Essays & News

  In December 2023, PISA published the latest edition of its international report on student test scores for the year 2022. The results do not augur well for the future of Western countries as robust, modern economies and innovative societies. PISA stands for “Programme for International Student Assessment.” The system currently covers all 38 Organisation […]

  At a rally in South Carolina on February 10, former United States President Donald Trump shocked many as he recalled a discussion he had with a European NATO ally when he was president. In response to a question about whether the U.S. would come to a country’s aid even if it had not spent […]

  Harmonizing Chaos: The Role of Rule of Law in Fostering Spontaneous Order Vibhu Vikramaditya   ABSTRACT The Law and Economics Revolution in the latter half of the 20th Century, part of a broader pushback against the failures of general equilibrium economics and the planned economies based on it, has crucially underscored the importance of […]

Where does Friedrich Hayek fit in contract theory? Babatunde Valentine Onabajo   ABSTRACT This paper examines the views of the 20th century Austrian economist and political scientist Friedrich Hayek within the context of contract theory. Contract theory is the branch of economics that studies contracts, particularly their design and application. Contract theory falls within the […]

Rule of law: The universal unwritten constitution Martin van Staden ABSTRACT Constitutionalism – one of classical liberalism’s significant legacies in jurisprudence – is the idea that the state must be subject to law; in particular, that state power must be subject to legal limitation. Every written constitutional instrument in the world differs on the scope […]

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