From Values to Economic Myths

Interview by Abel Hernández, published at Sintetia on September 24 (first part) and 26 (second part), 2012

Benito Arruñada is Professor of Business Organization at Pompeu Fabra University in Barcelona. His research is at the borders of Organization, Economics and Law. He has published a large number of books and scientific articles, and his most recent …

Guidelines to Reform Business Formalities

Over recent years, governments and international organizations have been doing their best to “simplify” business formalities but with little success. They have often been satisfied with reducing the number of procedures and the most notorious costs involved. However, they should have considered all costs – irrespective of their public notoriety – to ensure the reliability and, in general, the value …

Limiting Mortgage Liability Would Be an Error

Arruñada, Benito (2011), “Limiting Mortgage Liability Would Be an Error”, La Vanguardia, March 20, Dinero, 13.

There have been plenty of proposals for limiting debtors’ liability in mortgages. Doing so for existing mortgages would be unfair and rash because it would go against the rule of law. But even for future mortgages it would be a costly mistake. In …

Compulsory No-recourse in Mortgage Lending: A Bad Idea

Arruñada, Benito (2011), “Compulsory No-recourse in Mortgage Lending: A Bad Idea,” Expansión, February 23, 46.

In spite of certain court decisions and statements to the contrary, most judges and observers in Spain consider that, in cases of insolvency, mortgage loans should be foreclosed, applying the debtor’s unlimited liability clause that is typical of mortgages in this country. This means …

Retiring before We Work

Arruñada, Benito (2010), “Retiring before We Work”, Expansión, February 22, p. 46.

The Spanish public has recently received two items of news: we shall live longer, but retire later. The two announcements are connected because we shall have to work longer to finance, amongst other things, the health care expenditure that will help us live longer.

Because of this …