Wealth of Nations

An American Theory of Public Choice

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“Public choice,” of course, is just a highfalutin circumlocution for “politics.” But the name is usually applied to the leading neoclassical version articulated by James Buchanan and Gordon Tullock in The Calculus of Consent.

This theory has a number of

Alexander Hamilton and the Politics of Impatience (From Balancing Trade to a Balanced History): Part III

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Wealth of NationsAdam Smith’s Wealth of Nations was published the same year as the Declaration of Independence,  and Hamilton was right to perceive a growing appreciation of its basic message among his countrymen. Smith wrote to dispel the errors of mercantilism. Hamilton