Donald Trump, Elon Musk, ransomeware, Regulation
Book Review, Kling's Corner
“Anglo-Saxon institutions focused on individual property rights and commercial transactions, rather than on preserving land ownership in terms of a family or tribal tradition.” In their new book, America 3.0: Rebooting American Prosperity in the 21st Century—Why America’s Greatest Days Are Yet to Come,1 James C. Bennett and Michael J. Lotus predict America’s future by .. MORE
Article, Teacher's Corner
Several editions of Malthus’s Essay are cited in this and the previous Teacher’s Corner. On line, see the first edition and sixth edition. In the last Teacher’s Corner, we saw how badly Thomas Robert Malthus‘ arguments in An Essay on the Principle of Population (1826, first pub. 1798), have been misunderstood and misrepresented by detractors .. MORE
An Economist Looks at Europe
“It is the artificial creation of nation states that lays the ground for the invasion of personal liberties. Moving borders often leads to the shedding of blood, as Europe discovered to its cost during the 20th century.” This is the year when we commemorate the start of the First Word War, a ghastly conflict in .. MORE
Regulation
Monetary Policy
Economics of Health Care
Entrepreneurship and Innovation
Adam Smith
Money and Inflation
Politics and Economics
Economics of Health Care
Economics of Crime
Economic Education
econtalk-podcast
Why do we buy stuff we don’t need? Maybe for the same reason that some people can’t stand stuff at all. Listen as author Michael Easter speaks with EconTalk’s Russ Roberts about how two seemingly opposed approaches to our possessions–minimalism and hoarding–may stem from the same impulse to cope with uncertainty. They also discuss the downsides of minimalism and how .. MORE
econtalk-extra
There has been a lot to talk about in tech lately. In this episode, host Russ Roberts welcomes back one of our favorite tech-watchers, Arnold Kling, to talk about these latest developments- including Elon Musk’s acquisition of twitter, the implosion of FTX and the scandal-plagued Sam Bankman-Fried, and the release of Chat GPT. We know you’ve .. MORE
Economics of Health Care
A few months ago, I was in a convenience store and was struck by a customer’s conversation. Surveying the rows of chips, candy bars, ice cream, and soft drinks, she said to her friend, “I can literally buy anything I want in here with my EBT card, except for hot things, like the coffee or .. MORE
Politics and Economics
Economic theories are generally symmetrical. If more of X causes more of Y, then less of X causes less of Y. Thus I was confused by a recent story in Bloomberg: Trump has gravitated toward the reciprocal tariff plan as a key part of his push to raise US levies overall. Trump has said it .. MORE
Explore the lasting legacies and
continued relevance of our classic titles.
Thomas Mackay (1849-1912) was a successful English wine merchant who retired early from business so he could devote himself entirely to the study of economic issues such as the Poor Laws, growing state intervention in the economy, and the rise of socialism. Mackay was asked by the individualist and laissez-faire lobby group, the Liberty and .. MORE
IT GIVES me great satisfaction to see this book, handsomely printed by a distinguished publishing house, appear in its third revised edition. Two terminological remarks may be in order. First, I employ the term “liberal” in the sense attached to it everywhere in the nineteenth century and still today in the countries of continental Europe. .. MORE
In my previous column, I did my best to gauge the extent of the damage done to the climate as a result of human action, as well as the likelihood of an imminent climatic catastrophe. In this piece, I intend to explore whether a spontaneous correction of impending climate tragedy is possible through the piecemeal .. MORE
Review of Classical Liberalism and the Industrial Working Class, by Alberto Alberto Mingardi.1 Thomas Hodgskin (12 December 1787-21 August 1869) was an English socialist writer on political economy, critic of capitalism, and defender of free trade and early trade unions. In the late 19th and early 20th centuries, the term socialist included any opponent of .. MORE
VIDEO
A five-part short video series on the life and contemporary relevance of Adam Smith. This video series, produced by AdamSmithWorks, can be watch as a full 38-minute feature, or in five thematic, classroom-friendly chunks. To access all, click here. Below are some discussion prompts related to this video: Part 1: The Invisible Hand .. MORE
VIDEO
On April 10, 2013, Liberty Fund and Butler University sponsored a symposium, “Capitalism, Government, and the Good Society.” The evening began with solo presentations by the three participants–Michael Munger of Duke University, Robert Skidelsky of the University of Warwick, and Richard Epstein of New York University. (Travel complications forced the fourth invited participant, James Galbraith .. MORE
Econlib Videos
Conversations with some of the most original thinkers of our time
The Reading Lists by Topic pages contain some suggested readings organized by topic, including materials available on Econlib. Brief reviews or descriptions are included for many items.
Supplementary materials for popular college textbooks used in courses in the Principles of Economics, Microeconomics, Price Theory, and Macroeconomics are suggested by topic.
These free resources are appropriate for teachers of high school and AP economics, social studies, and history classes. They are also appropriate for interested students, home schoolers, and newcomers to the topic of economics.
Gross output (GO) is a relatively new macroeconomic statistic that measures total economic activity. Gross domestic product (GDP)—the other major measure of economic activity—accounts only for final goods and services. However, GO’s scope includes both final output as well as intermediate inputs at all earlier stages of production. Therefore, GO is a much more comprehensive measure .. MORE
“Competitiveness,” particularly with reference to an entire economy, is hard to define. Indeed, competitiveness, like love or democracy, actually has several meanings. And the question “Is America competitive?” has at least three interpretations: How well is the United States performing compared to other countries? How well has America performed in international trade? Are we doing .. MORE
National income accounts (NIAs) are fundamental aggregate statistics in macroeconomic analysis. The ground-breaking development of national income and systems of NIAs was one of the most far-reaching innovations in applied economics in the early twentieth century. NIAs provide a quantitative basis for choosing and assessing economic policies as well as making possible quantitative macroeconomic modeling .. MORE
-David Hume
-John Stuart Mill Full Quote >>
-Israel Kirzner Full Quote >>