David Rockefeller in the late '30s reading Oscar Morgenstern's The Limits of Economics David Rockefeller, grandson of John D. Rockefeller, died recently at the age of 101. He was known for many things. But perhaps the least known of his accomplishments was his dissertation for which he was awarded a Ph.D. in economics from … Continue reading David Rockefeller as an Economist
This is from more than eight years ago. It was written in response to the Obama campaign and its call for unity. It applies again today to the World of Trump.
by Liya Palagashvili Earlier this summer, de Blasio attempted to cap the number of Uber and other ride-sharing drivers in New York City. Although he ended up dropping the proposal, the event itself serves as a wonderful pedagogical illustration of public choice insights. Here’s an excerpt from my op-ed on this: What can we learn … Continue reading Lessons from the Uber-de Blasio Showdown
By Mario Rizzo There comes a point where the continual mandating of benefits and restrictions on hiring has big consequences. We can see the handwriting on the wall in Europe as well as in the US. In Europe the young are more and more being left out of the traditional forms of hiring . A … Continue reading Chickens Coming Home to Roost: The Progressive Destruction of Employment Opportunities
Jerry O’Driscoll The Association of Private Enterprise Education will hold its annual meeting in Las Vegas, Nevada, April 3rd to 5th, 2016. This year’s conference theme is Capitalism: Free-Market or Crony? Papers are welcome on that topic, as well as other topics relevant to market economies. That list certainly includes Austrian economics, Public Choice, etc. … Continue reading APEE: Call for Papers
by Edward Stringham I have enjoyed working with excellent colleagues and Ph.D. students at Texas Tech University, but I am thrilled to be hired as an endowed chair at Trinity College in Hartford, Connecticut. Undergraduate students interested in private enterprise, drop everything you are doing and enroll now! Parents of toddlers destined for success, create a … Continue reading Stringham appointed as the Davis Professor for Economic Organizations and Innovation at Trinity College
by Ed Stringham If you are interested in earning a Ph.D., or if you know someone who is, I strongly recommend studying at Texas Tech University where I have had the pleasure to teach this past year. At the center of the action is my good friend, Benjamin Powell, who directs the Free Market Institute … Continue reading Why students interested in free markets should get their Ph.D. at Texas Tech University
By Ed Stringham I am pleased to have been selected as the next President of the Society for the Development of Austrian Economics. Many economists including Karen Vaughn, Mario Rizzo, Peter Lewin, Steve Horwitz, and Peter Boettke, have done great work and help make the society far bigger than I would have predicted. Sessions over the … Continue reading Organizing sessions for the Society for the Development of Austrian Economics
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 It is tempting to over-romanticize a person when he or she is gone. I will strive to be balanced in keeping with how I feel and think about Gary Becker. I am saddened by his recent death (May 3rd). I have known him since at least 1974 – some forty years. He … Continue reading Gary Stanley Becker (1930-2014): Through My Austrian Window
by Roger Koppl I was thinking of the NSA scandal while jogging through Rome’s Park of the Aqueducts this morning. I guess it was that setting that made me think of our new computer-geek overlords as a virtual Praetorian Guard. Augustus created the original Praetorian Guard about 27 BCE to protect the emperor. It quickly … Continue reading Congress Should Grow a Pair
by Mario Rizzo Today is Hayek’s birthday. Much has been and will continue to written about him. When I look around at much of what passes for economics today, especially in the prestige circles, I cringe. But reading his work always comforts me that something better is possible. And, in fact, there are many economists … Continue reading F.A. Hayek: His 114th Birthday
by Andreas Hoffmann (University of Leipzig) In a recent piece Jesus Huerta de Soto (2012) argues that the euro is a proxy for the gold standard. He draws several analogies between the euro and the classical gold standard (1880-1912). Like when "going on gold" European governments gave up monetary sovereignty by introducing the euro. Like … Continue reading The Euro: a Step Toward the Gold Standard?
by Roger Koppl Income inequality matters. Let me say that again so you know I meant it: Income inequality matters. This statement may be surprising coming from a self-described “Austrian” economist and a “liberal” in the good old-fashioned pro-market sense. It shouldn’t be. It should be one of our issues. The surprise should be that we … Continue reading Income Inequality Matters
This is a project I've been working on, and I hope that some of ThinkMarkets' readers (and bloggers) will consider contributing. Call for Abstracts Economics of the Undead: Blood, Brains & Benjamins Glen Whitman & James P. Dow, Editors The editors seek abstracts for essays exploring the relationship between economics and the undead, especially zombies … Continue reading Economics of the Undead
by Mario Rizzo There is an interesting interview with Ed Feulner, the outgoing president of the Heritage Foundation, in the weekend (Dec. 8-9) Wall Street Journal. The interview got me thinking about the progress made in the pro-economic-liberty cause, not only over the years of Heritage, but since, say, 1960. I choose this year deliberately … Continue reading Interests are More Powerful than Ideas?
by Gene Callahan The next phase in my (now our, as I've taken on a colleague) project of thinking through Dan Klein's Knowledge and Coordination is to see how his ideas might be used to help describe business cycle theories and demonstrate commonalities they share. Note: the point of the present exercise is simply to try to … Continue reading A “Kleinian” Version of Austrian Business Cycle Theory
by Gene Callahan Let's take social science broadly, in the sense of German wissenschaft, so that The Republic and Politics and The Social Contract are social science. (I would contend that they are, in fact, often much more scientific than the latest regression study of how detergent use correlates with the suicide rate.) So what, … Continue reading The Great Ideas of the Social Sciences
by Roger Koppl A front-page article in yesterday’s Washington Post underlines the importance of establishing a substantive defense right to expertise in the US. The article says, “Justice Department officials have known for years that flawed forensic work might have led to the convictions of potentially innocent people, but prosecutors failed to notify defendants or … Continue reading The Passions and the Interests in Forensic Science