This excerpt describes the intellectual journey that I have taken the last half-century from when I began graduate studies in the late 1950s. The early efforts to understand the polycentric water industry in California were formative for me. In addition to working with Vincent Ostrom and Charles...

This paper contributes to the understanding of the diversity of capitalism by combining approaches from comparative political economy and development studies, notably developmental state theory. We show that different types of capitalism react differently to global shocks and offer some support...

This chapter of the Oxford Handbook of Asian Business Systems examines how states influence the structure of national business systems in Asia. It begins with an overview of literature on the state's role with regard to the institutional arrangements of capitalist systems in non-Asian as well as...

This paper combines insights from Ludwig von Mises about the mixed economy and Vilfredo Pareto about non-logical action within a social system to explore some intertemporal dynamics of an entangled system of political economy. Mises explained the inherent instability of the mixed economy. Pareto...

This paper compares and contrasts two visions of political economy. These visions aren't antagonistic, just different. The mixed economy vision associated with Ludwig von Mises and Sanford Ikeda treats politics as intervening into markets. The entangled political economy vision treats politics...

The regulatory state faces a set of paradoxes, in the form of strategies that achieve an end precisely opposite to the one intended. These include: (2) overregulation can produce underregulation; (2) stringent regulation of new risks can increase aggregate risk levels; (3) requiring the best...

The nineteenth century witnessed the triumph of capitalism; the twentieth century saw the bloodiest wars in history. Is there a connection? The paper reviews the literature and evidence. It considers first whether capitalism has lowered the cost of war; then, whether capitalism has shown a...

Die Autoren Clemens Fuest, Udo die Fabio und Gabriel Felbermayr haben die Effizienz staatlicher Eingriffe anhand verschiedener Beispiele untersucht und analysiert, ob man dieselben Ziele nicht mit anderen Mitteln besser und zu geringeren Kosten erreichen könnte. Ihr Fazit: Nicht alles, was gut...