Economic Education
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The Urge to Do Something
There is a problem in public affairs. If there is a state, with the capacity to do good, the temptation to do something is irresistible.
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Uncertainty Index on the Rise
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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In Defense of the Teaching Mission
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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Martin Feldstein Is Dead, Long Live His Critique of Social Security
Feldstein taught his students and readers to think about economic policy decisions in rigorous ways, backed by hard numbers.
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The Hidden Costs of a $15 Per Hour Minimum Wage
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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Beware the Candidate with a Plan
Without realizing it, and as brilliant as they may be, the candidates—like all of us—are still profoundly ignorant.
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Democracy and the Toxic Metastasizing of a Sound Idea
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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What Preferences Do You Want?
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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Should Hikers Pay for Their Own Rescue?
The danger that individuals often put themselves in comes at a public cost.
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Graduates, Be Skeptical of Those in Power
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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•
The Urge to Do Something
There is a problem in public affairs. If there is a state, with the capacity to do good, the temptation to do something is irresistible.
-
•
Uncertainty Index on the Rise
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.
-
•
In Defense of the Teaching Mission
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.
-
•
Martin Feldstein Is Dead, Long Live His Critique of Social Security
Feldstein taught his students and readers to think about economic policy decisions in rigorous ways, backed by hard numbers.
-
•
The Hidden Costs of a $15 Per Hour Minimum Wage
There are a lot of ways firms and workers can adjust to higher minimum wages without anyone actually losing his or her job.
-
•
Beware the Candidate with a Plan
Without realizing it, and as brilliant as they may be, the candidates—like all of us—are still profoundly ignorant.
-
•
Democracy and the Toxic Metastasizing of a Sound Idea
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.
-
•
What Preferences Do You Want?
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.
-
•
Should Hikers Pay for Their Own Rescue?
The danger that individuals often put themselves in comes at a public cost.
-
•
Graduates, Be Skeptical of Those in Power
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.