Article

How Should Econ 101 Be Taught?

Harvard Economics wunderkind Raj Chetty hopes to change the way students are introduced to economics. Chetty wants there to be more analysis of data and less attention to economic theory. As described by Dylan Matthews writing for Vox, "If Chetty is an advocate for anything, it's for the notion that economics is an empirical discipline, a science just as much as, say, medicine is."1 Chetty does not say that mainstream economic theory is irrelevant and, hence, dispensable. Yet he clearly...
Articles By Pedro Schwartz
Ideas Matter
READ FURTHER »

"Politics is the art of the impossible" —Think Tank Lore "The first question for anybody who believes in the importance of ideas is why our beliefs and proposals seem to have so little influence on governments, politicians, civil servants, lobbyists and trade representatives." Let me...

If any twentieth-century economist was a Renaissance man, it was Friedrich Hayek. He made fundamental contributions in political theory, psychology, and economics. In a field in which the relevance of ideas often is eclipsed by expansions on an initial theory, many of his contributions are so remarkable that people sti...

Read More

By:

  David Henderson

Hoover's Peter Robinson does an excellent job of interviewing Stanford's Jay Bhattacharya on various aspects of the COVID pandemic and lockdown. I recommend the whole thing: it's all informative, especially for those who might have forgotten what facts about the pandemic "we" were pretty sure of when. I want to h...

Read More

Journalist and author Rowan Jacobsen talks about his book Truffle Hound with EconTalk host Russ Roberts. This conversation has nothing to do with chocolate. It's about the strange world of underground fungi, found in the forest by specially trained dogs and used by chefs and home cooks around the world. You will learn ...

More

By:

  Scott Sumner

There's a lot of recent discussion about how the country has become increasingly polarized. One way of getting at the issue is by looking at the opposite question: Why weren't we polarized in the past? Here it will be useful to consider the mid-1960s and the late-1980s, two periods in which political polarization mi...

Read More

Introduction Supplementary materials for popular college textbooks used in courses in the Principles of Economics, Microeconomics, Price Theory, and Macroeconomics are suggested by topic. A few of these textbooks include N. Gregory Mankiw, Principles of Economics McConnell, Brue, and Flynn, Economics David ...

View Guide

"The government decided to pay the captains a bonus for each convict that walked off the boat in Australia alive." Towards the end of the 18th century, England began sending convicts to Australia. The transportation was privately provided but publicly funded. A lot of convicts died along the way, from disease due to...

Read More

A monopoly is an enterprise that is the only seller of a good or service. In the absence of government intervention, a monopoly is free to set any price it chooses and will usually set the price that yields the largest possible profit. Just being a monopoly need not make an enterprise more profitable than other enterpr...

Read More

  British economist Joan Robinson was arguably the only woman born before 1930 who can be considered a great economist. She was in the same league as others who received the Nobel Prize; indeed, many economists expected her to win the prize in 1975. Business Week was so sure of it that it published a ...

Read More

The ballot box produces unanimity without conformity; the marketplace, unanimity without uniformity. —Free to Choose, Milton Friedman and Rose Friedman The search for a method of collective decision-making to solve social problems in a rational manner is the Holy Grail of American libera...

Read More