Public trust in government to promote the general interest has declined sharply since the early 1960s. Almost all those commenting on the trend see it as detrimental to government's ability to perform. We recognize that up to some level, trust does improve government performance, but beyond that...

While entrepreneurs benefit from unrestricted free entry into markets, they have a time-inconsistent incentive to lobby for government entry restrictions once they become successful. Bad political institutions yield to these demands, and growing barriers are placed on domestic and international...

All countries have people with an entrepreneurial spirit, but in far too many of them their talent and drive lie fallow. We argue that the most fertile soil for the seeds of entrepreneurship consists of the freedom and informed discipline that characterize market economies. In markets, freedom...

Prisoners’ dilemmas that exist in politics often allow leaders to benefit themselves through political actions harmful to their group’s interest. We develop a dynamic prisoners’ dilemma based on political competition, with the choices being to lobby (non cooperative choice) or not to lobby...