Thank you, AIER
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.
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Using Dichotomy to Teach Monetary Theory
Monetary theory is beautifully simple. The fundamental principle of economization underlies decisions to hold money or goods and what form of money to hold.
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Creative Destruction: The Proof Is in the Pudding
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.
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To Lift Your Spirits, Fill Your Head with Economics
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.
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The Real Walkout Issue: Compulsory Schooling
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.
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Why Ketchup in Mexico Tastes So Good
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.
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The Modern Origins of Economic Nationalism
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.
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How IKEA Changed Our Values and Lives
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.
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AIER’s Innovative Work Is Featured in a New Book
Our founder, Col. E.C. Harwood, would be proud of AIER for promoting Jon Dewey’s learning-by-doing approach and disseminating this work around the world through contributing to a new book.
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Applied Economic Research Class at AIER
In keeping with Harwood’s practice of teaching the new generation of students to conduct high-quality applied economic research, AIER is setting a national example in establishing collaborative partnerships between universities and practitioners.
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Summer Fellowship Alumna Will Host Teach-the-Teachers Workshop
AIER continues to pursue the educational ideas of our founder, Col. E.C. Harwood, who believed that educating the educators advances the institute’s mission.
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AIER’s Teach-the-Teachers Alumna Presents at a National Stage
At a recent annual conference of the Council for Economic Education, a lesson on unemployment was presented by Vicki L. Fuhrhop, a teacher at Collinsville High School in Collinsville, Ill, who is an alumna from the 2016 Chicago class. She joins the roster of teachers who implemented lesson ideas from our workshops in their classrooms.
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