By F. H. Buckley
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Relentless and ominous, the drumbeat echoes around the land: Social safeguard is at the verge of financial disaster. The caution has been repeated so frequently that it has develop into a depressing article of religion for the hundreds of thousands of american citizens who pay Social protection taxes and count on to gather merits sometime. however it is flatly unfaithful.
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For an example of how ﬁrms react to government corruption by moving to other countries, see Amol Sharma, India’s Tata Finds Home Hostile, Wall Street Journal, April 13, 2011. 6. Andrei Shleifer and Robert W. Vishny, Corruption, 108 Q. J. Econ. 599 (1993); Stephen Knack and Philip Keefer, Institutions and Economic Per for mance: Cross- 36 f . h . b u c kle y country Tests Using Alternative Institutional Measures, 7 Econ. & Politics 207 (1995); Rafael L. Porta, Florencio López- de-Silanes, Cristian Pop-Eleches, and Andrei Shleifer, Judicial Checks and Balances, 112 J.
Journalistic debates about social justice are generally framed in terms of payoﬀs to people around today, not those who will come after us, and yet the question of intergenerational justice, of what is owed future generations, for all its uncertainties and confusion is perhaps the principal moral and political issue of our time. 32 f . h . b u c kle y In theory, it would seem, social policies should be time- consistent. That is, the welfare needs of one who lives 100 years from now should count as much as a similarly placed person today.
765 (2009). 25. Rafael La Porta, Florencio López- de-Silanes, Andrei Shleifer, and Robert Vishny, Law and Finance, 106 J. Pol. Econ. , Judicial Checks and Balances, 112 J. Pol. Econ. 445 (2004). On the “legal origins” thesis, see generally Kenneth W. Dam, The Law- Growth Nexis: The Rule of Law and Economic Development 31–35 (2006). 26. S. contract law. S. K. (13th), and France (22nd). 10. 27. S. and Canada are discussed in Seymour Martin Lipset, Continental Divide: The Values and Institutions of the United States and Canada (1990).