The Life and Times of Gordon Tullock
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Bruno Leoni's Legacy and Continued Relevance
BRUNO LEONI’S LEGACY AND CONTINUED RELEVANCE Todd Zywicki, George Mason University School of Law George Mason University Law and Economics Research Paper Series 14-49 This paper is available on the Social Science Research Network at http://ssrn.com/abstract=2503080 Bruno Leoni’s Legacy and Continued Relevance By Todd Zywicki∗ George Mason University School of Law Abstract In his famous book, Freedom and the Law, originally published in 1961, Italian lawyer- economist Bruno Leoni posed the question of whether over the long run a society and legal system premised primarily on legislative law-making could sustain a system of individual liberty, or whether such a system required a common law-style foundation to support it. In this article I evaluate Leoni’s challenge and find that his predictions about the nature of a legislative- centered legal system not only are more relevant than ever, but that recent tendencies toward extreme and arbitrary law-making by executive edict are consistent with the trends and intellectual principles that Leoni identified over 50 years ago. By identifying the underlying jurisprudential theories that generated the current state of affairs, Leoni’s warnings are even more relevant today than ever before. JEL Codes: B3, K00, K1 Keywords: Bruno Leoni, F.A. Hayek, common law, legislation, spontaneous order, judicial process This year would have been Bruno Leoni’s 101st birthday but for his tragic murder in 1967.1 Leoni was an Italian lawyer cum academic who was one of Europe’s leading classical liberal thinkers in the post-War era. Friend to the leading classical liberals of the age—counting Hayek, Buchanan, and Alchian as friends—Leoni was not only a pioneer of law and economic thought but also an early adopter of public choice theory (Kemp 1990). -
Cornel West, Meet Richard Posner: Towards a Critical-Neoclassical Synthesis
Cornel West, Meet Richard Posner: Towards a Critical-Neoclassical Synthesis Francisco E.Guerra-Pujol* Do not ask who I am and do not ask me to remain the same .. Pet us leave itto our bureaucrats and our police to see that our papers are in order. I. INTRODUCTION Imagine Harvard professor Cornel West stuck in the same elevator with Judge Richard A. Posner. One is an African-American, a progressive champion of racial and economic equality, and a critical scholar of race, politics, and culture, while the other is of Jewish descent, a libertarian champion of free markets, and the intellectual godfather of 'law and economics'. Both scholars have published a prolific corpus of writings 2 and are at the forefront of two great intellectual movements: critical theory and law and economics. So what on Earth would these two leading public intellectuals say to each other? At the risk of sounding a bit irreverent, permit me to quote my favorite cartoon character: iay carumba!3 I mention Judge Posner and Professor West in particular to personify the deep intellectual divide between neoclassical economics (of which 'law and economics' is an offshoot) and critical theory.4 Indeed, this gulf is readily apparent inmany of the papers published in this LatCrit X Symposium issue.5 Furthermore, this distrust is mutual. Just as most critical scholars share a profound antipathy towards orthodox economics, many neoclassical economists and mainstream lawyer- * Associate Professor, Catholic University of Puerto Rico School of Law. I am grateful to the many critical scholars who helped me develop the ideas in this paper. -
Politics of Unregulation: Public Choice and Limits on Government Peter L
Cornell Law Review Volume 75 Article 2 Issue 2 January 1990 Politics of Unregulation: Public Choice and Limits on Government Peter L. Kahn Follow this and additional works at: http://scholarship.law.cornell.edu/clr Part of the Law Commons Recommended Citation Peter L. Kahn, Politics of Unregulation: Public Choice and Limits on Government , 75 Cornell L. Rev. 279 (1990) Available at: http://scholarship.law.cornell.edu/clr/vol75/iss2/2 This Article is brought to you for free and open access by the Journals at Scholarship@Cornell Law: A Digital Repository. It has been accepted for inclusion in Cornell Law Review by an authorized administrator of Scholarship@Cornell Law: A Digital Repository. For more information, please contact [email protected]. THE POLITICS OF UNREGULATION: PUBLIC CHOICE AND LIMITS ON GOVERNMENT Peter L. Kahn t I Many economists and economically-minded lawyers in recent years have come to view much governmental regulation of business as the unfortunate result of a perverse quirk in our political system., In this view, representative democracy gives unwarranted weight to the interests of small and discrete pressure groups, whose interests may be directly opposed to the interests of the larger public.2 Through an analysis of the effect of the size of a lobbying group on its political effectiveness, 3 advocates of this view (hereinafter de- scribed as "public choice theory" or the economic theory of legisla- tion) have concluded that small groups of beneficiaries are more effective in lobbying for special interest legislation than those larger groups which pay the bills are in resisting it. -
The Mont Pelerin Society: a MANDATE RENEWED
1 The Mont Pelerin Society: A MANDATE RENEWED By Deepak Lal Ladies and Gentlemen, Welcome to this special meeting of the MPS. In this address I would like to explain why it has been called at such short notice and how I hope it provides a renewal of the mandate our founders set for the society.1 After being anointed with the Presidency of this august body in Tokyo (in early September), my wife and I went on to a lecture tour in China. We were in Shanghai on a tour of the magnificent Suzhou industrial estate outside Shanghai, with MPS member Steven Cheung. On the afternoon of the 15th September Steve received a call on his Blackberry that Lehman Brothers had gone into bankruptcy. Steve opined that this marked the end of American capitalism. I thought this somewhat hyperbolic. But, on getting back to London at the end of September, as I was tending my roses, my neighbor, a Thatcherite heart surgeon, said over the hedge that, given the recent events in the capital markets, did I still stand by the views I had expressed in my last book on "Reviving the Invisible Hand".2 I replied that even a severe trade cycle downturn would not undermine the well tested classical liberal principles I had espoused. Though, Gordon Brown might be in trouble having repeatedly congratulated himself for having abolished boom and bust. Two subsequent events shattered this complacency. I had been following a political betting site called Betfair on which some youngsters at the Tokyo MPS meeting were placing bets on a McCain victory. -
Roger Sherman
ROGER SHERMAN Addresses Department of Economics 4903 Mandell University of Houston Houston, TX 77006 Houston, TX 77204-5882 713 942-7481 713 743-3836 (fax 713-743-3798) Education Ph.D., Carnegie-Mellon University, Economics (1966) M.S., Carnegie-Mellon University, Economics (1965) M.B.A., Harvard University, Finance (1959) B.S., Grove City College, Mathematics (1952) Present Position Professor of Economics, University of Houston Previous Positions Brown-Forman Professor of Economics, University of Virginia (1982-99); Professor (1971-99); Associate Professor(1969-71); Assistant Professor (1965-68) Chairman, Department of Economics, University of Virginia (1982-1990); Assistant Chairman (1966-68); Director of Graduate Studies in Economics (1974-79); Director of Undergraduate Studies in Economics (1991-93); Director of Distinguished Majors Program in Economics (1992-94) Manager of Manufacturing Control (1960-62), Manager of Manufacturing Standards (1959-60), Information Records Division of IBM Corporation Naval Officer, U.S. Navy (1952-56) Other Experience Editorial Board, Applied Economics (1969-73) Associate Editor, Applied Economics (1971-73) Editorial Board, Journal of Regulatory Economics (1988- ) Editorial Board, Industrial Organization Review (1987- ) Editorial Board, Southern Economic Journal (1977-80) Editorial Board, Journal of Economics and Business (1974- ) President, Southern Economic Association (1999-2000) President-Elect, Southern Economic Association (1998-1999) First Vice President, Southern Economic Association (1991-92) -
David R. Henderson: Why Everyone Read Samuelson - WSJ 8/17/15, 11:06 AM
CORE Metadata, citation and similar papers at core.ac.uk Provided by Calhoun, Institutional Archive of the Naval Postgraduate School Calhoun: The NPS Institutional Archive Faculty and Researcher Publications Faculty and Researcher Publications 2009-12 Why Everyone Read Samuelson Henderson, David R. The Wall Street Journal http://hdl.handle.net/10945/46117 David R. Henderson: Why Everyone Read Samuelson - WSJ 8/17/15, 11:06 AM This copy is for your personal, non-commercial use only. To order presentation-ready copies for distribution to your colleagues, clients or customers visit http://www.djreprints.com. http://www.wsj.com/articles/SB10001424052748704869304574595823818190240 COMMENTARY Why Everyone Read Samuelson The late Nobel laureate's mathematical approach to economics has been a mixed blessing. By DAVID R. HENDERSON Updated Dec. 14, 2009 7:10 p.m. ET Three years after World War II drew to a close, a young professor at MIT published "Foundations of Economic Analysis." Its mathematical approach to economics would revolutionize the profession. And its author, Paul Samuelson, would go on to earn many awards and honors, culminating in 1970, when he won the Nobel Prize in economics—the second year it was awarded. Samuelson died on Sunday at the age of 94. His influence has been profound, but the mathematization of economics has been a mixed blessing. The downside is that the math hurdle in leading U.S. economics programs is now so high that people who grasp the power of economic concepts to explain human behavior are losing out in the competition to mathematicians. The upside is that Samuelson sometimes used math to resolve issues that had not been resolved at a theoretical level for decades. -
MONT PELERIN SOCIETY by Eamonn Butler Based on a History of the Mont Pelerin Society by Max Hartwell
A SHORT HISTORY OF THE MONT PELERIN SOCIETY By Eamonn Butler Based on A History of the Mont Pelerin Society by Max Hartwell INTRODUCTION In 1995 the Liberty Fund published A History of the Mont Pelerin Society, written by the Oxford historian (and past President of the Society), Professor Max Hartwell. The book is comprehensive, but is now difficult to obtain; and much has happened since 1995. So the Board of the Society asked me to précis the History and bring it up to date, giving members and prospective members a short guide to the history and ethos of the Society and to some of the key individuals and events that have shaped it. The Society and I are very grateful to the family of our friend Max Hartwell for their permission to borrow very heavily from his work. WHAT IS THE MONT PELERIN SOCIETY? Hartwell opens his History by saying that the Mont Pelerin Society is “not well known” and has “no demonstrably proven role in world affairs.” Many of its individual members, by contrast have indeed been well known and influential. Some have become senior government ministers (such as Sir Geoffrey Howe of the United Kingdom, Antonio Martino of Italy, Ruth Richardson of New Zealand, and George Shultz of the United States) or senior officials (e.g. former Federal Reserve Chairman Arthur Burns). A few have even become presidents or prime ministers (among them Ludwig Erhard of Germany, Luigi Einaudi of Italy, Mart Laar of Estonia, Ranil Wickremasinghe of Sri Lanka and Václav Klaus of the Czech Republic). -
From Social Control to Financial Economics: the Linked Ecologies of Economics and Business in Twentieth Century America
Theor Soc (2013) 42:121–159 DOI 10.1007/s11186-012-9187-3 From social control to financial economics: the linked ecologies of economics and business in twentieth century America Marion Fourcade & Rakesh Khurana Published online: 27 February 2013 # Springer Science+Business Media Dordrecht 2013 Abstract This article draws on historical material to examine the co-evolution of economic science and business education over the course of the twentieth century, showing that fields evolve not only through internal struggles but also through struggles taking place in adjacent fields. More specifically, we argue that the scientific strategies of business schools played an essential—if largely invisible and poorly understood—role in major transformations in the organization and substantive direc- tion of social-scientific knowledge, and specifically economic knowledge, in twenti- eth century America. We use the Wharton School as an illustration of the earliest trends and dilemmas (ca. 1900–1930), when business schools found themselves caught between their business connections and their striving for moral legitimacy in higher education. Next, we look at the creation of the Carnegie Tech Graduate School of Industrial Administration after World War II. This episode illustrates the increas- ingly successful claims of social scientists, backed by philanthropic foundations, on business education and the growing appeal of “scientific” approaches to decision- making and management. Finally, we argue that the rise of the Graduate School of Business at the University of Chicago from the 1960s onwards (and its closely related cousin at the University of Rochester) marks the decisive ascendancy of economics, and particularly financial economics, in business education over the other behavioral M. -
Josh Wright's
University of Florida Levin College of Law UF Law Scholarship Repository UF Law Faculty Publications Faculty Scholarship 4-2013 Josh Wright’s “Chicago School Papers”: An Overview William H. Page University of Florida Levin College of Law, [email protected] Follow this and additional works at: https://scholarship.law.ufl.edu/facultypub Part of the Antitrust and Trade Regulation Commons Recommended Citation William H. Page, Josh Wright’s “Chicago School Papers”: An Overview, 13-APR Antitrust Source 5 (2013), available at http://scholarship.law.ufl.edu/facultypub/650 This Article is brought to you for free and open access by the Faculty Scholarship at UF Law Scholarship Repository. It has been accepted for inclusion in UF Law Faculty Publications by an authorized administrator of UF Law Scholarship Repository. For more information, please contact [email protected]. theantitrustsource Ⅵ www.antitrustsource.com Ⅵ A p r i l 2 0 13 5 Josh Wright’s “Chicago School Papers”: An Overview By William H. Page Marshall M. Criser Eminent Scholar, University of Florida Levin College of Law. In what follows, I consider three of Commissioner Wright’s “Chicago School Papers.” In these papers, Commissioner Wright considers the past, present, and future role of the Chicago School of antitrust analysis in the shaping of law and policy, offering along the way some interesting insights into what his priorities at the FTC are likely to be. The papers discussed have common themes: the mischaracterization of the “Chicago School,” the scientific advantage of dispensing altogether with “School” labels, and a focus on empirical findings in shaping antitrust analysis. -
Robert Tollison and the Economics of Politics
Robert D. Tollison and the economics of politics Roger D. Congleton West Virginia University Abstract: Robert Tollison was the most prolific of the second generation of public choice scholars from the Virginia School. Tollison’s many applications of the eco- nomic choice approach to politics, law, regulations and religion demonstrated that narrow self-interest can account for a broad range of political, economic, and other social phenomena. Tollison was a talented editor and an inspiring teacher. He edited several influential books and was coeditor of the journal Public Choice for 18 years, in- creasing its prominence and impact. He taught several generations of students, super- vising 49 Ph.D. dissertations and coauthoring papers with most of his students to help them launch their own academic careers. He was also director of the Center for Study of Public Choice during its glory days at George Mason University. 1. Tollison the scholar Robert Tollison was a remarkably productive man, combining careers as scholar, public serv- ant, mentor, and economic consultant in a manner that he made look easy. He nearly always seemed to be relaxed and easygoing. Those characteristics, together with his modesty, made his accomplishments easy to overlook. In this short piece, I try to give readers a sense of his contributions to public choice and of the skill set and personality traits that contributed to them. Before doing so, it is useful to reflect on Tollison’s scholarly output. His curriculum vi- tae lists 13 books, 22 edited collections, and seven editions of a two-volume principles of economics textbook. -
ΒΙΒΛΙΟΓ ΡΑΦΙΑ Bibliography
Τεύχος 53, Οκτώβριος-Δεκέμβριος 2019 | Issue 53, October-December 2019 ΒΙΒΛΙΟΓ ΡΑΦΙΑ Bibliography Βραβείο Νόμπελ στην Οικονομική Επιστήμη Nobel Prize in Economics Τα τεύχη δημοσιεύονται στον ιστοχώρο της All issues are published online at the Bank’s website Τράπεζας: address: https://www.bankofgreece.gr/trapeza/kepoe https://www.bankofgreece.gr/en/the- t/h-vivliothhkh-ths-tte/e-ekdoseis-kai- bank/culture/library/e-publications-and- anakoinwseis announcements Τράπεζα της Ελλάδος. Κέντρο Πολιτισμού, Bank of Greece. Centre for Culture, Research and Έρευνας και Τεκμηρίωσης, Τμήμα Documentation, Library Section Βιβλιοθήκης Ελ. Βενιζέλου 21, 102 50 Αθήνα, 21 El. Venizelos Ave., 102 50 Athens, [email protected] Τηλ. 210-3202446, [email protected], Tel. +30-210-3202446, 3202396, 3203129 3202396, 3203129 Βιβλιογραφία, τεύχος 53, Οκτ.-Δεκ. 2019, Bibliography, issue 53, Oct.-Dec. 2019, Nobel Prize Βραβείο Νόμπελ στην Οικονομική Επιστήμη in Economics Συντελεστές: Α. Ναδάλη, Ε. Σεμερτζάκη, Γ. Contributors: A. Nadali, E. Semertzaki, G. Tsouri Τσούρη Βιβλιογραφία, αρ.53 (Οκτ.-Δεκ. 2019), Βραβείο Nobel στην Οικονομική Επιστήμη 1 Bibliography, no. 53, (Oct.-Dec. 2019), Nobel Prize in Economics Πίνακας περιεχομένων Εισαγωγή / Introduction 6 2019: Abhijit Banerjee, Esther Duflo and Michael Kremer 7 Μονογραφίες / Monographs ................................................................................................... 7 Δοκίμια Εργασίας / Working papers ...................................................................................... -
Three Essays on Environmental Economics and International Trade Patrick Mclaughlin Clemson University, [email protected]
Clemson University TigerPrints All Dissertations Dissertations 5-2008 Three Essays on Environmental Economics and International Trade Patrick Mclaughlin Clemson University, [email protected] Follow this and additional works at: https://tigerprints.clemson.edu/all_dissertations Part of the Economics Commons Recommended Citation Mclaughlin, Patrick, "Three Essays on Environmental Economics and International Trade" (2008). All Dissertations. 204. https://tigerprints.clemson.edu/all_dissertations/204 This Dissertation is brought to you for free and open access by the Dissertations at TigerPrints. It has been accepted for inclusion in All Dissertations by an authorized administrator of TigerPrints. For more information, please contact [email protected]. THREE ESSAYS ON ENVIRONMENTAL ECONOMICS AND INTERNATIONAL TRADE A Dissertation Presented to the Graduate School of Clemson University In Partial Fulfillment of the Requirements for the Degree Doctor of Philosophy Applied Economics by Patrick Arthur McLaughlin May 2008 Accepted by: Daniel Benjamin, Committee Chair Scott Baier Bentley Coffey Robert Tollison ABSTRACT This dissertation addresses the broad topic of appropriate metrics, proxies, and estimation methods in environmental economics and international trade research, presented as three separate studies. The first, entitled, “Something in the Water? Testing for Groundwater Quality Information in the Housing Market,” examines how informed real estate markets are with respect to groundwater quality by using a couple of different proxies for groundwater quality in a hedonic framework. This research topic has potentially suffered from imperfect proxies and incomplete information, which I test. In the second, entitled, “Do Economic Integration Agreements Actually Work? Issues in Understanding the Causes and Consequences of the Growth in Regionalism,” I address a topic in international trade that has consistently suffered from endogeneity biases in estimations: the effect of economic integration agreements on bilateral trade flows.