Liberty Review

Liberty Review summaries are selected by Liberty Fund Fellows on the basis both of their own research interests and of their relevance for Liberty Fund’s mission: to contribute to the preservation and development of individual liberty through research and educational activities.

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Recent Posts

Here are the 10 latest posts from Liberty Review.

Liberty Review January 8, 2018

Individualism, Collectivism, and Trade

Experimental EconomicsAIDIN HAJIKHAMENEH, ERIK O. KIMBROUGH EXPERIMENTAL ECONOMICS Abstract: While economists recognize the important role of formal institutions in the promotion of trade, there is increasing agreement that institutions are typically endogenous to culture, making it difficult to disentangle their separate contributions. Lab experiments that assign institutions exogenously and measure and control individual cultural characteristics can allow […]

Liberty Review January 2, 2018

Trust, Trade and Moral Progress: How Market Exchange Promotes Trustworthiness

JONATHAN ANOMALY SOCIAL PHILOSOPHY AND POLICY, Volume 34, Issue 2 Abstract: Trust is important for a variety of social relationships. Trust facilitates trade, which increases prosperity and induces us to interact with people of different backgrounds on terms that benefit all parties. Trade promotes trustworthiness, which enables us to form meaningful as well as mutually beneficial […]

Liberty Review December 11, 2017

Socialized View of Man vs. Rational Choice Theory: What Does Smith’s Sympathy Have to Say?

JOURNAL OF ECONOMIC BEHAVIOR & ORGANIZATION ELIAS L. KHALIL Abstract: To explain the anomaly of cooperation in finitely repeated games, some economists advance a socialized view of man as an antidote to rational choice theory. This paper confronts these economists insofar as they trace the socialized view to Smith’s theory of sympathy in The Theory of Moral […]

Liberty Review December 4, 2017

Ludwig Lachmann’s peculiar status within Austrian economics

VIRGIL HENRY STORR THE REVIEW OF AUSTRIAN ECONOMICS Abstract: Lachmann occupies a strange position within modern Austrian economics. He is viewed as something of an outsider and his views are often regarded as outside the mainline of modern Austrian thought. But, on several key issues – especially subjectivism and institutions – Lachmann’s positions are the dominant […]

Liberty Review November 9, 2017

‘A Burthen Too Heavy For Humane Sufferance’: Locke on Reputation

STUART-BUTTLE, T. HISTORY OF POLITICAL THOUGHT, Volume 38, Number 4 Abstract: Locke emphasized that a concern for reputation powerfully shaped the individual’s conduct. Most scholarship suggests that Locke portrayed this phenomenon in negative terms. This article complicates this picture. A concern for reputation served a constructive role in Locke’s theory of social development, which offered a […]

Liberty Review November 5, 2017

Marsilius of Padua on Representation

MULIERI, A. HISTORY OF POLITICAL THOUGHT, Volume 38, Number 4 Abstract: The concept of representation plays an important role in Marsilius of Padua’s major work, the Defensor Pacis. Yet, with a few notable exceptions,Marsilius’ concept of representation has received relatively little attention among recent scholars. The main purpose of this article is to fill this gap […]

Liberty Review November 2, 2017

Democracy before, in, and after Schumpeter

PHILIP PETTIT CRITICAL REVIEW Abstract: The classical model of democracy that Schumpeter criticizes is manufactured out of a variety of earlier ideas, not those of any one thinker or even one school of thought. His critique of the central ideals by which he defines the model—those of the common will and the common good—remains persuasive. People’s […]

Liberty Review October 29, 2017

The Golden Thread of Religious Liberty: Comparing the Thought of John Locke and James Madison

KEVIN VANCE OXFORD JOURNAL OF LAW AND RELIGION, Volume 6, Issue 2 Abstract: The views of the American founders on religious liberty provide fertile ground for a range of different interpretations of the extent of legal protections for religious liberty and how religious liberty is justified. Although John Locke’s arguments for religious liberty were influential on […]

Liberty Review October 26, 2017

Edmund Burke on the Question of Commercial Intercourse in the Eighteenth Century

GREGORY M. COLLINS THE REVIEW OF POLITICS, Volume 79, Issue 4 Abstract: Scholars have noticed that Edmund Burke’s impassioned economic tract in favor of market liberty, Thoughts and Details on Scarcity, appears to be at odds with his political philosophy and rhetorical temperament of prudence and restraint. This essay challenges this interpretation. I contend that Burke’s emotional […]

Liberty Review October 23, 2017

How do federal regulations affect consumer prices? An analysis of the regressive effects of regulation

DUSTIN CHAMBERS, COURTNEY A. COLLINS, ALAN KRAUSE PUBLIC CHOICE Abstract: This study is the first to measure the impact of federal regulations on consumer prices. By combining consumer expenditure and pricing data from the Bureau of Labor Statistics, industry supply-chain data from the Bureau of Economic Analysis, and industry-specific regulation information from the Mercatus Center’s RegData […]