complexmaze

Uncertainty Index on the Rise

– June 18, 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.

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teachingmission

In Defense of the Teaching Mission

– June 16, 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.

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martinfeldstein

Martin Feldstein Is Dead, Long Live His Critique of Social Security

– June 15, 2019

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

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hiddencost

The Hidden Costs of a $15 Per Hour Minimum Wage

– June 11, 2019

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

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blindleadingblind

Beware the Candidate with a Plan

– June 7, 2019

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

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passengers

Democracy and the Toxic Metastasizing of a Sound Idea

– June 4, 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.

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wineselection

What Preferences Do You Want?

– June 4, 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.

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hikerm

Should Hikers Pay for Their Own Rescue?

– May 28, 2019

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

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napolianstatue

Graduates, Be Skeptical of Those in Power

– May 25, 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.

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speringcleaning

Spring Cleaning for the Regulatory State

– May 23, 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.

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gasprices

Is Big Oil Really Manipulating Market Prices?

– May 20, 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.

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marketsandlove

The Love the Market Gives

– May 17, 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.

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