Coase's publication of “The Lighthouse in Economics” (1974) sparked a polarizing debate over his claim that government intervention is not necessary for the existence of a private lighthouse market. The purpose of this paper is to reframe this debate by asking the following question: why was...

The theory of interventionism argues that government interventions are inherently destabilizing, which in turn helps explain the growth of government. I argue that the theory of interventionism is also useful for explaining the process of economic growth. At first, an intervention reduces living...

This paper explores the intellectual context of the Department of Economics at the London School of Economics and Political Science (LSE) during the 1930s. we will be focusing on the contributions of F.A. Hayek, along with Lionel Robbins, in fostering an intellectual environment for the...

For over a generation, the collapse of communism in the Soviet Union and Eastern and Central Europe delegitimized the abolition of private property in the means of production and the practice of central planning as an effective way to achieve the ends of socialism. However, the aspiration of...