Journal of Private Enterprise

Articles from Vol. 23, No. 1, Fall

A Taste of Protectionism: Coca-Cola in the Classroom
Trade restrictions typically cost students very little as a percent of their expenditures, so it is all too easy for them to conclude that economists' ideas about international trade are abstract and apply little to their daily lives. Conducting a Coca-Cola...
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Attitudes toward Free Markets and Interest in Pro-Market Organizations: Evidence from Students in Free Enterprise
It is not surprising that students who study free markets tend to have a positive attitude about free markets. For example, Breeden and Lephardt (2002) find diat the higher the level of economics course the surveyed student is enrolled in, die more pro-market...
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Can You Hear Me in the Back? Improving Large Section Instruction Using Walkie-Talkies
In the fall of 1995, one of us introduced a new technology that fundamentally changed the nature of large lecture classes: walkie-talkies.1 This brief educational note describes the inspiration behind the walkie-talkie system, how it works, and the costs...
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Editor's Note: The Lasting Achievement of Gerald Gunderson
In most successful entrepreneurial ventures, different people come into and out of the picture at different stages of the enterprise. The founder is often not the person who takes a firm public, and the person who takes a firm public is often not the...
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Hayek on Labor Unions: Coercion and the Rule of Law
It is probably... impossible in our time for a student to be a true friend of labour and to have the reputation of being one (Hayek [1959] 1967, p. 294).IntroductionAs this epigraph implies, unions have a much better reputation than they deserve. Even...
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Is Contracting out Government Services the Great Panacea? Evidence from Public School Transportation in Louisiana
Many advocates of markets point to the inefficiencies of government bureaucracy and offer privatization plans as their solution (Cato Institute, 2003, 327-335). But in many cases their privatization plans are not pure privatization in which government...
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Knowledge, Discovery, Incentives and Institutions: Teaching Public Policy Analysis with Austrian and Public Choice Insights
When our students are faced outside of class with yet another proposal for government intervention in the economy, how do they assess that intervention? What they learn from us about the virtues of markets may make them suspicious of a proposed intervention,...
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Limited Government and Economic Growth in Botswana
The "African growth tragedy" best describes the economic experience of sub-Saharan Africa since the 1970s (Easterly and Levine 1997). In many countries, the overall level of income per capita has not increased beyond the levels of income at independence....
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Salmon Recovery in Idaho: What Is a Big Fish Worth?
Within the western United States, Idaho is the only landlocked state with a chinook salmon run. Every summer chinook salmon, called "kings" in Alaska, complete a 900-mile journey up the Columbia, Snake, and Salmon River systems to spawn in the crystal-clear...
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Short Run Macroeconomic Performance and Economic Freedom: Can Economic Growth Rates Be Higher and More Stable?
AbstractEconomists have examined the effects of economic freedom on economic outcomes such as growth, income inequality, and quality of life. Yet, economists have not examined one of the chief criticisms of market capitalism: unstable growth. In this...
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The Concept of Equality in Nobel Laureate A. K. Sen's Work: A Critical Assessment
AbstractThis article analyzes the theoretical foundations of Nobel Laureate A.K. Sen's concept of equality as reflected in his work in many areas of economics and social thought. The fundamental approach of "functionings" and "capabilities" that has...
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The Hanseatic League and Freedom of Trade
The Hanseatic League was an unusual entity. It was embedded in the Holy Roman Empire of the German Nation (founded in 800 AD and ended in 1806 AD). But, there were many kings, princes, dukes, barons, bishops, abbots, and free cities under the cloak of...
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The Market Failure for Student Loans
AbstractScholars have argued that the unique nature of an investment in education results in a market failure for student loans. This market failure is said to exist despite the empirically established, attractive risk-return profile of educational investments....
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