Iain McGilchrist richly explains the right and left hemispheres of the brain, how each functions and what each tends to do. This paper serves, firstly, as a primer to McGilchrist’s fascinating exposition. Second, it offers a formulation that uses a spiral to structure the iterative and layered...

A characteristic feature of economic development is the ever changing structure of consumption patterns. Reducing the explanation of this phenomenon to changing prices, finally caused by changes in the availability of goods (or characteristics), would neglect a major force driving this change,...

A characteristic feature of economic development is the ever changing structure of consumption patterns. Reducing the explanation of this phenomenon to changing prices, finally caused by changes in the availability of goods (or characteristics), would neglect a major force driving this change,...

This paper makes a simple but underappreciated point: due to the open-ended nature of constitutional entrepreneurship, the personal characteristics of constitutional entrepreneurs — intellect, will, virtues and vices, etc. — directly bear on constitutional change. The paper demonstrates this...

Economic freedom is an important contributor to growth and prosperity within countries and across the globe, as well as a key component of individual liberty in the classical liberal tradition. Many ethicists and social scientists criticise the relative distribution of the benefits of economic...

This paper discusses the establishment of the minimum wage determination process in the early twentieth century Australia, following the institutionalisation of compulsory industrial arbitration between capital and labour. This process led to the 1907 Harvester judgment whereby the Common-...

Ronald Coase merged two traditions in economics, marginalism and institutionalism. Neoclassical economics in the 1930s was characterized by an abstract conception of marginalism and frictionless resource movement. Marginal analysis did not seek to uncover the source of individual human...

Ronald Coase (1910-2013), who sadly died at the remarkable age of 102, made significant contributions to economics based on common sense and the detailed study of his topics. Coase was awarded the Nobel Prize in Economic Sciences in 1991 “for his discovery and clarification of the significance...

Coase’s work emphasized the economic importance of very small markets and made a new, more marginalist form of economic “institutionalism” acceptable within mainstream economics. A Coasean market is an association of persons with competing claims on a legal entitlement that can be traded....

This is a revised and expanded version of an autobiographical essay contributed to the volume "I Chose Liberty: Autobiographies of Contemporary Libertarians" (ed., Walter Block, 2010), collecting autobiographical notes from classical liberal / libertarian academics within economics, political...