The rapidly changing and evolving art market might appear to be chaotic to the casual observer, with new highs, potential lows, and tastes and fashions changing season to season. Economists, however, view the actions of buyers and sellers as constituting an identifiable market. They have, for some decades, studied such issues as artistic productivity and "death effects" on prices, investment returns, and on the basis of the behavior and estimated prices in auction markets. The Economics of American Art analyzes the most pervasive economic issues facing the art world, applied to the whole spectrum of American art. The book begins by looking at how a market for American art developed, how the politics of the post-war era shaped, at least in large part, the direction of American art, and how this legacy continues into contemporary art today. The book then tackles several salient, integral questions animating the American art world: Are age and "type" of artist (i.e. traditional or "innovative") related and, if so, how might they be related to productivity? Is investment in American art a remunerative endeavor compared to other investment possibilities? Do economic insights provide understanding of fakes, fraud and theft of art, particularly American art, and is it possible to prevent art crime? Is there is a boom (or a bust) in the market for contemporary American art as might be found in other markets? The ongoing evolution of American art is attended by a massive number of influences, and the economic concepts employed in this volume will complement other critical and important cultural studies of art. Both practical and accessible, The Economics of American Art will be essential for collectors, auction houses, American art experts of all kinds, museums, gallery owners and, not least, by economists with continuing scholarly interests in these matters.

The rapidly changing and evolving art market might appear to be chaotic to the casual observer, with new highs, potential lows, and tastes and fashions changing season to season. Economists, however, view the actions of buyers and sellers as constituting an identifiable market. They have, for some decades, studied such issues as artistic productivity and "death effects" on prices, investment returns, and on the basis of the behavior and estimated prices in auction markets.The Economics of American Art analyzes the most pervasive economic issues facing the art world, applied to the whole spectrum of American art. The book begins by looking at how a market for American art developed, how the politics of the post-war era shaped, at least in large part, the direction of American art, and how this legacy continues into contemporary art today. The book then tackles several salient, integral questions animating the American art world: Are age and "type" of artist (i.e. traditional or "innovative") related and, if so, how might they be related to productivity? Is investment in American art a remunerative endeavor compared to other investment possibilities? Do economic insights provide understanding of fakes, fraud and theft of art, particularly American art, and is it possible to prevent art crime? Is there is a boom (or a bust) in the market for contemporary American art as might be found in other markets?The ongoing evolution of American art is attended by a massive number of influences, and the economic concepts employed in this volume will complement other critical and important cultural studies of art. Both practical and accessible, The Economics of American Art will be essential for collectors, auction houses, American art experts of all kinds, museums, gallery owners and, not least, by economists with continuing scholarly interests in these matters.

The rapidly changing and evolving art market might appear to be chaotic to the casual observer, with new highs, potential lows, and tastes and fashions changing season to season. Economists, however, view the actions of buyers and sellers as constituting an identifiable market. They have, for some decades, studied such issues as artistic productivity and "death effects" on prices, investment returns, and on the basis of the behavior and estimated prices in auction markets.The Economics of American Art analyzes the most pervasive economic issues facing the art world, applied to the whole spectrum of American art. The book begins by looking at how a market for American art developed, how the politics of the post-war era shaped, at least in large part, the direction of American art, and how this legacy continues into contemporary art today. The book then tackles several salient, integral questions animating the American art world: Are age and "type" of artist (i.e. traditional or "innovative") related and, if so, how might they be related to productivity? Is investment in American art a remunerative endeavor compared to other investment possibilities? Do economic insights provide understanding of fakes, fraud and theft of art, particularly American art, and is it possible to prevent art crime? Is there is a boom (or a bust) in the market for contemporary American art as might be found in other markets?The ongoing evolution of American art is attended by a massive number of influences, and the economic concepts employed in this volume will complement other critical and important cultural studies of art. Both practical and accessible, The Economics of American Art will be essential for collectors, auction houses, American art experts of all kinds, museums, gallery owners and, not least, by economists with continuing scholarly interests in these matters.

In the global marketplace of ideas, few realms spark as much conflict as religion. For millions of people, it is an integral part of everyday life, reflected by a widely divergent supply of practices and philosophical perspectives. Yet, historically, the marketplace has not always been competitive. While the early Common Era saw competition between Christianity, Judaism, and the many pagan cults, Roman Christianity came eventually to dominate Western Europe.   Using basic concepts of economic theory, Robert B. Ekelund Jr. and Robert D. Tollison explain the origin and subsequent spread of Roman Christianity, showing first how the standard concepts of risk, cost, and benefit can account for the demand for religion. Then, drawing on the economics of networking, entrepreneurship, and industrial organization, the book explains Christianity''s rapid ascent. Like a business, the church developed sound business strategies that increased its market share to a near monopoly in the medieval period. This book offers a fascinating look at the dynamics of Christianity’s rise, as well as how aspects the church’s structure—developed over the first millennium—illuminate a number of critical problems faced by the church today.

What role did economics play in leading the United States into the Civil War in the 1860s, and how did the war affect the economies of the North and the South? Tariffs, Blockades, and Inflation uses contemporary economic analyses such as supply and demand, modern market theory, and the economics of politics to interpret events of the Civil War. Simplifying the sometimes complex intricacies of the subject matter, Thornton and Ekelund have penned a nontechnical primer that is jargon-free and accessible. Tariffs, Blockades, and Inflation also takes a comprehensive approach to its topic. It offers a cohesive and a persuasive explanation of the how, what, and why behind the many factors at work on both sides of the contest. While most books only delve into a particular aspect of the war, this title effectively bridges the gap by offering an all-encompassing, yet relatively brief, introduction to the essential economics of the Civil War. This book starts out with a look at the reasons for the beginning of the Civil War, including explaining why the war began when it did. It then examines the economic realities in both the North and South. Also covered are the different financial strategies implemented by both the Union and the Confederacy to fund the war and the reasons behind what ultimately led to Southern defeat. Finally, the economic effect of Reconstruction is discussed, including the impact it had on the former slave population. Thornton and Ekelund have contributed an overdue examination of the Civil War that will impart to students a modern way to better comprehend the conflict. Tariffs, Blockades, and Inflation offers fresh, penetrating insights into this pivotal event in American history.

Sir Edwin Chadwick (1800-1890) is hardly a household name among economists, although he is a well-known hero to sanitation engineers and utilitarian social reformers. His brilliant and cunning ideas relating to contemporary economic policy are illuminated for the first time in this pioneering study. The authors detail Chadwick's sophisticated conceptions of moral hazard, common pool problems, asymmetric information, and theory of competition, all of which differ starkly from those promulgated by Adam Smith and other classical economists. Also examined are Chadwick's views on government versus market role in dealing with problems created by natural monopoly, and whether some or all market problems justify government regulation or alterations of property rights. The authors investigate Chadwick's utilitarian approach to labor, business cycles, and economic growth, contrasting his modern view with those of his classical economic contemporaries. Chadwick's enormous output and cutting-edge methods undoubtedly establish him as an original and trenchant thinker in economic matters as well as a prophetic voice on contemporary issues in economics. This unique look at his less familiar research will interest academic regulatory economists, sociologists, students and scholars of law and economics, and all those interested in the fundamentals of social reform.

Sir Edwin Chadwick (1800-1890) is hardly a household name among economists, although he is a well-known hero to sanitation engineers and utilitarian social reformers. His brilliant and cunning ideas relating to contemporary economic policy are illuminated for the first time in this pioneering study.

The authors detail Chadwick''s sophisticated conceptions of moral hazard, common pool problems, asymmetric information, and theory of competition, all of which differ starkly from those promulgated by Adam Smith and other classical economists. Also examined are Chadwick''s views on government versus market role in dealing with problems created by natural monopoly, and whether some or all market problems justify government regulation or alterations of property rights. The authors investigate Chadwick''s utilitarian approach to labor, business cycles, and economic growth, contrasting his modern view with those of his classical economic contemporaries.

Chadwick''s enormous output and cutting-edge methods undoubtedly establish him as an original and trenchant thinker in economic matters as well as a prophetic voice on contemporary issues in economics. This unique look at his less familiar research will interest academic regulatory economists, sociologists, students and scholars of law and economics, and all those interested in the fundamentals of social reform.

This three volume set offers an extensive collection of the most significant articles which investigate the foundations of past and current thinking on regulatory economics. The papers cover more than 150 years of contributions to the subject and range from the earliest discussions of controlled markets to some very recent developments. The emphasis of the volumes is on historical, conceptual and empirical studies of regulation: Volume I is devoted to the origins and development of regulatory theory and practice; Volume II examines contemporary theories of regulation; and Volume III addresses issues related to regulation and deregulation and offers some empirical studies of the effects of regulation in past and present markets.In addition to a comprehensive guide to the articles included in his selection, the editor has also written a scholarly introduction, which provides the reader with a short history of the development of ideas on regulatory economics and the establishment of institutions connected with regulation.

The rapidly changing and evolving art market might appear to be chaotic to the casual observer, with new highs, potential lows, and tastes and fashions changing season to season. Economists, however, view the actions of buyers and sellers as constituting an identifiable market. They have, for some decades, studied such issues as artistic productivity and "death effects" on prices, investment returns, and on the basis of the behavior and estimated prices in auction markets. The Economics of American Art analyzes the most pervasive economic issues facing the art world, applied to the whole spectrum of American art. The book begins by looking at how a market for American art developed, how the politics of the post-war era shaped, at least in large part, the direction of American art, and how this legacy continues into contemporary art today. The book then tackles several salient, integral questions animating the American art world: Are age and "type" of artist (i.e. traditional or "innovative") related and, if so, how might they be related to productivity? Is investment in American art a remunerative endeavor compared to other investment possibilities? Do economic insights provide understanding of fakes, fraud and theft of art, particularly American art, and is it possible to prevent art crime? Is there is a boom (or a bust) in the market for contemporary American art as might be found in other markets? The ongoing evolution of American art is attended by a massive number of influences, and the economic concepts employed in this volume will complement other critical and important cultural studies of art. Both practical and accessible, The Economics of American Art will be essential for collectors, auction houses, American art experts of all kinds, museums, gallery owners and, not least, by economists with continuing scholarly interests in these matters.

The rapidly changing and evolving art market might appear to be chaotic to the casual observer, with new highs, potential lows, and tastes and fashions changing season to season. Economists, however, view the actions of buyers and sellers as constituting an identifiable market. They have, for some decades, studied such issues as artistic productivity and "death effects" on prices, investment returns, and on the basis of the behavior and estimated prices in auction markets.The Economics of American Art analyzes the most pervasive economic issues facing the art world, applied to the whole spectrum of American art. The book begins by looking at how a market for American art developed, how the politics of the post-war era shaped, at least in large part, the direction of American art, and how this legacy continues into contemporary art today. The book then tackles several salient, integral questions animating the American art world: Are age and "type" of artist (i.e. traditional or "innovative") related and, if so, how might they be related to productivity? Is investment in American art a remunerative endeavor compared to other investment possibilities? Do economic insights provide understanding of fakes, fraud and theft of art, particularly American art, and is it possible to prevent art crime? Is there is a boom (or a bust) in the market for contemporary American art as might be found in other markets?The ongoing evolution of American art is attended by a massive number of influences, and the economic concepts employed in this volume will complement other critical and important cultural studies of art. Both practical and accessible, The Economics of American Art will be essential for collectors, auction houses, American art experts of all kinds, museums, gallery owners and, not least, by economists with continuing scholarly interests in these matters.

The rapidly changing and evolving art market might appear to be chaotic to the casual observer, with new highs, potential lows, and tastes and fashions changing season to season. Economists, however, view the actions of buyers and sellers as constituting an identifiable market. They have, for some decades, studied such issues as artistic productivity and "death effects" on prices, investment returns, and on the basis of the behavior and estimated prices in auction markets.The Economics of American Art analyzes the most pervasive economic issues facing the art world, applied to the whole spectrum of American art. The book begins by looking at how a market for American art developed, how the politics of the post-war era shaped, at least in large part, the direction of American art, and how this legacy continues into contemporary art today. The book then tackles several salient, integral questions animating the American art world: Are age and "type" of artist (i.e. traditional or "innovative") related and, if so, how might they be related to productivity? Is investment in American art a remunerative endeavor compared to other investment possibilities? Do economic insights provide understanding of fakes, fraud and theft of art, particularly American art, and is it possible to prevent art crime? Is there is a boom (or a bust) in the market for contemporary American art as might be found in other markets?The ongoing evolution of American art is attended by a massive number of influences, and the economic concepts employed in this volume will complement other critical and important cultural studies of art. Both practical and accessible, The Economics of American Art will be essential for collectors, auction houses, American art experts of all kinds, museums, gallery owners and, not least, by economists with continuing scholarly interests in these matters.

In the global marketplace of ideas, few realms spark as much conflict as religion. For millions of people, it is an integral part of everyday life, reflected by a widely divergent supply of practices and philosophical perspectives. Yet, historically, the marketplace has not always been competitive. While the early Common Era saw competition between Christianity, Judaism, and the many pagan cults, Roman Christianity came eventually to dominate Western Europe.   Using basic concepts of economic theory, Robert B. Ekelund Jr. and Robert D. Tollison explain the origin and subsequent spread of Roman Christianity, showing first how the standard concepts of risk, cost, and benefit can account for the demand for religion. Then, drawing on the economics of networking, entrepreneurship, and industrial organization, the book explains Christianity''s rapid ascent. Like a business, the church developed sound business strategies that increased its market share to a near monopoly in the medieval period. This book offers a fascinating look at the dynamics of Christianity’s rise, as well as how aspects the church’s structure—developed over the first millennium—illuminate a number of critical problems faced by the church today.

What role did economics play in leading the United States into the Civil War in the 1860s, and how did the war affect the economies of the North and the South? Tariffs, Blockades, and Inflation uses contemporary economic analyses such as supply and demand, modern market theory, and the economics of politics to interpret events of the Civil War. Simplifying the sometimes complex intricacies of the subject matter, Thornton and Ekelund have penned a nontechnical primer that is jargon-free and accessible. Tariffs, Blockades, and Inflation also takes a comprehensive approach to its topic. It offers a cohesive and a persuasive explanation of the how, what, and why behind the many factors at work on both sides of the contest. While most books only delve into a particular aspect of the war, this title effectively bridges the gap by offering an all-encompassing, yet relatively brief, introduction to the essential economics of the Civil War. This book starts out with a look at the reasons for the beginning of the Civil War, including explaining why the war began when it did. It then examines the economic realities in both the North and South. Also covered are the different financial strategies implemented by both the Union and the Confederacy to fund the war and the reasons behind what ultimately led to Southern defeat. Finally, the economic effect of Reconstruction is discussed, including the impact it had on the former slave population. Thornton and Ekelund have contributed an overdue examination of the Civil War that will impart to students a modern way to better comprehend the conflict. Tariffs, Blockades, and Inflation offers fresh, penetrating insights into this pivotal event in American history.

Sir Edwin Chadwick (1800-1890) is hardly a household name among economists, although he is a well-known hero to sanitation engineers and utilitarian social reformers. His brilliant and cunning ideas relating to contemporary economic policy are illuminated for the first time in this pioneering study. The authors detail Chadwick's sophisticated conceptions of moral hazard, common pool problems, asymmetric information, and theory of competition, all of which differ starkly from those promulgated by Adam Smith and other classical economists. Also examined are Chadwick's views on government versus market role in dealing with problems created by natural monopoly, and whether some or all market problems justify government regulation or alterations of property rights. The authors investigate Chadwick's utilitarian approach to labor, business cycles, and economic growth, contrasting his modern view with those of his classical economic contemporaries. Chadwick's enormous output and cutting-edge methods undoubtedly establish him as an original and trenchant thinker in economic matters as well as a prophetic voice on contemporary issues in economics. This unique look at his less familiar research will interest academic regulatory economists, sociologists, students and scholars of law and economics, and all those interested in the fundamentals of social reform.

Sir Edwin Chadwick (1800-1890) is hardly a household name among economists, although he is a well-known hero to sanitation engineers and utilitarian social reformers. His brilliant and cunning ideas relating to contemporary economic policy are illuminated for the first time in this pioneering study.

The authors detail Chadwick''s sophisticated conceptions of moral hazard, common pool problems, asymmetric information, and theory of competition, all of which differ starkly from those promulgated by Adam Smith and other classical economists. Also examined are Chadwick''s views on government versus market role in dealing with problems created by natural monopoly, and whether some or all market problems justify government regulation or alterations of property rights. The authors investigate Chadwick''s utilitarian approach to labor, business cycles, and economic growth, contrasting his modern view with those of his classical economic contemporaries.

Chadwick''s enormous output and cutting-edge methods undoubtedly establish him as an original and trenchant thinker in economic matters as well as a prophetic voice on contemporary issues in economics. This unique look at his less familiar research will interest academic regulatory economists, sociologists, students and scholars of law and economics, and all those interested in the fundamentals of social reform.

This three volume set offers an extensive collection of the most significant articles which investigate the foundations of past and current thinking on regulatory economics. The papers cover more than 150 years of contributions to the subject and range from the earliest discussions of controlled markets to some very recent developments. The emphasis of the volumes is on historical, conceptual and empirical studies of regulation: Volume I is devoted to the origins and development of regulatory theory and practice; Volume II examines contemporary theories of regulation; and Volume III addresses issues related to regulation and deregulation and offers some empirical studies of the effects of regulation in past and present markets.In addition to a comprehensive guide to the articles included in his selection, the editor has also written a scholarly introduction, which provides the reader with a short history of the development of ideas on regulatory economics and the establishment of institutions connected with regulation.