Liberty Review

Liberty Review summaries are selected by Liberty Fund Fellows on the basis both of their own research interests and of their relevance for Liberty Fund’s mission: to contribute to the preservation and development of individual liberty through research and educational activities.

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Recent Posts

Here are the 10 latest posts from Liberty Review.

Liberty Review October 15, 2017

Socialized View of Man vs. Rational Choice Theory: What Does Smith’s Sympathy Have to Say?

ELIAS L. KHALIL JOURNAL OF ECONOMIC BEHAVIOR & ORGANIZATION Abstract: To explain the anomaly of cooperation in finitely repeated games, some economists advance a socialized view of man as an antidote to rational choice theory. This paper confronts these economists insofar as they trace the socialized view to Smith’s theory of sympathy in The Theory of Moral […]

Liberty Review October 10, 2017

As an Economy Becomes More Developed, Do People Become Less Altruistic?

PAPAR KANANURAK & AEGGARCHAT SIRISANKANAN THE JOURNAL OF DEVELOPMENT STUDIES Abstract: Inter-household private transfers are one of the main informal insurance mechanisms that prevalently implemented in developing countries. Unfortunately, most of the literatures investigates the private transfer motives at static perspectives. Therefore, this paper took advantage to investigate the private transfers motives in Thailand over the […]

Liberty Review October 5, 2017

Geography, Transparency, and Institutions

JORAM MAYSHAR, OMER MOAV, and ZVIKA NEEMAN AMERICAN POLITICAL SCIENCE REVIEW, Volume 111, Issue 3 Abstract: We propose a theory in which geographic attributes explain cross-regional institutional differences in (1) the scale of the state, (2) the distribution of power within state hierarchy, and (3) property rights to land. In this theory, geography and technology affect […]

Liberty Review October 2, 2017

The rise and decline of nations: the dynamic properties of institutional reform

RUSSELL S. SOBEL JOURNAL OF INSTITUTIONAL ECONOMICS, Volume 13, Issue 3 Abstract: While it is now well established in the literature that countries with better policies and institutions, as measured by the Economic Freedom of the World index, have better outcomes in terms of prosperity, growth, and measures of human well-being. However, we know little about the process […]

Liberty Review September 30, 2017

State Intervention in Wine Markets in the Early 20th Century: Why was it so Different in France and Spain?

JORDI PLANAS REVISITA DE HISTORIA ECONOMICA – JOURNAL OF IBERIAN AND LATIN AMERICAN ECONOMIC HISTORY, Volume 35, Issue 2 Abstract: In the early 20th century, governments not only used trade policy to protect domestic agricultural markets, but they also introduced regulations affecting quality, quantity and prices. In this article I assess the differences in the state […]

Liberty Review September 27, 2017

Adam Smith’s Theory of Money and Banking

NICHOLAS A. CUROTT JOURNAL OF THE HISTORY OF ECONOMIC THOUGHT, Volume 39, Issue 3 Abstract: This paper addresses a long-running debate in the economics literature—the debate over Adam Smith’s theory of money and banking—and argues that recent reinterpretations of Smith’s monetary theory have erroneously diverted historians of monetary thought from the correct, but briefly articulated, initial […]

Liberty Review September 23, 2017

Individualistic values, institutional trust, and interventionist attitudes

HANS PITLIK and MARTIN RODE JOURNAL OF INSTITUTIONAL ECONOMICS, Volume 13, Issue 3 Abstract: A popular explanation for economic development is that ‘individualistic values’ provide a mind-set that is favorable to the creation of growth-promoting institutions. The present paper investigates the relationship between individualistic values and personal attitudes toward government intervention. We consider two key components […]

Liberty Review September 19, 2017

Economic Development, Mobility, and Political Discontent: An Experimental Test of Tocqueville’s Thesis in Pakistan

ANDREW HEALY, KATRINA KOSEC and CECILIA HYUNJUNG MO AMERICAN POLITICAL SCIENCE REVIEW, Volume 111, Issue 3 Abstract: We consider the thesis of Alexis de Tocqueville (1856) that economic development and increased mobility may generate political discontent not present in more stagnant economies. For many citizens, as they become aware of the potential for improved living standards, their aspirations may […]

Liberty Review September 14, 2017

Max Scheler and Adam Smith on Sympathy

ADRIANA ALFARO ALTAMIRANO THE REVIEW OF POLITICS, Volume 79, Issue 3 ABSTRACT: Recent efforts to theorize the role of emotions in political life have stressed the importance of sympathy, and have often recurred to Adam Smith to articulate their claims. In the early twentieth-century, Max Scheler disputed the salutary character of sympathy, dismissing it as an […]

Liberty Review August 19, 2017

Democracy and Unfreedom: Revisiting Tocqueville and Beaumont in America

SARA M. BENSON SAGE JOURNALS, Volume 45, Issue 4 Abstract: This essay reexamines the famous 1831 prison tours of Alexis de Tocqueville and Gustave de Beaumont. It reads the three texts that emerged from their collective research practice as a trilogy, one conventionally read in different disciplinary homes (Democracy in America in political science, On the Penitentiary in criminology, […]