October 2004

Arthur’s Seat

Lynne Kiesling Please join me in welcoming my dear old (and yes, it’s depressing to say that!) friend Adam to the Internet at Arthur’s Seat. Arthur’s Seat is one of the most dramatic geologic features of Edinburgh, and thus forms the theme for Adam’s commentary from Scotland, on Scotland and beyond. He writes beautifully, and …

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Proper-coaseans And Property-coaseans

Michael Giberson On the PFF blog, Tom Lenard comments on Larry Lessig?s article, ?Coase?s First Question,? [PDF] in the current issue of Regulation. Lenard summarizes Lessig’s distinction between “Proper-Coaseans” and “Property-Coaseans” in this way: Lessig argues that ?proper-Coaseans? first ask the question of whether the resource in question should be the subject of property at …

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Evidence For Economics

Michael Giberson Does economics matter? For an assessment that says a once esoteric economic modeling technique — rational expectations — led to better policy practice, see David Warsh?s Economic Principals column, ?A Day in the Life of Ed Prescott.?