Research on the presence of consumer racial discrimination in the baseball labor and memorabilia markets has produced contradictory empirical results. While studies of baseball salaries-find no evidence of discrimination, Nardinelli and Simon (1990) and Andersen and La Croix (1991) use data from...

For more than 70 years, a strand of Keynesian thought has maintained that the cure for economic depressions is merely a matter of simple arithmetic. According to these Keynesians, the government need only increase spending by an amount equal to the ratio of the output gap to the fiscal...

Joplin, Missouri, and Tuscaloosa, Alabama, were both devastated by deadly tornadoes in 2011, but have pursued different approaches to recovery. Tuscaloosa followed the new normal path of developing a detailed recovery plan, while Joplin eschewed planning and allowed businesses and homeowners to...

An EF-5 Tornado struck Joplin, MO on May 22, 2011, leaving a twenty mile long path of destruction in its wake. An estimated 7,500 homes and over 500 businesses were damaged or destroyed, with damage estimated at up to $3 billion. Joplin has seen a rapid recovery despite the extensive damage. The...

The failure of economic central planning in the Soviet Union is interpreted as evidence of the impossibility of efficient central planning. But the deficiencies of the Soviet economy might have resulted from other factors, such as Soviet history, culture, leadership, and/or unique circumstances,...

Medicaid was established in 1965 as a joint state and federal program to provide medical insurance to Americans who are poor and have disabilities, and it has grown from 1percent to 3 percent of GDP. The source of Medicaid s growth over the past 50 years must inform efforts to reform the program...

Desire for mastery is an important human motive distinct from the profit motive. In business, mastery involves a product or service, and validation occurs through comparison with other entrepreneurs' products. Consumers' choices validate entrepreneurs' performance. We term an entrepreneur's...

State and local governments have used targeted incentives to recruit businesses for decades. The relationship between incentives and business formation, employment, and economic growth has been studied in detail. This paper extends this literature by examining the relationship between...