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Persistent link: https://www.econbiz.de/10013493336
The ‘Coase theorem' has long been the idea most commonly associated with Ronald Coase's analysis in The Problem of Social Cost. Yet, Coase frequently argued late in his career that he has been misunderstood, and that the central message(s) of the article lay elsewhere. Though virtually all of...
Persistent link: https://www.econbiz.de/10013049240
This article--designed to give readers unfamiliar with public choice a historical overview and flavor for the kinds of problems considered--is divided into three main sections, "historical origins," the "modern founders of MPE," and a brief description of some "current issues" studied by public...
Persistent link: https://www.econbiz.de/10012656425
. Buchanan. The editorial introductions to these are independently valuable as scholarly works; they shed light on the context in … which the papers, essays, and letters were written and draw important connections across Buchanan’s different writings. In … this essay, I consider Buchanan on classical liberalism, Knut Wicksell, and the role of the economist in light of these …
Persistent link: https://www.econbiz.de/10013292831
The notion social class attains a well-defined theoretical content in the works of the classical political economists, who defined classes on the basis of the specific income form that each category of people (class) obtains. This approach to class constitutes a first form of a 'friendly merger'...
Persistent link: https://www.econbiz.de/10014154049
. In his conversation with James Buchanan, Hayek remarked that the "delusion" that democratic politics is sufficient to … disenchanted with the economic liberalism of Mill. We link Hayek's criticism of Mill with Buchanan's criticism of Hayek, arguing … Buchanan's unhappiness with Hayek. Buchanan rightly supposed, we show, that Hayek's institutional Darwinism left little room …
Persistent link: https://www.econbiz.de/10014057367
provided a springboard for modern public choice analysis as developed in the hands of James Buchanan, Gordon Tullock, and …
Persistent link: https://www.econbiz.de/10014070912
This essay is the first step in a larger effort to understand exactly how and why the marginal revolution gave us a theory of economic policy that evidenced an increased confidence in the ability of governmental policy actions to improve on the performance of the market. This was done via two...
Persistent link: https://www.econbiz.de/10014029135
F. A. Hayek’s The Constitution of Liberty has had a profound effect on the thinking of a generation of scholars, students and even politicians. There is a sense in which it is regarded as a manifesto of traditional liberalism. But the book has a complex underlying argument, and the philosophy...
Persistent link: https://www.econbiz.de/10014188403
In recent decades, there have been concerns within the economics profession about the narrowness in both graduate and undergraduate economics programs. These concerns have been based on the view that economic phenomena can be the subject of many modes of explanation, each based on a particular...
Persistent link: https://www.econbiz.de/10013092087