By Donald J. Boudreaux

Modern economists excel at identifying theoretical reasons why markets might fail. While these theories may temper uncritical views of the market, it is important to note that markets do, in fact, work incredibly well. Indeed, markets work so thoroughly and quietly that their success too often goes unnoticed. ...

Economist and author Daron Acemoglu of MIT discusses with EconTalk host Russ Roberts the challenge of shared prosperity and the policies that could bring about a more inclusive economy. Acemoglu argues for the importance of good jobs over redistribution and makes the case for the policies that could lead to jobs and op...

By Peter J. Boettke

Economics in the hands of its masters is an expert critique of rule by expertise. And even among its masters, there are many differing visions of the role of economics. —Pete Boettke Robert Skidelsky wrote a magisterial three-volume biography of John Maynard Keynes.1 It is important to note that he titled the sec...

By Amy Willis

Is it possible for a leader to be both humble and confident? At what point does confidence become arrogance, and perhaps dangerous? In a very unique conversation, this week's episode is the result of a very thoughtful email Russ received from an avid listener, David Deppner. A veteran leader himself, Deppner inspir...

By David Henderson

  We need to restore a constituency and a faith that we can have a productive foreign policy, and I think that part of what that will entail is putting diplomacy and burden sharing at the front of our messaging and of our packaging and of our actions. Right now, humanitarian intervention, if it happens — and ...

Can a great leader or manager be humble in public? Or is exuding confidence, even when it may not be merited, a key part of leadership? In this episode of EconTalk, host Russ Roberts talks with David Deppner, CEO of Psyberware, about an email David sent Russ wondering how Russ might reconcile his passion for humility a...

By Anders Aslund

From 1989 to 1991, communism foundered throughout the former Soviet bloc in Europe and Asia. From Prague to Vladivostok, twenty-eight countries in the former Soviet Union and Eastern Europe abandoned similar political and economic systems.1 The Collapse of the Socialist System At the end of communism,...

By Scott Sumner

One would think that there are public policies that would substantially accelerate the pace of innovation. I'm not so sure. I'll address this issue in a roundabout fashion, starting with a discussion of innovation in some seemingly unrelated fields. In 1969, we had just landed on the moon, the Boeing 747 was carryin...

By Arnold Kling

Much of the time, it is in the interest of the individual to follow the crowd but in the social interest for individuals to say and do what they think best. Well-functioning institutions take steps to discourage conformity and to promote dissent, partly to protect the rights of dissenters but mostly to protect interest...

By John Alcorn

For the next ten weeks, I will write a series of posts about prohibitions: frontiers of liberty and markets.  This will be a topic discussion club, inspired by Bryan Caplan’s recent book club about persistence of poverty.  However, we won’t focus on one book.  I will provide links here and there to short, ungate...