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Adam Smith famously argued that increased competition in religion would result in more religious tolerance and that the benefits of competition in the marketplace would also be seen in religious instruction when many religious sects are tolerated. We use a cross-section of a maximum of 167 countries to explore whether increased religious competition results in less governmental regulation of religion and less governmental favoritism of religion.

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Dr. Karen Horn has interviewed Israel M. Kirzner for the academic journal Perspektiven der Wirtschaftspolitik. An English-language version has now been published by the online magazine CapX. Here is Kirzner’s take on neoclassical economics: „For neoclassicals, the entrepreneurial element is a nuisance, a pest, something they would wish to eliminate because it makes it difficult or in fact impossible for them to derive clear results.“

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The Editors of the new Schmollers Jahrbuch Journal of Contextual Economics, Nils Goldschmidt (University of Siegen), Erik Grimmer-Solem (Wesleyan University), and Joachim Zweynert (Witten/Herdecke University) are glad to announce that the first issue has now appeared. It contains contributions by John B. Davis, Geoffrey M. Hodgson, Richard Sturn, Stephen T. Ziliak & Samuel Barbour, and Philip Mirowski.

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How to unpack the relationship between ideas and institutions to explain the nature and causes of economic growth? In this paper, we explore this relationship using a dual analysis of rules and interaction within rules, as discussed by Buchanan, Lachmann, and Hayek to understand how ideas and institutions interact to generate the ethical underpinnings for trade, innovation, and economic growth.