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February 2020 ISSUE

Article

Raj Chetty and the New Scientism: Big Data, Economic Engineering, and the Failure of Economic Education

By Nikolai Wenzel

Reveries of a Solitary Walker I confess that I am an atypical tourist. When last in Paris, I eschewed the charred Notre Dame cathedral and the urban oasis of the Luxembourg Gardens. Instead, I headed to the Citéco1 Museum of the Economy. The museum is quite well d...
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Article

Why Did Armen Alchian Have to Teach Economists About Property Rights?

By Peter J. Boettke

Armen Alchian (1914-2013) was an economist's economist. How his mind worked and why it so impressed his peers is illustrated perfectly by an episode from his time at the Rand Corporation in the 1950s as the Cold War was ramping up. Both the United States and Sovie...
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Book Review

Are Economists Basically Immoral? Lessons from Paul Heyne

By Russ McCullough

Questions are not scarce in economics, and the title of this book poses a whopper: "Are Economists Basically Immoral?"1 Spoiler alert, the answer is "no". However, it is easy to see how economists get a bad rap when the public thinks economics is all about gr...
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Book Review

He Tells Us It’s the Institutions

By Arnold Kling

[I]nstitutions should be formative... they should act as links between the personal and the social. What we need, then, is a recommitment to such an understanding of institutions. Our challenge is less to calm the forces that are pelting our society than to reinfo...
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