November 14, 2008

The Freedom and Economics of Choice

Key materials
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The endless variety of choices Americans enjoy daily is extraordinary—and yet so common it can be easily taken for granted.This world is so starkly different than the one faced many African entrepreneurs.What are the economics of choice, and why is consumer choice a fundamental indicator of individual liberty and the condition of democratic societies?

Karol also highlights the key institutions that are required to support freedom and choice. These institutions are necessary to keep power from being concentrated in the hands of a few people to the harm of many ordinary people.

Read Karol's article and learn more about the Claire Booth Luce Institute.