Purpose – Since Baumol (1990), the economic literature has distinguished between two broad categories of entrepreneurship: productive and unproductive. The purpose of this paper is to introduce another subcategory: indirectly productive entrepreneurship. Sometimes, profit-seeking entrepreneurs...

This paper analyzes how self-interest and long-term profit expectations provided the necessary incentives for the adult film industry to self-regulate and to find mechanisms to minimize the risks of HIV outbreaks that could result from the asymmetric information and network effects that...

Since Baumol (1990), the economic literature distinguishes between two broad categories of entrepreneurship: productive and unproductive entrepreneurship. This paper attempts to introduce a third category: indirectly (un)productive entrepreneurship. We argue that profit seeking entrepreneurs...

We argue that the canonical reading of Hayek often falls short of the implications of Hayek's insights. We present Hayek's "knowledge problem" (how order in a society is possible without the required knowledge for that order being possessed by any particular individual), and we discuss some of...

The present paper is devoted to showing that all externalist explanations for truth in economics are false, but that if there any are used, it should not be the democratic one utilized by Rosen (1997). Rather, even though it is equally fallacious, it should the one proposed in the present paper:...