Residents and business owners seeking to reestablish themselves in areas affected by Hurricane Katrina face a situation fraught with Knightian uncertainty. This paper argues that government involvement in the rebuilding process, far from alleviating the problems of uncertainty, exacerbates them.…
The period of so-called "market reforms" in Russia does not show obvious improvements in the well being of its citizens. This has led to an emerging consensus within the professional and popular literature which argues that the "triple transition" is too difficult to be left to the market. In contrast to this argument, Boettke and Leeson contend in this working paper that it is precisely because the transition is so complicated and so important that market forces must be allowed to play the crucial role in the transition.
This paper is a reconsideration of the role of the economist in economic development. This is necessary, Coyne and Boettke argue, because this role has been obscured. They provide a history of development economics to understand how the economy has arrived at the current situation.
In this webinar for the Foundation for Economic Education, Mercatus Graduate Student Programs alumnus Edward Stringham talks about how government regulation affects entrepreneurship, and how entrepreneurs regulate themselves.