The Collapse of Deposit Insurance—and the Case for Abolition

– July 24, 2018

Economic Education Bulletin Vol. XXXIII, no. 9 | September, 1993 by Richard Salsman

READ MORE
whitehouse

Government Is Not What Makes a Country Great

– July 20, 2018

Since November 2016 several Duke University colleagues have come into my office, closed the door, and said, “Okay. You were right. Are you happy now?”

READ MORE

The Scientific Breakthrough of the Twentieth Century

– July 17, 2018

Article published in The American Journal of Economics and Sociology, Vol. 17, No. 1, October, 1957.

READ MORE
storytelling

Economists as Storytellers

– June 24, 2018

In their admirable quest to be scientific, most economists not-so-admirably mistake what looks like science for actual science.

READ MORE
oldcotswold

Thank you, AIER

– May 20, 2018

Two golden summers at the American Institute for Economic Research gently reshaped my philosophical outlook and personal life forever—much for the better. My 1981 and 1982 summer fellowships helped instill a deep appreciation for the intensely personal nature of economic markets, and they steered me toward a long and happy marriage.  

READ MORE
Money Market

Using Dichotomy to Teach Monetary Theory

– May 17, 2018

Monetary theory is beautifully simple. The fundamental principle of economization underlies decisions to hold money or goods and what form of money to hold.

READ MORE
Creative Destruction

Creative Destruction: The Proof Is in the Pudding

– May 3, 2018

More people than ever are enjoying both travel and accommodation thanks to Uber and Airbnb. It’s a mistake to think that the solution is to protect incumbent businesses from this creative disruption.

READ MORE
joy

To Lift Your Spirits, Fill Your Head with Economics

– March 29, 2018

Economics is lovely because it unlocks the great mysteries of the material world: why we thrive, why we experience progress, how we can build prosperity and peace, the path toward making the best out of our limited time in this world, and leave something better for the next generation. Knowing and contemplating these things is indeed a source of immense joy.

READ MORE
schoolwalkouts

The Real Walkout Issue: Compulsory Schooling

– March 17, 2018

The kids are being forced into institutions that have proven themselves unable to protect students against violence, and also face no real accountability when they fail to do so. Force is the watchword even without the direct threat of violence from guns and bombs. Why does nearly everyone think this is normal? Because compulsory schooling laws have been part of the living reality of every single living American.

READ MORE
heinz

Why Ketchup in Mexico Tastes So Good

– February 23, 2018

What is the source of this fixation on putting some variation of corn in everything we make and eat? From an economics perspective, it stems from two main sources.

READ MORE
bismark

The Modern Origins of Economic Nationalism

– January 31, 2018

Nationalism emerged in the 19th century as an alternative to economic liberalism of the classical variety. Liberalism was embodied in the works of Adam Smith, J.B. Say, Thomas Jefferson, and A.RJ. Turgot. Smith summed up the creed: “What is prudence in the conduct of every private family can scarce be folly in that of a great kingdom.” In other words, there is no conflict of interests between the individual and the community, the community and the nation, and the nation and the rest of the world. That core ideal was on the ascendancy throughout the development from the end of the 18th century for another fifty years following.

READ MORE
ikea

How IKEA Changed Our Values and Lives

– January 29, 2018

Ingvar Kamprad, the founder of IKEA, has died at the age of 91. He is a remarkable example of how enterprise and visionary entrepreneurship can have such a profound effect on the world. Even now, walking into an IKEA store for the first time is a riveting experience. It invites you to reassess your life priorities, how you live, how you spend your money, what you seek to do in life. It certainly did that to me, and I’ve never let go of what I learned. In some way, as I think about it, Mr. Kamprad, though I never met him, has been my teacher for a large swath of my adult life. Millions of others can say the same.

READ MORE