Using data from the Mercatus Center’s Regulatory Report Card project and statistics on Office of Information and Regulatory Affairs (OIRA) review time from reginfo.gov, we examine whether the quality and use of regulatory analysis vary consistently with OIRA actions.
A crisis is an unexpected event that creates uncertainty and poses a direct or perceived threat to the goals and norms of an organization or society. While crises are ubiquitous, how societies respond to crises, and the way crises affect societies, is largely a matter of constitutional political economy. Drawing on a variety of insights from James Buchanan's research, this paper develops the political economy of crisis.
James M. Buchanan has argued that the primary role that the economist plays in society is a pedagogical one. The job of the economist is to teach students the principles of economics, most notably an understanding of spontaneous order and the role of the price system in generating that order within the market.
This paper analyzes “constitutional effectiveness” – the degree to which constitutions can be enforced – in the system of government vs. the system of clubs. Professor Leeson argues that clubs have residual claimants on revenues generated through constitutional compliance, operate in a highly competitive environment, and permit individuals to sort themselves according to their governance needs.
Nate Silver, today’s most influential statistician and founder of the award-winning data website FiveThirtyEight, will join Tyler Cowen for a wide-ranging, intellectual dialogue as part of the Conversations with Tyler series.
History has shown that tax reforms seldom last when special interests have substantial incentives to lobby Congress for tax breaks. Making the tax code as simple—by taxing a broad base at the same low rate—and as transparent as possible will help reduce the ability and incentives to reverse future tax reforms.