Sam's Links
Article
Every time a large event comes to a city, there’s a flurry of excitement over the gigantic economic impact that these events are supposed to generate. Examples abound, from the hundreds of millions of dollars of impact predicted for a host city of a political convention or Super Bowl, to the billions of dollars of .. MORE
An Economist Looks at Europe
At the 2017 Regional meeting of the Mont Pelerin Society in Seoul I gave a short paper where I turned a critical eye on some of the policies applied by Asian, African, and Latin-American “Tigers.” It was invidious of me to disagree with measures that in the opinion of many have led to fast growth .. MORE
Article
The year 2022 marks the 75th anniversary of the founding meeting of the Mont Pèlerin Society organized by F. A. Hayek. What is particularly interesting is the fact that—as highlighted in the transcripts of that meeting recently published by Bruce Caldwell as Mont Pèlerin 1947 (2022)—the role of public policy in regulating market power and .. MORE
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Economic Education
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Economic Theory
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econtalk-podcast
Author and journalist Michael Brendan Dougherty talks about his book My Father Left Me Ireland with EconTalk host Russ Roberts. Dougherty talks about the role of cultural and national roots in our lives and the challenges of cultural freedom in America. What makes us feel part of something? Do you feel American or just someone .. MORE
econtalk-podcast
Tolkien read it as a tale about mortality. The poet David Whyte said it was a metaphor for the psychological demons deep in our minds. And that, insists the cartoonist and writer Zach Weinersmith, is precisely Beowulf’s appeal: Its richness opens the door to endless interpretation. Listen as the author of Bea Wolf, a graphic .. MORE
Economic Theory
“Expert failure” is clearly having a moment. Pollsters, Wall Street analysts, tech futurists… all are facing demands to reckon with getting it wrong. Economics, though, seems to be getting special attention. Lately, this has metastasized into Orweillian skepticism of government data itself. It’s one thing to argue that economists have misread numbers. It’s quite another .. MORE
Economic Education
This is the latest in our series of posts in our series on price theory problems with Professor Bryan Cutsinger. You can see all of Cutsinger’s problems and solutions by subscribing to his EconLog RSS feed. Share your proposed solutions in the comments. Professor Cutsinger will be present in the comments for the next couple of .. MORE
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You face a choice. You must now decide whether to read this Preface, to read something else, to think silent thoughts, or perhaps to write a bit for yourself. The value that you place on the most attractive of these several alternatives is the cost that you must pay if you choose to read this .. MORE
Arthur Young (1741-1820) was an 18th century English writer who is best known for the detailed accounts he published of his “travels” in England, Wales, Ireland and France on the eve of the revolution. After he inherited his father’s family estate in 1759 he began experimenting with agricultural improvements in order to maximise output. Although .. MORE
A Book Review of The Great Reversal: How America Gave Up on Free Markets, by Thomas Philippon.1 The Great Reversal defends a provocative and surprising thesis: the United States has given up on free markets while Europe has embraced them. As a result, Europeans pay less and get more in a lot of industries, like .. MORE
A Book Review of Everything I Ever Needed to Know About Economics I Learned from Online Dating, by Paul Oyer.1 Match.com, eHarmony, and OkCupid, it turns out, are no different from eBay or Monster.com. On all these sites, people come together trying to find matches. —Paul Oyer, Everything I Ever Needed to Know About .. MORE
VIDEO
Svetozar “Steve” Pejovich, one of the most dynamic and insightful theorists writing on property rights, reflects on his experience in economics. With characteristic sagacity and humor, he demonstrates the power that empirical cases can bring to bear on theoretical problems. Born in Belgrade, Pejovich is Professor Emeritus at Texas A&M University, where he taught for .. MORE
VIDEO
A professor at the Graduate School of Business at the University of Chicago in the 1960s and a primary figure in Chicago School Economics and in the field of Law and Economics, Harold Demsetz has contributed original research on the theory of the firm, regulation in markets, industrial organization, antitrust policy, transaction costs, externalities, and .. 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
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 regulators, the ICC itself, and especially, the railroads, which had .. MORE
In recent years, taxation has been one of the most prominent and controversial topics in economic policy. Taxation has been a principal issue in every presidential election since 1980—with a large tax cut as a winning issue in 1980, a pledge of “Read my lips: no new taxes” in the 1988 campaign, and a statement .. MORE
-Benjamin A. Rogge and Pierre F. Goodrich
-James M. Buchanan
-Frederic Bastiat Full Quote >>