I will be leading a panel on “New Perspectives on Adam Smith” at the annual meeting of the Southern Economic Association later today. Thus far, my favorite talk has been Henry Thompson’s on “The Organization of Extortion”, which explores the law and economics of criminal protection rackets. Alas, Professor Thompson’s extortion paper is not yet posted to SSRN, so in the meantime, here is his previous work on “Cosa Nostra Courts“.
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