While the globe’s most advanced nations develop amazing new technologies, and create ever-increasing amounts of wealth, many continue to languish in poverty. This sad fact raises urgent questions: Why are parts of the world so rich, while others are so poor? What can we do to ensure that everyone, everywhere, has the freedom to prosper? Why have our best attempts to help poor nations failed?
These are the questions of the Mercatus Center Global Prosperity Initiative. Setting aside simple formulas for international development, our scholars seek to address these questions from our unique "institutional choice" perspective, synthesizing the thought of Nobel Laureate economists Friedrich Hayek, James Buchanan, Ronald Coase, Douglass North, and Vernon Smith. The Global Prosperity Initiative seeks to understand the basic cultural, political, economic, and legal institutions that must be in place to enable people to engage in cooperation for mutual advantage, and to help others apply this understanding to policy.
For more information, contact Dan Rothschild at drothsch@gmu.edu.
Global Prosperity Initiative Projects
The Mercatus Center at George Mason University in Arlington, Virginia is conducting a five-year project following the rebuilding of the Gulf Coast in the wake of the terrible destruction wrought by Hurricane Katrina. We are focusing our efforts in Orleans and St. Bernard Parishes, Louisiana and Harrison and Hancock Counties, Mississippi to examine how different social, legal, political, and economic institutions engender different types of response and how they may have affected different communities during and after the hurricane. Click here to learn more...
While most regions of the world witness increased standards of living, better health care, and greater economic opportunity, Africans continue to face famine, wide-spread disease, high levels of political corruption, and war. Consequently, Africa has grown poorer with each passing decade since gaining its independence. Recognizing the challenge and opportunity that Africa presents, the Mercatus Center team will focus its research efforts on enterprise-based solutions to poverty to be found in Africa--solutions that can serve as a lesson for the rest of the world about what is possible when human creativity is unleashed. Click here to learn more...
Each year, the Mercatus Center's Global Prosperity Initiative sends scholars and graduate students to the field to roll up their sleeves and take a first hand look at underdevelopment. Searching for common sense solutions from the point of view of the entrepreneur, the Mercatus Center Scholars use innovative data collection techniques with an eye toward US policy.