•  827
    On a Fallacy in the Kaldor-Hicks Efficiency-Equity Analysis
    Constitutional Political Economy 25 (2): 125-136. 2014.
    This paper shows that implicit assumptions about the numeraire good in the Kaldor-Hicks efficiency-equity analysis involve a "same-yardstick" fallacy (a fallacy pointed out by Paul Samuelson in another context). These results have negative implications for cost-benefit analysis, the wealth-maximization approach to law and economics, and other parts of applied welfare economics--as well as for the whole vision of economics based on the "production and distribution of social wealth."
  •  731
    Does Classical Liberalism Imply Democracy?
    Ethics and Global Politics 8 (1): 29310. 2015.
    There is a fault line running through classical liberalism as to whether or not democratic self-governance is a necessary part of a liberal social order. The democratic and non-democratic strains of classical liberalism are both present today—particularly in America. Many contemporary libertarians and neo-Austrian economists represent the non-democratic strain in their promotion of non-democratic sovereign city-states (startup cities or charter cities). We will take the late James M. Buchanan as…Read more
  •  667
    Since the pioneering work of Birkhoff and von Neumann, quantum logic has been interpreted as the logic of (closed) subspaces of a Hilbert space. There is a progression from the usual Boolean logic of subsets to the "quantum logic" of subspaces of a general vector space--which is then specialized to the closed subspaces of a Hilbert space. But there is a "dual" progression. The notion of a partition (or quotient set or equivalence relation) is dual (in a category-theoretic sense) to the notion of…Read more
  •  1056
    When this book was first published in 1990, there were massive economic changes in the East and significant economic challenges to the West. This critical analysis of democratic theory discusses the principles and forces that push both socialist and capitalist economies toward a common ground of workplace democratization. This book is a comprehensive approach to the theory and practice of the "Democratic firm" – from philosophical first principles to legal theory and finally to some of the detai…Read more
  •  358
    Classical physics and quantum physics suggest two meta-physical types of reality: the classical notion of a objectively definite reality with properties "all the way down," and the quantum notion of an objectively indefinite type of reality. The problem of interpreting quantum mechanics (QM) is essentially the problem of making sense out of an objectively indefinite reality. These two types of reality can be respectively associated with the two mathematical concepts of subsets and quotient sets …Read more
  •  516
    Listen Libertarians!: A Review of John Tomasi's Free Market Fairness (review)
    Journal of Economic Issues. forthcoming.
    John Tomasi's new book, Free Market Fairness, has been well-received as "one of the very best philosophical treatments of libertarian thought, ever" and as a "long and friendly conversation between Friedrich Hayek and John Rawls—a conversation which, astonishingly, reaches agreement". The book does present an authoritative state-of-the-debate across the spectrum from right-libertarianism on the one side to high liberalism on the other side. My point is not to question where Tomasi comes down wit…Read more
  •  42
    A new logic of partitions has been developed that is dual to ordinary logic when the latter is interpreted as the logic of subsets of a fixed universe rather than the logic of propositions. For a finite universe, the logic of subsets gave rise to finite probability theory by assigning to each subset its relative size as a probability. The analogous construction for the dual logic of partitions gives rise to a notion of logical entropy that is precisely related to Claude Shannon's entropy. In thi…Read more
  •  506
    The notion of a partition on a set is mathematically dual to the notion of a subset of a set, so there is a logic of partitions dual to Boole's logic of subsets (Boolean logic is usually mis-specified as "propositional" logic). The notion of an element of a subset has as its dual the notion of a distinction of a partition (a pair of elements in different blocks). Boole developed finite logical probability as the normalized counting measure on elements of subsets so there is a dual concept of log…Read more
  •  75
    Early democratic theorists such as Kant considered the effects of being a servant or, in modern terms, an employee to be so negative that such dependent people should be denied the vote. John Stuart Mill and John Dewey also noted the negative effects of the employment relation on the development of democratic habits and civic virtues but rather than deny the franchise to employees, they pushed for workplace democracy where workers would be a member of their company rather than an employee. In sp…Read more
  •  79
    This paper shows how the classical finite probability theory (with equiprobable outcomes) can be reinterpreted and recast as the quantum probability calculus of a pedagogical or toy model of quantum mechanics over sets (QM/sets). There have been several previous attempts to develop a quantum-like model with the base field of ℂ replaced by ℤ₂. Since there are no inner products on vector spaces over finite fields, the problem is to define the Dirac brackets and the probability calculus. The previo…Read more