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.
The September 2015 issue of the Review of Austrian Economics features a symposium celebrating the 40th anniversary of F.A. Hayek’s Nobel Memorial Prize in Economic Science. The symposium papers were presented at an event hosted by the F.A. Hayek Program for Advanced Study in Philosophy, Politics, and Economics at the Mercatus Center, “40 Years After the Nobel: F.A. Hayek and Political Economy as a Progressive Research Program,” in October 2014.
This paper serves as the Introduction to the symposium celebrating the 40th anniversary of F.A. Hayek’s Nobel Memorial Prize in Economic Science. The symposium papers were presented at a public event held in October 2014 in Arlington, VA and explore the relevance of Hayek’s research program for the past and future of the economics discipline.
When considered as a unified project, the Ostroms’ themes of polycentricity, self-governance, and the art and science of association have strong intellectual roots and connections with Austrian economics.
The governments of American states often attempt to incentivize businesses to locate within their borders by offering targeted benefits to particular industries and companies. Despite good intentions, policymakers often overlook the unseen and unintended negative consequences of targeted-benefit policies.
Private constitutional rules can mitigate the Samaritan's Dilemma, a widespread cause of failure of aid and humanitarian efforts. To understand how private organizations can adopt rules that help overcome this dilemma, I provide evidence on an association formed to govern poor relief in urban Chicago from the 1850s to 1880s.
Recognizing heterogeneity of legal/social status, historical experience, and the resulting variation in the constraints faced by different groups can be a valuable complement to forms of heterogeneity already recognized by Austrian economists. This is particularly true for empirical analyses of caste-based societies, women’s history, and the experiences of other currently or historically persecuted minority populations.
August 29th marks the 10th anniversary of Hurricane Katrina making landfall as a Category 3 hurricane. The failure of the storm surge protections from Florida to Texas, and especially in New Orleans, is considered one of the worst engineering failures by the Army Corps of Engineers in its history. The policy responses from local, state, and national public officials are also considered to have been woefully inadequate. The entire episode represents a classic case study in how government failure can compound the fury of nature through the folly of man. Peter Boettke discusses the lessons we can learn.
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.