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Since Garrett Hardin published The Tragedy of the Commons in 1968, critics have argued that population growth and capitalism contribute to overuse of natural resources and degradation of the global environment. They propose coercive, state-centric solutions. This book offers an alternative view. Employing insights from new institutional economics, the authors argue that property rights, competitive markets, polycentric political institutions, and social institutions such as trust, patience and individualism enable society to conserve natural resources and mitigate harms to the global environment.
In recent years, prominent scholars, public intellectuals, and politicians have advocated reforming America’s economic model to embrace “common-good capitalism.” Catholic social teaching is a major influence on this movement. Is common-good capitalism compatible with the historical American commitments to private property rights and ordered liberty? What resources from Catholic social teaching can help orient free enterprise towards the common good? This book is the first scholarly inquiry into these exciting new questions. We can better understand common-good capitalism by exploring the political economy of distributism. Formulated in the early 20th century by prominent Catholic intel...
This thought-provoking Research Agenda examines various themes within economic studies that have become active areas of commentary for economists of the Austrian School. Contributors establish their own distinctive interpretations of how an Austrian Research Agenda should appear, displaying plainly that there is no set dogma within Austrian economics.
This book explores the life and work of Austrian-British economist, political economist, and social philosopher, Friedrich Hayek. Set within a context of the recent financial crisis, alongside the renewed interest in Hayek and the Hayek-Keynes debate, the book introduces the main themes of Hayek’s thought. These include the division of knowledge, the importance of rules, the problems with planning and economic management, and the role of constitutional constraints in enabling the emergence of unplanned order in the market by limiting the perverse incentives and distortions in information often associated with political discretion. Key to understanding Hayek's development as a thinker is hi...
With Contemporary Piano: A Performer and Composer’s Guide to Techniques and Resources, Alan Shockley provides a comprehensive resource for composers writing music that uses extended techniques for the piano, and for pianists interested in playing repertoire that makes use of techniques and/or implements unfamiliar to them. Shockley explains dozens of ways to prepare a piano without damaging the instrument, how to notate every standard technique and many, many obscure ones, and the specific geographies of every common concert hall piano. This will be the standard reference for pianists touring and playing inside-the-piano repertoire, and for composers at all levels of familiarity with the piano hoping to understand the mechanical miracle that is the modern piano.
There are two ways people coordinate their actions: through cooperation, exercised by economic power, and through control, exercised by political power. When economic and political power are held by the same people, the result is stagnation; when those who hold economic power are not the same people who hold political power, the result is progress. This book presents the ways in which economic power and political power can be separated, and how they can remain so, by analyzing the nature of power and the differences between economic and political power. The book then discusses the history of economic and political power, including hunter-gatherer societies, agrarian societies, and modern com...
"Anyone concerned with social justice will find this book makes him question his assumptions, rethink his premises, and think!" —Andrew P. Morriss, professor, Bush School of Government and Public Service, School of Law, Texas A&M University What is social justice? In these pages, twenty-one accomplished academics seek to do justice to "social justice." Inequality exists and it obviously causes rifts in societies. But it's not obvious how the government should address those rifts, or if it should address them at all. Have we forgotten the perhaps more efficient power of personal choice—and the corollary obligation: to serve our neighbors—to make our society more humane? Beginning with t...
The London School of Economics (LSE) has been and continues to be one of the most important global centres for economics. With six chapters on themes in LSE economics and 29 chapters on the lives and work of LSE economists, this volume shows how economics became established at the School, how it produced some of the world’s best-known economists, including Lionel Robbins and Bill Phillips, plus Nobel Prize winners, such as Friedrich Hayek, John Hicks and Christopher Pissarides, and how it remains a global force for the very best in teaching and research in economics. With original contributions from a stellar cast, this volume provides economists – especially those interested in macroeconomics and the history of economic thought – with the first in-depth analysis of LSE economics.