Austrian insights on the limits of central planning, the pervasiveness of knowledge problems, and the importance of the entrepreneur in coordinating social change have yielded substantive contributions to the literature on how individuals and communities respond to both natural and unnatural, or...

Culture shapes economic action and, as such, impacts economic life. Although there is a growing recognition amongst economists that culture matters, there is nothing approaching a universal agreement on how to incorporate culture into economic analysis. We provide a brief summary of how...