Is a monopolized banking sector a threat to democracy? While Oskar Lange and Abba Lerner (1944) recognized that socialism was a threat to democracy, they also held that a tendency towards banking sector monopolization under capitalism would undermine democracy through the inevitable...

Is everything good in political economy incorporated into modern economic theory? With the transition of the art of political economy into the science of economics, there was a significant synthesis of the graduate education curriculum. The prevailing technique in economics, a neoclassical...

Is capitalism a necessary condition for political freedom? Friedrich Hayek argued that capitalism is necessary for political freedom in what is now known as the Hayek-Friedman Hypothesis. While previous empirical work using economic freedom as a proxy for capitalism has somewhat confirmed the...