25.7.12

THE EMERGENT AND THE ORGANIZED.

In anticipation of the upcoming academic year, here is a Newmark's Door summary of contested territory  between state action and individual action in creating the conditions for individual prosperity.  Richard Posner's 1980 paper on the emergence of law in primitive society (academic readers, log on through your university account) might offer deeper background.  In economics, there's relatively little work on the emergence of government as a provider of goods and services.  We have endowments, and we have exchange economies, and we have production economies.  Presumably, in a two trader, two good world, trust is sufficient?

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