Democracy today receives the general assent of humanity, yet it also suffers from infirmities that make others doubt its very survival. Is democracy mainly the political expression of the principle of individual sovereignty? Or is it rather characterised by the leve...

William Nordhaus was a co-recipient of this year's Nobel Prize in economics for his pioneering work on the economics of climate change. On the day of the Nobel announcement, the United Nations' Intergovernmental Panel on Climate Change (UN IPCC) released a special r...

... if it is to be a contractarian recommendation, it must be addressed to the individuals whom it will affect. —Robert Sugden, The Community of Advantage In his new book,1 economist Robert Sugden challenges the philosophical underpinnings of conventional economic...

James Buchanan is not easy to categorize. Is he a libertarian? A classical liberal? A conservative? Or perhaps even a "liberal" in the modern American sense of "progressive" or "social democrat"? Is he an economist or a philosopher? It is paradoxical but not totally...