How can we live together in peace, prosperity, and harmony, while retaining our liberties as autonomous individuals who can, and must, create our own values? -- J.M. Buchanan
A great two-part lecture on basic concepts in social economic organization, reminiscent of Knight's The Economic Organization, but incorporating concepts of complexity, institutions, and spontaneous order. "Complex orders arise from simple rules."
Labels: complexity, economics, impartiality, institutions, simple rules, subsidiarity
posted by Ross B. Emmett @ 2/07/2008 09:01:00 AM
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Professor and Co-Director of The Michigan Center for Innovation & Economic Prosperity. An historian of both classical and Chicago economics, I also have research interests in constitutional political economy and comparative institutional analysis related to innovation and economic development. I hold an International MBA from the University of South Carolina and a Ph.D. in economics from the University of Manitoba. Before coming to MSU, I held university positions in western Canada for 15 years. I am the editor of The Biographical Dictionary of American Economists, Selected Essays of Frank H. Knight, The Chicago Tradition in Economics, and Great Bubbles, and am an editor of Research in the History of Economic Thought and Methodology. At James Madison I teach Politics & Markets, the core course in the Political Economy specialization, and a senior seminar on Constitutional Political Economy.
