Why would sovereigns ever grant political or economic liberty to their subjects? Under what conditions would rational rulers who possess ultimate authority and who seek to maximize power and wealth ever give up any of that authority? This book draws on a wide array of empirical and theoretical...

How much credit can be given to entrepreneurship for the unprecedented innovation and growth of free-enterprise economies? In this book, some of the world's leading economists tackle this difficult and understudied question, and their responses shed new light on how free-market economies...