From Gary Becker. The role of government in causing the Great Recession.
From Peter Klein. This book could be a blockbuster on the role of institutions, the rules of the game, in social life.
Engagingly written, The Institutional Revolution traces the dramatic shift from premodern institutions based on patronage, purchase, and personal ties toward modern institutions based on standardization, merit, and wage labor—a shift which was crucial to the explosive economic growth of the Industrial Revolution.
Why regulation is good for lawyers (not surprising really),
Putin and the return of the KGB state. Just to show what happens when you live without the rule of law or a moral framework for two or three generations. Are some of our trade unions going that way?
Under Putin’s direction, a “state mafia” has replaced the street mafias of the chaotic Yeltsin years. At the bottom of this mafia’s pecking order, armies of corrupt tax, fire and health inspectors have taken the place of the brawny young street thugs and racketeers of the Yeltsin era. They can ruin any small or medium-sized business that does not cooperate with them. At higher levels, municipal and regional officials allocate contracts, receive bribes from local businesses, wipe out fines or indictments, and look the other way in the case of unsafe cruise ships. At the top of the ladder, ministers and deputy prime ministers have replaced private oligarchs as heads of gigantic energy and mineral concerns. They deal with their victims politely in fancy hotels and modern offices, but the result is a classic shakedown worthy of the New Jersey mafia.
Peter Boettke joins a debate on the future of free markets in The European.