In <italic>The Construction of Social Reality</italic> (1995), John Searle develops a theory of institutional facts and objects, of which money, borders and property are presented as prime examples. These objects are the result of us <italic>collectively</italic> intending certain natural objects to have a certain status, i.e....

Governor Ryk Tulbagh promulgated sumptuary laws at the Cape in 1755. Umbrellas could no longer be carried freely by all classes, silk dresses of a certain length could not be worn by ladies without regard to rank, and the value of pearl necklaces was strictly limited. These laws have often been...

In 1967 Milton Friedman delivered “The Role of Monetary Policy’ as his presidential address to the American Economic Association (AEA). In its published version – Friedman (1968) – it has become, arguably, the most influential paper in modern monetary economics and was...