Institutions are the formal or informal 'rules of the game' that facilitate economic, social, and political interactions. These include such things as legal rules, property rights, constitutions, political structures, and norms and customs. The main theoretical insights from Austrian economics regarding private property rights and prices, entrepreneurship, and spontaneous order mechanisms play a key role in advancing institutional economics. The Austrian economics framework provides an understanding for which institutions matter for growth, how they matter, and how they emerge and can change...
Institutions are the formal or informal 'rules of the game' that facilitate economic, social, and political interactions. These include such things as...
This Element surveys the field of defense, peace, and war economics with particular emphasis on the contributions made by Austrian economists. I review treatments of defense, peace, and war by the classical economists and discuss the rise of a distinct and systematic defense, peace, and war economics field of study.
This Element surveys the field of defense, peace, and war economics with particular emphasis on the contributions made by Austrian economists. I revie...
