Economic Education

Monday, July 8th, 2019

The nation does not belong to anyone in the same way that a home belongs to its owner.

Sunday, July 7th, 2019

Tanglewood is a model for anyone concerned about the future of classical music to study and emulate.

Friday, July 5th, 2019

The focus on social justice, even ahead of helping the desperate, seems to be something very deep in the human psyche. Still, our reason should be able to overcome it.

Thursday, July 4th, 2019

What lame employees lack is a basic economic understanding of labor, plus a work ethic. Gaining both is not just about the sweat of your brow and saving your soul. It is really about your own individual interest.

Sunday, June 30th, 2019

As politicians contemplate (and effectuate) policies moving us away from capitalism towards more socialism, perhaps it’s no surprise that we also see pervasive, unabashed freebie promising.

Wednesday, June 19th, 2019

There is a problem in public affairs. If there is a state, with the capacity to do good, the temptation to do something is irresistible.

Tuesday, June 18th, 2019

The Trump administration has imposed a rule that two existing regulations must be removed for every new regulation imposed on the economy. Unfortunately, the two-for-one rule does not apply to the trade policies consuming much of the administration’s attention.

Sunday, June 16th, 2019

Don't become cynical; embrace the challenge; and as teachers of a subtle scientific discipline it is vital to remember that the students will remember what is emphasized in the class, so emphasize throughout the lectures the enduring principles that are embodied in the economic way of thinking.

Saturday, June 15th, 2019

Feldstein taught his students and readers to think about economic policy decisions in rigorous ways, backed by hard numbers.

Tuesday, June 11th, 2019

There are a lot of ways firms and workers can adjust to higher minimum wages without anyone actually losing his or her job.

Friday, June 7th, 2019

Without realizing it, and as brilliant as they may be, the candidates—like all of us—are still profoundly ignorant.

Tuesday, June 4th, 2019

Because the American government is democratically elected, there’s a widespread presumption that the actions of this government are, as a rule, the best ones possible. Yet this presumption is mistaken.

Tuesday, June 4th, 2019

What preferences do you want? In traditional neoclassical economics, that’s a nonsense question, because preferences are taken as idiosyncratic, fixed, and exogenous. Of course, that’s only a modeling assumption; no one really claims that’s descriptively accurate.

Tuesday, May 28th, 2019

The danger that individuals often put themselves in comes at a public cost.

Saturday, May 25th, 2019

The truth is that even the best-intentioned government officials do not — indeed, cannot possibly — have the knowledge necessary to deliver on any grand promises.

Thursday, May 23rd, 2019

Statutes and regulations continue to accumulate, layer by layer, until they suffocate not only economic opportunity, but also the effective administration of government itself.

Monday, May 20th, 2019

Market manipulation would be so much easier if you didn’t declare what your price is relative to the station down the street. And yet, of all the things we buy on a regular basis, the price at the pump is the most visible.

Friday, May 17th, 2019

Every unforced decision to trade represents a spark of insight, a hope for a better future, and the instantiation of a human relationship that affirms the dignity of everyone involved. Sometimes that relationship is personal; it is even more awesome to consider the enormously complex impersonal relationships that make up the vast global networks of exchange that make our lives wonderful.

Thursday, May 16th, 2019

The problem is that we have discarded importance in favor of interesting.

Wednesday, May 15th, 2019

If socialism can’t be made to work in such a small and simple case like this, why would one think that all these problems would go away once you expand the idea of common ownership to the whole of society and all existing goods?