Mises Daily
Author:
Joseph T. Salerno
Online Publish Date:
In general, the question of “Cui bono?” — or “Who benefits?” — from changes in policies and institutions receives very little attention in the cliometric income that results from a given change in the institutional framework or in the policy regime. What their method precludes them from doing is identifying the ex ante gain. We can more fully appreciate the significance of Rothbard’s methodological innovation by briefly contrasting his explanation of the origins of the Federal