1.  6
    Nonneutralities in Science Funding: Direction, Destabilization, and Distortion.Thomas J. McQuade & William N. Butos - 2012 - Journal des Economistes Et des Etudes Humaines 18 (1).
    We treat science as a Hayekian social order whose distinctive emergent characteristic is the generation of knowledge. We model modern science as an institutional form that principally relies on publication with citation and its effects on individual reputation in order to study the possible effects of funding on science. We develop a taxonomy of three broad categories of effect: those having to do with the direction followed by scientific activity, those involving the operational and financial stability of both the physical (...)
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  2.  12
    Kirznerian Entrepreneurship and The Economics of Science.Peter J. Boettke & William N. Butos - 2002 - Journal des Economistes Et des Etudes Humaines 12 (1).
    The paper distinguishes two types of entrepreneurial activity in terms of their institutionally relevant contexts. Type 1 entrepreneurship refers to catallactic activity in which coordinating mechanisms, operating via the exchange of property rights, generates market prices. We identify Type 2 entrepreneurship with noncatallactic processes.The paper argues that scientific activity, despite exhibiting characteristics congenial to the economic way of thinking, cannot be generally studied as a catallactic process under prevailing institutional arrangements. Recent changes in the institutional context of science, however, suggest (...)
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    The Recession and Austrian Business Cycle Theory: An Empirical Perspective.William N. Butos - 1993 - Critical Review: A Journal of Politics and Society 7 (2-3):277-306.
    How well is Austrian business cycle theory corroborated by empirical evidence? This question is addressed by examining the contraction of 1990–1991 and the expansion leading up to it. An overview of the Austrian theory of the business cycle permits the identification of several empirical propositions implied by the theory. Empirical data for several economic variables are examined for consistency with the patterns suggested by the theory. The evidence suggests a muted Austrian cyclical process at work in conjunction with other factors (...)
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