Amartya Sen's wide-ranging book grasps a point ignored by many economists. Economists are generally alive to the virtues of markets, and few since the collapse of communism have a good word to say about central planning.
How rational are humans? Many important implications hinge on this seemingly innocuous question hinge, for not only economists, but all social scientists.
In his article “Natural Law and the Jurisprudence of Freedom,” my friend and colleague Frank van Dun offers two options as my possible categorizati
In attempting to promote the libertarian viewpoint, particularly in its anarchic variety, one is faced with a variety of problems.
The sort of omission that is punished by statute is neglect of a duty or obligation.
Can anyone take seriously the question posed by the title of this paper? History clearly reveals the following facts.
There is perhaps no greater confusion in all of political economy than that between libertarianism and libertinism.
Supporters of Kaldor-Hicks believe it useful to have a quantitative measure to assess the efficiency of different situations. Although it may appear convenient to be able to judge policies
Although most economists model individual behavior using comparative statics, that approach ignores several important aspects of human action. How do we account for people having opposite responses to the same price change?
Pioneering sociologist William Graham Sumner (1840–1910) was a prolific and astute historian of the early American republic. His work is informed by both his classical liberalism and his understanding of economics. He authored eight major works including major biographies and thematic studies concentrating on the vital subjects of currency, banking, business cycles, foreign trade, protectionism, and democratic politics. This article discusses Classical Liberalism and Sumner's academic philosophy.
