This paper contrasts Buchanan’s contractarian–constitutional liberalism with Hayek’s evolutionary liberalism and Rothbards free-market liberalism as representative branches of the classical liberal tradition. While Hayek and Rothbard focus on individual liberty as private autonomy,...

Four theoretical approaches to the study of organizations that can be identified in the relevant literature are compared: Thegoal paradigm, theexchange paradigm, thenexus of contracts paradigm, and theconstitutional paradigm. It is argued that the latter provides the more fruitful theoretical...

The purpose of this paper is to outline an evolutionary approach to the process of competition among institutions. We shall focus, in particular, on two issues: first, the role of the competitive process as a knowledge-creating process; and, second, the issue of what inferences, if any, can be...