In a time of extreme economic adjustment, it is important to remind everyone how markets in fact work. As explained in this article, “efficient” markets are evident every day on Wall Street, as well as on Main Street, whether we are living through “good times” or “bad times.”…
Critics of the market worry that as it expands the communal sphere declines. They also worry that the market encourages vice and has little or no scope for virtue. As I argue, however, the critics fail to realize that the market is a social space where commercial as well as social bonds are formed and nurtured. That it is also a moral space where virtues are learned and developed.
Dr. Virgil Storr argues that every market is animated by economic spirits that affect economic outcomes, and that these spirits are cultural phenomena, giving the example of St. Bernard's Parish's recovery following Hurricane Katrina in 2005.
For an exploration of the economic situation and more, the Mercatus Center at George Mason University invites you to join Dr. Bruce Yandle as he presents a year end, quarterly economic commentary and discusses the outlook for the year ahead.
Mercatus Senior Research Fellow Keith Hall explains the economics behind the jobs numbers and how to read between the lines to get a better understanding of what they mean for our economy and different groups of Americans.
In this book, Paul Dragos Aligica discusses some of the most challenging ideas emerging out of the research program on institutional diversity associated with Elinor Ostrom and her associates, while outlining a set of new research directions and an original interpretation of the significance and future of this program.