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Fall 2024

ISSN 0890-913X

Volume 39, Number 3

What Ought to Be if “There Ought to Be a Law”

Art Carden, Samford University and American Institute for Economic Research

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Carden,Art.2024.“WhatOughttoBeif“ThereOughttoBeaLaw.”JournalofPrivateEnterprise,39(3):79–89.WhatOughttoBeif“ThereOughttoBeaLaw”ArtCarden*SamfordUniversityandAmericanInstituteforEconomicResearchUnitedStatesofAmericaAbstractPapersineconomicsaregenerallyconsideredincompleteiftheydonothavepolicyimplications;however,thepolicyimplicationsoftenmakealotofunfoundedassumptionsabouthowthepolicywillbeimplementedandwhetheritwillbesuccessful.Whileitmightnotbetheresponsibilityofanauthordiscussingpolicyimplications,thepolicyimplicationsneedtobeconsideredwithreferencetotheconsiderationslaidoutbyJasonBrennanandChristopherFreimanandelaboratedhere,asStevenHorwitzexplainedinhisscholarshipandpopularwork“OughtImpliesCan.”JELCodes:D72,H23,P16“Economistsshouldceaseprofferingadviceasiftheywereemployedbyabenevolentdespot,andtheyshouldlooktothestructurewithinwhichpoliticaldecisionsaremade.”—JamesM.Buchanan,“TheConstitutionofEconomicPolicy”“‘Oughts’without‘cans’—ethicalpronouncementswithouteconomics—arelikelytoleadtodisastrouspublicpolicies.”—StevenG.Horwitz,“OughtImpliesCan”I.IntroductionStevenG.Horwitz’smostcitedworkishis2000bookMicrofoundationsandMacroeconomics:AnAustrianPerspective.Horwitzwasmorethanamonetaryeconomist,however.Hewasverymuchacomparativepoliticaleconomist.Thisisparticularlyclearfromhissecondmost-citedwork,his2009paper“Wal-MarttotheRescue:Private*IamgratefultoparticipantsattheBallStateUniversityconference“BuildingontheIntellectualContributionsofStevenHorwitz”forcommentsandsuggestionsandtoJasonBrennanforsharingaworking-paperversionofBrennanandFreiman(2022),whichhepresentedaspartofStanfordUniversity’sClassicalLiberalismSeminaronMarch24,2022,andwhichinspiredmostofwhatfollows.

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Metadata [hide]

Title	What Ought to Be if “There Ought to Be a Law”
Authors/Creators:	Art Carden, Samford University and American Institute for Economic Research
Year:	2024
Volume:	39
Number:	3
Pages:	79 - 89
Publisher:	The Association of Private Enterprise Education
ISSN:	0890-913X
Document Type:	Articles
Keywords:	James M. Buchanan, “The Constitution of Economic Policy”, Steven G. Horwitz, “Ought Implies Can”

Citation:
Carden, Art / 2024. "What Ought to Be if “There Ought to Be a Law”." The Journal of Private Enterprise, 39(3): 79-89.