This Issue:

Summer 2021
ISSN: 0890-913X
Volume XXXVI,
Number 2

Journal Editors

Editor - Edward Peter Stringham, Trinity College

Associate Editor - Gerald A. Gunderson, Trinity College

Associate Editor - Diana W. Thomas, Creighton University

Associate Editor - Alexander William Salter, Texas Tech University

Managing Editor - J. R. Clark, University of Tennessee at Chattanooga

Production Manager - Amy Fontinelle

The Association of
Private Enterprise Education

The Journal of Private Enterprise is a quarterly double blind peer reviewed academic journal published by The Association of Private Enterprise Education. The Journal of Private Enterprise brings together scholars in such fields as economics, management, entrepreneurship, marketing, finance, ethics, religion, and education who have done research on topics pertaining to systems of private enterprise worldwide. The journal is listed in ABI/INFORM-ProQuest, Cabell’s, Cengage/ThomsonGale, EBSCO, EconLit, the Journal of Economic Literature, Public Affairs Information Service, Research Papers in Economics (RePEc), and Urlich’s.

Since its founding in 1985, the Journal of Private Enterprise has become an important forum for scholarship in private enterprise. It has developed a rich mix of contributors ranging from Nobel Prize winners to promising younger scholars, spanning the full range of areas where private enterprise applies, including economics, entrepreneurship, public policy, history, religion, and philosophy. The importance of spreading economic freedom throughout the world motivated the Journal to expand its international readership. Today the Journal has print subscriptions in two dozen countries on five continents.

The Journal invites submissions for a small fee; papers presented at The Association of Private Enterprise Education (APEE) conference receive a waiver. A subscription to the Journal is included with membership in the Association of Private Enterprise Education. Individual and library subscriptions without APEE membership are available for $24 per year. To subscribe or order back issues, please contact Gerald Gunderson, Associate Editor Journal of Private Enterprise, Trinity College, 300 Summit Street, Hartford, CT 06106. Back issues are available for $10 each plus $2.00 postage. Each year, one article receives the Paper of the Year Award at the APEE conference.

The Editors at the Journal of Private Enterprise graciously thank Universidad Francisco Marroquín for designing and hosting this website.


Editorial Board
Peter Boettke, George Mason University
William Butos, Trinity College
Nicholas Capaldi, Loyola University
Christopher Coyne, George Mason University
Ramon P. DeGennaro, University of Tennessee
Pierre Garello, Université Aix-Marseille III
James Gwartney, Florida State University
P. J. Hill, Wheaton College
Kim Holder, University of West Georgia
Calvin A. Kent, Marshall University
Peter Kurrild-Klitgaard, University of Copenhagen
Dwight R. Lee, Southern Methodist University
Peter Leeson, George Mason University
Roger E. Meiners, University of Texas at Arlington
Gerald O'Driscoll, Cato Institute
Mark Pennington, King's College London
Benjamin Powell, Texas Tech University
Douglas Rasmussen, St. John’s University
Mark Schug, University of Wisconsin at Milwaukee
Anja Shortland, King's College London
Vernon Smith, Chapman University
Clifford Thies, Shenandoah University
Lawrence H. White, George Mason University
Andrew Young, Texas Tech University