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may arise as a predatory hierarchy from a state of pure anarchy. A dictator minimizes the probability of a palace … associated with anarchy and weak dictators, while strong dictators implement a system of monopolistic corruption. Efforts at …
Persistent link: https://www.econbiz.de/10012782606
Public choice economists began studying the economics of anarchy in the 1970s. Since then, the amount of research on … anarchy has burgeoned. This article surveys the important public choice contributions to the economics of anarchy. Following … their historical studies of attempts to internalize externalities under anarchy, public choice scholars are arriving at a …
Persistent link: https://www.econbiz.de/10014211569
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A fundamental requirement of market economies is the security of ownership claims to property. Yet history is littered with cases of challenges to these claims. A large literature has found contradictory evidence for the effect of income and income inequality on revolt, possibly due to omitted...
Persistent link: https://www.econbiz.de/10010519062
Standard economics omits the role of narratives (the stories that people tell themselves and others) when they make all kinds of decisions. Narratives play a role in understanding the environment; focusing attention; predicting events; motivating action; assigning social roles and identities;...
Persistent link: https://www.econbiz.de/10011422534
Standard economics omits the role of narratives (the stories that people tell themselves and others) when they make all kinds of decisions. Narratives play a role in understanding the environment; focusing attention; predicting events; motivating action; assigning social roles and identities;...
Persistent link: https://www.econbiz.de/10011452045
Standard economics omits the role of narratives (the stories that people tell themselves and others) when they make all kinds of decisions. Narratives play a role in understanding the environment; focusing attention; predicting events; motivating action; assigning social roles and identities;...
Persistent link: https://www.econbiz.de/10011413959
Although property rights are the cornerstone of capitalist economies, throughout history existing claims have been frequently overturned and redefined by revolution. A fundamental question for economists is what makes revolutions more likely to occur. A large literature has found contradictory...
Persistent link: https://www.econbiz.de/10014133515
Persistent link: https://www.econbiz.de/10000645129
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