Tag: Public Choice
Jean Tirole, 2014 Nobel Laureate in Economic Sciences

The 2014 Nobel Prize in Economic Sciences was awarded to Jean Tirole of the Toulouse School of Economics. According to Reuters, the prize recognizes Professor Tirole’s work aimed at “taming” private business firms through governmental regulatory interventions and antitrust law enforcement. That summary is true as far as it goes. Professor Tirole indeed spent...
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Debunking Democracy with James M. Buchanan

Among the first questions young people ask upon their political awakening is one that should concern Americans of all ages: Why don’t democratic governments operate the way our civic classes taught us? Perhaps no one of his generation thought more deeply about this question than the economist James M. Buchanan (1919–2013). The late Nobel...
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Governmental “Reform” Is an Oxymoron

Pick your favorite scandal du jour: Four employees of the Export-Import Bank recently were forced out of their jobs following allegations that they had solicited or accepted bribes from beneficiaries of the bank’s subsidies for foreign-based purchasers of U.S. exports or steered loans to politically powerful U.S. exporters. The director of the Internal Revenue...
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“Risky Business” in Climate Change Policy

Alicia Mundy writes in the Wall Street Journal of June 24, 2014, that a coalition of environmentalists and at least some of the many corporate cronies of the federal government are pressing a proposal to require private business entities to account for and to report to shareholders the risks to which they are exposed...
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The Independent Review—Spring 2014 Issue Now Available

The Spring 2014 issue of The Independent Review, the Independent Institute’s quarterly journal, has just been printed and is en route to subscribers. Here’s a quick look at the contents: Is the near extermination of the North American bison a clear example of “the tragedy of the commons”? No, not if, like Peter J....
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New Faculty for 2014 Challenge of Liberty Student Seminars

Every year, the Independent Institute’s Challenge of Liberty Student Seminars become a forum for students to learn the foundations of a free and prosperous society. These seminars are inspiring, challenging, and fun—in large part because the speakers we invite are exceptionally devoted to teaching and mentoring students. In 2014, three new speakers will join...
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Challenge of Liberty Student Seminars—Application Deadline: March 31

The Challenge of Liberty Student Seminars are returning for another exciting season! Thanks to the generous support of donors, we will hold two seminars for college students—one at the University of Denver (June 16–20) and one at the University of California, Berkeley (July 7–11)—and one seminar for high-school students at the Independent Institute’s headquarters...
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The Median Voter, the Marginal Consumer, and Obamacare: Why No Politician Competes for the Votes of Patients with Bladder Cancer

On October 30, President Obama gave a now infamous speech celebrating the going out of business of so-called “bad apple” insurers. According to the President, “before the Affordable Care Act, these bad apple insurers had free rein every single year to limit the care that you received or used minor pre-existing conditions to jack...
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Romanticizing Healthcare Reform

One of the most important tenets of public choice economics is the observation that we do not become different people when we leave the private sector and enter the public square. We do not become less selfish, for example, when we leave the supermarket and enter the voting booth. Nor do we become more...
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Crony Capitalism?

The US Postal Service is selling hundreds of properties in prime locations across the country to help them deal with their financial difficulties. In the past, the USPS has used multiple real estate agents to sell their properties, but in 2011 the USPS signed a contract with CBRE Group to be the sole provider...
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