Education conveys a civic externality, a benefit to society over and above the benefit to the student in enhancing his future earning power. Students are taught not only to be productive but to be law abiding and loyal to their country. The civic externality is incorporated into an 'anarchy'...

For centuries, it has been recognized that democratic government is endangered by two unfortunate properties of majority-rule voting: the absence of an electoral equilibrium comparable to the general equilibrium in the economy, and the risk of expropriation of minorities by majorities. Much of...

A reasonable and fair interpretation of the mandate for equalization payments in Section 36(2) of the Canadian Constitution would differ from the present equalization formula in these respects: (a) transfers to the poorer provinces would be financed by transfers from the richer provinces rather...

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Chinese historians speak of dynastic cycles where periods of economic progress and decline coincide with the rise and fall of families of rulers, while economists speak of societies without technical change or involuntary unemployment as evolving into stationary states. This paper alters the...