The constitutional foundations of economic liberty in Hong Kong, the freest economy in the world according to many, are little understood. So as the perceived spread of collusion, cronyism, and corruption in the territory ever since the 1997 transfer of sovereignty despite China’s promises...

With the change in legal status, marijuana is not really being legalized or even just decriminalized. It is being made regulatable or, to coin a phrase, regulatabilized. Markets in illegal goods — along with the goods’ creation, cultivation, distribution, taxation, sale, etc. — are...

Inconvenient information about the performance of public institutions may undermine public trust. In an experiment, I test how information about sentencing disparities among judges in the Czech Republic affects respondents’ perception of the judicial system. I find no effect on respondents’...

There is widespread concern, especially in certain feminist circles, that a market-oriented economic system, or capitalism, disfavors women. This could take many forms, such as lower wages for the same type of work, reduced career opportunities, disparities in ownership and the upholding of...

A large literature details the causes and consequences of incarceration. This study evaluates the role of economic freedom in this context using US Metropolitan Statistical Area (MSA) data from 1977 to 2017. To do so, we implement economic freedom scores at the MSA level derived from Stansel...

This study aims at investigating and measuring the relative efficiency of public hospitals performance in Jordan, during the period (2006-2008), using DEA and Pabon-Lasso Diagram. The results indicate that the average efficiency of those hospitals is varied and ranges between (73%) to (100%)....

There has been a fundamental development in theory and understanding of market, private, collective and public organizations in recent years. This paper incorporates achievements of the interdisciplinary New Institutional and Transaction Costs Economics (combining Economics, Organization, Law,...

China’s economic reforms have resulted in spectacular growth and poverty reduction. However, China’s institutions look ill-suited to achieve such a result, and they indeed suffer from serious shortcomings. To solve "China puzzle" this paper analyses China’s institution - a regionally...

We consider abstract social systems of private property, made of n individuals endowed with non-paternalistic interdependent preferences, who interact through exchanges on competitive markets and Pareto-efficient lumpsum transfers. The transfers follow from a distributive liberal social contract...