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...

Since at least Adam Smith, political economists have inquired into the nature and causes of the wealth of nations. From a public choice perspective, this economic transition from poverty to wealth can be reframed in terms of an escape from the transitional gains trap (Tullock 1975). Understood...