Gary M. Galles
Senior Fellow
Dr. Gary Galles is a Professor of Economics at Pepperdine.
His research focuses on public finance, public choice, the theory of the firm, the organization of industry and the role of liberty including the views of many classical liberals and America’s founders.
His books include Pathways to Policy Failure, Faulty Premises, Faulty Policies, Apostle of Peace, and Lines of Liberty.
Books by Gary Galles
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Understanding “Underpaid” Workers
“Money ultimately comes from employees’ pockets, but they blame their employers instead of the government for reducing what they take home as a result. When workers say ‘I was robbed,’ they may be correct–but they finger the wrong suspect.” ~ Gary M. Galles
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Free Riding, Expressive Voting and Charity
“To the extent the free-rider problem does arise, it is true that government intervention can change how much charity is provided. But that does not mean the result is closer to what we ‘really want’ to give than what we actually give.” ~ Gary M. Galles
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With Friends Like These, Who Needs Enemies?
“Unfortunately, the patriotic protectionism story confuses American consumers’ friends and enemies. Our supposed enemies, foreign producers, are actually our friends, and our supposed friends, domestic producers and the US government, are actually our enemies.” ~ Gary M. Galles
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A Drinking Man’s Guide to Monetary Policy
“Just like drinking, expansionary monetary policy can provide a temporary (or transitory) high at first (faster real output growth and reduced unemployment). However, the ill effects come later (in an inflation “hangover”).” ~ Gary M. Galles
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A Reality Czar? What Could Possibly Go Wrong.
“So who could be trusted as the reality czar? No one. That is why Democrats never suggested one when Trump was in office. In politics, truth is subservient to power.” ~ Gary M. Galles
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Senioritis: It’s Not Just for Slackers Anymore
“Senioritis is a rational response to the end-of-period problems students face when future consequences that normally condition, if not virtually dictate, their incentives, are eroded.” ~ Gary M. Galles
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Learning Street Corner Economics in London
“An overseas experience affords plenty of ways to put the tools and principles of economics students have been taught to work, perhaps the best way to real mastery of ‘street-corner economics.’” ~ Gary M. Galles
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More Poison from Twitter
“Taking away this valuable shareholder option without their consent is not in owners’ interests, as commonly reflected by negative stock price changes when poison pills are adopted without shareholder approval.” ~ Gary M. Galles
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Suffering from Sunk Costs
“Understanding how to understand and apply sunk costs is important in many ways. And one of those ways is to recognize that when we make a mistake in such efforts, we can’t retroactively fix those mistakes, but we can use them to learn better.” ~ Gary M. Galles
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How Much Can We Trust Supposed Earmark Reforms?
“Every time Americans are assured they will be ‘insured’ against earmark abuses, it is made to sound like real reform. But that insurance is far more image than substance. Perhaps that is why for some K Street lobbyists, ‘It means joy, rapture, hallelujah.’” ~ Gary M. Galles
-
•
Understanding “Underpaid” Workers
“Money ultimately comes from employees’ pockets, but they blame their employers instead of the government for reducing what they take home as a result. When workers say ‘I was robbed,’ they may be correct–but they finger the wrong suspect.” ~ Gary M. Galles
-
•
Free Riding, Expressive Voting and Charity
“To the extent the free-rider problem does arise, it is true that government intervention can change how much charity is provided. But that does not mean the result is closer to what we ‘really want’ to give than what we actually give.” ~ Gary M. Galles
-
•
With Friends Like These, Who Needs Enemies?
“Unfortunately, the patriotic protectionism story confuses American consumers’ friends and enemies. Our supposed enemies, foreign producers, are actually our friends, and our supposed friends, domestic producers and the US government, are actually our enemies.” ~ Gary M. Galles
-
•
A Drinking Man’s Guide to Monetary Policy
“Just like drinking, expansionary monetary policy can provide a temporary (or transitory) high at first (faster real output growth and reduced unemployment). However, the ill effects come later (in an inflation “hangover”).” ~ Gary M. Galles
-
•
A Reality Czar? What Could Possibly Go Wrong.
“So who could be trusted as the reality czar? No one. That is why Democrats never suggested one when Trump was in office. In politics, truth is subservient to power.” ~ Gary M. Galles
-
•
Senioritis: It’s Not Just for Slackers Anymore
“Senioritis is a rational response to the end-of-period problems students face when future consequences that normally condition, if not virtually dictate, their incentives, are eroded.” ~ Gary M. Galles
-
•
Learning Street Corner Economics in London
“An overseas experience affords plenty of ways to put the tools and principles of economics students have been taught to work, perhaps the best way to real mastery of ‘street-corner economics.’” ~ Gary M. Galles
-
•
More Poison from Twitter
“Taking away this valuable shareholder option without their consent is not in owners’ interests, as commonly reflected by negative stock price changes when poison pills are adopted without shareholder approval.” ~ Gary M. Galles
-
•
Suffering from Sunk Costs
“Understanding how to understand and apply sunk costs is important in many ways. And one of those ways is to recognize that when we make a mistake in such efforts, we can’t retroactively fix those mistakes, but we can use them to learn better.” ~ Gary M. Galles
-
•
How Much Can We Trust Supposed Earmark Reforms?
“Every time Americans are assured they will be ‘insured’ against earmark abuses, it is made to sound like real reform. But that insurance is far more image than substance. Perhaps that is why for some K Street lobbyists, ‘It means joy, rapture, hallelujah.’” ~ Gary M. Galles