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The Second Coming in Albania This Article is About: Business Plan Financial by Sam Vaknin, Ph.D., Sam. Blessed with Chinese GDP growth rates (7-8% annually in each of the last 3 years) and German inflation (4%, down from 32% in 1997, mostly attributable to increases in energy and housing costs), it is easy to forget Albania's Somali recent past.
In...
Monitoring Macedonia This Article is About: Financial Planning Advisor by Sam Vaknin, Ph.D., Sam. Close to 500,000 people - one in four - live under the poverty line in a country where the average monthly salary is less than 150 US dollars. More than one in three members of the workforce are chronically unemployed. With inflation up 5.5% in the...
Hawala, or The Bank That Never Was This Article is About: Bmw Financial Service by Sam Vaknin, Ph.D., Sam. I. OVERVIEW
In the wake of the September 11 terrorist attacks on the USA, attention was drawn to the age-old, secretive, and globe-spanning banking system developed in Asia and known as "Hawala" (to change, in Arabic). It is based on a short term,...
The Macedonian Lottery This Article is About: Bmw Financial Service by Sam Vaknin, Ph.D., Sam. Every conflict has its economic moments and dimensions. The current conflict in Macedonia perhaps even more so.
The USA and its Western allies regard Macedonia as a bridge between Greece, Bulgaria, Serbia and Albania. Hence the EU's plans for the...
The Myth of the Earnings Yield This Article is About: Financial Planning Firms by Sam Vaknin, Ph.D., Sam. Abstract
A very slim minority of firms distribute dividends. This truism has revolutionary implications. In the absence of dividends, the foundation of most - if not all - of the financial theories we employ in order to determine the value of...
Lessons in Transition This Article is About: Christian Financial Services by Sam Vaknin, Ph.D., Sam. Q: What have been the most successful approaches to attracting direct foreign investments: offering prospective investors tax breaks and similar benefits, or improving the overall investment climate of the country?
Empirical research has...
Economic Free Zones in Macedonia This Article is About: Free Financial Planning by Sam Vaknin, Ph.D., Sam. Question: Dr. Vaknin – is it true that you are the father of the Law of Free Economic Zones?
Answer: I participated in the dedicated and professional team, from many ministries and state organs, which prepared the law. The initiative –...
The Predicament of the Newly Rich This Article is About: Christian Financial Services by Sam Vaknin, Ph.D., Sam. They are the object of thinly disguised envy. They are the raw materials of vulgar jokes and the targets of popular aggression. They are the Newly Rich. Perhaps they should be dealt with more appropriately within the academic discipline of...
Dividing The Loot This Article is About: Fairfield Financial Services by Sam Vaknin, Ph.D., Sam. It is when the going gets better, that the going gets tough. This enigmatic sentence bears explanation: when a firm is in dire straits, in the throes of a crisis, or is a loss maker – conflicts between the shareholders (partners) are rare. When...
Public Sector Economies in Transition This Article is About: Financial Planning Firms by Sam Vaknin, Ph.D., Sam. In the previous article, we described the various methods developed in the West to cope with the ever-burgeoning public sector.
Yet, economies in transition everywhere in the world have learned a lesson the hard way: not everything that is Western...
The Criminality of Transition This Article is About: Financial Planning Manager by Sam Vaknin, Ph.D., Sam. Lecture given at the Netherlands Economic Institute (NEI) on 18/4/2001
Human vice is the most certain thing after death and taxes, to paraphrase Benjamin Franklin. The only variety of economic activity, which will surely survive even a nuclear...
Market Impeders and Market Inefficiencies This Article is About: Fairfield Financial Services by Sam Vaknin, Ph.D., Sam. Even the most devout proponents of free marketry and hidden hand theories acknowledge the existence of market failures, market imperfections and inefficiencies in the allocation of economic resources. Some of these are the results of structural...
The Distributive Justice of the Market This Article is About: New England Financial Services by Sam Vaknin, Ph.D., Sam. "(1) Each person is to have an equal right to the most extensive total system of equal basic liberties compatible with a similar system of liberty for all.
(2) Social and economic inequalities are to be arranged so that they are both: (a) to the...
The Fabric of Economic Trust This Article is About: Oasis Financial Services by Sam Vaknin, Ph.D., Sam. Economy is called the dismal science because it pretends to be one, disguising its uncertainties and shifting fashions with mathematical formulae. Economy describes the aggregate behaviour of humans and, in this restricted sense, it is a branch of...
The Inferno of the Finance Director This Article is About: Financial Planning Software by Sam Vaknin, Ph.D., Sam. Sometimes, I harbour a suspicion that Dante was a Financial Director. His famous work, "The Inferno", is such an accurate description of the job that it cannot be otherwise. He is fervently hated by the workers. He is thoroughly despised by the...
The Blessings of the Black Economy This Article is About: Certificate Financial Planning by Sam Vaknin, Ph.D., Sam. Some call it the "unofficial" or "informal" economy, others call it the "grey economy" but the old name fits it best: the "black economy". In the USA "black" means "profitable, healthy" and this is what the black economy is. Macedonia should count...
To Grow Out Of Unemployment This Article is About: Peak Financial Services by Sam Vaknin, Ph.D., Sam. There is a connection between economic growth and unemployment. There is a connection between growth and inflation. Therefore, commonsense (and financial theory) goes, there must be a connection between inflation and unemployment. A special measure...
Liquidity or Liquidation This Article is About: Peak Financial Services by Sam Vaknin, Ph.D., Sam. Large parts of the world today suffer from a severe liquidity crisis. The famed globalization of the capital markets seems to confine itself, ever more, to the richer parts, the more liquid exchanges, the more affluent geopolitical neighbourhoods....
The Value of Stocks of a Company This Article is About: Financial Planning Firm by Sam Vaknin, Ph.D., Sam. The debate rages all over Eastern and Central Europe, in countries in transition as well as in Western Europe. It raged in Britain during the 80s: Is privatization really the robbery in disguise of state assets by a select few, cronies of the...
Making Your Workers Your Partners This Article is About: Rose Financial Services by Sam Vaknin, Ph.D., Sam. There is an inherent conflict between owners and managers of companies. The former want, for instance, to minimize costs - the latter to draw huge salaries as long as they are in power (who knows what will transpire tomorrow). For companies traded...
