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Ethical Maturity and Economic Progress: Adam Smith’s Lesson Still Applies
As Vernon Smith argued, “markets economize on the need for virtue, but do not eliminate it.” The need for a virtuous, ethically mature citizenry is an important but often-overlooked theme in Adam…
Going Far by Going Together: James M. Buchanan’s Economics of Shared Ethics
We explore themes in Nobel Prize–winning economist James M. Buchanan’s work and apply his Ethics and Economic Progress to problems facing individuals and firms. We focus on Buchanan’s analysis of the…
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Chinese Development Lending & the Amplification Effect ∗
Over the last few decades, China has emerged as a major player in foreign aid and development lending. While a large empirical literature exists on the effects of foreign aid upon recipient…
The Predatory State and Coercive Assimilation: The Case of the Uyghurs in Xinjiang
This paper uses the predatory theory of the state to explain China’s recent violent assimilationist policies in Xinjiang directed at the region’s minority Muslim Uyghur population. The predatory…
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James M. Buchanan: Smithian Economist as Business Ethicist
We explore some of the key themes in the Nobel Prize-winning economist James M. Buchanan’s classic works, showing how his ethical thinking, particularly in his Ethics and Economic Progress, apply…
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Individualism, Economic Freedom, and Charitable Giving
We investigate the role of individualistic social rules and norms in charitable giving. Individualism in market societies is often criticized as corrupting morality and discouraging charitable…
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