We argue that in order to answer the challenges that James Buchanan put to contemporary political economists, a reconstruction of public choice theory building on the work of Buchanan, F.A. Hayek and Vincent Ostrom must take place. Absent such a reconstruction, and the significant challenges...

How do political environments influence the behavior of economists who transition from academic and business environments to policymaking positions? And, more specifically, are an economist's preexisting beliefs and principles congruent with their policy stances and actions once they transition...

Early efforts to tame man’s passions going back to antiquity focused on the repression of those passions. As the political and social sciences emerged, the argumentative focus shifted from repressing to harnessing man's passions. This is what produced the discovery of the "invisible hand"...

In this introduction sketch the architecture of Mises' economics and political economy. Mises' overarching program is one of examining exchange (economic science) and the institutions within which exchange takes place (political economy). In recent years the economics profession has moved...

This paper introduces the idea of robust political economy. In the context of political economic systems, robustness refers to a political economic arrangement's ability to produce social welfare-enhancing outcomes in the face of deviations from ideal assumptions about individuals' motivations...