Intellectual Portrait Series
Book Review, Liberty Classics
A Liberty Classic Book Review of Envy: A Theory of Social Behaviour by Helmut Schoeck.1 I’ve been such a fool, Vassili. Man will always be man. There is no new man. We tried so hard to create a society that is equal, where there’d be nothing to envy your neighbor. But there’s always something to .. MORE
Article
While much has been written about entrepreneurship in business and economics publications, much less has been written about entrepreneurial failure. Some writers in the popular press have interesting things to say, such as Megan McArdle’s The Up Side of Down: Why Failing Well Is the Key to Success.1 She finds that failing early on and .. MORE
Book Review, Liberty Classics
Henry George A Liberty Classics Book Review of Progress and Poverty, by Henry George.1 Henry George’s Progress and Poverty (1879) was among the most important and widely read books published in the 19th century, but George’s work and the single tax movement it spawned had largely faded common knowledge by the 1930s. George’s central idea .. MORE
Competition
Macroeconomics
Energy, Environment, Resources
Adam Smith
Macroeconomics
Economic Methods
Books: Reviews and Suggested Readings
Public Health
Political Economy
Adam Smith
econtalk-podcast
Listen as Megan McArdle and EconTalk’s Russ Roberts use Google’s new AI entrant Gemini as the starting point for a discussion about the future of our culture in the shadow of AI bias. They also discuss the tension between rules and discretion in Western society and why the ultimate answer to AI bias can’t be .. MORE
econtalk-podcast
When poet, lawyer, and MacArthur Fellow Dwayne Betts was imprisoned for nine years at the age of 16 for carjacking, he only wept twice. One of those times was when he read Martin Luther King Jr.’s “Letter from Birmingham Jail.” In this powerful conversation with EconTalk’s Russ Roberts, Betts explains why he cried, what he .. MORE
Books: Reviews and Suggested Readings
The philosopher Daniel Dennett passed away recently. While his work was focused on things like consciousness and the philosophy of mind, his ideas can find applications in other areas of life, including economics. There’s one idea in particular he described in his book Intuition Pumps and Other Tools for Thinking I want to highlight here .. MORE
Energy, Environment, Resources
I got in on the tail end of the discussion of Scott Sumner’s post in which he discusses global warming. I posted a comment but it was probably too late for most people to notice. I think the issue is more complicated than Scott seems to suggest. Scott writes: Theory suggests that higher levels of .. MORE
Explore the lasting legacies and
continued relevance of our classic titles.
There are two versions of Thomas Robert Malthus’s Essay on the Principle of Population. The first, published anonymously in 1798, was so successful that Malthus soon elaborated on it under his real name. * The rewrite, culminating in the sixth edition of 1826, was a scholarly expansion and generalization of the first.Following his success with .. MORE
A Book Review of Time For Socialism, by Thomas Piketty.1 Time For Socialism author Thomas Piketty boasts a doctorate in economics, publishes papers regularly in top economics journals, teaches economics at the Paris School of Economics, and was once on the economics faculty at M.I.T. Yet not only are the 333 pages of his 2021 .. MORE
A Book Review of Rules and Order, by Friedrich Hayek. Jeremy Shearmur, ed.1 Fifty years ago next year, F.A. Hayek, soon to be awarded a Nobel Prize in economics, published Rules and Order, the first volume of his trilogy Law, Legislation, and Liberty.2 Two thousand and twenty-two marks the publication of a new consolidated edition .. MORE
VIDEO
Svetozar “Steve” Pejovich, one of the most dynamic and insightful theorists writing on property rights, reflects on his experience in economics. With characteristic sagacity and humor, he demonstrates the power that empirical cases can bring to bear on theoretical problems. Born in Belgrade, Pejovich is Professor Emeritus at Texas A&M University, where he taught for .. MORE
VIDEO
A five-part short video series on the life and contemporary relevance of Adam Smith. This video series, produced by AdamSmithWorks, can be watch as a full 38-minute feature, or in five thematic, classroom-friendly chunks. To access all, click here. Below are some discussion prompts related to this video: Part 1: The Invisible Hand .. MORE
Econlib Videos
Conversations with some of the most original thinkers of our time
The Reading Lists by Topic pages contain some suggested readings organized by topic, including materials available on Econlib. Brief reviews or descriptions are included for many items.
Supplementary materials for popular college textbooks used in courses in the Principles of Economics, Microeconomics, Price Theory, and Macroeconomics are suggested by topic.
These free resources are appropriate for teachers of high school and AP economics, social studies, and history classes. They are also appropriate for interested students, home schoolers, and newcomers to the topic of economics.
Since about 1970, an important strand of economic research, sometimes referred to as information economics, has explored the extent to which markets and other institutions process and convey information. Many of the problems of markets and other institutions result from costly information, and many of their features are responses to costly information. Many of the .. MORE
International capital flows are the financial side of international trade.1 When someone imports a good or service, the buyer (the importer) gives the seller (the exporter) a monetary payment, just as in domestic transactions. If total exports were equal to total imports, these monetary transactions would balance at net zero: people in the country would .. MORE
Until the so-called Keynesian revolution of the late 1930s and 1940s, the two main parts of economic theory were typically labeled “monetary theory” and “price theory.” Today, the corresponding dichotomy is between “macroeconomics” and “microeconomics.” The motivating force for the change came from the macro side, with modern macroeconomics being far more explicit than old-fashioned .. MORE
-F. A. Hayek
-Adam Smith Full Quote >>
-Adam Smith Full Quote >>