By Arnold Kling

... the problems of boys and men are structural in nature... the educational system is structured in ways that put them at a disadvantage. Men are struggling in the labor market because of an economic shift away from traditionally male jobs. And fathers are dislocated because the cultural role of family provider has be...

By Michael Munger

Division of labor combines specialization and the partition of a complex production task into several, or many, sub-tasks. Its importance in economics lies in the fact that a given number of workers can produce far more output using division of labor compared to the same number of workers each working alone. Interestin...

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Moral hazard is an important and badly named idea in the economics toolkit. Important, because it identifies how certain arrangements can encourage inefficient or wasteful behavior. Badly named, because anyone hearing it for the first time would have no idea what it means. Luckily, it’s easy to understand. Imagine...

By Kwok Ping Tsang

A book review of The Wealth of Refugees: How Displaced People Can Build Economies by Alexander Betts (Oxford University Press, 2021)1 A key idea in Adam Smith's The Wealth of Nations is that people have a persistent and ever-present drive to "better their own conditions". Leave people alone, and prosperity and...

By Geoffrey Brennan and James M. Buchanan

By Thomas Gale Moore

Regulation The federal government has been regulating prices and competition in interstate transportation ever since Congress created the Interstate Commerce Commission (ICC) to oversee the railroad industry in 1887. Truckers were brought under the control of the ICC in 1935 after persistent lobbying by state regulato...

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 ...

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Israel Kirzner is a prominent member of the Austrian School of economics. His major contribution is his work on the meaning and importance of entrepreneurship. Kirzner’s view is that mainstream neo-classical economics omits the role of the entrepreneur. The standard neoclassical models of markets, whether perf...

Dani Rodrik of Harvard University talks about neoliberalism with EconTalk host Russ Roberts. Rodrik argues that a dogmatic embrace of markets has increased inequality and limited who benefits from economic growth. He argues for a more interventionist approach to the economy with the goal of better-paying jobs and more ...