James Buchanan, Professor of Economics at George Mason University, and 1986 Nobel laureate, discusses political and constitutional rules within which politicians operate. He analyzes incentives faced...

Consumer legislation doesn’t in the end protect the consumer; rather, it benefits the consumer advocates, including reformers, special interest groups, and regulatory agencies. What does protect the...

The welfare state is an attempt to “do good” with someone else’s money. The aim may be worthy but the means are faulty. The problem is that you do not spend someone else’s money as carefully...