Over the course of three hundred years, the institutional organization of the Christian church evolved from small loosely organized groups meeting in house churches to a form of hierarchical organization known as monepiscopacy. Monepiscopacy denotes a form of ecclesial polity in which a single...

This paper applies Kirzner’s theory of entrepreneurial alertness to central banking. As opposed to entrepreneurs operating within the market, central banks can operate outside the market by defining its structure and regulations. We label as “super-alertness” the particular type of...