Econlib Resources
Liberty Fund Resources
FEATURED TOPIC
Disaster and Recovery
Jack Hirshleifer
Defeated in battle and ravaged by bombing in the course of World War II, Germany and Japan nevertheless made postwar recoveries that startled the world. Within ten years these nations were once again considerable economic powers. A decade later, each had not only regained prosperity but had also economically overtaken, in important respects, some of the war's victors....
Still, successful recovery is by no means universal. The ancient Cretan civilization may or may not have been destroyed by earthquake, and the Mayan civilization by disease, but neither recovered. Most famously, of course, the centuries-long Dark Ages followed the fall of Rome....
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ALSO OF INTEREST
Health Insurance
John C. GoodmanHealth Care
Michael A. MorriseyGovernment Debt and Deficits
John J. SeaterFiscal Sustainability
Laurence J. KotlikoffPolitical Behavior
Richard L. StroupWelfare
Thomas MaCurdy and Jeffrey M. JonesFEATURED BIOGRAPHY
Ragnar Frisch
(1895-1973)
In 1969 Norwegian Ragnar Frisch, along with Dutch economist Jan Tinbergen, received the first Nobel Prize for economics "for having developed and applied dynamic models for the analysis of economic processes." Frisch received his prize for his pioneering work in econometric modeling and measurement; indeed, Frisch invented the word "econometrics" to refer to the use of mathematical and statistical techniques to test economic hypotheses. Frisch founded the Econometric Society in 1930....
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The cuneiform inscription in the Liberty Fund logo is the earliest-known written appearance of the word "freedom" (amagi), or "liberty." It is taken from a clay document written about 2300 B.C. in the Sumerian city-state of Lagash.