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The Most Important Economic Idea

(October 13, 2016 07:47 PM, by David Henderson) Questioner: If there was one economic idea you could explain to everyone on earth, what would it be? Economist Steve Horwitz: The idea that prices are knowledge surrogates. Prices aren't mere numbers--they are [a] form of communication that goes beyond... (0 COMMENTS)
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Henderson on Thaler's Misbehaving

Business & Finance / Economics : EconLog

(October 4, 2015 10:41 PM, by David Henderson) University of Chicago economist Richard H. Thaler, probably the most important founder of "behavioral economics," is a fantastic storyteller. In his latest book, Misbehaving, he tells, ...

Henderson Review of a Peter Navarro Book

Business & Finance / Economics : EconLog

(October 12, 2016 06:40 PM, by David Henderson) Adam Davidson, in the New Yorker, highlights the thinking of Peter Navarro, a Ph.D. economist who is on Donald Trump's economic team. In 2010, I reviewed Seeds of Destruction, a book b...

Horwitz on Hoover's Economic Policies

Business & Finance / Economics : EconLog

(January 7, 2013 08:59 PM, by David Henderson) Many historians, most of the general public, and even many economists think of Herbert Hoover, the president who preceded Franklin D. Roosevelt, as a defender of laissez-faire economic ...

Consumer Surplus and the Presidential Election

Business & Finance / Economics : EconLog

(October 16, 2016 07:11 PM, by David Henderson) I woke up this morning at 4:30 a.m. and, as is my wont, reached for my iPhone. On it was a message I've never seen before. It told me that there was an activation lock on my phone. Whe...

Jeff Ely on Price Controls During Disasters

Business & Finance / Economics : EconLog

(October 30, 2012 02:34 PM, by David Henderson) I had thought that pretty much all economists agreed that price controls during disasters are a bad idea. But Northwestern University economist Jeff Ely has a different take. He writes...

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