Today in the land of Magna Carta

“Liberty is the right to do everything the laws permit.” Montesquieu “[U]nder the Rule of Law the government is prevented from stultifying individual efforts by ad hoc action. Within the…

Lotteries vs. Tournaments

Some people call the academic job market a “lottery”.  For a random Ph.D. student in most fields, the chances of ever getting a TT job are low. The winners win…

Bad Ideas about Trade

In one of its good initiatives, the Obama administration is trying to finalize the Trans Pacific Partnership – a multilateral trade treaty with some of the most successful and fast-growing nations West…