There are numerous well-known definitions of economics, but the one that best captures what economics is about is James Buchanan's definition, namely: "Economics is the science of markets or exchange...
Roger A. Arnold
Latest work
Casual observation of the last thirty years or so indicates that the role government plays in the lives of individuals has been increasing. Within the internal structure of government itself there are...
Ever since economists undertook an economic analysis of the law there has waged the debate as to the proper criterion to use in deciding law cases. So far two criteria have occupied center stage...
