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.
Recent literature on Adam Smith and other eighteenth-century Scottish thinkers shows an engaged conversation between the Scots and today's scholars in the sciences that deal with humans—the social sciences and the humanities, as well as neuroscience and evolutionary psychology.
Elinor Ostrom and her colleagues in The Workshop in Political Theory and Policy Analysis at Indiana University in Bloomington conducted fieldwork in metropolitan police departments across the United States. Their findings in support of community policing dealt a blow to the popular belief that consolidation and centralization of services was the only way to effectively provide citizens with public goods.
Research on betrayal aversion shows that individuals’ response to risk depends not only on probabilities and payoffs, but also on whether the risk includes a betrayal of trust. While previous studies focus on measuring aggregate levels of betrayal aversion, the connection between an individual’s own betrayal aversion and other individually varying factors, including risk preferences, are currently unexplored.
Applying benefit-cost analysis in the White House regulatory oversight process served as a basic mission of the Council on Wage and Price Stability (CWPS) during its seven-year lifespan (1974–1981). This paper reviews that CWPS experience, which involved filing comments in over 300 proceedings at more than 25 federal regulatory agencies.
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.
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.
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.