Mikayla Novak

Mikayla Novak, a senior fellow at the Mercatus Center, uses her diverse background to challenge traditional economic views. She introduces the idea of entangled political economy, explaining how market and political networks intertwine rather than operate independently. Novak critiques mainstream economics for its reliance on static models, advocating for a dynamic approach that acknowledges human behavior. Highlights include insights on policy failures stemming from inefficient governance and the significance of transaction costs in understanding institutional frameworks. Her unique perspectives enhance the discussion of how social structures influence economic outcomes.