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Steven Horwitz explains how political and legal institutions provide the framework within which all human behavior takes place. The way contracts are enforced, property is protected, and markets are regulated create incentives and channel action in different ways. In this way, institutions play a large role in determining a society’s success - or failure.
Steven Horwitz is the Charles A. Dana Professor of Economics and department chair at St. Lawrence University in Canton, NY. He completed his M.A. and Ph.D. in economics at George Mason University and received his A.B. in economics and philosophy from The University of Michigan. He is the author of two books, Microfoundations and Macroeconomics: An Austrian Perspective and Monetary Evolution, Free Banking, and Economic Order, and he has written extensively on Austrian economics, Hayekian political economy, monetary theory and history, and macroeconomics. In addition to several dozen articles in numerous professional journals, he has also done nationally recognized public policy work on the role of the private sector during Hurricane Katrina for the Mercatus Center, where he is an Affiliated Senior Scholar. He is also a Senior Fellow of the Fraser Institute in Canada. The author of numerous op-eds, Horwitz is a frequent guest on TV and radio programs, particularly speaking on the Great Recession and monetary policy. His current research is on the economics and social theory of the family, and he is working on a book on classical liberalism and the family.
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