(54) Finally, in 2004, Congress enacted FETRA to address quota holders' concerns.
FETRA provides for an end to the tobacco quota system as well as an end to the price support program in favor of a free-market system.
(62) Although this might imply that quota holders have an option to reject the Buyout Payments, thereby obviating a takings claim by giving a quota holder a choice, FETRA negates the value of the quota rights regardless of whether the "offer" is accepted.
(65) Therefore, it remains critical that the Buyout Payments constitute "just compensation" if FETRA effects a taking of the quota holders' property interest in their quota.
Instead, the property interest taken by FETRA is the right to produce and sell a certain proportion of the tobacco prescribed by the secretary for a given year.
For instance, John Robinson believes that financial development is a result of economic growth and the direction of causality is from economic growth to financial development; in other words, by the increase of economic growth, the supply of intermediaries and financial services increases (Fetras et al., 2010).
Economists who consider that development of financial intermediaries is effective on economic growth argue that financial system has the main role in allocating resources to projects with higher efficiency; for instance, Goldsmith (1962), Mckinan (1973) and Shaw (1973) believe that financial markets have a key role in economic growth and the difference in quality and quantity of provided services by the financial institutions could explain an important part of the difference of growth rate between countries (Fetras et al., 2010).
A pesquisa foi aprovada pelo Comite de Etica da Faculdade de Filosofia, Ciencias e Fetras
de Ribeirao Preto, Universidade de Sao Paulo (FFCFRP-USP).
This delightful recording has the added feature of showing how composers influenced one another: here we have the forgotten North German composer, Oscar Fetras
, who imitated Johann Strauss's appearance and style.