Long-run neutrality of money is an artifact of particular theoretical frameworks. We advance an alternative though not contradictory theoretical framework where monetary processes exert lasting real effects.
Ideal theory will always have a place in philosophy departments. However, recent critics argue that debates in political philosophy and political theory should be consistent with the insights of the social sciences, particularly economics and sociology.
This paper explores key ideas in constitutional political economy by analyzing the writings of H.S.H Prince Hans-Adam II of Liechtenstein. As a hereditary head of state, His Highness has significant political power.
Adam Smith and Bruce Yandle's book, Bootleggers and Baptists: How Economic Forces and Moral Persuasion Interact to Shape Regulatory Politics, provides a great introduction to some of the fundamental principles of public choice theory (chapters 1-3), as well as interesting applications of that theory to current regulatory topics (chapters 4-7).
Cornuelle argued that our intellectual culture since the Great Depression has “heard only the case for expanding the scope and size of government,” and that if “rationality is to be restored, the independent sector must compete for social responsibility consciously and aggressively” (1983, 174; 175).
Mercatus PhD Fellow Vipin Veetil, along with Akshaya Vijayalakshmi and Srikanth Viswanathan, address Amartya Sen's criticism of cash-transfer programs such as education vouchers in the Wall Street Journal.
This book demonstrates unmistakably that the growth of government stymies entrepreneurship and threatens prosperity—a demonstration that, it is hoped, will help inspire efforts not just to slow, but to reverse, this growth and return to prosperity.