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Article

The Law of Demand

NOVEMBER 05, 2012

Ignoring the law of demand often has perverse consequences. Art Carden has a few examples.

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Identity Economics: How Our Identities Shape Our Work, Wages, and Well-Being

MARCH 28, 2012

In order to makes economics a more useful tool for improving institutions and society, 2001 Nobel laureate George Akerlof and Rachel Kranton study people's notion of who they are and how they behave.

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The TSA Makes Us Safer?

FEBRUARY 24, 2011

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Why Not Socialism?

DECEMBER 22, 2010

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How Shall We Live?

MARCH 24, 2010

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Walmart's Bottom Line

JANUARY 05, 2010

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Profit Is Bad for Your Health?

NOVEMBER 18, 2009

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The Great Depression and World War II

MAY 21, 2009

What about World War II? Did it end the Great Depression? More generally, is war good for the economy? I answer both in the negative and borrow here from Ludwig von Mises: "War prosperity is like the prosperity that an earthquake or a plague brings." As Higgs points out, because of the array of interventions in the wartime economy, war materiel was valued incorrectly and therefore the GDP data overstate economic conditions. Moreover, conscription and arms production gave a misleading employment picture