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Market Inefficiencies

by Pyotr Malatesta

There are several circumstances in which markets are inefficient and fail to allocate resources optimally.
One of the most significant inefficiencies of markets is market failure. Market failure occurs when markets fail to allocate resources efficiently, resulting in an inefficient allocation of resources. This can happen for several reasons, including externalities, public goods, and market power.

IKEA has dismissed the leader of the trade union representing its workers in Poland.

Dariusz Kawka, a leader of NSZZ "Solidarność", was sacked on disciplinary grounds -- in breach of the law. His union activity means that the union needed to be consulted before the company could fire him. That did not happen. The State Labour Inspectorate has confirmed that the sacking of Darius was a gross violation of Polish labour law.

Please take a moment to support the union in its fight to get Darius reinstated. Tell IKEA that it must respect workers' rights -- and the law.

Economic Resource Allocation from ChatGBT

Q: What would be some ways that economic resources could be harnessed to make quality of life better for all?

A: Investment in infrastructure: Economic resources could be used to invest in and improve infrastructure such as roads, public transportation, and access to clean water and electricity, which can greatly improve the quality of life for all members of a community.

The Anti-STEM Party

Tony Abbott (2011): "It's actually pretty hard to do this [implement a price on CO2] because carbon dioxide is invisible and it's weightless and you can't smell it"

Victorian State Election 2022

If the opinion polls and betting markets are to be believed, the Labor Party will be returned to government for a third term on November 26. It is certainly true that in the course of the campaign the Coalition has narrowed the odds, but Labor has started with a significant majority (Labor 55, Coalition 27, Greens 3, Independent 3). A key (and strange) decision of the Coalition was to put Labor last in preferences, even behind extremist parties and the Greens; the last time they did that they elected Adam Bandt, who has been there since.

Victorian State Election Odds

I have gone through the current betting odds on Sportsbet, on the assumption that professional agencies don’t like to lose money. Sometimes, of course, they get it wrong (e.g., late swing to the governing party in the Federal election of 2019), and odds may change over the next several days.

Africa's History: Lest We Forget

Fernando M. Gonçalves

Lest We Forget: On this day in 1884, 13 European nations shamelessly gathered in Berlin to parcel out the African continent like famished school children (on a school trip) haphazardly dividing up a pizza. Great Britain was represented by Sir Edward Malet (Ambassador to the German Empire). The US, the emerging but reluctant superpower, had a delegate - the explorer Henry Morton Stanley.

The Collapsing Liberal Vote in Victoria

The latest opinion poll from Resolve shows Victorian Labor polling at a primary of 42% (1 percent down from four years ago) whilst the Liberals are at 28% (down 7 percent).

The reason for this is relatively simple.

Labor's vote has dipped a little, but where it dips it tends to go to the Greens, which flows back to Labor on a TPP basis.

Minutes to Midnight

The President of Russia, Vladimir Putin, does not believe that Ukrainians are a separate nationality from Russians and therefore re-integrating Ukraine into Russia is justified, regardless of the will of the people who actually live there. This ideological justification is used for the strategic and economic gains that Putin and his allies assume will flow from the annexation of Ukraine, starting in 2014 (with Crimea) and most recently with the "special military operation" of this year.

Myanmar : URGENT ACTION to stop military junta

Since its 2020 coup that toppled Myanmar's democratic government, the military junta has killed more than 2,000 civilians including trade unionists and children, arrested more than 14,000, and displaced more than 1 million people.


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