Given that Africa has the world’s youngest population, the lack of steady, formal-sector jobs is an enormous political and economic risk factor. Unemployed youth are more likely to be criminals, may be lured into militant groups, and contribute to political unrest.
People sometimes ask me, “What is the most important concept in political economy?” The answer is easy, but subtle …
What a rip-off! Here’s what you’re really paying for when you buy the stuff you want. Watch more with Professor Dan Russell.
Why did poverty decrease so much over the past 200 years, and especially over the past 30 years? Let’s look at one key example; then we’ll zoom out to the broader research.
Behavioral economics helps you understand dating, partying, college loans, voter ignorance, and all the choices humans make. Here’s our full series.
The locavore movement, like many parts of environmentalism, has an unfortunate tendency to dress itself in the clothing of science before lapsing into mysticism.
Marx wanted to end inequality, but he said redistributing wealth was the wrong way to do it. Watch more with Dr. Russell.
In times of disaster it’s natural to try to find a silver lining — but don’t go looking for it in broken windows. Not only is this line of thinking flawed, but it’s also patronizing to those whose lives have been affected by this tragedy.
To make sense of Karl Marx or even Adam Smith, you need to see the way they looked at prices — through the labor theory of value.
Over the last several seasons, top-tier players like LeBron James, Kevin Durant and Chris Paul appear to be self-selecting themselves onto teams with other top-tier players.
The invisible hand of the market reaches out to help people in a disaster, but anti-gouging laws cut it off at the wrist.
What if the government can’t solve our problems because the government doesn’t really exist? Prof. Mike Munger explains his “unicorn” theory of the state.
How can poor countries escape poverty? They need more than foreign aid. They need a legal system that lets them represent their assets, exchange stuff, and make each other rich.
Millennials may talk the socialist talk, but this look at the evidence shows they also walk a rather capitalist walk.
Today’s welfare system discourages aspiring for the American dream. What if we tried a universal basic income instead? Watch the full interview with Prof. Munger
Why do we have property instead of just sharing everything? Native peoples’ property rights in North America can give us a clue.
When politicians raise taxes on the rich, what do the rich do to protect their $$$? This Prof. shows how high taxes actually made America less equal.
The US government spends billions of dollars a year subsidizing American farms, providing massive benefits for some farmers and dispersing the costs among millions of taxpayers.
Last week, Professor Jeffrey Miron joined us on Reddit for an “Ask Me Anything” conversation as part of the Learn Liberty Reddit AMA Series. The conversation focused on Dr. Miron’s 30+ years of study on the effects of drug criminalization. Check out some of the highlights below. GPSBach While there seems to be an emerging consensus on […]
It looked … delicious. I was sure that it would taste delicious, too. But eating it would have been a bad idea for two reasons.
Property rules don’t explain everything. Sometimes, you need liability instead. Read Calabresi and Melamed’s groundbreaking paper here.
Why do people keep saying the ‘50s were more “equal” than today? Perhaps they forget how many people were in poverty — or what the major unions did to African-Americans.
I found piles of laundry in the bedroom, cans and bottles in the yard, and construction materials everywhere — not at all what the pictures had depicted.
A combination of drought, political instability and poor policies is threatening the lives of thousands. Fortunately, for some herders, insurance products are helping to make a desperate situation a little bit better.