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
by Mario Rizzo Some people rest the case for representative democracy on the idea that its decisions express the “will of the people.” Those who believe this have never thought deeply about what they are saying. I am inclined, in response to these believers, to use my favorite paraphrase of Ludwig Wittgenstein, “You can mouth … Continue reading THE WILL OF THE PEOPLE
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
by Chidem Kurdas Protestors have “occupied” a square near Wall Street for weeks. Hundreds of them were arrested, some 700 while blocking the Brooklyn Bridge. The movement may be spreading to other American cities. At least one demonstrator says: “This is a revolution.” They complain of joblessness and the inequities of global capitalism, though the … Continue reading Revolution on Wall Street?
by Andreas Hoffmann The euro benefited Germany more than others in the zone. Germany exported and won, the others had to import German goods and lost (link). This seems to be a consensus in the world of politics. The second consensus is that a bail-out package for the euro problem children or even euro bonds … Continue reading Euro Benefited Germany More than Others in Zone
by Herbert Spencer (1820-1903) Were anyone to call me dishonest or untruthful he would touch me to the quick. Were he to say that I am unpatriotic, he would leave me unmoved. “What, then, have you no love of country?” That is a question not to be answered in a breath. The early abolition of … Continue reading Patriotism
by Mario Rizzo I am always amazed that when many economists give policy advice the sophistication and logical rigor that the discipline so values gets completely lost. There are many ways to interpret this. One is that the level of precision appropriate to theory and to applied economics is not appropriate to the “art” of … Continue reading Confusion Masquerading as Science? Taxes and Spending
by Mario Rizzo There has been much moaning, even before the Arizona shooting incident, about why “we” cannot be civil in our political discussions and why political parties cannot work together for the common good. Most of this is pure logorrhea. There are some simple facts the commentators cannot or will not face. The reason … Continue reading Sowing and Reaping: The True Sickness of Society
by Roger Koppl The tragic shooting in Arizona has sparked a fight about whether today’s right-wing political rhetoric is somehow responsible for egging on Jared Loughner. The evidence so far is against the claim. Mother Jones, hardly a right-wing rag, interviewed a friend of Loughner. It seems that Loughner had a grudge against Giffords after … Continue reading Mark Potok’s Loony Logical Leap
by Mario Rizzo In an editorial the Wall Street Journal criticizes Sarah Palin for criticizing Michelle Obama’s anti-obesity campaign. The point seems to be that such talk from the Ms. Bully Pulpit is innocuous or benign. The writer makes an analogy with Nancy Reagan’s “Just Say No” anti-drug campaign. Now if Michelle Obama were just … Continue reading Could Sarah Palin Be Right?!