Modeling and Its Failures Issue

Founded in 1933, The American Institute for Economic Research (AIER) educates people on the value of personal freedom, free enterprise, property rights, limited government, and sound money. AIER’s ongoing scientific research demonstrates the importance of these principles in advancing peace, prosperity, and human progress.

Alexander William Salter is the Georgie G. Snyder Associate Professor of Economics in the Rawls College of Business and the Comparative Economics Research Fellow with the Free Market Institute, both at Texas Tech University. He is a co-author of Money and the Rule of Law: Generality and Predictability in Monetary Institutions, published by Cambridge University Press. In addition to his numerous scholarly articles, he has published nearly 300 opinion pieces in leading national outlets such as the Wall Street Journal, National Review, Fox News Opinion, and The Hill.

Salter earned his M.A. and Ph.D. in Economics at George Mason University and his B.A. in Economics at Occidental College. He was an AIER Summer Fellowship Program participant in 2011.

Jeffrey A. Tucker served as Editorial Director for the American Institute for Economic Research from 2017 to 2021.

Michael Munger is a Professor of Political Science, Economics, and Public Policy at Duke University and Senior Fellow of the American Institute for Economic Research.

His degrees are from Davidson College, Washingon University in St. Louis, and Washington University.

Munger’s research interests include regulation, political institutions, and political economy.

Phillip W. Magness works at the Independent Institute. He was formerly the Senior Research Faculty and F.A. Hayek Chair in Economics and Economic History at the American Institute for Economic Research. He holds a PhD and MPP from George Mason University’s School of Public Policy, and a BA from the University of St. Thomas (Houston). Prior to joining AIER, Dr. Magness spent over a decade teaching public policy, economics, and international trade at institutions including American University, George Mason University, and Berry College. Magness’s work encompasses the economic history of the United States and Atlantic world, with specializations in the economic dimensions of slavery and racial discrimination, the history of taxation, and measurements of economic inequality over time. He also maintains an active research interest in higher education policy and the history of economic thought. His work has appeared in scholarly outlets including the Journal of Political Economy, the Economic Journal, Economic Inquiry, and the Journal of Business Ethics. In addition to his scholarship, Magness’s popular writings have appeared in numerous venues including the Wall Street Journal, the New York Times, Newsweek, Politico, Reason, National Review, and the Chronicle of Higher Education.

John Tamny, research fellow of AIER, is editor of RealClearMarkets.

His book on current ideological trends is: They Are Both Wrong (AIER, 2019)

David Hart, Consulting Scholar of the American Institute for Economic Research, was born and raised in Sydney, Australia and has degrees from Stanford University and King’s College, Cambridge. He taught history at the University of Adelaide from 1986-2001 and was the Director of the Online Library of Liberty Project at Liberty Fund in Indianapolis from 2001-2019. His research interests include the history of classical liberal thought in general, and the French classical liberal tradition in particular. He is the Academic Editor of Liberty Fund’s translation of the Collected Works of Frédéric Bastiat. Recent publications include a chapter on “The Paris School of Liberal Political Economy, 1803-1853” for the Cambridge History of French Thought (2019) and the anthology Social Class and State Power (Palgrave, 2018) on classical liberal class analysis. In his spare time, he has also written a screenplay for a film on the activities of Frédéric Bastiat during the 1848 Revolution in Paris.

Jon Murphy an Assistant Professor of Economics at Nicholls State University and Associate Fellow at the Institute for an Entrepreneurial Society. He holds a Ph.D. in Economics from George Mason University.  Dr. Murphy has published in information economics, history of thought, and pedagogy research in academic journals such as The Journal of Economic Behavior and Organization and The Journal of Institutional Economics.