Art Carden

Art Carden

Assistant Professor of Economics
Samford University

Art Carden is an Assistant Professor of Economics at Samford University in Birmingham, Alabama.  In addition, he is a Senior Research Fellow with the Institute for Faith, Work, and Economics, a Research Fellow with the Independent Institute, a Senior Fellow with the Beacon Center of Tennessee, and a member of the Adjunct Faculty of the Ludwig von Mises Institute.  He was a Visiting Research Fellow at the American Institute for Economic Research in 2008, 2009, and 2011 and he has had the honor of teaching in summer programs sponsored by the Institute for Humane Studies and the Ludwig von Mises Institute.  He contributes regular commentaries to Forbes.com and the Washington Examiner.

His research has appeared in journals like the Journal of Urban Economics, Public Choice, Contemporary Economic Policy, and Business and Politics, and his commentaries have appeared on Mises.org, USNews.com, and ForeignPolicy.com as well as in newspapers like the Tennessean, the Birmingham News, the Memphis Commercial Appeal, the Los Angeles Business Journal, the Orlando Business Journal, and numerous other outlets. Before joining the faculty at Samford, he taught economics at Rhodes College in Memphis and earned his PhD in Economics from Washington University in St. Louis.

 

Blog Posts

Here’s Who I’m Blaming for Hamilton’s Exorbitant Ticket Prices

The law of demand still applies even to overrated musicals.

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FBI’s Exoneration of Clinton Illustrates Danger of “Two Americas”

Many people are shocked that Hillary Clinton’s “extreme carelessness” has not been prosecuted for “gross negligence.” It’s led a lot of commentators to conclude that there is one set of rules…

Getting Rid of Inheritances Still Wouldn’t Solve America’s Inequality Problem

Should we allow the wealthy to pass on large inheritances to their children and grandchildren? After all, allowing one generation to transfer large sums of money to another seems to exacerbate…

The Consequences of Ignoring Economics in Public Policy

Why does economic education matter? Look no further than the ongoing crisis in Venezuela, where the Washington Post is reporting that food shortages are so bad that people are attacking food…

Muhammad Ali Defeated A Lot Of Opponents. He Cannot, However, Defeat The Laws Of Supply And Demand.

Editor’s note: This post originally appeared at Forbes. ESPN is reporting there’s outrage among some observers that people are scalping their “free” tickets to Ali’s memorial service in Louisville. Just as…

All I Wanted Was Some Skittles

You know, some Skittles would be really good about now. Lunch was over and I wanted something sweet, Skittles specifically, as I’ve rediscovered a taste for them during my daughter’s last…

Greener than Thou?

I have a confession to make. I don’t recycle as many people understand the term. I try to reduce and reuse-I “recycle” shirts, towels, dishes, and the like in that…

Shouldn’t Big Businesses Just Be Nicer?

A small group of workers walked out at Walmart on Black Friday 2012, and the company has been for a few decades now a leading emblem of what is supposedly…

Should I Go to Grad School?

Should I go to grad school? I’ve benefited enormously from great advice from friends and mentors like Pete Boettke, Tyler Cowen, Deirdre McCloskey, Mike Munger, John Nye, and many others…

Yes, We Can Get Richer by Doing One Another’s Laundry

Maybe you’ve heard this slogan: “we can’t get rich doing one another’s laundry.” It’s a sneer at low-skill jobs in the service sector and it is sometimes used to persuade…

How Amazon Turns Trash Into Treasure

I use a lot of books in my line of work. I can get a lot of them from the library. I use Amazon’s Kindle app to download a lot…

All McDonald’s Hamburgers Taste the Same, But You’ll Need a Crash Course in Economics to Know Why

Markets can be regulated by the figurative force of competition or by the literal force of government. Which better protects buyers and sellers? Contrary to popular belief, regulation by competition…

Will More Immigrants Make Americans Worse Off?

What do we learn if immigrants lower the wages of American high school dropouts? That we should restrict immigration? No. We shouldn’t. First, if immigrants reduce the wages of high school…

Your City Probably Doesn’t Need a Government-Financed Stadium or Convention Center

The first time I ever voted, I voted badly: I voted for a plan to use government money to build a soccer stadium and hockey arena in Columbus, Ohio, where…

Tax Shield: The Tax man and the Aspiring Minimalist

Fill in the blank: “He who dies with the most toys _______________.” If you answered “dies,” award yourself full credit. If you answered “wins,” read on and revisit your answer when…

Marijuana Legalization in the United States: What Can We Expect?

More of the United States are legalizing medical marijuana, and voters in two states—Washington and Colorado—voted to legalize marijuana for recreational use a few years ago. The legalization is subject…

Will You Vote Well?

What should you read between now and Election Day? If you’re only going to read one political book, you should make it Jason Brennan’s The Ethics of Voting. If you’re…

Wait: Why Would a Liquor Store Want to be Forced to Close on Sundays?

Alcohol laws are some of the most headache-inducing rules on the planet. Recently, AL.com ran an article about Sunday alcohol sales in Alabama with notes about how you can buy…

Bureaucratic vs. Business Management in Health Care

The health care debate has been long on hysterics and short on useful analysis. Incendiary and counterproductive rhetoric about socialism, Nazis, and death panels from some corners notwithstanding, critics of…

Uber and the Sharing Economy: A New Way of Living

Earlier this year, I was making travel arrangements for a trip to Charleston. I booked my flight and hotel, and was about to book a rental car when I thought…

Programs

Personal Finance

Videos

How Can I Land a Date With Halle Berry? [#KeepAskingWhy]

Keep Asking Why is a new weekly video series (updating every Wednesday!) from Learn Liberty, where we take your questions, give them to our professors (no matter where they are…

Life of Debt? How to: Obliterate Debt, Accumulate Wealth, and Retire Rich

Whatever kind of debt you owe, Learn Liberty Academy wants to help you relieve yourself of the burden. Engage in weekly webcasts, a discussion forum, and more — and you…

The Interactive Great American Taxing Game: Oil Companies

It’s the Great American Taxing Game and you have chosen to tax oil companies. So what happens if you increase these taxes? And, perhaps more importantly, who will pay these…

The Interactive Great American Taxing Game: Intro

Join the Great American Taxing Game with your host, Professor Art Carden. The question posed is who should be taxed. If you were a government official trying to raise revenue,…

Specialization and Trade: Because We Can’t Be Good At Everything

Professor Art Carden is able to mow his yard, build a fence, and install a faucet all at the same time. How? He does this by specializing through trade. Rather…

Should the Government Subsidize…Silly Walks?

Would developing more silly walks benefit society? Possibly. But who will pay for them? Professor Art Carden regrets that the only way he can come up with to receive payment…

Existentialist School of Economics

(We hope you enjoyed our slightly-over-the-top April Fool’s release – LL) The truths governing economic order are hidden from ordinary men. Glimpses have been given to far-sighted dynamos. Nicolaus Copernicus wrote…

A Quick History of War, OPEC, and Gas Prices

Historical trends in gas prices can largely be explained by changes in supply and demand. Demand for oil rose through the 20th century. Although this put upward pressure on price,…

Why Are Gas Prices So High?

Rising gas prices fuel public outrage, and the popular explanation is that unscrupulous oil companies are taking advantage of helpless consumers. This makes a good story but, as Professor Art…

The Story of Broke Response

Prof. Art Carden responds to “The Story of Broke“, a recent video by the creators of “The Story of Stuff.” In “The Story of Broke,” Annie Leonard claims that the…

Economics on One Foot

How quickly could you sum up the principles of economics? While standing on one foot, Prof. Art Carden discusses the following economic principles in just over two minutes: Individuals strive to…

What Should We Think About Chain Stores?

Are chain stores good or bad? According to Prof. Art Carden, there are reasons to both like and dislike chain stores. The reasons to like chain stores include their ability…

The Broken Window Fallacy

Does destruction create jobs? After natural disasters, terrorist attacks, and wars, some people argue that these disasters are good for the economy, because they create jobs and prosperity. As Prof.…

“Trade Is Made of Win,” Part 3: Conservation

Prof. Art Carden explains how trade not only creates wealth, but conserves both wealth and resources. When people have access to trade, they can produce the things they make efficiently,…

Haiku: The Laws of Supply and Demand

Have you ever stated economic principles as haiku? Have you tried? Economics professor Art Carden takes the challenge in this short video on the laws of supply & demand.

“Trade Is Made of Win,” Part 2: Cooperation

Prof. Art Carden examines how trade creates wealth, by allowing people working together to produce more than they could individually. Using a simple two-person example, he shows another example of…

“Trade Is Made of Win,” Part 1: Wealth Creation

How does trading make people better off? Economics professor Art Carden explains in this quick lesson on one of the most important concepts in Economics 101: trade creates wealth. Part…