DOCSLIB.ORG

Onward and Upward! Bet on Capitalism--It Works

Total Page：16

File Type：pdf, Size：1020Kb

Download full-text PDF Read full-text
Onward and Upward! Bet on Capitalism--It Works Onward and Upward! Bet on Capitalism—It Works O’Neil Center 2015-16 Annual Report 1 2015-16 Annual Report • William J. O’Neil Center for Global Markets and Freedom • SMU Cox School of Business TABLE OF CONTENTS A Message from the Dean..............................1 Onward and Upward!.....................................2 ‘The Bet’—Bigger than Two Men......................5 Data Divide Optimists, Pessimists ................12 2015-16: Year in Review..............................17 The William J. O’Neil Center for Global Markets and Freedom was founded in 2008 with an initial grant from William J. O’Neil, a 1955 SMU business school graduate, and his wife Fay C. O’Neil. Its broad mission is the study of why some economies prosper and others do poorly, focusing on two critical issues for the 21st Century economic environment— globalization and economic freedom. The center’s programs promote understanding of how capitalism works among the general public, policy makers, business managers and the next generation of business leaders. To these ends, the O’Neil Center teaches SMU Cox students, conducts economic research, publishes economic reports, sponsors conferences and educates the public through the media and speeches. SMU will not discriminate in any program or activity on the basis of race, color, religion, national origin, sex, age, disability, genetic information, veteran status, sexual orientation, or gender identity and expression. The Executive Director for Access and Equity/ Title IX Coordinator is designated to handle inquiries regarding nondiscrimination policies and may be reached at the Perkins Administration Building, Room 204, 6425 Boaz Lane, Dallas, TX 75205, 214-768-3601, [email protected]. Design by WiswallMcLainDesign A Message from the Dean Dean Niemi Our views of the world are heavily page focuses on this perennial divide 2015-16. Since its founding in influenced by the environment between optimists and pessimists. 2008, the center has remained true we live in. We here in Texas feel O’Neil Center founding director to its mission of studying why some pretty good about the economy W. Michael Cox and his co-author economies prosper and others remain because we’ve seen steady growth Richard Alm answer a question poor, building an outstanding record in employment, incomes and that’s growing more pressing in of scholarly research, publications, population. For the same reason, these uncertain times: Is American on-campus conferences, guest optimism marks a handful of other capitalism headed into inevitable speakers, teaching and speeches in states, mostly in the Southeast and decline, as so many pessimists claim, Texas and beyond. This past year, the Mountain West. or will human ingenuity, spurred by the O’Neil Center took several big In other parts of the country, our free-enterprise system, continue to steps forward by recruiting a scholar decades of job losses and declining deliver the progress and prosperity that who focuses on state-level economic population have left many Americans marked this country for most of its freedom, launching a research somewhere between apprehensive history? Cox and Alm make a case for project on the Texas economy and and downright pessimistic. It’s not optimism, supported by hard evidence starting a program to help Texas because they’re all that different and anchored by the inherent nature teachers improve their teaching of from Texans; it’s because the of capitalism. The essay gives all of us free enterprise. economic realities they encounter a lot to think about. every day give them little reason to The Year in Review section expect a brighter future. reports on the O’Neil Center’s Albert W. Niemi, Jr. The essay that starts on the next accomplishments in academic year Dean, Cox School of Business O’Neil Center 2015-16 Annual Report 1 Onward and Upward! Bet on Capitalism—It Works By W. Michael Cox and Richard Alm In the early 1980s, two college The Bet. The actual wager amounted in a bit, but settling up didn’t end professors faced off in a highly public to a few hundred dollars in cash, but the feud between pessimists who battle about American capitalism and it carried much higher stakes in the see capitalism as a destructive force the future of humankind. Paul Ehrlich currency of intellectual prestige. and optimists who see it as the best predicted the world, with too many The Bet took place in 1980—a time chance for expanding human welfare, mouths to feed, would soon run out when the intellectual climate tilted in especially among the poor. of resources, leading to a bleak future favor of Ehrlich, and Simon initially Today, pessimists seem once again of growing scarcity and widespread struggled to be heard. It focused on the ascendant, channeling Paul Ehrlich starvation. Julian Simon offered inflation-adjusted prices of five industrial with warnings about a future of a far more upbeat view, a future metals over the upcoming decade as a growing scarcity and potential of abundance with higher living test of whether the world was heading catastrophe as climate change raises standards for more and more people, toward scarcity or abundance. sea levels and temperatures around the thanks to almost limitless potential If the metals’ prices rose, it would globe. The optimistic voices—heirs to of human ingenuity operating in a signify the world was running out of Julian Simon—press on, making the capitalist system. important commodities, vindicating case that capitalism, if unshackled, For more than a decade, the two Ehrlich’s pessimistic view of the will provide a better life for more of professors slugged it out in the arena future. If the prices of the five metals us. They point to the 1 billion people of public opinion, largely through declined, it would indicate that around the world who have risen a series of books and articles, the humans had produced more than out of extreme poverty as China, academics’ weapons of choice. Along enough to meet growing demand, India and other countries embraced the way, they made their disagreement supporting the optimistic view that capitalism in recent decades. personal with a bit of impromptu Simon championed. The Bet didn’t resolve the issue of political theater that history knows as We’ll tell you who won The Bet scarcity or abundance partly because 2 O’Neil Center 2015-16 Annual Report of limitations imposed by its small and specialization in market economies savaged capitalists for plundering the sample of five metals, single decade of made both individuals and societies working class—although, somewhat data and muddled concept of how to better off. In Smith’s view, progress was ironically, he had an optimistic side, calculate real prices as a measure of possible in a capitalist system. proclaiming a future of material human progress. We now revere Smith as the founder abundance. It just wouldn’t arrive, “Onward and Upward!” takes a of modern economics, but it wasn’t Marx declared, until capitalism had fresh look at The Bet, expanding it long before the pessimists raised been eradicated from the Earth. to include more goods and services, their objections. Thomas Malthus The critics of capitalism remained extending the time period and using published An Essay on the Principle vehement, but the Industrial more precise concepts to gauge scarcity of Population in 1798, arguing that Revolution hurtled forward, bringing or abundance. Recasting the Ehrlich- population would grow to exhaust with it the greatest material progress Simon wager in this way will allow any increases in the resources that in human history. According to today’s Americans to see for themselves sustain life, condemning the mass Angus Maddison, global real income whether it’s wise to bet on capitalism. of mankind to a meager existence at per capita was just $615 a year in subsistence wages. 1700—less than $2 a day. Today, it’s A Long-Simmering Dispute David Ricardo let some sunlight 12 times higher at more than $7,600. into Malthus’ gloomy scenario by Under its capitalist system, the Does capitalism work? The rivalry asserting that wages could rise above United States did quite a bit better, between optimists and pessimists on this subsistence when new investment or with average real income increasing question goes back to the earliest days technology pushed up productivity 33-fold from $1,257 in 1800 to more of economic thought. In 1776, Adam and pay, increasing the demand than $40,000 today. Smith’s The Wealth of Nations struck a for labor faster than its supply. A Rising incomes fueled optimism hopeful note by focusing on how trade generation after Ricardo, Karl Marx about capitalism, but the relative O’Neil Center 2015-16 Annual Report 3 prosperity didn’t silence the pessimists. “The foundation of Simon’s optimism was a conviction In the waning decades of the 19th Century and the first years of the 20th Century, that markets will spur human beings to increase the America’s Progressives campaigned for government intervention to remedy the supplies of resources that grow scarce or develop ills they associated with markets—from industrial concentration and instability substitutes that are cheaper and more plentiful.” to child labor and unsafe products. Pessimism spreads in hard times, Making ‘The Bet’ was a conviction that markets will so it’s not surprising that the Great spur human beings to increase the Depression of the 1930s cast a dark Ehrlich burst into the spotlight in supplies of resources that grow scarce cloud. Bad government policies had a 1968 with his book The Population or develop substitutes that are cheaper lot to do with the economic collapse, Bomb, which revived Malthus’ thesis and more plentiful. The Ultimate but British economist John Maynard that population would overwhelm Resource, the title of one of Simon’s Keynes and others ushered in a new available resources, especially food.
Load more

Recommended publications
  • Political Concepts Committee on Concepts and Methods Working Paper Series
    Political Concepts Committee on Concepts and Methods Working Paper Series 54 December 2011 The Concept of Nature in Libertarianism Marcel Wissenburg Radboud University Nijmegen ([email protected]) C&M The Committee on Concepts and Methods www.concepts-methods.org IPSA International Political Science Association www.ipsa.org CIDE Research and Teaching in the Social Sciences www.cide.edu Editor The C&M working paper series are published by the Committee on Concepts and Methods Andreas Schedler (CIDE, Mexico City) (C&M), the Research Committee No. 1 of the International Political Science Association (IPSA), hosted at CIDE in Mexico City. C&M Editorial Board working papers are meant to share work in progress in a timely way before formal José Antonio Cheibub, University of Illinois at publication. Authors bear full responsibility for Urbana-Champaign the content of their contributions. All rights reserved. David Collier, University of California, Berkeley The Committee on Concepts and Methods Michael Coppedge, University of Notre Dame (C&M) promotes conceptual and methodological discussion in political science. It provides a forum of debate between John Gerring, Boston University methodological schools who otherwise tend to conduct their deliberations at separate tables. It Russell Hardin, New York University publishes two series of working papers: “Political Concepts” and “Political Methodology.” Evelyne Huber, University of North Carolina at Chapel Hill Political Concepts contains work of excellence on political concepts and political language. It James Johnson, University of Rochester seeks to include innovative contributions to concept analysis, language usage, concept operationalization, and measurement. Gary King, Harvard University Political Methodology contains work of Bernhard Kittel, University of Oldenburg excellence on methods and methodology in the study of politics.
    [Show full text]
  • A Response to the Libertarian Critics of Open-Borders Libertarianism
    LINCOLN MEMORIAL UNIVERSITY LAW REVIEW __________________________________ VOLUME 4 FALL 2016 ISSUE 1 ____________________________________ A RESPONSE TO THE LIBERTARIAN CRITICS OF OPEN-BORDERS LIBERTARIANISM Walter E. Block, Ph.D. Harold E. Wirth Eminent Scholar Endowed Chair and Professor of Economics Joseph A. Butt, S.J. College of Business I. INTRODUCTION Libertarians may be unique in many regards, but their views on immigration do not qualify. They are as divided as is the rest of the population on this issue. Some favor open borders, and others oppose such a legal milieu. The present paper may be placed in the former category. It will outline both sides of this debate in sections II and III. Section IV is devoted to some additional arrows in the quiver of the closed border libertarians, and to a refutation of them. We conclude in section V. A RESPONSE TO THE LIBERTARIAN CRITICS OF OPEN-BORDERS LIBERTARIANISM 143 II. ANTI OPEN BORDERS The libertarian opposition to free immigration is straightforward and even elegant.1 It notes, first, a curious bifurcation in international economic relations. In the case of both trade and investment, there must necessarily be two2 parties who agree to the commercial interaction. In the former case, there must be an importer and an exporter; both are necessary. Without the consent of both parties, the transaction cannot take place. A similar situation arises concerning foreign investment. The entrepreneur who wishes to set up shop abroad must obtain the willing acquiescence of the domestic partner for the purchase of land and raw materials. And the same occurs with financial transactions that take place across 1 Peter Brimelow, ALIEN NATION: COMMON SENSE ABOUT AMERICA’S IMMIGRATION DISASTER (1995); Jesús Huerta De Soto, A Libertarian Theory of Free Immigration, 13 J.
    [Show full text]
  • Department of Economics August 2021 Georgia State University PO Box 3992 Atlanta, GA 30302 (404) 413-0252 [email protected]
    H. Spencer Banzhaf Department of Economics August 2021 Georgia State University PO Box 3992 Atlanta, GA 30302 (404) 413-0252 [email protected] Education Ph.D., 2001, Economics, Duke University, Durham, NC. M.A., 1997, Economics, Duke University, Durham, NC. B.A., 1992, cum laude with distinction, Economics, Duke University, Durham, NC. Primary Appointments 2013— Professor, Department of Economics, Georgia State University. 2006 - 2013 Associate Professor, Department of Economics, Georgia State University. 2001 - 2006 Fellow, Resources for the Future, Washington, DC. 1992 - 1995 Economist, Triangle Economic Research, Durham, NC (1994-5) and Research Triangle Institute, RTP, NC (1992-4). Summer consultant, 1995-8. Secondary Appointments 2010— Research Associate, National Bureau of Economic Research (NBER) —Faculty Research Fellow, 2009-2010 2015— Senior Fellow, Property and Environment Research Center (PERC) —Senior Research Fellow, 2010-15 2017— Faculty Affiliate, Urban Studies Institute, GSU —Previously, Council for the Progress of Cities 2011-15 (chair, 2012-14) 2018— Faculty Affiliate and economics coordinator, Philosophy, Politics, and Economics (PPE) program, GSU 2018— Faculty Affiliate, Jean Beer Blumenfeld Center for Ethics, GSU Dept. of Philosophy 2008 - 15 Faculty Affiliate, Center for the Comparative Study of Metropolitan Growth, GSU College of Law 2005 - 2006 Adjunct Assistant Professor, Georgetown Public Policy Institute. 2003 - 2004 Adjunct Assistant Professor, Georgetown Dept. of Economics. Fellowships, Honors and Awards R. Musgrave prize for best paper in the National Tax Journal (with W. Oates), 2013. Outstanding Faculty Achievement Award, Georgia State University, 2011. "Best article" prize, History of Economics Society, 2010. Julian Simon Fellow (Property and Environment Research Center [PERC]), 2007. David C. Lincoln Fellowship (Lincoln Institute of Land Policy), 2007.
    [Show full text]
  • Success Through the Selection and Design of Local Referenda H
    The Conservation Movement: Success Through the Selection and Design of Local Referenda H. Spencer Banzhaf, Wallace E. Oates, and James Sanchirico © 2007 Lincoln Institute of Land Policy Lincoln Institute of Land Policy Working Paper The findings and conclusions of this paper are not subject to detailed review and do not necessarily reflect the official views and policies of the Lincoln Institute of Land Policy. Please do not photocopy without permission of the Institute. Contact the Institute directly with all questions or requests for permission. [email protected] Lincoln Institute Product Code: WP07SB1 Abstract The American electorate demands more conservation. From 1998 to 2006 there were over 1,550 state, county, or municipality ballot measures targeting open-space, wetlands, and forest conservation, of which almost 80% were successful. We analyze which local jurisdictions are most likely to place land-preservation initiatives on the ballot, as a function of local demographics, land uses, and political factors. In addition, we analyze the outcomes of these initiatives, again as a function of these factors as well as initiative- specific details such as financing mechanisms. Our model controls for the selective nature of the sample, both in terms of which communities hold referenda and in terms of which types of referenda they vote on. To do so, we employ a polychotomous sample selection estimator not previously used in this literature. We find that more educated communities, with fewer children, and voting democratic in presidential elections are more likely to hold and/or vote in favor of open space referenda. We also find that communities are more likely to support referenda financed with bonds, even after controlling for the self-selection of financial mechanisms.
    [Show full text]
  • Matthew A. Turner October, 2018
    Matthew A. Turner October, 2018 Department of Economics [email protected] Box B 401-863-9331 Brown University Providence, RI 02912 Education: Ph.D., Economics, 1995, Brown University. A.M., Economics, 1992, Brown University B.A., Majors in mathematics and English, 1987, University of California at Berkeley Employment: Professor of Economics and Director of Graduate Studies, Brown University, 2017- Professor of Economics, Brown University, 2014-6 Professor of Economics, University of Toronto, 2007-2014 Associate Professor of Economics, University of Toronto, 2001-2007 Assistant Professor of Economics, University of Toronto, 1995-2001. Marine Policy and Ocean Management Postdoctoral Fellow, Woods Hole Oceanographic Institution, 1994-5 High School Teacher, Landmark School, 1989-90 Computer Programmer, Wells Fargo Bank, 1987-89 Affiliations: Research Associate, National Bureau of Economic Research, Cambridge MA, 2017-; Research Affiliate, International Growth Center, London, 2016-;Senior Research Fellow, Property and Environment Research Center, Bozeman MT, 2015-; Status only Professor of Economics, University of Toronto, 2014-19; Faculty Associate, Population Studies Training Center, Brown University, 2014-; Faculty Associate, S4, Brown University, 2014-. Short visits: Cowles Foundation (2018), London School of Economics (2001, 2016), IEB Urban Economics Summer School, Barcelona (2016); Property and Environment Research Center (2010-15,2017); Philadelphia Federal Reserve Bank (2009, 2016, 2019); New York Federal Reserve Bank (2009,
    [Show full text]
  • The Bet: Paul Ehrlich, Julian Simon, and Our Gamble Over Earth’S Future
    23-215-MILLER_FINAL 5.13.14 5/13/2014 12:40 PM THE BET: PAUL EHRLICH, JULIAN SIMON, AND OUR GAMBLE OVER EARTH’S FUTURE By Paul Sabin, Yale University Press 2013 Reviewed by Richard B. Miller* It seems a matter of common sense that infinite resources do not exist, and we should, therefore, use our resources carefully. But it is a mistake to understate the impact of human ingenuity and market economics on the demand for resources we are inclined to think of as essential. This more complex truth was well understood by the Saudi Arabian oil minister, Sheikh Zaki Yamani, who famously stated that “[the] Stone Age did not end for lack of stone, and the Oil Age will end long before the world runs out of oil.”1 The story of this more complex truth about resource scarcity and its relationship to the modern environmental movement is well told by Paul Sabin in The Bet.2 The Bet has lessons for today’s debate over climate change and should serve as a cautionary tale for activists on either side. The Bet recounts the rivalry between Paul Ehrlich, the biologist who wrote The Population Bomb3 in 1968, and Julian Simon, an economist who wrote The Ultimate Resource4 in 1981. Ehrlich warned of the dangers of overpopulation and the destruction of the planet while Simon celebrated population growth and the ingenuity that enables humans to adapt to changing circumstances. Ehrlich relied on the simple logic that resources are finite, claiming that increased population would lead to mass starvation. Notwithstanding his doomsday message, he was immensely popular
    [Show full text]
  • The Law and Economics of Immigration Policy
    V8-Feb25-03 The Law and Economics of Immigration Policy Michael J. Trebilcock University of Toronto Faculty of Law Assisted by Benjamin Alarie B.A., M.A., J.D., LL.M. :I am indebted to Raymond Breton, Joe Carens, Kevin Davis, Ninette Kelley, Audrey Macklin, Jeffrey Reitz, Ayelet Schachar, Peter Schuck, Ralph Winter and participants at workshops at the University of Chicago and University of Toronto Law Schools for valuable comments on earlier drafts. TABLE OF CONTENTS I. INTRODUCTION................................................................................................................................1 II. STYLIZED FACTS ABOUT IMMIGRATION POLICIES IN RECEIVING COUNTRIES ...2 III. NORMATIVE CRITIQUES OF PREVAILING IMMIGRATION POLICIES.........................4 A) An Economic Perspective.................................................................................................................5 1) The Welfare Effects of Immigration...............................................................................................5 2) Critique of Existing Policies...........................................................................................................16 B) A Communitarian Perspective ......................................................................................................22 C) Liberal Perspectives........................................................................................................................27 IV. RETHINKING IMMIGRATION POLICIES .............................................................................29
    [Show full text]
  • International Economic Development Day and Time: M & W 2:00 – 3:15 Room: Bibb Graves Hall 211
    DVISION OF ECONOMICS & FINANCE SORRELL COLLEGE OF BUSINESS ECO 6664-THAA International Economic Development Day and Time: M & W 2:00 – 3:15 Room: Bibb Graves Hall 211 Professor: Dr. Daniel J. Smith Email: [email protected] Phone: 334-808-6485 Webpage: www.DanielJosephSmith.com Office: Bibb Graves Hall 137F Prerequisites None Description Examinations of theories of how nations develop and rise out of poverty. Office Hours M: 1:00-2:00 & 3:15-4:00 W: 1:00-2:00 & 3:15-4:00 Grading Attendence 10% Quizzes 10% Final Exam 30% Final Paper 50% Grading Scale (Percentage) A 90-100 B 80-89. 9 C 70-79. 9 D 60-69. 9 F 0-59. 9 *IMPORTANT GRADING POLICY NOTES* I do not “bump up” grades at the end of the semester by offering additional extra credit opportunities or additional points, no matter how close a numerical grade is to the next highest letter grade. Students are advised to take advantage of any potential extra credit opportunities offered throughout the semester since these opportunities will make a difference when grades are on the borderline. Academic Freedom and Trigger Warning: This course will, at times, use the economic way of thinking to evaluate economic, social, moral, and political issues that reasonable people may disagree on. Students’ opinions will never affect their grade. 2 The goal of this course, however, is to ensure students can demonstrate that they fully understand the economic way of thinking and its application to international development. Students have the right to disagree with me or their classmates without it affecting their grade.
    [Show full text]
  • The Natural Resource Curse: a Survey
    NBER WORKING PAPER SERIES THE NATURAL RESOURCE CURSE: A SURVEY Jeffrey A. Frankel Working Paper 15836 http://www.nber.org/papers/w15836 NATIONAL BUREAU OF ECONOMIC RESEARCH 1050 Massachusetts Avenue Cambridge, MA 02138 March 2010 The author would like to thank the Azerbaijan Diplomatic Academy in Baku and the Weatherhead Center for International Affairs at Harvard University for support, and to thank Sebastian Bustos, Oyebola Olabisi, and Lant Pritchett for comments. The views expressed herein are those of the author and do not necessarily reflect the views of the National Bureau of Economic Research. NBER working papers are circulated for discussion and comment purposes. They have not been peer- reviewed or been subject to the review by the NBER Board of Directors that accompanies official NBER publications. © 2010 by Jeffrey A. Frankel. All rights reserved. Short sections of text, not to exceed two paragraphs, may be quoted without explicit permission provided that full credit, including © notice, is given to the source. The Natural Resource Curse: A Survey Jeffrey A. Frankel NBER Working Paper No. 15836 March 2010 JEL No. O1,Q0 ABSTRACT It is striking how often countries with oil or other natural resource wealth have failed to grow more rapidly than those without. This is the phenomenon known as the Natural Resource Curse. The principle has been borne out in some econometric tests of the determinants of economic performance across a comprehensive sample of countries. This paper considers six aspects of commodity wealth, each of interest in its own right, but each also a channel that some have suggested could lead to sub-standard economic performance.
    [Show full text]
  • Lueck CV Jan 2021
    DEAN LUECK Professor Economics, Affiliated Professor of Law Director Program on Governance of Natural Resources at the Ostrom Workshop Indiana University PERSONAL & CONTACT INFORMATION Citizenship USA Address Department of Economics Indiana University Bloomington, IN 47408 Tel: 812.856.4522 Email [email protected] Website https://ostromworkshop.indiana.edu/people/directors/lueck-dean.html Google scholar http://scholar.google.com/citations?user=muI70xwAAAAJ&hl=en EDUCATION Ph.D. University of Washington; Economics, 1987. M.S. University of Montana; Environmental Studies, 1983. B.A. Gonzaga University; Biology (Magna Cum Laude), 1980. RESEARCH FIELDS Environmental and Natural Resource Economics, Law & Economics, Economic Organization, Property Rights. PROFESSIONAL EXPERIENCE 2016-Present Director, Program on Governance of Natural Resources at the Ostrom Workshop, Professor of Economics, Affiliated Professor of Law, Indiana University. 2004-2016 Professor of Agricultural & Resource Economics, Professor of Economics, Professor of Law, University of Arizona. 2004-2010 Bartley P. Cardon Chair in Agricultural & Resource Economics, University of Arizona. 1997-2004 Professor (Associate Professor), Department of Agricultural Economics & Economics, Montana State University. 1995-1997 Associate (Assistant) Professor, Department of Agricultural & Resource Economics, North Carolina State University. 1994-1995 John M. Olin Faculty Fellow, Yale Law School, Yale University 1991-1995 Associate (Assistant) Professor, Department of Economics, Louisiana State
    [Show full text]
  • Julian Simon and the “Limits to Growth” Neo-Malthusianism
    The Electronic Journal of Sustainable Development (2009) 1(3) Julian Simon and the “Limits to Growth” Neo-Malthusianism Paul Dragos Aligica* * Paul Dragos Aligica is a Senior Research Fellow at the Mercatus Center, a faculty fellow at the James Buchanan Center for Political Economy at George Mason University, and an adjunct fellow at the Hudson Institute. Email: daligica=a=gmu.edu (replace =a= with @) Abstract Whether one agrees with his views or not, an overview of his key arguments is an important step towards a Julian Simon’s work on population, environment clearer understanding of the intellectual history and sig- and technology is best seen against the rise of Neo- nificance of one of the most salient and sensitive themes Malthusianism in the second half of the 20th century as emerging on the public agenda during the second half of embodied in the “limits to growth” movement. Simon the 20th century. went beyond criticizing various components of the neo- Julian Simon, who wrote on resources, environment, Malthusian paradigm. His work articulated the elements and population (The Ultimate Resource, Population of a complex alternative social philosophy in which evo- Matters, The Economics of Population Growth, Population lution, social exchange, and creativity play pivotal roles. and Development in Poor Countries) but also on other Human creativity enables human beings to be different subjects, including statistics, research methods, and than the rest of the animal world and to create complex managerial economics (Basic Research Methods in Social orders based on ideas and exchange. The institutions Science, Issues in the Economics of Advertising, The Man- humans set up allow them to avoid nature’s (Malthusian agement of Advertising, Applied Managerial Econom- or neo-Malthusian) traps.
    [Show full text]
  • 9780754661139.Pdf
    ORDERED ANARCHY This page intentionally left blank Ordered Anarchy Jasay and his Surroundings Edited by HARDY BOUILLON Centre for the New Europe, Belgium and HARTMUT KLIEMT Frankfurt School of Finance and Management, Germany © Hardy Bouillon and Hartmut Kliemt 2007 All rights reserved. No part of this publication may be reproduced, stored in a retrieval system or transmitted in any form or by any means, electronic, mechanical, photocopying, recording or otherwise without the prior permission of the publisher. The editors have asserted their moral right under the Copyright, Designs and Patents Act, 1988, to be identified as the editors of this work. Published by Ashgate Publishing Limited Ashgate Publishing Company Gower House Suite 420 Croft Road 101 Cherry Street Aldershot Burlington, VT 05401-4405 Hampshire GU11 3HR USA England Ashgate website: http://www.ashgate.com British Library Cataloguing in Publication Data Ordered anarchy : Jasay and his surroundings 1. De Jasay, Anthony, 1925- 2. Liberalism I. Bouillon, Hardy II. Kliemt, Hartmut, 1949- 320.5’13 Library of Congress Cataloging-in-Publication Data Ordered anarchy : Jasay and his surroundings / [edited by] Hardy Bouillon and Hartmut Kliemt. p. cm. Includes index. ISBN 978-0-7546-6113-9 (hardcover : alk. paper) 1. Libertarianism. 2. Anarchism. 3. Legitimacy of governments. 4. State, The. 5. De Jasay, Anthony, 1925- I. Bouillon, Hardy. II. Kliemt, Hartmut, 1949- JC585.O684 2007 320.5’7092—dc22 2007007976 ISBN 978-0-7546-6113-9 Printed and bound in Great Britain by TJ International, Padstow, Cornwall Contents List of Figures and Tables vii Notes on Contributors ix Foreword xiii PART I Introduction 1 1 Introducing Tony de Jasay 3 James M.
    [Show full text]