While entrepreneurs benefit from unrestricted free entry into markets, they have a time-inconsistent incentive to lobby for government entry restrictions once they become successful. Bad political institutions yield to these demands, and growing barriers are placed on domestic and international...

Considerable disagreement exists about how economic growth, taxes, and other policies affect the distribution of income from both a theoretical and empirical perspective. This short paper attempts to shed some light on the empirical debate about the role of tax policy in determining economic...

This study investigates the impacts of higher quality public regulation of business, as well as greater economic freedom, on growth in the standard of living (as measured by increased per capita real GDP) in OECD nations over the 2003-2007 study period. Using a pooled time-series/cross section...

This study empirically investigates the impact on per capita real economic growth of each of the ten measures of economic freedom computed annually by the Heritage Foundation. Within the context of the Random Effects Model, panel least squares estimations using a 5-year panel (2004 through 2008)...

How can the institutions of a free-market economy be sustained if teachers and students fail to grasp a basic economic understanding? This article describes the current status of economic education at the pre-college levels including teacher knowledge, student knowledge, and the status of...

This study of the impact of economic freedom, regulatory quality, and the relative burden of taxation on the level of per capita real income/GDP among OECD nations over the 2003-2007 period adopts a modified version of the overall economic freedom index computed by The Heritage Foundation...

In this essay, we argue that liberal economists should take more seriously the problems of public goods and externalities as well as the capacity of taxation and state action to improve human welfare. While taking seriously the public choice concerns about how the political process works as well...

This article further investigates the critical relationship between economic freedom and real income levels. Treating member nations of the OECD as de facto economic and political regions, the estimations in this empirical study all provide strong support for the three hypotheses considered...

Purpose– The purpose of this paper is to evaluate whether two specific forms of government policy influence entrepreneurship and hence the performance economy as a whole. Performance is measured in terms of living standards and growth therein. The policies are, as follows: higher quality...