A federal, i.e. decentralized, state is superior to a centralized one because it fulfills the preferences of the citizens more effectively. However, it is also faced with major problems. Therefore, a new kind of democratic federalism for Europe is proposed which maintains the great advantages of...

Bruno Frey argues that terrorism has been fought in the wrong way. Instead of focusing on deterrence and preemptive strikes, we should: (1) Reduce vulnerability by decentralizing society; (2) Strengthen positive incentives to leave the terrorist camp; and (3) Divert media attention from...

Curiously, economists, whose discipline has much to do with human well-being, have shied away from factoring the study of happiness into their work. Happiness, they might say, is an ''unscientific'' concept. This is the first book to establish empirically the link between happiness and...

Zusammenfassung Historische Ereignisse spiegeln sich in Preisveränderungen auf Finanzmärkten. Dieses Papier untersucht die deutsche Kriegsgeschichte während des zweiten Weltkriegs anhand der Preisentwicklung der in der Schweiz gehandelten deutschen Staatsanleihen. Die Resultate unserer...

World governance today is characterized by international organizations lacking democratic legitimacy and control by the citizens they claim to represent. They are also criticized for being inefficient. This leads to violent protests and to NGOs having great influence. To address these problems,...