In fourth quarter 2015 general budget revenues increased 50.0% y/y up, general budget spending increased 55.0% y/y.The resulting rate of the consolidated budget deficit reached 1.6% of GDP.
In Ukraine, the debates on removing the moratorium on land are being renewed. How will the land reform influence the cost of the land and cost the land rent? What will the land owners gain and loose? This is the angle from which we analyzed the potential consequences of the land reform.
The second part of The Road to Serfdom is about the idea, that competition much better coordinates people’s actions in the society than state regulations. The state should interfere only when market rules do not work: for instance, to secure equality before the law, limit monopolies or protect environment. State officials should not substitute free market forces because to have similar impact they would need to exercise much more power, which would inevitably lead to dictatorship.