Profiles

The problem of identifying rent-seeking activity under real world conditions is shown in this article to be similar to that of determining monopoly waste and other market inefficiencies.

The entrepreneur is a key figure in the market economy. In a dynamic economy, ideas, products, and services are constantly changing. Entrepreneurship, broadly defined, refers to actions of individuals as they strive to cope with constantly changing market conditions.1 When viewed in this way, all...

The Review of Austrian Economics , Volume 4, (1990)

The recent widely cited National Agricultural Lands Study (NALS) adds to the growing number of individuals and organizations holding the view that land resources are too important to be left to the "whims of market forces." In this view, there should be a shift from private ownership of land to...

The "free rider problem," arising from the fact that an individual may be able to obtain the benefits of a good without contributing to the cost, is discussed in a number of different contexts. In the case of a "public good" where the provider cannot exclude, a good which others provide for them-...