The debate over immigration has been a central part of America’s political, social, and economic history. Concerns over the impact of immigration on American identity can be traced back to the Founding Fathers. Thomas Jefferson worried that immigrants from monarchies would fail to support a...

Carl Menger published his classic work Principles of Economics in 1871, that work is the founding text of what came known as the “Austrian School of Economics”. That label has now been used to describe a historical school of thought, as well as contemporary academic economists and public...

Carl Menger’s objective in his seminal book, Principles of Economics, was to elucidate a unified account of price formation. This raises a question, which motivates our paper: to what extent, if any, can Menger account for production not directly organized by the price mechanism, and therefore...

This paper reconceptualizes and unbundles the relationship between public predation, state capacity, and economic development from a constitutional perspective. By reframing our understanding of state capacity theory from a constitutional perspective, we argue that to the extent there is a...

The authors highlight under-appreciated problems with implementing a Basic Income Policy, even in the case of simple cash transfers which, given the existence of redistribution, are preferable to the bureaucratic machinery necessary for rationing specific goods

The growing preoccupation with identity within public discourse raises important questions concerning its effects on democratic governance. Building on the work of James M. Buchanan, we hope to show that:1) the logic of identity politics raises costs to political cooperation, 2) the phenomenon...

Using economic reasoning, Julian Simon offered crucial insights into a range of pressing issues including the environment, immigration, and economic development. The main lesson from Simon’s scholarship is that the ultimate resource does not reside in the ground (natural resources), or even in...

This paper evaluates the contribution of Risk, Uncertainty, and Profit to the development ofeconomic theory in the 20th century. Our argument in this paper is twofold. First, we contend thatthis book embodied what had been the common knowledge of early neoclassical economics priorto WWII....

This paper explores the intellectual context of the Department of Economics at the London School of Economics and Political Science (LSE) during the 1930s. we will be focusing on the contributions of F.A. Hayek, along with Lionel Robbins, in fostering an intellectual environment for the...