Using data from an experiment carried out by a large nonprofit organization, this paper finds that lapsed donors who received a solicitation letter referencing a relatively high donation made by another donor (high social information) were more generous in giving, but overall less likely to make a donation, relative to the baseline (low social information) group…
There has been a decline in rule of law in India, reflected in the frequent amendments to the Indian Constitution. This paper analyzes the historical, ideological, and economic context for constitutional amendments to understand the reason for the deterioration of constitutionalism in India.
David Skarbek’s new book The Social Order of the Underworld: How Prison Gangs Govern the American Penal System is meticulously researched, soundly reasoned, well written, and accessible to specialist scholars and casual readers alike. It should be considered required if not immediate reading for anyone with serious research interests in either economics or the applied fields of crime and punishment.
Market Monetarism: Roadmap to Economic Prosperity is a re-examination of post-World War II economic history, focused mainly on the United States but also including cases such as the infamous Japanese “Lost Decade,” from an explicitly Market Monetarist perspective.
Andersson and Moroni’s edited volume is an up-to-date contribution to the literature on private urban development and city planning (e.g., MacCallum 1970; Foldvary 1994; Beito et al. 2004). The editors, in the introductory chapter, make clear that the essays focus not on the distinction between planned and unplanned approaches, but between privately-planned and publicly-planned approaches.
Peter Boettke provides an introduction and commentary to a minisymposium with papers by Scott Scheall as well as Gabriel Zanotti and Nicolas Cachanovsky dealing with subtle interpretations of the methodological positions of Ludwig von Mises and F.A. Hayek.
This paper discusses the key elements of the theory of social-political change and highlights the connections to public choice (especially the Virginia School) and new institutional economics (especially the Bloomington School).
In Out of Poverty, Benjamin Powell concludes that the answer to this question is a resounding “No!” In stark contrast to the way that most people think about sweatshops, Powell argues that sweatshops are part of the development process, a process which makes the lives of workers better off.
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.
Former Federal Reserve Chairman Ben Bernanke has claimed that the Fed's bank bailouts during the 2008 financial crisis were consistent with Walter Bagehot's rules for a lender of last resort. This paper demonstrates Bernanke's claims to be mistaken.