Articles
Modern Monetary Theory Meets Greece and Chicago
During the fall of 2009, George Papandreou headed the ticket of the Panhellenic Socialist Movement, known by its acronym PASOK, against the then-governing conservative party, New Democracy, in the Greek national elections.
Financial Development in Hong Kong and China: A Hayekian Perspective
Even before the return of Hong Kong to Chinese sovereignty in 1997, all these stakeholders have had economic incentives to maintain and promote Hong Kong’s status as an international financial center.
U.S. Trade Policy toward China: Learning the Right Lessons
Labor market and cultural disruptions in the United States are real and important, as is China’s current and unfortunate turn toward illiberalism and empire.
Impact of Institutions in the Aftermath of Natural Disasters
.The number and impact of natural disasters are increasing because of climate change and more people living in urban areas
Economic Well‐Being under Plan versus Market: The Case of Estonia and Finland
Historically, Estonia and Finland shared similar cultural, political, and economic characteristics apart from the almost 50 years of Soviet rule (1944–1991) in Estonia (Raun 1987).
Barber Licensing in Arkansas: Public Health or Private Gain?
In Arkansas, the barber profession has been regulated and licensed for more than 80 years, and until recently, the issue was mostly absent from the political debate.
How Misaligned Incentives Hinder Foster Care Adoption
Adoption, particularly adoption out of foster care, has not been well studied within the field of economics.
The Economic Impact of Tax Changes, 1920–1939
Estimates of the elasticity of taxable income (ETI) investigate how high‐income taxpayers faced with changes in marginal tax rates respond in ways that reduce expected revenue from higher tax rates, or raise more than expected from lower tax rates.
Book Reviews
Why Culture Matters Most
What determines whether rich and free societies arise and endure?
Competition Overdose: How Free Market Mythology Transformed Us from Citizen Kings to Market Servants
Is competition always the answer to underperforming markets?
The Rise of Carry: The Dangerous Consequences of Volatility Suppression and the New Financial Order of Decaying Growth and Recurring Crisis
Financial systems in which many participants rely predominantly on leverage and carry rather than the quality of the assets to reach their return goals are unstable since small losses can trigger widespread insolvencies.
Classical Liberalism and the Industrial Working Class: The Economic Thought of Thomas Hodgskin
Were Hodgskin alive today, it is likely—from Mingardi’s telling—that he would rail not against capitalism but against what we now call crony capitalism.