Dan B. Klein: Conservative liberalism: Hume, Smith, and Burke as policy liberals and polity conservatives

On regular issues of policy reform—presupposing a stable integrated polity— Hume, Smith, and Burke were liberal in the original political meaning of “liberal.” Thus, on policy reform, although they accorded the status quo a certain presumption (as any reasonable person must), the more distinctive feature is that they maintained (even propounded, Read more…

Michael Munger & Georg Vanbger: Contractarianism, constitutionalism, and the status quo

The constitutional political economy (CPE) approach as developed by James Buchanan places emphasis on supermajority rules—in particular, a unanimity requirement for constitutional change. Critics argue that this approach “privileges the status quo” in two problematic ways: (1) alternatives are treated unequally because the status quo requires a smaller coalition to Read more…

Olga Nicoara: The Comparative Liberty-Dignity Context of Innovative Immigrant Entrepreneurship

In her latest work, NOUS member Olga Nicaora chapter the concept of “entrepreneurial alertness” (Kirzner in Competition and Entrepreneurship)  with the bourgeois liberty and dignity perspective on modern growth (McCloskey in Bourgeois Dignity: Why Economics Can’t Explain the Modern World) to propose a comparative liberty-dignity framework for the allocation of creative (or Read more…