This paper gives a revised theory of monopoly, on the assumption that the monopolist receives political favours in exchange for extending political support. In one case, the monopoly profit just equals the value of the monopoly's contribution to the government's support. Monopoly output may be...

This paper deals with the problem of achieving growth that will sustain itself over the long term, viewed from the standpoint of the sources of economic growth, the limits to growth, and how growth is affected by government policy choices, as well as the nature of the economy and the nature of...

This note argues that, broadly speaking, democracies have a comparative advantage over dictatorships in keeping rent-seeking costs down by imposing penalties that reduce returns to scale in rent-seeking. Dictatorships have a comparative advantage in restricting the number of rent-seekers through...