POLICY Magazine

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Vol. 17 No. 2 (Winter, 2001)

Vol. 17 No. 2 (Winter, 2001)
INTERVIEW: The Permanent Fight for Freedom

Former Czech Prime Minister Vaclav Klaus looks back on the past ten years of postcommunist transition from a command to a market economy, and look ahead with some apprehension as the Czech Republic prepares to join the European Union.

COMMENT: Can a Liberal Society Tolerate Illiberal Elements?
Chandran Kukathas

Interpretation of the libertarian first principle- a belief in individual freedom- presents a difficult philosophical choice between two quite different societies, and there is no third way, theoretically speaking. Libertarians must bite one bullet or another.

COMMENT: The Case Against 'Corporate Social Responsibility'
David Henderson

Corporate social responsibility (CSR) is an appearling concept, but the current widely-held doctrine of CSR is deeply flawed. It rests on a mistaken view of issues and events, and its adoption by businesses would reduce welfare and undermine the market economy.

COMMENT: 'Stakeholder' Theory
Samuel Gregg

The world ‘stakeholder’ is an unsubtle play on ‘stockholder’, implying an entitlement not unlike ownership. But if good corporate governance is about maximising shareholder value, then stakeholder theory seems bound to distract managers and directors from achieving this end.

REVIEW ARTICLE: Economic Literacy in One Mighty Lesson
Wolfgang Kasper

Basic Economics: A Citizen’s Guide to the Economy by Thomas Sowell (Basic Books, 2000.) In the non-technical introduction to economics, steeped in the Austrian evolutioanary-institutionalist tradition, American economist Tom Sowell tackles head-on populist misconceptions about, and postmodern criticisms of, economics.

FEATURE: The Brain Drain
Roger Kerr

Why New Zealanders Are Voting with Their Feet: People decide to migrate on the basis of push and pull factors, in which an overall judgment of whether a country is going in the right direction is an important element. The current outflows of people from New Zealand suggest that policymakers have taken a wrong turn.

FEATURE: The Right Trap
Bob Carr,
Gary Sturgess

A bill of rights would unduly politicise the judiciary by turning judges into policymakers. The main benificiaries would be lawyers, who profit from the legal fees it generates, and the criminals who manage to escape imptisonment on the grounds of a technicality.

BOOK REVIEW: Cyberselfish
Heath Gibson

Cyberselfish by Paulina Borsook (Perseus Book Group, 2001.)

BOOK REVIEW: The Representation of Business in English Literature
Simon Caterson

The Representation of Business in English Literature introduced and edited by Arthur Pollard (Institute of Economic Affairs, 2000.)

FEATURE: De-nationalising Money
Jerry Jordan

The Emergence of ‘Brand Name’ Capital: The falling costs of information and communication technologies make it increasingly easy for individuals to compare the quaslity of money and therefore to choose whatever currency they wish to use as a medium of exchange and as a store of value- if governments let them.

FEATURE: The Politics of Envy
Helen Hughes

Contrary to widespread belief, the real value of low incomes in Australia has risen while the proportion of people living below the poverty line has fallen.

BOOK REVIEW: Guide to the Perfect Latin American Idiot
Wolfgang Kasper

Guide to the Perfect Latin American Idiot by Plinio Apuleyo Carlos, Alberto Montaner and Alvaro Vargas Llosa, Introduction by Mario Vargas Llosa (Madison Books, 2000.)

BOOK REVIEW: Creating Unequal Futures: Rethinking Poverty, Inequality and Disadvantage

Creating Unequal Futures: Rethinking Poverty, Inequality and Disadvantage Edited by Ruth Fincher and Peter Saunders (Allen & Unwin, 2001.)

BOOK REVIEW: Safe Enough? Managing Risk and Regulation
Alan Moran

Safe Enough? Managing Risk and Regulation Edited by Laura Jones (The Fraser Institute, 2000.)

BOOK REVIEW: The Riddle of the Modern World
Roger Sandall

The Riddle of the Modern World by Alan Macfarlane (Macmillan Press Limited, 2000.)

Letters to the Editor
Christopher Sheil,
Gary Sturgess

Author Christopher Sheil takes exception to Gary Sturgess’ review of his book Water’s Fall: Running the Risks with Economic Rationalism; and Sturgess responds.

BOOK REVIEW: Arts and Economics
Simon Blount

Arts and Economics: Analysis and Cultural Policy by Bruno S. Frey (Springer Verlag, 2000.)

BOOK REVIEW: In Defence of Globalisation
Ben Ross

In Defence of Globalisation by Keith Suter (UNSW Press, 2000.)

SCHOOLS BRIEF: The Candlemakers' Petition
Frederic Bastiat

An Economic Fable. Candlemakers lobby the French parliament for a law requiring the closing of ll blinds to block out sunlight and stimulate the domestic candle industry.

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