Predrag Rajsic is a postdoctoral researcher in the Department of Food, Agricultural, and Resource Economics at the University of Guelph in Ontario, Canada. See his blog.
According to the usual justification for government regulation of externalities,almost everything we do is ripe for regulation. Even worse, regulators never admit their prohibitions prevent an incalculable number of positive externalities.
Unable to compete with cheap, government-subsidized services designed for the low end of the market, entrepreneurs find they must turn to higher-end customers who will pay more. Some wrongly interpret this as proof that markets are more expensive than government services.
One of the most common ways in which cronyism manifests itself in Serbia is when professional degrees and employment positions are awarded based on political party membership , and not on the basis of professional expertise.
If the payoff is high enough, universities are happy to award degrees based on political connections, writes Predrag Rajšic. This audio Mises Daily is narrated by Robert Hale.
