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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...

Why did enduring traditions of economic and political liberty emerge in Western Europe and not elsewhere? Representative democracy, constitutionalism, and the rule of law are crucial for establishing a just and prosperous society, which we usually treat as the fruits of the Renaissance and Enlightenment, as Western European societies put the Dark Ages behind them. In The Medieval Constitution of Liberty, Salter and Young point instead to the constitutional order that characterized the High Middle Ages. They provide a historical account of how this constitutional order evolved following the...

Why did enduring traditions of economic and political liberty emerge in Western Europe and not elsewhere? Representative democracy, constitutionalism, and the rule of law are crucial for establishing a just and prosperous society, which we usually treat as the fruits of the Renaissance and Enlightenment, as Western European societies put the Dark Ages behind them. In The Medieval Constitution of Liberty, Salter and Young point instead to the constitutional order that characterized the High Middle Ages. They provide a historical account of how this constitutional order evolved following the...

Contemporary monetary institutions are flawed at a foundational level. The reigning paradigm in monetary policy holds up constrained discretion as the preferred operating framework for central banks. But no matter how smart or well-intentioned are central bankers, discretionary policy contains information and incentive problems that make macroeconomic stability systematically unlikely. Furthermore, central bank discretion implicitly violates the basic jurisprudential norms of liberal democracy. Drawing on a wide body of scholarship, this volume presents a novel argument in favor of embedding...

Contemporary monetary institutions are flawed at a foundational level. The reigning paradigm in monetary policy holds up constrained discretion as the preferred operating framework for central banks. But no matter how smart or well-intentioned are central bankers, discretionary policy contains information and incentive problems that make macroeconomic stability systematically unlikely. Furthermore, central bank discretion implicitly violates the basic jurisprudential norms of liberal democracy. Drawing on a wide body of scholarship, this volume presents a novel argument in favor of embedding...