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Robert P. Murphy

Government Debt and Future Generations

Robert P. Murphy
June 1, 2015

Ask the proverbial "man on the street" whether current government debt imposes a burden on future generations, and he will likely answer "yes." But ask the same question of sophisticated economists, especially Keynesian ones, and they will likely answer "no." Many will say "we owe it to ourselves." It turns out, argues Robert P. Murphy, that the man on the street is right: current government debt does impose a burden on future generations.
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Arnold Kling

MIT's Model Economics Department

Arnold Kling
June 1, 2015
This month Arnold Kling, an "MITorian" himself, explores the evolution of the discipline of economics through the lens of the ever-influential MIT department. Was the shift in economics from a philosophical to a technical discipline inevitable, or did MIT drive the transition?
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FEATURED COLUMNS

AN ECONOMIST LOOKS AT EUROPE

Pedro Schwartz

Jeremy Bentham's Mistaken Universalism

Pedro Schwartz
June 1, 2015
Pedro Schwartz explores the legacy of Bentham's utilitarian jurisprudence and political philosophy, paying particular attention to Bentham's influence on the Spanish-speaking world. Dubbing such utilitarianism as a classic example of Hayekian constructivism, Schwartz still sees reason why the philosophy remains in vogue to this day.
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THINKING STRAIGHT

Anthony de Jasay

The Evil Bogey of Secular Stagnation

Anthony de Jasay
June 8, 2015
In this month's column, Anthony de Jasay discusses secular stagnation and the liquidity trap.
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