Economic Education
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The Value of High Costs
“As the late Nobel-laureate economist James Buchanan explained in his 1969 book, Cost and Choice, cost is the barrier to choice. Cost is the benefit that a chooser believes he or she sacrifices whenever he or she makes a choice.” ~ Donald J. Boudreaux
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Economics as an Antidote to Envy
“Much of what economists refer to as ‘transaction costs’ would be eliminated in an economy consisting entirely of saints, but that is unfortunately not the world we inhabit.” ~ Clara E. Piano
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George Stigler, Memoirs of an Unregulated Economist
“For people who understand that there is more in our beloved dismal science that is worth knowing than just what is in the pages of the latest issue of the American Economic Review, books like Memoirs of an Unregulated Economist are a great way to invest one’s time.” ~ Art Carden
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Obi-Wan Kenobi, Public Choice Economist
“Public choice logic remains relevant in the real world, even for our more pressing political controversies. Perhaps we should pay more attention to Obi-Wan, his public choice logic, and the larger political economy issues the Star Wars franchise ingeniously portrays.” ~ Byron B. Carson III
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First World Problems
“Fickle complaints, unrealistic expectations, and perpetual irritation over trivial aspects of goods or services are a just reward for permitting entrepreneurial risk-taking, economic calculation, and markets to operate freely.” ~ Peter C. Earle
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Remarks Delivered at a May 2022 Covid Policy Conference
“Mainstream economists, in my opinion, are too often too lazy when thinking about externalities – a laziness that showed up in a slew of poor commentary on COVID and COVID policy.” ~ Donald J. Boudreaux
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A Market for Mosquito Control?
“In addition to the standard factors of mosquito control, perhaps we should consider the role economic freedom plays. Such institutions enhance competition, encourage innovation, and lead to more opportunities to kill mosquitoes.” ~ Byron B. Carson III
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All Costs Considered
“When facing calls to ‘do something’ no matter the cost, we must remember that there is no magic wand, nor are there solutions, only trade-offs.” ~ David Gillette & Caroline Wright
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Reducing Unemployment Is Not a Free Lunch
“Every attempt by government to ‘stimulate the economy’ intensifies employers’ and workers’ expectations that slowing sales and losses of jobs will be cured by government-engineered increases in aggregate demand.” ~ Donald J. Boudreaux
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Income Distribution and Inequality
“Invariably, however, the proposed solution to any form of income inequality has been an indiscriminate and highly punitive progressive tax on all income and wealth, regardless of how it was earned.” ~ Robert F. Mulligan
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The Value of High Costs
“As the late Nobel-laureate economist James Buchanan explained in his 1969 book, Cost and Choice, cost is the barrier to choice. Cost is the benefit that a chooser believes he or she sacrifices whenever he or she makes a choice.” ~ Donald J. Boudreaux
-
•
Economics as an Antidote to Envy
“Much of what economists refer to as ‘transaction costs’ would be eliminated in an economy consisting entirely of saints, but that is unfortunately not the world we inhabit.” ~ Clara E. Piano
-
•
George Stigler, Memoirs of an Unregulated Economist
“For people who understand that there is more in our beloved dismal science that is worth knowing than just what is in the pages of the latest issue of the American Economic Review, books like Memoirs of an Unregulated Economist are a great way to invest one’s time.” ~ Art Carden
-
•
Obi-Wan Kenobi, Public Choice Economist
“Public choice logic remains relevant in the real world, even for our more pressing political controversies. Perhaps we should pay more attention to Obi-Wan, his public choice logic, and the larger political economy issues the Star Wars franchise ingeniously portrays.” ~ Byron B. Carson III
-
•
First World Problems
“Fickle complaints, unrealistic expectations, and perpetual irritation over trivial aspects of goods or services are a just reward for permitting entrepreneurial risk-taking, economic calculation, and markets to operate freely.” ~ Peter C. Earle
-
•
Remarks Delivered at a May 2022 Covid Policy Conference
“Mainstream economists, in my opinion, are too often too lazy when thinking about externalities – a laziness that showed up in a slew of poor commentary on COVID and COVID policy.” ~ Donald J. Boudreaux
-
•
A Market for Mosquito Control?
“In addition to the standard factors of mosquito control, perhaps we should consider the role economic freedom plays. Such institutions enhance competition, encourage innovation, and lead to more opportunities to kill mosquitoes.” ~ Byron B. Carson III
-
•
All Costs Considered
“When facing calls to ‘do something’ no matter the cost, we must remember that there is no magic wand, nor are there solutions, only trade-offs.” ~ David Gillette & Caroline Wright
-
•
Reducing Unemployment Is Not a Free Lunch
“Every attempt by government to ‘stimulate the economy’ intensifies employers’ and workers’ expectations that slowing sales and losses of jobs will be cured by government-engineered increases in aggregate demand.” ~ Donald J. Boudreaux
-
•
Income Distribution and Inequality
“Invariably, however, the proposed solution to any form of income inequality has been an indiscriminate and highly punitive progressive tax on all income and wealth, regardless of how it was earned.” ~ Robert F. Mulligan