Conventional public choice literature suggests that interest groups have a largely malign effect upon the economy. Suggesting that interest groups are primarily established to lobby governments for rents, the public choice approach essentially rests upon normative presumptions concerning the...

Web3, underpinned by blockchain technology, is an evolution of digital infrastructure, whereby protocol facilitates the direct exchange of value between users, removing the need for trusted intermediaries. Existing blockchain experiments seek to create artist-centric business models, dismantling...

Much economic analysis of scholarly publishing has focused on journals as a communication technology. However, the Open Access (OA) movement did not originate from economic calculations, but from user communities. The twentieth-century closed publishing model made economic sense as outsourced...

Abstract. Blockchain (or crypto) foundations are nonprofit organizations that supply public goods to a crypto-economy. The standard theory of crypto foundations is that they are like governments with respect to a national or regional economy, i.e. raising a public treasury and allocating...

Two of the most important technological advancements currently underway are the advent of quantum technologies, and the transitioning of global financial systems towards cryptographic assets, notably blockchain-based cryptocurrencies and smart contracts. There is, however, an important interplay...

New technologies affect cultural consumption in several ways. Technological change lowers the cost of cultural consumption, inducing substitution and/or increasing demand, in both cases increasing consumer welfare. Technological change can also impact dynamically, inducing increased variety...

The arrival of information technology in the 1980s and 1990s created an opportunity for business process reengineering. We argue that the arrival of next generation information technology for business - i.e. blockchain - creates a new set of similar opportunities, but this time across entire...

This chapter presents a Wagnerian vision of macroeconomics as a hybrid of several schools of thought and analytic frameworks, including public choice theory, constitutional economics, complexity economics, and evolutionary economics. We then review recent economic analysis of emerging...

From the adoption of the shipping container to coordinated trade liberalisation, reductions in trade costs have propelled modern globalisation. In this paper we analyse the application of blockchain to reduce the trade costs of producing and coordinating trusted information along supply chains....