Philosophy and Methodology, Psychology, the Brain, and the Mind, Technology and Information
Book Review, Liberty Classics
A Liberty Classic Book Review of Competition and Entrepreneurship by Israel Kirzner.1 The start of the 1970s was not the best time for the Austrian school of economics. Ludwig von Mises was past his productive years and would pass away in 1973. F. A. Hayek was still active but had turned much of his attention .. MORE
Article
In the late 1960s, the ideal of a society with free markets was definitively out of favor with the public. The Great War ended the “century of liberalism” (1815-1914), and the Great Depression pressed governments of all political stripes to intervene in the economy and to disengage from free trade. The Second World War then .. MORE
Book Review, Kling's Corner
Under a gold standard, government bonds are nearly free of inflation risk but not of default risk. Under a fiat standard, the reverse is true. ——White, Lawrence H. Better Money: Gold Fiat or Bitcoin? (pp. 214-215).1 In his new book, Lawrence H. White compares three possible monetary systems: a gold standard, a fiat money standard, .. MORE
Economics of Health Care
Macroeconomics
Philosophy and Methodology
Regulation
Economic History
Monetary Policy
Business Economics
Politics and Economics
Books: Reviews and Suggested Readings
econtalk-podcast
In honor of EconTalk’s 1,000th episode, host Russ Roberts reflects on his long, strange journey from pioneer of the podcast format to weekly interviewer of leading economists, authors, and thinkers. Hear him answer your–and Chat GPT’s–questions about why he got started, how he preps, and how he picks guests. He also explains why debate gave .. MORE
econtalk-podcast
What’s so bad about rising inflation? Why should we aim for a rate of 2 percent? Why is it a problem if interest rates are too low–and what do we mean by inflation, anyway? Stanford University’s John Taylor talks with EconTalk host Russ Roberts about these questions, the Taylor Rule, why inflation is rising, and what .. MORE
Monetary Policy
In my June 10 post on the penny, I wrote: The U.S. government makes a pretty penny (pun intended) on seigniorage. It’s not as much as it used to be because more and more people use credit cards and even cryptocurrency to buy goods and services. Still, it’s a good amount. The biggest gain from .. MORE
Business Economics
As I write this piece, I’m about to board an airplane. I’m in Buenos Aires, Argentina, but in just over 13 hours I’ll be in Zurich, Switzerland. In the 19th century, not even the wealthiest imaginable person would have been able to travel this quickly. Indeed, the entire wealth of the world could not have .. MORE
Explore the lasting legacies and
continued relevance of our classic titles.
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
There are few things of which I have occasion to advertize the reader, before he enters upon the perusal of the following work.My object has been to compose a school-book of Political Economy, to detach the essential principles of the science from all extraneous topics, to state the propositions clearly and in their logical order, .. MORE
An Essay and Book Review of The Essential UCLA School of Economics, by David R. Henderson and Steven Globerman.1 When you think about dinosaurs—which you should; dinosaurs are awesome—you always end up with the same two questions: where did they come from and where did they go? Yes, all life evolves through a process that .. MORE
A Liberty Classic Book Review of The Reason of Rules: Constitutional Political Economy, by Geoffrey Brennan and James M. Buchanan.1 Geoffrey Brennan and James Buchanan’s The Reason of Rules is remarkable. It is an important book, and the questions that the authors wrestle with are massive. When so much academic work feels as though it .. 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.
National industrial policy is a rubric for a broad range of proposed economic reforms that emerged as a unified political program in the early eighties. Had they been passed, these reforms would have given government officials additional authority, as well as the necessary fiscal and regulatory powers, to directly alter the country’s industrial structure. Proponents .. MORE
Until recently, economists who analyzed sports focused on such things as the antitrust exemption, the alleged cartel behavior of sports leagues, and the player draft (see sports). Sportometrics is different. It is the application of economic theories to the behavior of athletes to explain what they do and to see if what they do can .. MORE
The price of a share of stock, like that of any other financial asset, equals the present value of the sum of the expected dividends or other cash payments to the shareholders, where future payments are discounted by the interest rate and risks involved. Most of the cash payments to stockholders arise from dividends, which .. MORE
-Joseph Alois Schumpeter
-Ludwig von Mises Full Quote >>
-Ludwig von Mises Full Quote >>