Peter Boettke, Rosolino Candela and Peter Jacobsen: Economic Calculation and Transaction Costs: The Case of the Airline Oversales Auction System

According to Nobel Laureate Edmund Phelps (2013, p. 123), Mises’s critique of economic calculation under socialism renders him the originator of the economic analysis of property rights. In their new paper, NOUS member Peter Boettke, Rosolino Candela, and Peter Jacobsen paper also suggest that implicit to Mises’s impossibility theorem was Read more…

Benjamin Broman & Georg Vanberg: Feuding, arbitration, and the emergence of an independent judiciary

Anthropologists, historians, and political economists suggest that private violence—feuding—provides order and enforces agreements in the absence of a state. In their new paper, Benjamin Broman and NOUS member Georg Vanberg ground these accounts in a series of formal models that shows the relationship between feuding, informal arbitration, and formal judicial Read more…

Aris Tranitidis: Building an authoritarian regime: Strategies for autocratisation and resistance in Belarus and Slovakia

The article explores the conditions under which incumbent leaders in initially competitive political systems manage to offset democratic resistance and establish an authoritarian regime. Autocratisation – the transition from a competitive political system to a regime dominated by a single political force – is a challenging effort for an incumbent Read more…

Andreas Bergh & Anders Kärnä: Globalization and populism in Europe

Recent micro-level studies have suggested that globalization—in particular, economic globalization and trade with China—breeds political polarization and populism. This study examines whether or not those results generalize by examining the country-level association between vote shares for European populist parties and economic globalization. Using data on vote shares for 267 right-wing Read more…