Some Comments on the Significance of Labor Unions for Economic Policy – Items – Collected Works of Milton Friedman
08 Sep 2026 Leave a comment
in applied price theory, economic history, history of economic thought, industrial organisation, labour supply, Milton Friedman, survivor principle, unions
How economics is changing
07 Sep 2026 Leave a comment
in history of economic thought
As a proportion of the literature, research about econometric theory, monetary policy and corporate governance has slumped. Meanwhile, papers on development, crime and gender are on the up. This could perhaps be because of changing intellectual interests, or maybe demand-side pressures, such as policymaker priorities and external funding… Research from Prashant Garg, a postdoctoral researcher…
How economics is changing
‘The Use of Knowledge in Society,’ by Friedrich A. Hayek
01 Sep 2026 Leave a comment
in applied price theory, Austrian economics, economics of information, entrepreneurship, F.A. Hayek, history of economic thought, industrial organisation, Ludwig von Mises, market efficiency, Ronald Coase, Ronald Coase, Ronald Coase, theory of the firm
The wealth and technological sophistication of modern society are readily apparent. Less visible, but no less remarkable, is its ability to coordinate the actions of billions of people who know almost nothing about one another’s circumstances. Every day we make decisions without possessing most of the information on which those decisions ultimately depend. We purchase…
‘The Use of Knowledge in Society,’ by Friedrich A. Hayek
Do labour markets behave like competitive markets?
01 Sep 2026 Leave a comment
in applied price theory, econometerics, history of economic thought, industrial organisation, labour economics, labour supply Tags: competition law, monopsony
The American evidence is that they frequently do not. For over a century there was a separate Department of Labour, which was amalgamated into that vast miscellaneous department, the Ministry of Business, Innovation and Employment. Today there is no Minister of Labour, while the portfolios of workplace relations and safety and of immigration are held […]
Do labour markets behave like competitive markets?
Rethinking keynesian fiscal stimulus | LSE Event
31 Aug 2026 Leave a comment
in budget deficits, business cycles, econometerics, economic growth, economic history, global financial crisis (GFC), great recession, history of economic thought, labour economics, macroeconomics, public economics, unemployment
Can Chile Once Again Become the Latin Tiger?
30 Aug 2026 Leave a comment
in development economics, economic growth, economic history, growth miracles, history of economic thought, macroeconomics Tags: Chile
In 2012, I wrote that pro-market reforms had turned Chile into the Latin Tiger. But two years later, in 2014, I wrote a column fretting that a recently elected left-leaning government was going to undermine prosperity. Based on the Maddison data, my concerns were justified. The country’s economic performance can be divided into three periods. […]
Can Chile Once Again Become the Latin Tiger?
The Austrian Approach to Competition | Israel M. Kirzner
27 Aug 2026 Leave a comment
in applied price theory, Austrian economics, history of economic thought, industrial organisation Tags: competition law
Whiskey taxes, revenue and voting by members of Congress in history
25 Aug 2026 Leave a comment
in applied price theory, econometerics, history of economic thought, Public Choice, public economics
See Revenue over reason: A case for home distilling by Ben Semark of the Competitive Enterprise Institute. After an excerpt from Semark’s article, I discuss how this relates to voting by congressmen on bills during the Federalist period, the subject of my Ph. D. dissertation.Excerpt from Semark:”Creating home-brewed spirits was not a niche or commercial practice…
Whiskey taxes, revenue and voting by members of Congress in history
The History and Importance of the Austrian Theory of the Market Process …
21 Aug 2026 Leave a comment
in applied price theory, Austrian economics, economic history, history of economic thought
Dr. Israel M. Kirzner — “Economics and Entrepreneurship”
21 Aug 2026 Leave a comment
in applied price theory, Austrian economics, economic history, entrepreneurship, F.A. Hayek, history of economic thought, Israel Kirzner, market efficiency
Dr. Israel M. Kirzner — “Economics and Entrepreneurship”
19 Aug 2026 Leave a comment
in applied price theory, Austrian economics, economic history, economics of regulation, entrepreneurship, history of economic thought, industrial organisation, law and economics, Public Choice, regulation, rentseeking Tags: competition law
Incentive Misalignment in Communism: the case of Vietnam
15 Aug 2026 1 Comment
in applied price theory, development economics, economic history, growth disasters, history of economic thought, industrial organisation, labour economics, labour supply, Marxist economics Tags: economics of central planning, Vietnam
Rainer Zitelmann writes in How Capitalism Beat Communism in Vietnam in Reason Magazine, The state collectives did not reward members for the amount of rice they produced, but instead counted how many days they had worked. 183 more words
Incentive Misalignment in Communism: the case of Vietnam
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