Journal of Private Enterprise

Articles from Vol. 26, No. 2, Spring

Economic Growth, Ten Forms of Economic Freedom, and Political Stability: An Empirical Study Using Panel Data, 2003-2007
AbstractThis study investigates the impact of the ten forms of economic freedom developed by the Heritage Foundation (2008), as well as a measure of political stability developed by the World Bank (2009), on economic growth in OECD nations. Both panel...
Economics for Yesterday, Today, and Tomorrow
AbstractThis paper seeks to explore what is enduring and what is fleeting in the basic teachings of economics. The core claim of the paper is that what is enduring in economics is most often politically unpopular, and what is fleeting in economics is...
Inclusion of Atlas Shrugged in Economics Classes
AbstractIn her novel Atlas Shrugged, Ayn Rand makes a strong argument for an economy based on free enterprise without government interference. The book, published 52 years ago, remains a "bestseller." This paper relates how Atlas Shrugged has been successfully...
I Think I Can! Does the Little Engine That Could Matter?
AbstractEarly work by psychologist David McClelland regarding the childhood formation of the need to achieve in a country and later economic growth sought to solve one of the major economic development puzzles. One of McClelland's findings showed a relationship...
On Rothbard on the Shifting and Incidence of a General Sales Tax: A Critique
AbstractRothbard takes the position that a general sales tax cannot be shifted forward onto consumers. In his view, costs of production, of which a tax is an instance, cannot determine price. Rather, the causation is in the other direction: The prices...
The Current Status of Free Enterprise Chairs and Professorships in Academe
AbstractThis paper discusses the findings from a survey of participants in professional academic conferences supporting classical liberal ideals. We present data on those holding either a chair or professorship in free enterprise or entrepreneurship....
The Decline in Work Time and the Increase in Free Time of Manufacturing Employees from 1890 to World War I
AbstractThis paper adds to the long debate over the capacity of unorganized employees to obtain and protect their interests by contracting in free labor markets. It does so by calculating perhaps the first estimate of the income elasticity of demand...
The Hidden Costs of America's War on Drugs
AbstractAmerica's war on drugs has been costly in many ways but has yielded few results. This paper first examines the history of anti-drug legislation. It then looks at the hidden costs of the criminalization of drug use to physicians, police, communities,...
The Roman Libertarians: An Ancient Philosophy of Freedom
AbstractAlmost every idea has an ancient ancestry, and Smith's "invisible hand" is traceable to Roman Stoicism. In his Theory of Moral Sentiments Smith refers constantly to Stoic philosophy, which taught that there is a law more fundamental than any...
Using Drew Carey in the Classroom
AbstractThis teaching note describes how to use Drew Carey's short public policy documentaries in the classroom, and as part of a writing assignment for an introductory microeconomics class. Students are challenged to identify the core microeconomic...