Opening of the archives confirmed that the Soviet Union was a hierarchical economy driven by planning, not a rent-seeking society. Rent-seeking could not govern the classical socialist society because lower-level officials could not trust their superiors to collaborate. Individual incentives...

Why would Hayek, the great critic of 'rational constructivism' and defender of spontaneous orders, think a transitional dictatorship could work? Here I attempt to dissect the alchemy of 'turning a constitution into a can opener' as Farrant & McPhail (2014) put it. Hayek argues against the...

This historian believes that a social alternative can be found to both extreme Austrian-style economic proposals of laissez-faire and market socialist programs. Her conclusion is the necessity of meeting basic needs of citizens, from food to rent to health care and education. Few market...