The first Nobel Prize in economics was awarded in 1969, to Ragnar Frisch and Jan Tinbergen. The fiftieth prize was awarded in 2018, to William Nordhaus and Paul Romer. In total up to that point, there had been 91 Nobel laureates in economics. This 2019 article by Allen Sanderson (University of Chicago) and John Siegfried (Vanderbilt…
An interesting paper about the first 50 years of Nobel Prize winners in economics
An interesting paper about the first 50 years of Nobel Prize winners in economics
23 May 2025 1 Comment
in economics of education, history of economic thought
Excusing the Government
22 May 2025 Leave a comment
in applied price theory, applied welfare economics, comparative institutional analysis, constitutional political economy, economics of bureaucracy, economics of regulation, history of economic thought, income redistribution, international economics, labour economics, law and economics, property rights, Public Choice, public economics, rentseeking, urban economics
An excerpt from Chapter 3 of *Unbeatable*
Excusing the Government
Pro-Market & Pro-Business: Firms Strive to Satisfy the Customer
22 May 2025 Leave a comment
in applied price theory, comparative institutional analysis, economics of information, economics of regulation, entrepreneurship, history of economic thought, industrial organisation, labour economics, law and economics, property rights
David Friedman Explains Why Trump’s Tariffs Will Fail | IEA Live
21 May 2025 Leave a comment
in applied price theory, David Friedman, history of economic thought, industrial organisation, international economics
Kevin Gentry Talks With Me About Trade and Phil Gramm’s and My New Book
20 May 2025 Leave a comment
in applied price theory, applied welfare economics, Austrian economics, comparative institutional analysis, development economics, economic history, economics of regulation, entrepreneurship, history of economic thought
TweetThanks for the honor, Kevin! The post Kevin Gentry Talks With Me About Trade and Phil Gramm’s and My New Book appeared first on Cafe Hayek.
Kevin Gentry Talks With Me About Trade and Phil Gramm’s and My New Book
David Friedman on markets, governments and whether we need either?
19 May 2025 Leave a comment
in applied price theory, comparative institutional analysis, constitutional political economy, David Friedman, defence economics, economics of crime, economics of regulation, environmental economics, history of economic thought, industrial organisation, law and economics, property rights
The Mainstream World Is Not Free-Market
10 May 2025 Leave a comment
in applied price theory, applied welfare economics, Austrian economics, comparative institutional analysis, constitutional political economy, economic history, economics of education, economics of regulation, history of economic thought, human capital, labour economics, occupational choice
An excerpt from Chapter 1 of *Unbeatable*
The Mainstream World Is Not Free-Market
Twisted Illogic
02 May 2025 Leave a comment
in applied price theory, history of economic thought, industrial organisation, international economics, politics - USA, Public Choice, rentseeking Tags: 2024 presidential election, free trade, tarrifs
TweetHere’s a letter to The Hill. Editor: Pres. Trump said that “China probably will eat those tariffs” (“Trump says China ‘probably will eat those tariffs’,” April 29). So the president believes that the tariffs will be ‘eaten’ by China – meaning, he believes the tariffs won’t result in higher prices in America of Chinese goods.…
Twisted Illogic
Capitalism, Socialism, and Social Desirability Bias
01 May 2025 Leave a comment
in applied price theory, comparative institutional analysis, development economics, economic history, entrepreneurship, history of economic thought, industrial organisation Tags: capitalism and freedom
An excerpt from the Introduction of *Unbeatable*
Capitalism, Socialism, and Social Desirability Bias
Smith Reviews Stiglitz
24 Apr 2025 Leave a comment
in applied price theory, Austrian economics, comparative institutional analysis, economics of information, economics of regulation, entrepreneurship, experimental economics, history of economic thought, industrial organisation
Vernon Smith reviews Joe Stiglitz’s book The Road to Freedom: Stiglitz did work in the abstract intellectual theoretical tradition of neoclassical economics showing how the standard results were changed by asymmetric or imperfect information. He is oblivious, however, to the experimental lab and field empirical research showing that agent knowledge of all such information is […]
Smith Reviews Stiglitz
Long-Run Effects of Trade Wars
24 Apr 2025 Leave a comment
in applied price theory, applied welfare economics, comparative institutional analysis, development economics, econometerics, history of economic thought, industrial organisation, labour economics, labour supply, politics - USA, unemployment Tags: 2024 presidential election, free trade, tariffs, unintended consequences
This short note shows that accounting for capital adjustment is critical when analyzing the long-run effects of trade wars on real wages and consumption. The reason is that trade wars increase the relative price between investment goods and labor by taxing imported investment goods and their inputs. This price shift depresses capital demand, shrinks the […]
Long-Run Effects of Trade Wars
My debate with Dani Rodrik about tariffs and free trade
22 Apr 2025 Leave a comment
in applied price theory, applied welfare economics, comparative institutional analysis, development economics, economic history, history of economic thought, industrial organisation, international economic law, international economics, labour economics, politics - USA, unemployment Tags: 2024 presidential election, free trade, tariffs
This occurred in Knoxville, you can watch it here. Lots of fun, and p.s. I am more of a free trader than he is. We did have some disagreements.
My debate with Dani Rodrik about tariffs and free trade
Ronald Reagan in 1982 on Free Trade
20 Apr 2025 Leave a comment
in applied price theory, economic history, history of economic thought, industrial organisation, international economic law, international economics, liberalism, libertarianism, politics - USA, Public Choice, rentseeking Tags: free trade, tariffs
TweetWhen President Ronald Reagan delivered this address in November 1982, I was a 24-year-old graduate student. Radically libertarian at that point for almost six years, I was sufficiently astute enough to know that Reagan wasn’t terrible on most of the issues that I cared about, but I was nevertheless insufficiently mature and astute enough to…
Ronald Reagan in 1982 on Free Trade
Victor Davis Hanson Should Stick to the Classics
18 Apr 2025 Leave a comment
in applied price theory, comparative institutional analysis, economic history, history of economic thought, industrial organisation, international economics, politics - USA Tags: 2024 presidential election, free trade, tarrifs
TweetHere’s a letter to The Daily Signal. Editor: Suppose I submitted to you an essay in which Thucydides is described as a first-century Roman senator who wrote a biography of Charlemagne – would you publish it? Of course not. The ignorance of such an essay would be palpable. But I would never write such a…
Victor Davis Hanson Should Stick to the Classics
Utopia, you are standing in it! 
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