Links for economists and historians of economic thought, by Daniele Besomi


Links for economists and historians of economic thought

Disclaimer : inclusion of links does not necessarily imply endorsement of the page contents.


Schools of thought

Links on Market failures (including natural monopoly and externalities ) and Market efficiency , Welfare economics , Pigou , Kaldor , Coase and the Coase theorem , transaction costs , Hayek , Common Law , spontaneous order


Market failures

Market Failure - teaching materials, exercises etc.
Market Failures
Robert H. Frank: A response to "The New Politics of Consumption" by Juliet Schor
Market Failures
By Robert Francis
Dasgupta: Markets and their Failure (a)
Ch. 4 of Dasgupta: The Economics of the Environment (Keynes Lecture), Proceedings of the British Academy, Volume 90, pp. 165-221
a list of market failure cases
Market Failure: What Does It All Mean? Part I
By Jason Clemens and Marc Law, The Fraser Institute (Economic Freedom network)
Market Failure: What Does It All Mean? Part II: Externalities
By Jason Clemens and Marc Law, The Fraser Institute (Economic Freedom network)
Market Failure (@
Libertarian Bibliography - Market Failure (Externalities, Public goods, and Transactions costs)
Public Goods - bibliography
Guide to Classical Liberal Scholarship

Natural monopoly

Regulation of Natural Monopoly
Ben W.F. Depoorter, Encyclopedia of Law and Economics, B. Bouckaert and G. De Geest (eds.), Cheltenham, Edward Elgar, 1999.
Natural Monopoly lecture notes


Pollution: Market Failure or Government Failure? Free markets are the answer
The New Australian
lecture notes, by John S. Cook
externalities and policy implications
downloads a powerpoint slide presentation
network externalities
Environmental Economics
with useful list of links

Market efficiency

Choices and Pareto Optimality
handout, discussing Fundamental Theorem of Welfare Economics, the Second Welfare Theorem, the Hicks-Kaldor Criteria for welfare improvement and Lindahl Pricing.
Necessary and Sufficient Conditions for Pareto Efficiency of Equilibrium in Non-Convex Economies.
by Chichilniski, G. and Heal, G.
Efficiency of Market Allocation
a syllabus
Going Back to the Basics - Rethinking Market Efficiency
Richard B. Olsen, Michel M. Dacorogna, Ulrich A. Müller, and Olivier V. Pictet
Frank H. Hahn (cepa)

Welfare economics

General pages

The Paretian System: IV - Social Welfare (cepa)
Neo-Paretian welfare economics: misconceptions and abuse
by Niek Koning and Roel Jongeneel. Wageningen economic papers, 30 Jan. 1997
Welfare Economics: For Light Or For Fruit?
A simple introduction to welfare economics, by Justin Morton , Junior Sophister
Neo-Paretian welfare economics and neoclassical micro-economics
Wageningen Economic Papers, January 1997
Bibliography on efficiency and welfare economics
Efficient at What? by Mark MacCallum, September 1997, Strategic Responses to Crime Group, Ministry of Justice, Po Box 180, Wellington. Working paper
Welfare Economics - portraits of Pigou, Pareto, Arrow and others


Arthur Cecil PIGOU @ cepa
Pigou, A. C @ Akamak
Arthur Cecil Pigou Princeton Economic Institute History of Economic Throught
Arthur Pigou
by the The Knitting Circle (Lesbian and Gay Staff Associationat South Bank University). Biography, bibliography, and references to secondary literature.
Pigou - portrait
Pigou - portrait
Pigou: Review of the Fifth Edition of Mashall's Principles of Economics
How is it possible for Pigou to have influenced and contributed to the construction of New Keynesian Economics? This scholar who contributed significantly to the developments of economics in the period surrounding the turn of the century, in his reign as
By James Arnold. Economic Research and analysis resources for students and researchers
How was Pigou portrayed in the General Theory and later macroeconomic texts?
By Thomas Dickson. Economic Research and Analysis resources
Keynes's Appendix to Chapter 19: A Reader's Guide
by Allin Cottrell, in History of Political Economy (to be downloaded). Abstract: The paper deals with Keynes's critique of Pigou, and takes issue with Nahid Aslanbeigui's recent attempt to "rehabilitate" the latter.
Psychology and economic fluctuations: Pigou, Mill and Keynes
by Melberg, Hans O. (1998)


Nicholas Kaldor (@ cepa)
Neoclassical and Kaldor Models of Economic Growth
a syllabus
Kaldor's Non-Linear Cycle @ cepa
Kaldor Papers: Contents
King's College, Cambridge, Modern Archives Centre


General pages

Ronald H. Coase @ cepa
The World According to Coase
"The World According to Coase," The Law School Record, University of Chicago Law School, by David D. Friedman
George Stigler on Coase
From Memoirs of an Unregulated Economist, by George J. Stigler
Interview with Coase
Reason magazine -- January1997
Press Release - Coase's Nobel prize, 1991

Bio-biblio & resources

Autobiography of Ronald Coase
Coase - portrait
Ronald Coase - resources
"A listing of the best and most comprehensive online resources pertaining to Ronald Coase" - ideachannel

Coase theorem

The Long FAQ on Liberalism (part of Liberalism Resurgent, by Steve Kangas)
Is the Coase Theorem contradicting the explanation of the firm?
by Martin Berka
The Coase "Theorem"
1995, William A. Edmundson
The Coase Theorem
by Brendan Fitzpatrick
The Coase Theorem
Steven G. Medema and Richard O. Zerbe, Jr. Keywords: Efficiency, Externalities, Invariance, Property Rights. Rich bibliography
Le théorème de Coase et ses imp
Bibliography: The Coase Theorem
Encyclopedia of Law and Economics
Generalised Coase Theorem (by Bertin Martens)
TOWARDS A GENERALISED COASE THEOREM. A general theory of bounded rationality, rule-following behaviour and the emergence of social and institutional structures as a substitute for market transactions, by Bertin Martens
The Coase Theorem (pdf) by Steven G. Medema and Richard O. Zerbe Jr., from The Encyclopedia of Law and economics

Transaction costs

Incomplete Contracts, Transaction Cost Theory and Its Empirical Evidence
Tetsuo Wada(Senior Researcher), First Department of Management and Economic Research. Article in IPTP monthly report, n. 103
Empirical Research in Transaction Cost Economics: A Review and Assessment
Howard A. Shelanski and Peter G. Klein. Journal of Law, Economics & Organization 11, no. 2 (October 1995): 335--61
Transaction cost economics
Encyclopedia of Corporate Governance
Transaction Costs, Property Rights and Models of Capitalism
Syllabus, by Ugo Pagano. With essential bibliography
Annotated Bibliography on Transaction Cost Economics
Compiled by Harvey S. James, Jr., Ph.D., University of Hartford
bibliography on Transaction costs
Encyclopedia of Law and Economics
Transaction Costs by Douglas W. Allen, from The Encyclopedia of Law and economics

Public Choice

Public Goods & Club Goods, by Patrick McNutt. , from The Encyclopedia of Law and economics
Keywords: Free Rider, Pareto Optimality, Club Goods, Excludability & Non-rivalry, Coase Theorem, Homogeneity
Public Choice, Constitutional Political Economy, and Law & Economics by Ludwig Van den Hauwe, from The Encyclopedia of Law and economics


General pages

Hayek @
Hayek (Encyclopedia of Philosophy of Education)
ref. to Mont Pelerin society
HAYEK: Social Theorist of the Century
HAYEK: Social Theorist of the Century, by Robert L. Formaini (Economic Insights, Vol. 4 No. 1)


Friedrich A. Hayek (1899-1992)
by Peter Boettke, from: The Freeman, 1992
Rothbard's obituary of Hayek
Friedrich August von Hayek: 1899-1992, By Murray N. Rothbard
Hayek - biography
Up From Serfdom: Freidrich A. Hayek and the Defence of Liberty. A Short Intellectual Biography by Professor Richard Ebeling
Bibliography of Writings on Hayek's Prices and Production
further links available


The Friedrich Hayek Scholars' Page
by Greg Ransom. Includes Bibliographies of Writings on Hayek, bibliography of Hayek's writings, links to Hayek's writings, biographies etc. A must.
Articles discussing Friedrich Hayek and his work available on the Internet
Papers, Research, and Reviews concerning Friedrich Hayek & His Work Available on the Internet or the World Wide Web by Greg Ransom -- Dept. of Philosophy, UC-Riverside
Chris Sciabarra's Austian Economics page (critical of some internal strands in Austrian


Hayek papers @ stanford

On Hayek and his writings

Friedrich A. Hayek
By Kelley L. Ross, Ph.D
Book Review: Hayek's Political Economy: The Socio-economics of Order (Steve Fleetwood)
by Steve Fleetwood
Hayek's Early Cycle Theory Re-examined , by Allin Cottrell
Hayek and the Limits of Human Reason:
by Dr. Samuel Gregg
Hayek's Constitutional Political Economy
by Viktor Vanberg; on Hayek's ideas on the relationship between rules, order and complex social systems
Friedrich Hayek: a Panglossian evolutionary theorist
by Andy Denis, May 1999


Hayek: Economics and Knowledge
Economics and Knowledge by Freidrich Hayek; Presidential address delivered before the London Economic Club; November 10 1936. Economica IV (new ser., 1937), 33-54. Also at

Spontaneous order

Hayek's Legacy of Spontaneous Order
by David Rehr, The Region, June 1992
Spontaneous Order and the Role of the State: Liberty and Market Efficiency.
By: Ryan Deel
Spontaneous Order
by Nigel Ashford; Foundation for Economic Education, section on "ideas on liberty"

Common Law

Understanding Common Law
by Friends of Freedom
Introduction à la Common Law
by Faculty of Law, McGill University
The History of the Common Law of England
by Matthew Hale, 1713

Schools of thought


Last updated: 12 September 2004