Home' Policy Magazine : Policy Vol 33 - No 1 Contents 41
POLICY • Vol. 33 No. 1 • Autumn 2017
1 Global production of goods and services is aggregated at
purchasing power parity prices—i.e. taking into account
differences in the purchasing power of money in different
countries—and then divided by the number of people
on earth. See Angus Maddison, The World Economy: A
Millennial Perspective (Paris: OECD, 2001) and successor
2 See for example, Joel Mokyr, A Culture of Growth: The
Origins of the Modern Economy (Princeton, N.J.: Princeton
University Press, 2017) and William J. Bernstein, The Birth
of Plenty: How the Prosperity of the Modern World was Created
(New York: McGraw Hill, 2010).
3 Information and transaction costs always ensure that
the real world is reflected more closely by Austrian
economics than naïve mainstream economics. See Joseph
A. Schumpeter, Capitalism, Socialism and Democracy (New
York: Harper, 1947); Joseph A. Schumpeter, The Theory of
Economic Development, 2nd ed. (Oxford-New York: Oxford
University Press, 1961); Wolfgang Kasper, Manfred E.
Streit and Peter Boettke, Institutional Economics: Property,
Competition, Policies (Cheltenham, UK: Edward Elgar,
4 Wolfgang Kasper, ‘The Real Beneficiaries of the Welfare
State’, Quadrant (June 2012), 42-48.
5 Thomas Sowell, The Vision of the Anointed (New York:
Basic Books, 1995) and Thomas Sowell, Intellectuals and
Society (New York: Basic Books, 2009). In Australia’s case,
the emergence of such an elite has been documented by
journalist-philosopher Nick Cater in The Lucky Culture and
the Rise of Australia’s Ruling Class (Sydney: Harper Collins,
6 Mokyr, A Culture of Growth, chapter III.
7 US Council of Economic Advisors, ‘Import Tariffs an
“Arbitrary and Regressive Tax”’ (20 January 2017), http://
8 Mancur Olson, The Logic of Collective Action: Public
Goods and the Theory of Groups (Cambridge, MA: Harvard
University Press, 1965); Mancur Olson, The Rise and
Decline of Nations: Economic Growth, Stagflation and Social
Rigidities (New Haven, CT: Yale University Press, 1982).
9 Mancur Olson, Australia in the Perspective of the Rise
and Decline of Nations (Canberra: Australian National
University, Centre for Economic Policy Research, 1984).
10 Gerald P. O’Driscoll et al, 2001 Index of Economic Freedom
(Washington-New York: Heritage Foundation-The Wall
Street Journal, 2001); Wolfgang Kasper, Breaking the Trade
Stalemate: What are Australia’s Options?, Issue Analysis No.
18 (Sydney: Centre for Independent Studies, 2001).
11 Ian Vásquez and Tanja Porčnik, The Human Freedom
Index 2016: A Global Measurement of Personal, Civil and
Economic Freedom (Washington DC, Vancouver BC, Berlin,
Germany: Cato Institute, Fraser Institute and Friedrich
Naumann Foundation for Freedom, 2016), https://www.
12 Samuel Huntington, ‘Democracy’s Third Wave’, Journal of
Democracy 2:2 (Spring 1991), 12-24.
13 Kasper et al, Institutional Economics.
14 Wolfgang Kasper, review of Rework America, America’s
Moment: Creating Opportunity in the Connected Age, Policy
3:3 (Spring 2015), 44-46.
15 Rework America, America’s Moment: Creating Opportunity
in the Connected Age (New York: W.W. Norton, 2015).
16 The Economist, ‘The Retreat of the Global Company’ (28
January 2017), 14-18.
17 Thomas Sowell, Wealth, Poverty and Politics: Revised and
Enlarged Edition (New York: Basic Books, 2016).
18 De Cive (1642) was first written in Latin. An English
translation was published in 1651 (Philosophicall [sic]
Rudiments Concerning Government and Society) and later
made more widely available by Sir William Molesworth,
editor of The English Works of Thomas Hobbes of Malmesbury,
vol. 2 (London: Bohn, 1839-44).
19 Dieter Thomä, Puer Robustus: Eine Philosophie des
Störenfrieds (Berlin: Suhrkamp, 2016), written in German
and as yet untranslated.
20 Susan Meld Sheld, ‘Stalking Puer Robustus: Hobbes and
Rousseau on the Origin of Human Malice’, in Eve Grace
and Christoper Kelly (eds), The Challenge of Rousseau
(Cambridge, UK: Cambridge University Press, 2013),
21 Wolfgang Stolper and Paul A. Samuelson, ‘Protection and
Real Wages’, Review of Economic Studies 9:1 (November
1941), 58-73. For a short, easily accessible account of
the theorem see J. Peter Neary, ‘The Stolper-Samuelson
Theorem’, in John J. McCusker et al, Encyclopedia of World
Trade Since 1450 (New York: Macmillan Reference, 2004).
22 Richard A. Epstein, Simple Rules for a Complex World
(Cambridge, MA: Harvard University Press, 1995).
23 Bruno Leoni, Freedom and the Law (Princeton NJ: Van
Norstrand, 1961); Friedrich A. Hayek, Rules and Order,
volume 1 of Law, Legislation and Liberty (Chicago: Chicago
University Press, 1973), 30.
24 Le théâtre du grand guignol—literally ‘the theatre of big
puppets’—opened in Paris in 1897. It took its name
from the French puppet character, Guignol, who was
originally an outspoken social commentator. The theatre
became known for its naturalistic horror shows, with
success measured by how many people fainted during
performances. It closed in 1962.
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