Economists often model the delicate relationship between production, innovation, and economic growth as a production function that exhibits increasing returns to scale (IRS). The existence of "knowledge spillovers" or "learning by doing" often implies conclusions about the optimal use of...

In recent years, many policymakers have pushed for a stronger international standard of copyright recognition and enforcement, as embodied in international agreements such as TRIPS. Proponents argue, in part, that stronger laws will encourage economic development in both developed and developing...

This paper attempts to understand how political entrepreneurs choose which policies to support. Two opposing camps of contemporary public choice place the weight on either the result of the choice of the rationally-ignorant median voter, or at the mercy of interest groups who capture regulation...