Schumpeter sketched a research program to explain the emergence of business cycles from perennial microeconomic flux. Economists however believe Schumpeterian micro processes are insufficient to generate macro dynamics, and therefore Schumpeterian themes must be appended with Keynesian features...

Legal scholars and economists alike have been quite critical of F. A. Hayek’s legal theory. According to Richard Posner, Hayek’s legal theory is “formalist” and serves as a useless guide for legal scholars and judges. Alan Ebenstein claims that Hayek’s arguments in technical economics...

An important question for any researcher who wishes to revisit the socialist calculation debate is: Why beat a dead horse? With the collapse of the communism in 1991, other than for historical purposes, there seems to be little value in rehashing the debate over socialism’s feasibility....