Economic Education
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Loury’s ‘Late Admissions’ is Right on Time
“Economists often get lost in abstractions…By coming to terms with himself, Glenn Loury gains a deeper understanding of the challenges and opportunities facing the same communities in which he was raised.” ~Michael N. Peterson
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What Chalkboard Curves Ignore
“When dealing with public policies, however, we should remember that using just one diagram may still be misleading. More than one incentive story or relationship is usually in play.” ~Gary M. Galles
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Erik Angner’s Defense of Our Dismal Discipline
“The conversational tone is excellent for the wide audience he intends — those skeptical of economists and economics — and it’s easy enough to follow along his clear prose even for those without prior training in our arcane arts. ” ~Joakim Book
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Cuban Food Shortages: Another Red Flag
“Facing price controls, taxes and tariffs on food in Cuba, and it shouldn’t be surprising that food markets are increasingly becoming distorted, shortages are frequent, and people remain impoverished.” ~Byron B. Carson, III
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Labor Isn’t Value
“The labor theory of value is wrong. Just because you worked hard at something doesn’t mean you have produced anything worthwhile.” ~Art Carden
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Economic Observations of Beach Parking
“The idea of ‘line up!’ is deeply ingrained in most of us, to the point where we are angry if someone ‘cuts’ in line ahead or, for that matter, behind us.” ~Michael Munger
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Misunderstanding Poverty: a Review of ‘Second Class’
“Frédéric Bastiat famously warned against economic sophisms, the facile myths around free trade and economic policy… Alas, Batya Ungar-Sargon is not even a bad economist.” ~Nikolai Wenzel
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The Real Reason Fast Food Is So Expensive
“The bottom line is that fast food prices are high because demand for fast food remains high, despite those higher prices.” ~Jon Miltimore
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Confounding the Case for Oil and Gas Collusion
“Oil is produced and sold in a global market. Even true cartels like OPEC don’t have total control over prices. It comes down to supply and demand.” ~Alexander W. Salter
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Helping Social Security by Helping Yourself
“Not retiring — instead, doing age-appropriate jobs — is at least a partial solution to the prospect of an insolvent Social Security trust fund.” ~Jimmy Alfonso Licon
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•
Loury’s ‘Late Admissions’ is Right on Time
“Economists often get lost in abstractions…By coming to terms with himself, Glenn Loury gains a deeper understanding of the challenges and opportunities facing the same communities in which he was raised.” ~Michael N. Peterson
-
•
What Chalkboard Curves Ignore
“When dealing with public policies, however, we should remember that using just one diagram may still be misleading. More than one incentive story or relationship is usually in play.” ~Gary M. Galles
-
•
Erik Angner’s Defense of Our Dismal Discipline
“The conversational tone is excellent for the wide audience he intends — those skeptical of economists and economics — and it’s easy enough to follow along his clear prose even for those without prior training in our arcane arts. ” ~Joakim Book
-
•
Cuban Food Shortages: Another Red Flag
“Facing price controls, taxes and tariffs on food in Cuba, and it shouldn’t be surprising that food markets are increasingly becoming distorted, shortages are frequent, and people remain impoverished.” ~Byron B. Carson, III
-
•
Labor Isn’t Value
“The labor theory of value is wrong. Just because you worked hard at something doesn’t mean you have produced anything worthwhile.” ~Art Carden
-
•
Economic Observations of Beach Parking
“The idea of ‘line up!’ is deeply ingrained in most of us, to the point where we are angry if someone ‘cuts’ in line ahead or, for that matter, behind us.” ~Michael Munger
-
•
Misunderstanding Poverty: a Review of ‘Second Class’
“Frédéric Bastiat famously warned against economic sophisms, the facile myths around free trade and economic policy… Alas, Batya Ungar-Sargon is not even a bad economist.” ~Nikolai Wenzel
-
•
The Real Reason Fast Food Is So Expensive
“The bottom line is that fast food prices are high because demand for fast food remains high, despite those higher prices.” ~Jon Miltimore
-
•
Confounding the Case for Oil and Gas Collusion
“Oil is produced and sold in a global market. Even true cartels like OPEC don’t have total control over prices. It comes down to supply and demand.” ~Alexander W. Salter
-
•
Helping Social Security by Helping Yourself
“Not retiring — instead, doing age-appropriate jobs — is at least a partial solution to the prospect of an insolvent Social Security trust fund.” ~Jimmy Alfonso Licon