The single most important proposition in economic theory, first stated by Adam Smith, is that competitive markets do a good job allocating resources. Vilfredo Pareto’s later formulation was more ...

The JEI has been internationally respected journal of institutional and evolutionary economics since its founding in 1967. The journal has published articles that describe aspects of evolving economic ...

U.S. Sen. Marco Rubio of Florida speaks during the Conservative Political Action Conference on March 6 in National Harbor, Maryland. Let’s formalize our understanding of this a bit. In economics, ...

Social Theory and Practice is intended to provide a forum for the discussion of theoretical and applied questions in social, political, legal, economic, educational, and moral philosophy, including ...