Despite the widespread adoption and strict enforcement of balanced budget requirements, U.S. state and local governments have accumulated trillions in unfunded pension liabilities. While many casual factors for this growth in unfunded liabilities, including liberal discount rates and inadequate...

This paper provides a theoretical description for the adoption of turn-taking in office where two or more individuals are elected to a committee to serve individual terms for the same public office, with the exclusive right to exercise the public office rotating, exclusively, among the members...

Knowledge problems with discretionary monetary policy -- Incentive prolems with discretionary central banking -- When firefighters are arsonists -- On the shoulders of giants: monetary policy insights of the classically liberal nobel laureates -- Money and the rule of law -- Conclusion: money...

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...

What is the relevancy of modern Austrian economics? Austrian economics, from its origins, has attempted to push economics towards greater relevance by developing and refining a methodological approach that enhances the operational validity of its scientific conclusions for decision-making in the...

Contemporary monetary institutions are flawed at a foundational level. The reigning paradigm in monetary policy holds up constrained discretion as the preferred operating framework for central banks. But no matter how smart or well-intentioned are central bankers, discretionary policy contains...

Public pensions in the United States face an impending funding crisis in the wake of the financial crisis and the COVID-19 recession. Many cities and states will struggle to meet these growing obligations without major cuts in government services, reneging on pension promises, or raising taxes....

Anti-discrimination laws on the basis of sexual orientation have been adopted by many states to counteract perceived discrimination in the labor market. We �find that relative to married heterosexual men, homosexual men earn less and anti-discriminatory laws, over time, partially lessen this...