Working papers (* under review; ** revisions requested)
‘Property Rights in an Entangled Political Economy’ *
This paper outlines key applications of property rights theory from the standpoint of ‘entangled political economy,’ which conceptualises economic and political agents interacting within society. The entangled political economy framework stresses that property rights denote relationships between societal members, and that property rights are the subject of evolutionary change. The nature and role of property rights in an entangled political economy reinforces the ‘bundle of rights’ perspective, challenging notions of property rights that emphasise the primacy of ownership. Far from necessarily imperiling the integrity of a market‑based economic order, the bundle orientation inherent in entangled political economy can accommodate extensive market activities grounded in robust property right protections.
Works in progress
‘Negative Liberties Facilitate Capability Expansion’
Despite expressing an appreciation for the role of markets in promoting development, leading proponents of the human capabilities theoretic approach tend to underplay, if not dismiss altogether, the significance of negative liberty in ensuring individuals achieve valuable ways of doing or being. This paper challenges such positions to make the claim that realising an expanding set of human capabilities does rely upon an extensive domain of non‑interference in economic affairs. A concept of entrepreneurship is outlined which emphasises the pivotal contribution of entrepreneurs in expanding capabilities, contrasting conventional notions of entrepreneurial activities focussed upon innovation, managing risks, or identifying profitable opportunities. Entrepreneurship as capability facilitation is surprisingly located throughout numerous branches of society, in both developed and developing countries, though the discovery and implementation of expanded capabilities depends critically upon the minimisation of coercive political power. This proposition is tested and confirmed by an empirical investigation of the linkages between economic freedom and the promotion of capabilities in the long run.
‘An Australian Economic Freedom Index using Regulatory Restrictiveness Measures’
‘Public Sector Size and Economic Performance in Australia: An Empirical Assessment’
‘Entangled Comparative Historical Political Economy’
‘J. M. Buchanan and the Network Structure of Ideas’
‘Hayek’s Epilogue: Origin, Development, and Reception’
Inequality: A Liberal Perspective