This paper aims to evaluate the potential for electricity and ethanol production in Central America using sweet sorghum as an energy crop. Three scenarios were built to analyse sweet sorghum production in terms of the land where it can be cultivated: cropland, sugarcane land in fallow and land...

It is frequently suggested that regulation by contract can effectively substitute for regulation by a specialist regulatory agency for utility service industries. We examine these arguments and consider legal aspects and the historical experience of the UK as regards railways and electricity. We...

Building on the view that financial systems from contract and trading structures through regulation are artifacts of law and politics, this paper analyzes the fundamental reasons for the observed hierarchy in all financial systems. Why are financial systems hierarchical? The answer offered here...

Contribution to the panel session at the Hoover Institution conference on “Frameworks for Monetary Policy for the Next Century,” May 30, 2014.