Many social democrats believe that the failure of past government interventions in social and economic life can be explained by the absence of social capital, and that government must intervene to create that social capital. This argument is comprehensively undermined in this Hobart Paper. The...

Socioeconomic systems should be understood as "complex" phenomena that cannot effectively be controlled or managed through central planning. In general, markets and other decentralised governance mechanisms that rely on competition and signalling better facilitate learning and adaptation in...

This important book offers a comprehensive defence of classical liberalism against contemporary challenges. It sets out an analytical framework of ‘robust political economy’ that explores the economic and political problems that arise from the phenomena of imperfect knowledge and imperfect...

"Focusing on house prices and residential densities, this paper offers a comparative institutions account of the likely performance of public and private land use planning regimes. The analysis suggests that whilst far from 'perfect,' a system of private land use planning is likely to offer a...

Recently, for many health economics researchers, empirical estimation of the monetary valuation of a quality-adjusted life year (QALY) has become an important endeavour. Different philosophical and practical approaches to this have emerged. On the one hand, there is a view that, with health-care...