Industry Interviews: Individuals at Work, International Trade and Cross-country Comparisons, Transportation, Travel, Infrastructure: Planes, Trains, and Automobiles
Liberty Classics
A Liberty Classic Book Review of L’Individualisme économique et social. Ses origines, son évolution, ses formes contemporaines (Economic and Social Individualism: Its Origins, Its Evolution, Its Contemporary Forms), by Albert Schatz.1 Albert Schatz (1879-1940) was a professor in the Faculty of Law of the University of Dijon in France. His 1907 book L’Individualisme économique et .. MORE
Book Review, Kling's Corner
This attitude… is based on the belief that “the difficulties and disorders of humankind can be overcome by some large-scale adjustment: it suffices to devise a new arrangement, a new system, and people will be released from their temporary prison into a realm of success.” —Alan Jacobs, How to Think: A Survival Guide for a .. MORE
An Economist Looks at Europe
“There is a lesson to be learnt by all democracies about the clash between politics and the economy… about the continuous and perhaps inevitable interference of politics in the economy. They are two worlds with their own logic, malfunctions and misunderstandings.” The European Union is sailing through choppy waters. Actually, this can be said of .. MORE
Government Growth
Statistical theory and methods
Labor Market
Industry Interviews: Individuals at Work
Austrian Economics
Economics and Culture
Adam Smith
Economic Methods
Economic Methods
Central Planning
econtalk-podcast
Is the perfect really the enemy of the good? Or is it the other way around? In 2008, Duke University economist Michael Munger ran for governor and proposed increasing school choice through vouchers for the state’s poorest counties. But some lovers of liberty argued that it’s better to fight for eliminating public schools instead of .. MORE
econtalk-podcast
Author and economist Noreena Hertz of University College London talks about her book, The Lonely Century, with EconTalk host Russ Roberts. Hertz blames social media and the individualist, pro-capitalism worldviews of leaders like Margaret Thatcher and Ronald Reagan for the rise in loneliness in the developed world. Russ suggests some alternative causes. The result is a lively conversation .. MORE
Austrian Economics
I’ve been setting up my cottage in Canada and relaxing, which is why I haven’t posted this week. I’ll pick up the pace this coming week. The Young Rothbard: an Uncomfortable Neoclassical Economist by Joseph T. Salerno, Mises.org, July 3. 2025. Excerpts: Rothbard took courses with all these eminent economists but was especially influenced by .. MORE
Labor Market
I know of a young man who is mentally handicapped. He aspires for a job as a dishwasher in a restaurant, or stocking shelves in a supermarket, or pushing a broom around pretty much anywhere. He is big and strong, and can easily do any of these types of work, but he is slow. He .. MORE
Explore the lasting legacies and
continued relevance of our classic titles.
Axel Leijonhufvud first suggested to me that reexamining Hayek’s contributions might be worthwhile. From the start, I sensed that Hayek’s theories were misunderstood in important respects. One major reason was the tidal wave of the Keynesian revolution. Contributing to the eager acceptance of Keynes’s message was a desperate desire for a cure for the economic .. MORE
Vera Smith’s The Rationale of Central Banking invites us to reassess our monetary institutions and give reform proposals due consideration. The decades since it first appeared in 1936 have restored its themes to relevance. Government-dominated monetary systems have continued to perform poorly. Other experience, as well as the work of James Buchanan and the Public .. MORE
Henry Hazlitt’s 1946 book, Economics in One Lesson,1 remains relevant for readers to this day. In print since its publication, the book has sold more than a million copies, has been translated into 10 languages, and in 2019 became inspiration for a new book, Economics in Two Lessons: Why Markets Work So Well and Why .. MORE
Book Review of Narrative Economics: How Stories Go Viral and Drive Major Economic Events.1 by Robert J. Shiller. And if you wish to adorn, borrow the metaphor from something better in the same genus, if to denigrate, from something worse. —Aristotle, Rhetoric III, 1404b It is an odd experience to be reading Robert J. Shiller’s .. 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
VIDEO
A five-part short video series on the life and contemporary relevance of Adam Smith. This video series, produced by AdamSmithWorks, can be watch as a full 38-minute feature, or in five thematic, classroom-friendly chunks. To access all, click here. Below are some discussion prompts related to this video: Part 1: The Invisible Hand .. 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
What Is It? The “greenhouse effect” is a complicated process by which the earth is becoming progressively warmer. The earth is bathed in sunlight, some of it reflected back into space and some absorbed. If the absorption is not matched by radiation back into space, the earth will get warmer until the intensity of that .. MORE
A run on a bank occurs when a large number of depositors, fearing that their bank will be unable to repay their deposits in full and on time, simultaneously try to withdraw their funds immediately. This may create a problem because banks keep only a small fraction of deposits on hand in cash; they lend .. MORE
-F. A. Hayek
-David Hume Full Quote >>
-Israel Kirzner Full Quote >>