Topic: Economic Education

Central Banking, Economic Education, Free Markets

A Simple Guide for Aggregate Demand Management

– July 31, 2022

“We’ve advanced little beyond the classical-liberal prescriptions of free markets, sound money, and peace. ‘Keep it simple, stupid,’ is good enough for government work.” ~ Alexander William Salter

Economic Education, Economic History, Government

The Strange Definition of Recession Is the Best We Have

– July 29, 2022

“The reality is that the reason many use the flawed rule is because all other alternatives seem to be worse. As such, politicians and pundits who try to downplay talks of a recession by mentioning the flawed rule may be politically, and not economically inclined.” ~ Vincent Geloso

Crisis, Economic Education, Government

From Republic to Democracy to Kakistocracy

– July 25, 2022

“So how do we get from a republic to a democracy, and how does democracy become a kakistocracy during a period when democracy is so highly praised?” ~ Gary M. Galles

Economic Education, Economic History, Government, Monetary Policy

Not so Modern Monetary Theory

– July 24, 2022

“If the issue of an unbacked or insufficiently-backed currency exceeds the amount needed to pay the tax, and even exceeds the amount in demand as a medium of exchange, the value of that currency will fall (or, there will be inflation).” ~ Gary M. Pecquet & Clifford F. Thies

Economic Education, Free Markets, Socialism

Planning Fails Because Rules Rule

– July 23, 2022

“What, then, are organizational leaders to do? Think like classical liberals and align incentives carefully! Give workers autonomy by allowing them to make decisions where they have superior information.” ~ Robert E. Wright

Economic Education, Free Markets, Government

Why Job Turnover Is So High for Gen Z and Millennials

– July 23, 2022

“As stated by Thomas Sowell, in Wealth, Poverty, and Politics, ‘Transferring the fruits of human capital is not as fundamental as spreading the human capital itself.'” ~ Kimberlee Josephson

Economic Education, Free Markets, Government

On the Negative Consequences of Price Floors

– July 21, 2022

“As with price ceilings, if more people understood the full economic consequences of price floors, public support for the especially pernicious piece of legislation called ‘the minimum wage’ would plummet.” ~ Donald J. Boudreaux

Economic Education, Economic Theory, Free Markets

Micro-Microeconomics

– July 20, 2022

“A renewed examination of the most basic economics—the theory of the good—might yet generate a revolutionary micro-microeconomics.” ~ Caleb S. Fuller

Economic Education, Government, History

Association, Causation, Expectations, and Caveat Civis

– July 18, 2022

“We must recognize that in our current circumstances, honesty requires any serious answer (at least part) to involve ‘it depends,’ not the plethora of ‘trust me; follow my plan, because I know what to do’ from beltway snake oil salesmen.” ~ Gary M. Galles

Economic Education, Free Markets, Technology

Will Google Ever Lose Its Monopoly?

– July 18, 2022

“When Google fades into the history books, it won’t likely be due to actions taken in Washington. It will be due to the foresighted behavior of someone somewhere digitally tinkering in a garage. You know—the way Google did it.” ~ Caleb S. Fuller

Classical Liberalism, Economic Education, Free Markets, Socialism

Parity Without Socialism: Economic Freedom and Opportunity for Women

– July 14, 2022

“There is a simple policy solution for expanding opportunity for women and giving voice to them: increased economic freedom. Markets solve, as we discovered in undergraduate microeconomics… and without the unintended consequences of illiberal intervention.” ~ Megan V. Teague & Nikolai G. Wenzel

Economic Education, Economic Theory, Inflation

Inflation and Relative Prices

– July 12, 2022

“Although inflation is often classified as a macroeconomic topic, it is clear that a firm understanding of price theory is necessary to work out all of the costs associated with inflation.” ~ Joshua R. Hendrickson