Peter Leeson

Posts About

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  Inside and Outside Perspectives on Legitimacy: An Economic Theory of the Noble Lie

  Drawing on the theory of cooperation, this paper argues that the impossibility of constructing totally incentive-compatible institutions, whether organizationally or politically, entails a necessary divergence between subjective preferences and objective payoffs – a “noble lie”. This implies the existence of irreducible and irreconcilable “inside” and “outside” perspectives on social institutions; . . .
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  Liberty As Legitimacy

  Lots of ink has been spilled in political philosophy over whether liberty is valuable as an end in itself, or as a means to some other end. I’d like to suggest that most discussions of political liberty can and should be understood in terms of legitimacy, and without invoking moral . . .