Economics of the Undead: Zombies, Vampires, and the Dismal Science

by Glen Whitman Last year in this space, I posted the Call for Abstracts for a forthcoming book called Economics of the Undead. That project is now coming to fruition! The book will officially be published tomorrow; here's the Amazon page, and here's the Barnes & Noble page. (The Kindle version should also become available … Continue reading Economics of the Undead: Zombies, Vampires, and the Dismal Science

Economics Music Video Contest: Markets Promote Peace

by Edward Stringham As a professor, I am a  fan of rigorous economic research, but I am also a fan of helping students learn about how important economics is in an engaging way. John Papola did an excellent job with the Keynes Versus Hayek music videos (especially the second one with yours truly), and over the past … Continue reading Economics Music Video Contest: Markets Promote Peace

A New Journal from The Ronald Coase Institute

by Mario Rizzo Readers of this blog may be interested in learning that the awaited-and-hoped-for new journal is actually coming soon. It is a welcome change from the usual in economics today. I hope that Austrians might consider submitting articles of high quality. The following is taken from the website of the Ronald Coase Institute. … Continue reading A New Journal from The Ronald Coase Institute

Ignorant Survey from Chicago-Booth?

By Mario Rizzo The Chicago-Booth IMG Forum asks their favorite economists two questions. Let us examine them. Question A: Raising the federal minimum wage to $9 per hour would make it noticeably harder for low-skilled workers to find employment. Why was the word “noticeably” added to the question rather than some specific quantitative amount?  In … Continue reading Ignorant Survey from Chicago-Booth?

James M. Buchanan: A Preliminary Appreciation

by Mario Rizzo The great economist James M. Buchanan died today at 93. I am still too stunned to write a proper appreciation of his tremendous contributions to economics and, indeed, to moral philosophy. Buchanan won the Nobel prize in Economics in 1986. But even this does not capture his greatness. There have been many Nobel … Continue reading James M. Buchanan: A Preliminary Appreciation

“ECONOMICS” NOBEL PRIZE – 2012 Edition

by Mario Rizzo I have very little to say directly about this year’s Nobel Prize in Economics. I do not know whether the seemingly-technical contributions of Alvin E. Roth and Lloyd S. Shapley rise to the level of a Nobel Prize. However, I am mindful that the Nobel Committee has to give the award every year. … Continue reading “ECONOMICS” NOBEL PRIZE – 2012 Edition

Top Young Economists Consider Their Future

by Roger Koppl Ali Wyne of the big think  blog “Power Games”  recently posted an interesting set of comments on the theme “Empirics and Psychology: Eight of the World’s Top Young Economists Discuss Where Their Field Is Going.”  George Mason’s own Peter Leeson  was among the eight “top young economists” sharing their views. Over at … Continue reading Top Young Economists Consider Their Future

Elinor Ostrom, RIP

by Mario Rizzo This will not be a review of her scholarly contributions. I have already made some attempt at that in a post shortly after her richly-deserved Nobel prize in economics. And I also link an announcement of her death here.  I met Professor Ostrom at a celebration of her work at GMU after she won the prize. … Continue reading Elinor Ostrom, RIP

Supply and Demand in Music

by Edward Peter Stringham* Many economists are criticized for being unable to communicate their ideas in am intelligible and non-boring way. How many people, for example, jump to listen about a debate about the Austrian theory of the business cycle? It turns out quite a lot. John Papola and Russ Roberts demonstrated to the world that … Continue reading Supply and Demand in Music

Chicago and Vienna

by Jerry O’Driscoll In the last two days, two prominent economists have asked me essentially the same question: what is the difference between Chicago and Austrian economics? It is interesting that both asked, particularly since one has a Ph.D from Chicago. The second economist asked me specifically if Armen Alchian wasn’t really an Austrian. I’ll respond … Continue reading Chicago and Vienna

No Way to Escape for the Swiss National Bank

by Andreas Hoffmann and Gunther Schnabl It came as a surprise to many: the Swiss National Bank announced an exchange rate target. Accordingly, the Swiss franc will be held above the level of 1.20 francs per euro. Switzerland gives up a part of its sovereignty, when the ECB makes bad press in buying trash-rated euro … Continue reading No Way to Escape for the Swiss National Bank

Stark quits ECB

by Andreas Hoffmann This is good news for inflationists. I am shocked that Jürgen Stark quit his job at the European Central Bank. Usually it is a good thing when central bankers quit their job - or at least it does not make a difference. But Jürgen Stark is known as an inflation hawk. Jürgen Stark - … Continue reading Stark quits ECB