In 1960, Ronald Coase published what would become one of the most cited articles in economics and contribute to his receipt of a Nobel Prize. Coase's point was both simple and revolutionary. First, he noted, externalities—costs from economic activity borne by peop...

The Liberty Classic title Economics Works is a double entendre. One meaning refers to many of the more important articles by Armen Alchian, such as those contained in Economic Forces at Work: Selected Works by Armen A. Alchian.1 The other meaning is that economics ...

I have a complaint about America today, and it is simple: we don't love business enough. —Tyler Cowen, Big Business: A Love Letter to an American Anti-Hero,1 page 6 Tyler Cowen's book, Big Business, is subtitled A Love Letter to an American Anti-Hero, ...

Once we understand that community matters, then it becomes clear why it is not enough for a country to experience strong economic growth... How that growth is distributed across communities in the country matters immensely. What then is the source of today'...