Topic: Economic Education

Paul Heyne and the Trouble with Economists

– December 23, 2021

“Economics is often a morality-free zone, and Paul Heyne shows why this is a mistake. In many ways, Heyne can be read as a plea to return to the oft-forgotten first half of Adam Smith.” ~ Nikolai G. Wenzel

Crisis, Economic Education, Financial Markets

Talk by AIER Research Faculty Peter C. Earle at the 26th Annual “Fields on Wheels” Conference

– December 23, 2021

“Now, and not when the Pi, Rho, Sigma, or Tau variants come along, is the time for social scientists to advise: ameliorating the snags and adverse consequences of policy when and where we can.” ~ Peter C. Earle

Books, Economic Education, Free Trade, History

The Federal Republic vs. Crony Capitalism

– December 22, 2021

“Taylor believed the economic liberty and virtue of the independent farmer flourished only in a decentralized, republican, and constitutional order. Congress’s rhetoric of the glories gained from governmental intervention threatened that order.” ~ Aaron N. Coleman

Economic Education, Free Markets, History

Adam Smith’s Economic Case against Imperialism

– December 21, 2021

“Adam Smith predicted that the nation that would arise from those colonies would become the most powerful nation in the world. On top of all this, Smith made a terse but passionate defense of economic freedom.” ~ David R. Henderson

Economic Education, Free Markets, Government

Why This Year’s Nobel Prize in Economics Changes Nothing on the Minimum Wage Debate

– December 21, 2021

“The two Card and Krueger studies have major issues, and they do not support the narrative in favor of minimum wage laws. Yet, as expected, this has not stopped many from using this paper in the classroom for teaching the effects of minimum wages on unemployment.” ~ Klajdi Bregu

Economic Education, Economic Theory, Free Markets

Nirvana and the Theory of the Firm

– December 20, 2021

“Over and over, people, including many economists, have misunderstood issues such as these when evaluating real world firms through the combination of simplifying assumptions that make real issues disappear and a failure to apply the self-interest test.” ~ Gary M. Galles

Cryptocurrency, Economic Education, Financial Markets

On Price and Output Volatility: How Bad is Bitcoin’s Flaw?

– December 20, 2021

“The working arrangements of a new generation of freelancing nomads are keen on and capable of handling the discrepancies between many currencies’ relative purchasing power, crypto or old-school.” ~ Joakim Book

Authoritarianism, Economic Education, Government, Philosophy

Are We Near the End of the Road to Serfdom? Part 2

– December 19, 2021

“Hayek reminds us that classical liberals are the real progressives whose unreserved allegiance is to ‘the guiding principle that a policy of freedom for the individual is the only truly progressive policy.'” ~ Barry Brownstein

Authoritarianism, Economic Education, Government, Philosophy

Are We Near the End of the Road to Serfdom? Part 1

– December 18, 2021

“As you go about your day, strive to see the common humanity in all. With liberty, everyone is a potential friend. Today, make no friend an enemy.” ~ Barry Brownstein

Economic Education, Government, Inflation

Why the Casual Attitude toward Inflation?

– December 18, 2021

“The threat of inflation has been apparent for some time now, but those who have the power to do something about it seem to have the attitude that it will go away on its own.” ~ Randall G. Holcombe

Economic Education, Free Markets, Inflation

Supply and Demand Is Not Just for Microeconomics

– December 16, 2021

“The usefulness of supply and demand is most obvious in the case of microeconomics, which focuses on households and firms. But it’s just as handy for macroeconomics in studying economy-wide phenomena like growth and business cycles.” ~ Alexander William Salter

Crisis, Economic Education, Financial Markets, Government

Covid-19 Economic Zombification

– December 15, 2021

“Markets are now extremely complacent. Zombie companies, which were already a problem in 2019, have not been killed off; indeed they have multiplied. The zombie apocalypse could be closer than we imagine.” ~ Daniel Fernández