Tag: incentives
Why is college so expensive?
January 19, 2024 | Post
To find out why college is so expensive and why student debt has reached crisis point, we need to dig deep into a maze of factors that ultimately leave the government with a lot to answer for.
Inefficiency and unintended consequences: why environmental regulations typically fall short
May 30, 2023 | Post
In an era marked by growing concerns about climate change, the role of government in addressing environmental issues has become increasingly prominent. However, as billions of dollars are poured into climate change programs and regulations, it is essential to critically examine the true impact and costs of these initiatives.
Markets work with altruism, too
April 4, 2017 | Post
The market can route self-interest toward the common good. But the market channels altruism better than the state too.
Democracy rewards those who lust for power.
March 20, 2017 | Post
The incentives politicians face reward the concentration and consolidation of power.
Airport economics: The tragedy of the overhead bins
March 20, 2017 | Post
Here are three economic principles you’ll see between security and takeoff.
Patents are out of control, and they’re hurting innovation
March 14, 2017 | Post
The government issues thousands of new patents every week — each one a new regulation — with little to no oversight or review.
Thinking through your March Madness bracket pool
March 10, 2017 | Post
It’s time to address America’s most pressing annual question: What’s the best way to fill out your NCAA Men’s Basketball bracket?
Why Sessions is sailing and DeVos is struggling
February 7, 2017 | Post
Trump’s cabinet appointments and the opposition to them reveals some important lessons for the role of interest group dynamics in the political process and its relationship to furthering a free and responsible society.
Car crashes and hockey fights — how safety mandates can make life more dangerous
January 16, 2017 | Post
Suppose you want to reduce deaths in automobile accidents. Should you make cars safer? Seems like a no-brainer, right? But consider: suppose instead of an airbag in your steering column, we put a six-inch dagger.
The myth of draining the swamp
December 13, 2016 | Post
Draining the swamp may be a popular political slogan, but unless the swamp is restructured and significantly reduced, even the best of us on our worst days will use political office to enhance our power at the expense of others.
Let’s replace the college football selection committee — with math.
December 6, 2016 | Post
As with so many dynamic systems in society, developing the proper incentive structures leads individuals pursuing their own self-interest to generate desirable outcomes for the entire group.
In democracy, minorities are ignored and the voters are ignorant.
December 2, 2016 | Post
The following is the third installment in a five-part debate between Jason Brennan and Philip Pettit on the legitimacy of democracy as a system of social order.
The right drug policy: decriminalize and discourage
November 18, 2016 | Post
Drug prohibition has failed, but legalizing harder drugs is not the solution.
Can economics make baseball more fun for fans?
November 11, 2016 | Post
Sports are a terrific lens for focusing in on the process of decision-making — they’re almost laboratories for incentives.
The best films to teach your friends about economics and government
November 10, 2016 | Post
Here are three movies that can help to demonstrate the concept of public choice theory in action.
People hate Hillary Clinton because she is good at her job
November 8, 2016 | Post
As Hayek explained, adherence to principle means that there are some things one will not do to attain one’s ends. Such an individual is at a disadvantage in the winner-take-all process that determines who wields political power.
Partisan politics makes smart people stupid
November 8, 2016 | Post
Highly informed voters are also highly biased. That’s a serious problem for democracy, but also for any other system of political decision-making in big groups.
Election 2016: politics when government becomes a weapon
November 4, 2016 | Post
As Hayek long argued, a free society is governed by general, abstract rules that are equally applicable to all persons, including government actors.
The welfare state is a (bad) polygamist
October 20, 2016 | Post
The road to tyranny is paved with good intentions.
To Reduce Concussions in the NFL, Reduce the Amount of Equipment
October 4, 2016 | Post
When the costs of risky behavior are reduced, people tend to increase the amount of risky behavior they engage in.
How Americans Can Use Economic Principles to Fight Terrorism
October 3, 2016 | Post
As professor Anne Bradley shows in this piece, the economic way of thinking can help us prepare for and respond to acts terrorism.
Why Government Doubles Down on Policy Mistakes
September 30, 2016 | Post
“Nothing is so permanent as a temporary government program.” — Milton Friedman
To Vote or Not To Vote, That Is The Question
September 25, 2016 | Post
Why not vote? Some experts sound off.
Is the 2016 Election Rigged?
September 21, 2016 | Post
The really radical idea behind the rule of law is that the lawmakers themselves are not above the law. It is “the law” that rules, not those who make and enforce the law.