Liberty Review

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Trade, Foreign Direct Investment, and Immigration Policy Making in the United States

MARGARET E. PETERS
INTERNATIONAL ORGANIZATION 68.4 (2014): 811-844

This article argues that immigration policy formation in the United States after 1950 can only be understood in the context of the increasing integration of world markets. Read the rest of this entry »

Filed under: Economics, History, Politics

Oil Wealth, Colonial Legacies, and the Challenges of Economic Liberalization

NIMAH MAZAHERI
POLITICAL RESEARCH QUARTERLY 67.4 (2014): 769-782

Abstract: This article examines the relationship between oil wealth and the adoption of economic liberalization, specifically financial and investment reforms. It argues that volatility in the international oil market renders oil-producing countries less likely to adopt financial and investment liberalization. Read the rest of this entry »

Filed under: Economics, Politics

Böhm-Bawerk’s Approach to Entreprenuership

MATTHEW McCAFFREY, JOSEPH SALERNO
JOURNAL OF THE HISTORY OF ECONOMIC THOUGHT 36.4 (2014): 435-454

Abstract: This paper explores the neglected theory of entrepreneurial profit proposed by Eugen von Böhm-Bawerk. Although historians of thought often dismiss Böhm-Bawerk’s writings on this topic, we argue that he did develop a coherent theory of entrepreneurial decision making and profit distinct from his theory of interest. Read the rest of this entry »

Filed under: Economics

James M. Buchanan, Chicago, and Post-War Public Finance

MARIANNE JOHNSON
JOURNAL OF THE HISTORY OF ECONOMIC THOUGHT 36.4 (2014): 479-497

Abstract: This paper examines James Buchanan’s earliest writings within the context of post-WWII public finance theory and his education at Chicago. Public choice scholars have long recognized their ties to Chicago, but few have examined Chicago’s role in serving as the primordial soup for Buchanan’s later work in public choice. Read the rest of this entry »

Filed under: Economics, Politics

Adam Smith’s “Tolerable Administration of Justice” and the Wealth of Nations

DOUGLAS A. IRWIN
NBER WORKING PAPER NO. 20636 (October 2014)

Abstract: In the Wealth of Nations, Adam Smith argues that a country’s national income depends on its labor productivity, which in turn hinges on the division of labor. But why are some countries able to take advantage of the division of labor and become rich, while others fail to do so and remain poor? Read the rest of this entry »

Filed under: Economics, Law, Political Theory, Politics

Political Economy of Trade Openness and Government Size

RYO ARAWATARI
ECONOMICS & POLITICS (2014). ADVANCED ONLINE PUBLICATION. DOI: 10.1111/ecpo.12049

Abstract: This paper proposes a theoretical model that may provide useful insights into the relationship between trade openness and the size of government, as well as a possible explanation for the results of empirical tests of such a relationship. Read the rest of this entry »

Filed under: Economics, Politics

Summaries Archive

Recent Posts: Liberty Review Books

Free: Why Science Hasn’t Disproved Free Will. Alfred R. Mele. Oxford University Press. 2014

Does free will exist? The question has fueled heated debates spanning from philosophy to psychology and religion. The answer has major implications, and the stakes are high. To put it in the simple terms that have come to dominate these debates, if we are free to make our own decisions, we are accountable for what […]

Leo Strauss: Man of Peace. Robert Howse. Cambridge University Press. 2014.

Leo Strauss is known to many people as a thinker of the right, who inspired hawkish views on national security and perhaps even advocated war without limits. Moving beyond gossip and innuendo about Strauss’s followers and the Bush administration, this book provides the first comprehensive analysis of Strauss’s writings on political violence, considering also what […]

The End of Socialism. James Otteson. Cambridge University Press. 2014

Is socialism morally superior to other systems of political economy, even if it faces practical difficulties? In The End of Socialism, James R. Otteson explores socialism as a system of political economy – that is, from the perspectives of both moral philosophy and economic theory.

Recent Posts: Liberty Review América Latina

El Crédito y la Libertad Bancaria en un Régimen de Reserva Fraccionaria

ALEJANDRO N. SALA REVISTA DE INSTITUCIONES, IDEAS Y MERCADOS 60 (2014): 5-31 En relación al régimen crediticio, en la Escuela Austríaca de Economía hay dos grandes posturas: la que defiende un encaje o Reserva total, del cien por ciento, y la que prefiere un encaje o reserva fraccionaria.

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