The New School of Economics: The Platform and Theory Behind the New Physiocrats by Allan Philip

Author:Allan, Philip [Allan, Philip]
Language: eng
Format: epub
Publisher: Philip Allan
Published: 2018-02-28T16:00:00+00:00

Bankruptcy

When an individual or corporation is unable to pay its debts, delaying bankruptcy or allowing it to become an overly long, drawn-out process, is just delaying the inevitable. While this might seem harmless, it in fact prevents resources from being properly allocated within the economy by delaying them from being sold off to new owners (who may be able to use them more efficiently). Bankruptcy also allows individuals and companies to shed debt, and return more quickly to their essential operations. There is real empirical evidence of this, particularly when comparing the economies of The Netherlands and Belgium, where Belgium recovered faster from the late-2000s recession (despite its more severe bureaucracy) with its significantly more streamlined bankruptcy processes.

The New Physiocratic platform, therefore, proposes time restrictions on bankruptcy cases, backed by significant judicial resources, bureaucratic simplification, and resources for affected employees. This ensures rapid readjustment and reallocation of resources when old businesses die out.

Download

Copyright Disclaimer:
This site does not store any files on its server. We only index and link to content provided by other sites. Please contact the content providers to delete copyright contents if any and email us, we'll remove relevant links or contents immediately.