Political Economy, Concisely
A collection of Jasay’s articles written for Liberty Fund’s website, the Library of Economics and Liberty (Econlib), between 2003 and 2007. They have been organized into the following categories: Property Rights, the common sense of non-economics, France and Russia, capitalism, unemployment, the future of Europe, and economics true and false.
Political Economy, Concisely: Essays on Policy that does not work and Markets that do. Edited and with an Introduction by Hartmut Kliemt (Indianapolis: Liberty Fund, 2009).
Copyright:
The copyright to this edition, in both print and electronic forms, is held by Liberty Fund, Inc.
Formats:
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|---|---|---|
| HTML | This version has been converted from the original text. Every effort has been taken to translate the unique features of the printed book into the HTML medium. | 790 KB |
Table of Contents
- CONTENTS
- INTRODUCTION
- PART 1: Rights, Property, and Markets
- PROPERTY OR “PROPERTY RIGHTS”?*
- “A BUNDLE OF RIGHTS”?
- FREEDOMS AND RIGHTS DIFFER FUNDAMENTALLY
- PROPERTY RIGHTS, TRUE AND FALSE
- THE PRESUMPTION OF GOOD TITLE
- “DESIGN FAULTS” IN LOCKE’S THEORY OF PROPERTY TAINT OWNERSHIP WITH GUILT*
- IS OWNERSHIP A MYTH?*
- HOW TO GET A FREE LUNCH? JUST APPLY FOR IT*
- THE PROBLEM OF CONTRACT ENFORCEMENT*
- 1.: ONE-OFF CONTRACT EXECUTION
- 2.: REPEATED EXECUTIONS
- 3.: FREE-RIDING
- 4.: THE ENFORCEMENT AGENCY
- THE PUBLIC GOODS DILEMMA*
- 1.: EXCLUSION COST
- 2.: SOCIAL PREFERENCE FOR NONEXCLUSION
- 3.: FREE-RIDER OR SUCKER
- TRYING THE FREE MARKET*
- 1.: PRESUMED GUILTY
- 2.: UNACCEPTABLE
- THE STATIST LEGACY*
- YOUR DOG OWNS YOUR HOUSE*
- PART 2: The Common Sense of Non-Economics
- THE YAKOUBOVICH SYNDROME, OR LIES, DAMN LIES, AND ECONOMIC POLICY*
- PURCHASING POWER
- DEVELOPMENT AID
- WINNING POLICY BATTLES BUT LOSING THE WAR AGAINST ECONOMIC REALITIES*
- “THEY DO NOT TALK BACK”
- DISCREETLY, BACK TO BASICS
- PAYING OURSELVES MORE OF THEIR MONEY*
- MIXED-UP ROLES, MIXED-UP INCENTIVES
- SQUATTING THE JOBS
- THE DOCTRINE OF “UNEQUAL EXCHANGE” THE LAST REFUGE OF MODERN SOCIALISM?*
- CORPORATE MANAGERS ARE THEY GOING TO KILL CAPITALISM?*
- SHORT-TERMISM AND OTHER VICES AND FOLLIES
- THE WHIRLWIND OF SPECULATION
- THEY WON’T KILL CAPITALISM
- WHEN THE ECONOMY NEEDS MORALS*
- THE POLITICAL ECONOMY OF FORCE-FEEDING*
- HOSTILE TO WHOM?*
- “ECONOMIC PATRIOTISM” TO RESIST “MARKET DICTATORSHIP”
- PROTECTING THE PRINCIPAL-AGENT DILEMMA
- THE MARKET FOR CORPORATE CONTROL
- MANNESMANN’S COURTESY COULD PROVE RARE*
- HOSTILE TO WHOM?
- QUEENSBERRY RULES
- PART 3: French and Russian Tragicomedies
- CAN PUTIN BUILD A REAL ECONOMY FROM OIL AND RIGOR?*
- RUSSIA AND THE NEW EUROPE GROWING APART*
- RUSSIA HOPPING ALONG ON CLAY FEET*
- AMBITION AND SQUALOR
- CLAY FEET SHOWING
- THE FRENCH TRAGICOMEDY*
- HOW THE FRENCH “SOCIAL MODEL” COULD SELF-DESTRUCT*
- THE REVOLT OF THE IDLE
- THE CURSE OF FUTILE EDUCATION
- DO THE RIOTS PREDICT DECLINE OR BREAKDOWN?
- A LITTLE BIT OF HISTORY REPEATING*
- FIRST JOBS
- FRENCH FURY
- THERE IS NO FRENCH EXCEPTION*
- FORTUITOUS TRENDS
- ADDING INSULT TO INJURY
- THE HOBBLING OF PRIVATE FRANCE*
- COLLECTIVIST SUBMISSIVENESS
- FOISTING FREE TRADE
- PART 4: The Capitalism They Hate
- THE CAPITALISM THEY HATE*
- THE INEQUALITY MACHINE
- INDECENT EARNINGS
- STRIVING TO GET RICHER AND POORER*
- DEMOCRATIC EDUCATION
- WRECKING THE RESOURCE ALLOCATION
- “BREAD AND CIRCUSES” IN THE MODERN WELFARE STATE*
- UNEMPLOYMENT: WHOSE FAULT?
- WORK, LEISURE, BOREDOM
- THE WORM THAT TURNED
- WHO MINDS THE GAP?*
- 1.: MIND THE GAP!
- 2.: THE FAVORITE MODEL
- 3.: WHEN RATS START FIGHTING ONE ANOTHER
- FLOAT OR SINK? THE MILLSTONE OF THE “SOCIAL MARKET” IN GERMANY*
- HOW GERMANY AND FRANCE, THE SICK MEN OF EUROPE, TORTURE THEMSELVES*
- SHALL WE BORROW FROM THE CHILDREN?*
- LOW PAY*
- FREER TRADE
- ADVANCING TECHNOLOGY
- JOB PROTECTION
- FREEDOM TO STRIKE OR RIGHT TO STRIKE?*
- PART 5: Creating Unemployment
- STAMP YOUR FEET AND DEMAND A FAIR DEAL*
- PATERNALISM AND EMPLOYMENT*
- THE THINGS LABOR UNIONS ARE UP TO*
- THE INSTABILITY OF THE WELFARE STATE*
- GOVERNMENT—THE PASSIVE BALLAST
- “MERIT GOODS”
- A MACHINE TO GRIND JOBS
- SOME BAD NEWS COULD BE GOOD NEWS*
- BUILT-IN UNEMPLOYMENT SOCIAL PROTECTION COSTS MORE THAN IT IS WORTH*
- LET ’S THROW THIS MODEL AWAY*
- “OWNING” ONE’S JOB
- WHO PAYS THE INSURANCE?
- HOW TO STIFLE EMPLOYMENT BY “SOCIAL PROTECTION”*
- “OUTRIGHT COMPULSION”
- VICIOUS CIRCLE
- WORKABLE ALTERNATIVES*
- OCCASIONS OF BLACKMAIL
- FRENCH HOSTAGES
- A TALE OF TWO MODELS*
- CAUSES OF UNEMPLOYMENT
- THE ULTIMATE OWNERS
- A VICIOUS CIRCLE OF SOCIAL KINDNESS*
- PART 6: The Future of Europe
- THE ECONOMIC CONSEQUENCES OF A UNITED STATES OF EUROPE*
- A GIANT FREE-TRADE AREA OR A POLITICAL COUNTERWEIGHT TO AMERICA?*
- EUROPEAN CROSSCURRENTS AND THE FEDERALIST DRIFT*
- HOW CONFEDERACY COULD TURN INTO A FEDERAL SUPERSTATE*
- MAJORITY RULE BY ANY OTHER NAME*
- WHAT NOW FOR “EUROPE”? WHY THE PEOPLE FAILED THEIR MASTERS*
- THE ECONOMY GOES ON MUDDLING THROUGH
- “LITTLE MAN, WHAT NOW?”
- FREE-RIDING ON THE EURO*
- SOME DEMOCRATIC ECONOMICS*
- THE SOVIET LEGACY*
- A WAR OF ATTRITION BETWEEN ECONOMIC REALITY AND POLITICAL DREAMS*
- THE YUKOS AFFAIR
- THE BOLKESTEIN DIRECTIVE
- THE LISBON REFORM PROGRAM
- A BRIGHTENING OF THE ECONOMIC SKIES OVER BRUSSELS?*
- TURKEY KNOCKING ON EUROPE’S DOOR*
- TURKEY AND THE EU CLUB*
- DOES TURKEY NEED TO BELONG?
- DOES THE EU NEED TURKEY?
- EUROPE MORE SECULAR AND MORE ISLAMIST*
- A BILL OF RIGHTS EUROPE DID NOT NEED*
- EUROPE’S SOCIAL-DEMOCRATIC “GOVERNMENT”*
- BETWEEN EXTREMES
- MEAGER TANGIBLE BENEFITS
- POWER CORRUPTS, SO LET ’S MAKE IT LESS ABSOLUTE*
- SUDDEN BACKLASH
- ALL ARE IMMORAL
- PART 7: Economics, True and False
- WHAT PRICE PRIDE? ON THE HIDDEN COSTS OF ECONOMIC ILLITERACY*
- ON THE ECONOMICS OF PROTECTING EMPLOYMENT*
- THE COSTLY MISTAKE OF IGNORING OPPORTUNITY COSTS*
- “GLOBALIZATION” AND ITS CRITICS MUTUAL GAIN VS. CLOUD-CUCKOO LAND*
- ARE HIGH OIL PRICES A FORM OF EXPLOITATION?*
- WASTING RESOURCES ON RENEWABLE ENERGY
- WILL OIL GO TO 100 DOLLARS A BARREL?
- BUT OUGHT EXPLOITATION NOT TO BE STOPPED?
- IMMIGRATION WHAT IS THE LIBERAL STAND?*
- WHAT HAS CHANGED
- NO-MAN’S-LAND OR FAMILY HOME?
- MORE NONSENSE ON STILTS MR. BENTHAM IS AT IT AGAIN*
- RISK, VALUE, AND EXTERNALITY*
- 1.: CHARITY AND OBLIGATION
- 2.: THE MISDEEDS OF LUCK
- 3.: SHELTERING FROM RISK
- 4.: ORTHODOX MARXISM
- 5.: NEOSOCIALISM: FRAMEWORKS, NETWORKS, TISSUES
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