The Lorenz curve and Gini coefficient are typically used to measure inequality. A different way to measure inequality is introduced here: I = CN, the product of concentration and number of units. The resultant index can be interpreted with reference to an inequality base where one unit owns all...

This paper examines the process of mass democracy as the fundamental cause of transfer seeking and the centralization of governance, using Austrian-school theory and methodology such as decentralized knowledge, disaggregated phenomena, and the structure of capital goods. The alternative of...

Rationales for government interventions in the market are typically based on theories of market failure set within a framework of fixed private-sector practices and technologies. However, continuous technological progress and entrepreneurial innovation are eroding the theoretical foundations of...

Many people study economics because they wish to understand why we have social problems such as unemployment and poverty, and how they can be remedied. Most people have similar visions of prosperity and justice. We want to live in social harmony, where everyone who wants to can work and make a...

An ideal public revenue policy respects a person's right to privacy, does not discourage work or savings, and does not induce dishonesty. While income, sales, and value-added taxes fall woefully short of this ideal, land value taxation meets each requirement

Henry George was an American economist and social philosopher who wrote during the last three decades of the 1800s. He combined economic analysis with moral philosophy, as one of his themes was that there is a harmony between economics and ethics: what is economically efficient is also morally...

Rejecting the market-failure hypothesis, Dr Foldvary argues that an entrepreneur can provide collective goods by consensual community agreements. Instead of focusing particular services, as previous studies have done, this book concerns itself with entire private communities. A series of case...

Beyond Neoclassical Economics is a remarkable introduction to the main heterodox schools of economic thought which examines their main concepts and their critiques of mainstream theory.