Topic: Economic Education

Economic Education, Energy, Free Markets

Texas Electricity Prices Are Lower Due to Deregulation

– March 2, 2021

“Contrary to McGinty and Patterson, a close look at the evidence reveals that deregulation and competition have, in fact, reduced electricity prices in Texas. Prices in competitive markets have fallen, while those of noncompetitive utilities have increased. Competition has brought both residential and commercial prices down below the national averages.” ~ Thomas L. Hogan

Classical Liberalism, Economic Education, International

Post-Covid Policy Advice from Ludwig von Mises for Developing Countries

– March 2, 2021

“Mises’ warnings about misguided government policies remain just as relevant if not more so today, as we see in our own time a new push for increased interventionism, expanded welfare statism, and renewed calls for socialist-style centralized planning. As Mises said, if we want, peace, freedom and prosperity, there is no alternative to the free market economy respectful of competitive entrepreneurship and consumer choice.” ~ Richard M. Ebeling

Economic Education, Free Markets

That The Profit Of One Man Is The Gain Of Another

– March 2, 2021

“It is not exploitation; rather, profit is a reward you earn for helping strangers in ways that waste no resources and leave them available for other strangers. Are firms earning ‘exorbitant’ profit selling natural gas and Covid vaccines? I doubt it. If anything, people scrambling to get their hands on artificially-short supplies indicates that they aren’t making enough.” ~ Art Carden

Crisis, Economic Education, Healthcare

There Are Libertarians In A Pandemic, And For Good Reason

– March 1, 2021

“If nothing else, the Covid pandemic will create dissertation topics for generations of Ph.D. students across the humanities and social sciences. Someone looking to write the definitive history of the pandemic could get a head start by considering some of Cochrane’s commentary.” ~ Art Carden

Economic Education, Free Markets, Policy

The Sin Tax Paradox

– March 1, 2021

“It is time to jettison the notion of taxing sin and think hard again about the LBT advocated by Milton Friedman and Henry George, a tax on the unimproved value of land. It’s a tax, and hence bad, but it’s less distortionary than taxing income or sin and it doesn’t have to be high if government would only stick to its core functions.” ~ Robert E. Wright

Economic Education, Education, Fiscal Policy

Forgiving Student Loans: Not The Great Idea You Think It Is

– March 1, 2021

“Like Bryan Caplan, I love learning so much I decided never to leave school. I live for the lightbulb moments students have when they realize what economists mean by ‘at the margin’ or when they start using and applying the concepts we cover in class. Economically speaking, those are private benefits, however, and the case for sticking taxpayers with the bill is shaky indeed.” ~ Art Carden

Economic Education, Education

Dear Students: Here Are Ten Ways To Get Your Financial House In Order

– February 28, 2021

“You might think you’re saving money when you’re not. Unless you really enjoy cooking, you should probably have a meal plan and devote the time and energy you save on shopping and meal prep to studying. Look at the BLS Occupational Outlook Handbook for the job you want, look at the hourly wage, and use that as a proxy for what your time is worth right now.” ~ Art Carden

Classical Liberalism, Economic Education, Free Markets

Looking For Common Sense In A Senseless World? The New Thomas Sowell Documentary Delivers

– February 27, 2021

“Rethinking and questioning our assumptions has long been en vogue in the academy, and if you really listen to what he has to say, few scholars will make you rethink your assumptions like Sowell will. If you’re looking for a one-hour introduction to one of the great minds of the last century, Common Sense in a Senseless World is exactly that.” ~ Art Carden

Books, Economic Education

Should We Rethink Macroeconomics?

– February 26, 2021

“Critiques of mainstream macroeconomics are common among Austrian economists. In a new book, titled Macroeconomics as Systems Theory, Richard Wagner goes further. He starts with Erik Lindahl’s distinction between microeconomics as individual action and macroeconomics as interaction. He then offers a new approach to macroeconomics based on theories of complex systems.” ~ William J. Luther

Cryptocurrency, Currency, Economic Education

The Utter Futility of a Bitcoin Ban

– February 26, 2021

“Throughout history, governments have identified emerging threats and sought to eliminate them through heavy-handed bans, or regulations so stringent that they are effectively bans themselves. But the only thing that is guaranteed through these actions is certainly not the eradication of the ‘undesirable’ product or behavior––it’s the human tendency to find new and innovative workarounds in the face of obstacles.” ~ Peter C. Earle

Central Banking, Economic Education, Inflation

Yes, This Time We’ll Have Inflation, and Here’s Why

– February 25, 2021

“The political forces supportive of anti-growth policies such as trade restrictions, higher minimum wages, perverse energy regulations, and cronyism appear to be on the rise, and they will dampen future growth. But inflation is going to be the big story of the post-pandemic economy. Get ready for an inflationary ride.” ~ James D. Gwartney

Books, Crisis, Economic Education

Unfreezing the Economy After Lockdowns

– February 25, 2021

“In order to emerge with an economy that can produce prosperity for all and not just those who benefited from lockdowns, we need to embrace the ideas of sound economics, innovation-friendly rules, and individual agency. It was the principles of a free society that brought the wonders of modernity into existence, and it’s the same principles that will lead us back.” ~ Ethan Yang