Scott Alex Beaulier

Of Norms, Rules, and Markets: A Comment on Samuels

les details relatifs a lordre spontane en attirant notre attention sur la reflexion sous-jacente qui se manifeste a travers tout ce processus evolutionnaire, ainsi que sur la nature de cet ordre spontane qui presente une dependance de sentier. Le fait que la magie de lordre spontane ait ete consideree comme un fait acquis a engendre une sorte de sous-investissement dans les recherches visant a approfondir la connaissance de ce qui anime les institutions emergentes de laction humaine mais non dun dessein humain. Reconnaissant cet etat de fait, Samuels a tente de se salir les mains en se penchant de plus pres sur le miracle de lordre spontane. Dans cet article, les auteurs font une analyse descriptive de la these de Samuels mais prennent aussi le temps de reconnaitre que son travail se presente comme une formation hybride de loeuvre contractualiste de Buchanan et de loeuvre de Hayek dans le domaine de levolution sociale.Warren Samuels continues trying to work out the details of the spontaneous order by drawing our attention to the underlying deliberation present throughout this entire evolutionary process, as well as the path dependent nature of the spontaneous order. The taking for granted of the magical features of the spontaneous order has caused an under-investment in research attempting to get inside to examine what really drives the institutions emerging from human action, but not of human design. Recognizing this, Samuels has attempted to get his hands dirty by looking much closer at the miracle of the spontaneous order. In this piece the authors offer a descriptive analysis of Samuels thesis, while also taking the time to recognize Samuels work in political economy as a hybridization of Buchanans contractarian work and Hayeks work in social evolution.

An ordinal ranking of economic institutions

ABSTRACT We provide the first ranking of countries’ economic institutions using an ordinal methodology. Using the five areas of the Fraser Institute’s Economic Freedom of the World (EFW) index, we find that final rankings of a country’s institutions are sensitive to the importance-ordering of Area 1 (Size of Government). When Areas 2–5 are in the most important position, we find that there is no significant difference between the EFW rankings and our rankings. When Area 1 is placed in the most important position, however, a number of European countries with large welfare states but good governance do poorly.

Technology and the Architecture of Emergent Orders

Spontaneous or emergent orders in human affairs are based upon voluntary interactions among individuals. Yet the physical environment influences the subsequent interactions which occur. While the interactions may be voluntary, the confines of a built environment – physical systems and infrastructure – shape the resulting emergent order. The existing infrastructure is the product of previous actions and not a choice variable for today’s actors. Within this setting we examine the development (or lack thereof) of technologies capable of radically reshaping the infrastructure. Individuals and organizations holding advantageous positions within the current infrastructure will have an incentive and often the political and economic resources to preserve the existing architecture. We examine several case studies of technologies with transformative potential and detail the degree to which they reshaped existing orders.

Using “Dominetrics” to Impose Greater Discipline on Performance Rankings

Importing the methodology of Cherchye and Vermeulen (2006), the authors discuss the many ways ‘‘dominetrics’’ can measure performance. They then apply the approach to National Collegiate Athletic Association (NCAA) Division I men’s basketball rankings. The ordinal approach they take removes some subjectivity from the Rating Percentage Index (RPI). Just as Pareto relationships are obtained without subjective cardinal weighting schemes, the dominance relationships applied here eliminate the subjectivity of cardinal weighting. Because heated debate inevitably ensues after the NCAA Selection Committee’s announcement of at-large invitees to the NCAA tournament, the subjectivity-minimizing dominetric provides a barometer for evaluating the relative qualities of college basketball teams.

The Traders’ Cross: Identifying Traders’ Surpluses in the Traditional Edgeworth Exchange Diagram

The Edgeworth exchange diagram is a traditional tool of undergraduate microeconomic theory that depicts the mutually beneficial gains from voluntary trade. The authors take the analysis one step further. They identify the buyers and sellers surpluses that accrue to both trading parties in the Edgeworth diagram. This is a straightforward exercise that has not, however, been developed in microeconomics textbooks, an exercise that can further hone students’ understanding of the concept of buyers and sellers surpluses and the notion of gains from voluntary exchange.