This chapter, which surveys the state of knowledge about the economic effects of international labor mobility, is therefore especially concerned with considering labor mobility’s economic effects for potentially vulnerable subpopulations.
Equality of opportunity is difficult to behold, nearly impossible to measure, and likely impossible to achieve in the strictest sense of the term. Economic freedom is the nearest practical approximation of equality of opportunity, if only for the reason that it is impossible to ensure that each person is born into the exact same set of circumstances and subject to the exact same events.
Richard Posner argues that late twentieth-century divorce-law reform rendered marital relationships in the United States increasingly contractual in nature. Chief among such reforms was the no-fault divorce revolution: the widespread switch in states’ legal regimes from fault-based, mutual-consent divorce to no-fault based, unilateral divorce, which swept across America in the 1970s.
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.
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.
Rebounding after disasters like tsunamis, hurricanes, earthquakes, and floods can be daunting. Communities must have residents who can not only gain access to the resources that they need to rebuild but can overcome the collective action problem that characterizes post-disaster relief efforts.