The growing recognition of the extent to which institutions determine economic outcomes has been one of the key developments in economic research and policy analysis in the last two decades. At the same time, the entrepreneur has made a comeback, resurrected as one of the prime value creators in...

1. Introduction -- 2. A Nation of Immigrants? -- 3. The Economics of Migration -- 4. A Moral Superpower -- 5. The Long Run -- 6. Smoldering Concrete -- 7. Inequality -- 8. Parallel Societies -- 9. Social Exclusion -- 10. Immigration and Causality -- 11. Law and Order -- 12. Immigration and Crime...

We study the effect of taxation on entrepreneurship, investigating how taxes affect both the number of start-ups and their average quality. We show theoretically that even with risk neutral agents and no tax evasion progressive taxes can increase entrepreneurial entry, while reducing average...