Topic: Economic Education

The Global Market Miracle of the 99-cent Pineapple

“When past centuries’ most-iconic luxuries become commonplace and affordable, we always have specialization and market innovations to thank.” ~ Laura Williams

It Depends—Is This an Economics Exam or the Real World?

“Because of how important it is to recognize the initial questions which must be asked to move toward large numbers of real-world judgments, I have modified my exams to force students to confront those issues on occasion.” ~ Gary M. Galles

Some Factual and Economic Errors of “Common Good Capitalism”

“Arguments for ‘common good capitalism’ are chock-a-block both with factual errors and faulty economic reasoning of a sort not found in arguments for true capitalism.” ~ Donald J. Boudreaux

Yes, the Fed Is a Failure

“DeSantis is right to call out the Fed. And honesty compels one to acknowledge the Fed’s failures, even if those failures are pointed out by politicians of whom one disapproves. Anything less subjects responsible policy analysis to rank partisanship.” ~ Alexander William Salter

Focusing Exclusively on “Creating Jobs” Can Do More Harm Than Good

“Public policy should seek to free up entrepreneurs to invest in improving productivity, and be sure not to create incentives that discourage the accumulation of productivity-enhancing capital.” ~ Brian Balfour

Protectionism Benefits Some at the Expense of Others

“We shouldn’t want our lawmakers to play favorites between domestic interests, and people should be more skeptical when policymakers dip into protectionist rhetoric.” ~ James M. Hohman

Why Did The Redcoats Wear Red Coats?

“Students are often amazed and delighted by what the economic way of thinking can help us understand, and it is why instructors must look for every opportunity to instill the wonder of economics in their students.” ~ Anthony Gill

Manners, the Coase Theorem, and a Park Bench in London

“There are some situations, though, where no one knows who has the initial property right assignment. Under those circumstances, the negotiation is more free form, but the best outcome still depends on how much the parties involved value the alternatives.” ~ Michael C. Munger

Is It An Economic Crime To Import a Soccer Jersey?

“One of the hardiest and most enduring fallacies in economics is the mercantilist fallacy: buying from foreigners is bad for us because we should ‘keep the money here;’ selling to foreigners is good for us because we can pile up more money.” ~ Art Carden

Interest Rates, the Money Supply, and Say’s Law

“Say’s Law absolutely helps us understand booms and busts on the demand side, but because of its emphasis on money, not interest rates.” ~ Alexander William Salter

Explaining Money and Banking: Escape Routes Out of the Quicksand

Economists’ Meaning of “Consumption”

“Because ‘to produce’ means ‘to increase humans’ opportunities to consume,’ Adam Smith is correct: consumption is indeed the sole end and purpose of all production.” ~ Donald J. Boudreaux