Why do special interests gain so much control over government policy? Public choice economics can explain. To get notifications for all our new videos, click the bell above.
Is there evidence the gold standard is good for America? Here’s what Prof. Domitrovic told Federal Reserve Chair Janet Yellen. For more on the gold standard, watch.
Prof. Abby Hall explains why government agencies have an “incentive to expand.” Dave Rubin asks if we can roll them back.
Israel Kirzner showed us how entrepreneurs make the world better: they specialize in discovering missed opportunities. To learn more about entrepreneurs, click to watch.
Federal tariffs and slavery caused tensions that led to the Civil War. Video created with the Bill of Rights Institute to help students ace their exams. This is the fourth video in a series of nine with Professor Brian Domitrovic, which aim to be a resource for students studying for US History exams and to […]
Dear Ms. Murray, Your article in the Baltimore Sun (“A $15 minimum wage benefits Baltimore business”) almost completely ignores the most important economic argument against minimum wage laws: that they cause unemployment. Young people from awful schools in awful neighborhoods with skills worth only $8 an hour will not be hired at $9 an hour. […]
The job market is in the dumps, especially for young people. Luckily, politicians have come to the rescue! Trump promises he’ll be “the greatest jobs president that God ever created.” And Bernie plans to spend $18B to get our economy back on track. But if government takes tax money from some businesses to create jobs […]
The following post by Bryan Caplan appeared over at EconLog on March 1st, 2016. In 2007, I published The Myth of the Rational Voter: Why Democracies Choose Bad Policies. Every presidential election year, people ask for an update, and I normally say, “Nothing’s changed.” But 2016 really does look like an outlier. My thoughts: 1. […]
Join the F. A. Hayek Program for Advanced Study in Philosophy, Politics, and Economics on Thursday December 10th from 4:30-6pm for the inaugural event in the Buchanan Speaker Series featuring Roland G. Fryor, the Henry Lee Professor of Economics at Harvard University and faculty director of the Education Innovation Laboratory. Fryor’s current research focuses on education reform, […]
Last month’s record flooding in South Carolina brought renewed crackdowns on price gouging. But higher prices simply convey information – in this case that consumers should conserve and producers should produce. In this way, prices allow the shortages that occur in natural disasters to be alleviated. In the new Learn Liberty video below, Towson University […]
Some countries heavily subsidize companies within their own borders. Does this justify equally large subsidies in America? How else can companies compete internationally if they do not receive government funds, but their rivals do? Let us know what you think in the comments!
Did you know that Milton Friedman won the Nobel Memorial Prize in Economics in 1976?
Yesterday was Election Day and many exit polls reported historically low voter turnout. This follows a trend of low-voter turnout in recent elections. In 2014, for instance, voter turnout was the lowest since World War Two. In the video below, Georgetown economist Jason Brennan explores whether citizens should be forced to vote in order to […]
Richard A. Epstein is the inaugural Laurence A. Tisch Professor of Law and Director of the Classical Liberal Institute at the New York University School of Law. He is also the James Parker Hall Distinguished Service Professor of Law Emeritus and senior lecturer at the University of Chicago. He served as editor of the Journal […]
The economic and financial turmoil in Greece has been in and out of headlines frequently over the last few months. The Greeks claim austerity measures have only made things worse, while the EU claims Greece continues to fail the austerity measure put in place to receive future bailouts. In this video, we explain what has […]
Newly reelected Greek Prime Minister Alex Tsipras expects that by early 2017 Greece will be able to access bond markets, from which it has been virtually cut off since it lost investor confidence in 2010. If it is unable to meet this timeline, it will be forced to rely on further bailouts or go bankrupt. […]
Last week, Canada elected a new Liberal Prime Minister, Justin Trudeau, who has vowed to massively boost public spending and run several years of deficits, arguing that the “infrastructure deficit” is bigger than the fiscal deficit. He claims that such stimulus spending will spur economic growth. But in the video below, economist Stephen Davies looks […]
This opinion piece by professor Antony Davies appeared in the Washington Post on October 16th. Below is an excerpt. Metro takes its bizarre victim-blaming a step further, saying that in order to right these “safety wrongs” and bring ridership numbers back to those seen in the golden days, it will be forced to increase fares. […]
The capabilities of self-driving cars are growing rapidly, and some sources predict they will become the primary means of transportation by 2040. However, “Hundreds of thousands, if not millions, of people—truckers, cabbies, delivery people—drive for a living in the USA”, and these drivers are likely to lose their jobs if they could be replaced by self-driving […]
I have been making a mistake for most of my life. See, I’m an economist, and one of the things that attracted me to economics is the notion of the “ideal economy.” Of course, there are valid objections to the use of markets. There are people who cheat and commit fraud, and there are problems […]
Below is an excerpt of a post that appeared at Forbes.com on August 28th, 2015. According to an April 2015 symposium on the effects of illegal immigrants in the Southern Economic Journal, illegal immigrants actually raise wages for documented/native workers. Meanwhile, rules preventing illegal immigrants from getting driver’s licenses raise our car insurance premiums and […]
What happens when the government spends all of the tax revenue it collects? In 2013, the U.S. budget deficit was $680 billion dollars! Who eventually pays for this difference in tax revenue and government spending? Professor of Economics at Duquesne University Antony Davies explains in the following video on the worst fiscal milestone of every […]
We have lived in Providence, RI for almost four years. I still am not accustomed to the driving habits of Rhode Islanders. There are the ones I might have expected moving up here from Georgia: the honk when the light turns green but I don’t move fast enough, the infrequent use of turn signals when […]