Tariffs
Book Review, Liberty Classics
A Liberty Classics Book Review of Theory and History: An Interpretation of Social and Economic Evolution, by Ludwig von Mises. 1 How is social cooperation possible without command? The answer to this question requires that we have a conceptual framework (i.e. theory) to interpret social and economic evolution (i.e. history), hence the title of Ludwig .. MORE
Featured Article
Jack Sprat could eat no fat, His wife could eat no lean. And so betwixt them both you see, They licked the platter clean. “At that time, in that context, from my perspective, his quarter was worth at least a dollar to me.” Time. Context. Perspective. All are aspects of the way we value something—or .. MORE
Book Review, Kling's Corner
Since the 1870s, economists have agreed that value is subjective, but, following Alfred Marshall, many argued that the cost side of the equation is determined by objective conditions. Marshall insisted that just as both blades of a scissors cut a piece of paper, so subjective value and objective costs determine price…But Marshall failed to appreciate .. MORE
Free Will and Determinism
Reading List
Book Review
Price Theory
International Development and Third World Poverty
Economic Theory
Economic Theory
Regulation
econtalk-podcast
Are we truly characters with agency, or are we just playing out our programming in the great video game of life? Contrary to those in his field who claim that free will is an illusion, neuroscientist Kevin Mitchell insists that we’re agents who wield our decision-making mechanism for our own purposes. Listen as the author .. MORE
econtalk-podcast
Your mother’s socio-economic status at the time of your birth. Whether your ancestors raised crops or led camels through the desert. The smell of the room you’re in when you’re making a decision–all of these things, says neuroscientist Robert Sapolsky, combine to affect your behavior, as well as everything in between. And if you’re wondering .. MORE
Reading List
Sam works on innovation policy at Progress Ireland, an independent policy think tank in Dublin, and runs a publication called The Fitzwilliam. Most relevant to us, on his personal blog, he writes a popular link roundup; what follows is an abridged version of his Links for November. Blogs and short links 1. Is Google search .. MORE
Economics of Crime
Mercy has long been a hallmark of a just legal system. Judges are often given considerable leeway in determining punishment for a crime (except in cases like mandatory minimums or “three-strike” legislation) for exactly this reason. Extenuating circumstances can result in a lower punishment for some criminals than others who commit certain crimes, and so .. MORE
Explore the lasting legacies and
continued relevance of our classic titles.
Adam Smith’s An Inquiry into the Nature and Causes of the Wealth of Nations was first published in 1776. This edition of Smith’s work is based on Edwin Cannan’s careful 1904 compilation (Methuen and Co., Ltd) of Smith’s fifth edition of the book (1789), the final edition in Smith’s lifetime. Cannan’s preface and introductory remarks .. MORE
Intrigue, murder, posthumous plagiarism, citations by Adam Smith, rediscovery by William Stanley Jevons a century later, and a stunning work on entrepreneurial risk, money, foreign exchange, and banking from the 1700s–what more could one ask for from an 18th century economist? Richard Cantillon offers fascination for historians and economists as much in death as he .. MORE
Slot machines, social media, and potato chips: we humans seem to find a lot of things hard to consume in moderation. Why does “enough” seem so much harder to say than “more?” Listen as Michael Easter discusses these questions and his book, The Scarcity Brain, with EconTalk’s Russ Roberts. Easter shares ways that our awareness .. MORE
For over a decade, Russ Roberts has been covering both sides of the Artificial Intelligence (AI) debate. A recent EconTalk episode is optimistically called “Why AI Is Good for Humans (with Reid Hoffman).” Another booster episode was “Marc Andreessen on Why AI Will Save the World.” In the opposite corner: the infamous doomer Eliezer Yudkowsky .. MORE
VIDEO
The twentieth century witnessed the unparalleled expansion of government power over the lives and livelihoods of individuals. Much of this was the result of two devastating world wars and totalitarian ideologies that directly challenged individual liberty and the free institutions of the open society. Other forms of expansion in the provision of social welfare and .. MORE
VIDEO
Israel Kirzner, Professor Emeritus at NYU, is among the foremost scholars in the continuing development of the Austrian school of economic theory. He has extended our understanding of the workings of a free society, illuminated the role of entrepreneurs in the process of economic discovery, and shed new light on the dynamics of market forces. .. 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.
The Austrian school of economics was founded in 1871 with the publication of Carl Menger’s Principles of Economics. menger, along with william stanley jevons and leon walras, developed the marginalist revolution in economic analysis. Menger dedicated Principles of Economics to his German colleague William Roscher, the leading figure in the German historical school, which dominated economic .. MORE
The prisoners’ dilemma is the best-known game of strategy in social science. It helps us understand what governs the balance between cooperation and competition in business, in politics, and in social settings. In the traditional version of the game, the police have arrested two suspects and are interrogating them in separate rooms. Each can either .. MORE
How Behavioral Economics Differs from Traditional Economics All of economics is meant to be about people’s behavior. So, what is behavioral economics, and how does it differ from the rest of economics? Economics traditionally conceptualizes a world populated by calculating, unemotional maximizers that have been dubbed Homo economicus. The standard economic framework ignores or rules .. MORE
-Ludwig von Mises
-Adam Smith Full Quote >>
-F. A. Hayek