricing mechanism of a free market as a more efficient means of meeting demand than government planning (see Economic calculation problem), Peter Samuel, in ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] [Amazon] |
Private Property
Private property is a legal designation for the ownership of property by non-governmental Capacity (law), legal entities. Private property is distinguishable from public property, which is owned by a state entity, and from Collective ownership, collective or cooperative property, which is owned by one or more non-governmental entities. Private property is foundational to capitalism, an economic system based on the private ownership of the means of production and their operation for Profit (economics), profit. As a legal concept, private property is defined and enforced by a country's political system. History The first evidence of private property may date back to the Babylonians in 1800 BC, as evidenced by the archeological discovery of Plimpton 322, a clay tablet used for calculating property boundaries; however, written discussions of private property were not seen until the Persian Empire, and emerged in the Western tradition at least as far back as Plato. Before the 1 ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] [Amazon] |
Soviet Union
The Union of Soviet Socialist Republics. (USSR), commonly known as the Soviet Union, was a List of former transcontinental countries#Since 1700, transcontinental country that spanned much of Eurasia from 1922 until Dissolution of the Soviet Union, it dissolved in 1991. During its existence, it was the list of countries and dependencies by area, largest country by area, extending across Time in Russia, eleven time zones and sharing Geography of the Soviet Union#Borders and neighbors, borders with twelve countries, and the List of countries and dependencies by population, third-most populous country. An overall successor to the Russian Empire, it was nominally organized as a federal union of Republics of the Soviet Union, national republics, the largest and most populous of which was the Russian SFSR. In practice, Government of the Soviet Union, its government and Economy of the Soviet Union, economy were Soviet-type economic planning, highly centralized. As a one-party state go ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] [Amazon] |
Franchise Fee
A franchise fee is a fee or charge that one party, the franchisee, pays another party, the franchisor, for the right to enter in a franchise agreement. Generally by paying the franchise fee a franchisee receives the rights to sell goods or services, under the franchisor's trademarks, as well as access to the franchisor's business processes. Often, the franchisee fee includes some assistance from the franchisor in opening the franchised business. The fee typically consists of a lump sump payment plus ongoing royalties which are typically 5-10% of turnover. Scope By joining a franchise, an investor or franchisee is able to run a business under the umbrella of the franchise. The franchisee must pay a franchise fee, which may become costly. In the United States, it may amount to thousands of dollars. In return, the franchisee may enjoy the use of the franchisor's system and name for a limited time, as well as assistance. Such help includes location assistance for the outlet. The fr ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] [Amazon] |
Profit Margin
Profit margin is a financial ratio that measures the percentage of profit earned by a company in relation to its revenue. Expressed as a percentage, it indicates how much profit the company makes for every dollar of revenue generated. Profit margin is important because this percentage provides a comprehensive picture of the operating efficiency of a business or an industry. All margin changes provide useful indicators for assessing growth potential, investment viability and the financial stability of a company relative to its competitors. Maintaining a healthy profit margin will help to ensure the financial success of a business, which will improve its ability to obtain loans. It is calculated by finding the profit as a percentage of the revenue. \text = = For example, if a company reports that it achieved a 35% profit margin during the last quarter, it means that it netted $0.35 from each dollar of sales generated. Profit margins are generally distinct from rate of return. Pro ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] [Amazon] |
Monopoly Price
In microeconomics, a monopoly price is set by a monopoly.Roger LeRoy Miller, ''Intermediate Microeconomics Theory Issues Applications, Third Edition'', New York: McGraw-Hill, Inc, 1982.Tirole, Jean, "The Theory of Industrial Organization", Cambridge, Massachusetts: The MIT Press, 1988. A monopoly occurs when a firm lacks any viable competition and is the sole Production (economics), producer of the industry's product. Because a monopoly faces no Competition (economics), competition, it has absolute market power and can set a price above the firm's marginal cost. The monopoly ensures a monopoly price exists when it establishes the quantity of the product. As the sole supplier of the product within the market, its sales establish the entire industry's supply (economics), supply within the market, and the monopoly's production and sales decisions can establish a single price for the industry without any influence from competing firms.John Black, "Oxford Dictionary of Economics", New ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] [Amazon] |
Regulation
Regulation is the management of complex systems according to a set of rules and trends. In systems theory, these types of rules exist in various fields of biology and society, but the term has slightly different meanings according to context. For example: * in government, typically regulation (or its plural) refers to the delegated legislation which is adopted to enforce primary legislation; including Land-use planning, land-use regulation * in economy: regulatory economics * in finance: financial regulation * in business, industry self-regulation occurs through self-regulatory organizations and trade associations which allow industries to set and enforce rules with less government involvement; and, * in biology, gene regulation and metabolic regulation allow living organisms to adapt to their environment and maintain homeostasis; * in psychology, self-regulation theory is the study of how individuals regulate their thoughts and behaviors to reach goals. Forms Regulation in the ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] [Amazon] |
