The aim of the social sciences is to explain and understand social phenomena. They are concerned with how the purposeful action of individuals operating on the basis of their own peculiar knowledge of their particular circumstances of time and place bring about orders that no single mind did or could deliberately design. Understanding purposeful human action and, so, the emergence of social phenomena, means understanding the opinions and beliefs that guide individual decision-making.
This essay focuses on Peter Boettke as an undergraduate teacher of economics. This paper discusses the characteristics of an effective teacher in this regard. Peter Boettke embodies all of these characteristics and serves as an example to those who strive to be effective teachers of economic concepts and ideas.
The Dodd-Frank Wall Street Reform and Consumer Protection Act of 2010 has ensured that a shareholder’s ability to place nominees to the board onto the corporate ballot, an objective long advocated by the institutional investor community, will soon be implemented by the Securities and Exchange Commission. Advocates of proxy access urge that it will help hold Boards of Directors accountable to their owners. Critics argue that it will give conflicted shareholders, like unions and state pensions, power they will use to facilitate their political objectives at the expense of ordinary shareholders. The shareholder primacy and director primacy theories of corporate law have framed an extensive debate in the literature. Regardless of which theory holds force, we can expect Boards to implement defensive strategies in the wake of proxy access to limit shareholder power, in the same way that Boards implemented defensive tactics in response to the hostile takeovers of the mid-1980s. Delaware’s review of Board proxy access defenses will shape its role in the foreseeable future in much the same way review of Board takeover defenses shaped its role over the last 20 years.
This paper analyzes the connection between discrimination and entrepreneurship. The study contends that the entrepreneur is the central mechanism through which inefficiencies associated with discrimination are competed away. In addition to illuminating the mechanism through which existing discrimination tends to be eliminated, we also consider the more difficult case of consumer discrimination.
Why do criminals use constitutions? This paper argues that constitutions perform three functions in criminal organizations. By performing these functions, constitutions facilitate criminal cooperation and enhance criminals’ profit.
Earlier in July, Eurozone finance ministers agreed in principle to bailout Greece after the country implemented new economic reforms and help it recover from its massive financial crisis.
While the unemployment rate overall has hovered around 25% in Greece, Millennials have been hit hardest where one in two are unemployed.
Why should millennials care about what's going on in Greece? Scott Sumner, Director of the Program on Monetary Policy at the Mercatus Center at George Mason University, believes that Greece is just an extreme example of what happened here in the United States.
Please join us for an intimate dinner and discussion with Dr. Don Boudreaux, Mercatus Center Board Member and Senior Fellow with the F. A. Hayek Program for Advanced Study in Philosophy, Politics, and Economics.
Luigi Zingales, one of the world’s foremost thinkers on financial development and capitalism, will join Tyler Cowen for a conversation about the policies that will shape capitalism moving into the future.
This book presents 17 oral histories of Hurricane Katrina survivors from four diverse New Orleans communities. The oral histories explore how these individuals, families, and communities began to rebuild after the devastation.