Governments don’t work the way most people think they do. Public choice theory explores how voters, politicians, and bureaucrats actually make decisions. Prof. Antony Davies explains.
If you really want to understand how the world works today, you need to rethink almost everything you’ve been told about inequality. Prof. Antony Davies explains.
The next time someone starts explaining to you how government regulation is needed because corporations have the special privilege of limited liability, please channel Count Rugen.
In partly free societies, more intergenerational mobility isn’t always a good thing.
The media rarely celebrate ordinary people doing jobs for which they get paid. But the man selling several generators can be more impactful than the man giving one away.
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.
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.
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.
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.
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.
The rich get richer, and the poor get … cell phones, cars, and nice TVs? Prof. Mike Munger says we’re actually more equal than ever. Click to watch the full interview.
Property rights in a market economy can help us overcome negative externalities and create value for each other. Learn more with Dan Russell.
One entrepreneur’s invention cut world poverty and revolutionized manufacturing. Learn more with Steve Davies
The skills and technologies the US government develops to control foreign populations can boomerang back and be used against Americans. For the full interview click here.