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Thought To Ponder

My views on government spending can be summarized by the following parable. If you spend your own money on yourself, you are very concerned about how much is spent and how it is spent. If you spend your own money on someone else, you are still very much concerned about how much is spent, but somewhat less concerned about how it is spent. If you spend someone else’s money on yourself, you are not too concerned about how much is spent, but you are very concerned about how it is spent. However, if you spend someone else’s money on someone else, you are not very concerned about how much is spent or how it is spent.
Milton Friedman

  
Mission

The Nassau Institute is an independent, a-political, non-profit institute that promotes economic growth in a free market economy with limited government, in a society that embraces the rule of law and the right to private property.

Vision

To see The Bahamas become the first small, developed, sovereign country in the region, recognized as a model for the world.

Weekly Focus
• Morality of capitalism
Jaana Woiceshyn Ph.,D.
I have written about the aversion to capitalism (including among business students) before. Given all the evidence about the benefits of free markets—such as the rapid economic growth in many Asian countries in the last 30 years due to increased economic freedom (see the new World Trade Organization report here)—one would think that the aversion to capitalism around the world would be waning. [read more]
Hot Topics
• The creation of corruption: A harbinger of VAT?
The Nassau Institute
Neither race nor culture determines whether a nation becomes corrupt. Speakers from Latin America, Africa, Europe and The U.S.A. examined the causes and evidence of corruption in their countries. The recurring observation was that corruption was not a preserve of any ethnic group or nationality. Rather, it is the proliferation of laws, regulations and requirements that make compliance more costly than the alternative of bribing the government official employed to enforce such rules. [read more]
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