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Hoover Daily Report items by Russell Roberts

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October 9, 2013 | Daily Beast

Janet Yellen Won’t Change the Fed

She hails from Berkeley and, some supporters hope, will make the Fed less beholden to Wall Street. But Russ Roberts says we’re in for more of the same bank-friendly policies.
March 20, 2013 | Zócalo Public Square

"Should We Have Let Wall Street Go Bust?"

February 21, 2013 | The European

Know Your Limits

October 21, 2011 | Foreign Affairs

Occupy Wall Street and Washington's History of Financial Bailouts

Protesters in Lower Manhattan are missing the point. The so-called "one percent" actually does a lot of good. It's Washington's willingness to bailout banks that is the real problem...
September 29, 2011 | Wall Street Journal

Elizabeth Warren and the Blessings of Government

If the state stuck to public goods like roads, police and education, we might feel better about paying our taxes...
September 17, 2011 | Boston Globe

Political reality overtakes principles so winner won’t matter

Who wins the election of 2012 will matter. But it’s not likely it matters nearly as much as the partisan fever suggests. My advice is to be less partisan. Care less about who wins. That will soften the blow when your favorite candidate or party betrays you in response to political reality...
June 22, 2011 | Wall Street Journal

Obama vs. ATMs: Why Technology Doesn't Destroy Jobs

Doing more with less is what economic growth is all about...
June 28, 2010 | Wall Street Journal

Why Friedrich Hayek Is Making a Comeback

The stimulus package was passed with much talk of Keynesian multipliers and boosting aggregate demand. But now that the stimulus has barely dented the unemployment rate, and with government spending and deficits soaring, it's natural to turn to Hayek.

May 17, 2010 | EconTalk

Roberts on the Crisis

Russ Roberts, host of EconTalk, discusses his paper, "Gambling with Other People's Money: How Perverted Incentives Created the Financial Crisis..."

February 27, 2010 | Wall Street Journal

Is the Dismal Science Really a Science?

For an economist, these are the best of times and the worst of times. . . .

October 15, 2009 | NPR

As Goldman Gloats, What Does It Matter For Us?

Should we care about Goldman's profits and compensation?...

August 25, 2009 | NPR

Will Time Prove Ben Bernanke Wrong?

President Obama has reappointed Federal Reserve Chairman Ben Bernanke, praising his creativity in preventing another Great Depression...

February 25, 2009 | NPR

Halve The Deficit? Good Luck, Obama

In his first address to a joint session of Congress, President Obama pledged to cut the federal budget deficit in half in four years...

February 2, 2009 | Boston Globe

Stimulus just digs debt hole deeper

THE HOUSE has passed an $819 billion spending package...

January 23, 2009 | Forbes

A Radical Re-Imagining Of The Tax System

President Obama is eager to attack the economic crisis...

November 20, 2008 | Forbes

How To Move The Economy Forward?

President-elect Obama announced the other day that the government would do "whatever it takes" to revive the economy...

November 14, 2008 | NPR

Credit Markets Stalled While Waiting Game Played

Secretary Paulson might be the only person in America who worries that consumers haven't borrowed enough money...

October 31, 2008 | Wall Street Journal

Don't Just Do Something. Stand There.

People ask me if the current mess feels like 1929...

October 3, 2008 | Wall Street Journal

How Government Stoked the Mania

Many believe that wild greed and market failure led us into this sorry mess...

September 18, 2008 | Forbes

Organic Market

The collapse of Bear Stearns and Lehman Brothers, and the bailouts of Fannie Mae, Freddie Mac and AIG, have led to an inevitable call for more regulation...

March 25, 2008 | NPR

Does Bear Stearns Bailout Set a Bad Precedent?

Wall Street is all about profit....

January 30, 2008 | Wall Street Journal

Ode to the Patriots

You're rooting for the Patriots to lose...

January 16, 2008 | NPR

Economist: Don't Jump the Gun on Stimulus Plans

Love that word—stimulus...

November 12, 2007 | Foreign Policy

Why We Trade

To hear most politicians talk, you’d think that exports are the key to a country’s prosperity and that imports are a threat to its way of life...

March 18, 2007 | Los Angeles Times

Can you be too rich?

Economists can tell you, using publicly available data, that income inequality is growing in the United States...

March 12, 2007 | Wall Street Journal

Protectionists Never Learn

I'm thinking of a country...

February 17, 2007 | Los Angeles Times

Workers are fine with fewer unions

Labor unions' importance in the workplace has fallen steadily since 1950, when roughly a third of American workers were unionized...

February 7, 2007 | Boston Globe

Penalty called on college football

We call football a game...

December 6, 2006 | TCS Daily

Milton's Inner Fire

I last saw Milton Friedman a few days shy of his 94th birthday, just a few months ago...

November 6, 2006 | Boston Globe

The rotary's gone, but the Cape's problems aren't

The Sagamore rotary is gone, and the rejoicing is near universal.

Blogs

March 26, 2014 | Cafe Hayek

Murray Weidenbaum, 1927-2014

Murray Weidenbaum passed away last week. What a full career and life he had. He worked for Boeing, served in numerous Presidential administrations, wrote academic articles, and was a superb and conscientious teacher. The combination of business, government, and academia
January 29, 2014 | Cafe Hayek

Real Prosperity

This week’s EconTalk is one of my favorite episodes in a long time–Nina Munk talking about her book, The Idealist, the story of Jeffrey Sachs’s attempts to end poverty. There is much to learn from Munk’s story of the six
January 21, 2014 | Cafe Hayek

Unintended Consequences

Sometimes, when you try to achieve something, you don’t just fail to do it, you actually achieve the opposite. News from the World Economic Forum (WEF): Two years ago WEF introduced a quota system to encourage female participation, which demanded that
January 10, 2014 | Cafe Hayek

The Income Puzzle

There are lots of claims about inequality and what is really going on. But this chart makes whatever explanation you believe in harder to explain. Chew on it. Be Sociable, Share! TweetComments comments
January 7, 2014 | Cafe Hayek

Economics vs. Engineering

Francis Spufford at Redplenty.com (a site devoted to his novel on Soviet planning) has a page of Soviet jokes. Here is one I found particularly interesting: Yuri Gagarin’s daughter answers the phone.  ‘No, mummy and daddy are out,’ she says. 
December 23, 2013 | Cafe Hayek

They’re all Bootleggers

Fabulous article by Cathy Reisenwitz (HT: Arnold Kling), where she explains that corporations seek profit and one way to do that is to influence legislation. What’s interesting to me is how hard it is for some people to absorb this
December 5, 2013 | Cafe Hayek

Presidential Economics

Here is President Obama’s summary of what happened to economic life in America after the late 1970′s: As values of community broke down, and competitive pressure increased, businesses lobbied Washington to weaken unions and the value of the minimum wage. 
November 22, 2013 | Cafe Hayek

The Curious Task

The real problem with ObamaCare isn’t the web site. The real problem is that ObamaCare tries to manipulate the insurance market in ways that people didn’t expect and don’t like. Sandhata Somashekhar and Ariana Eunjung Cha report in the Washington
November 19, 2013 | Cafe Hayek

Inequality in Two Graphs

I have written many times that the subsidies to Wall Street and its employees have distorted economic outcomes for a handful of folks relative to the rest of us. So I want to start by pointing out that there is
November 13, 2013 | Cafe Hayek

When Facts Aren't Facts

One standard explanation for the increase in measured inequality over the last few decades is that innovation has enhanced the productivity of highly educated people more than the productivity of less educated people. That in turn has increased the wages
November 11, 2013 | Cafe Hayek

Why It's Hard for Politicians to Stop Coddling Wall Street

Noam Schreiber at the New Republic has an interesting piece on the division in the Democratic Party over how to treat the rich, particularly the rich members of the financial sector who benefit from government coddling: On one side is
October 24, 2013 | Cafe Hayek

Black Box Macro

My EconTalk conversation with Guillermo Calvo has me thinking the tendency of macroeconomists to see the economy as a black box. In black box macro, we don’t have to worry about the complexity of what’s going on inside, not because
October 21, 2013 | Cafe Hayek

Hard Cop. For Now. Until the Next Time.

The WSJ decries the role of government in the financial sector: The tentative $13 billion settlement that the Justice Department appears to be extracting from J.P. Morgan Chase needs to be understood as a watershed moment in American capitalism. Federal law enforcers
October 17, 2013 | Cafe Hayek

Goodies

The Hill reports that there are a number of goodies in the bill that re-opens the federal government. Or maybe baddies is the right word. My two favorite sections are 123 and 146: SEC. 123. Section 3(a)(6) of Public Law
October 16, 2013 | Cafe Hayek

John Ralston Saul on Knowledge and Human Nature

I’ve been reading Voltaire’s Bastards by John Ralston Saul in preparation for an upcoming episode of EconTalk. It’s a fascinating book–bombastic, thought-provoking, wide-ranging. It’s thesis is that our worship of reason has spawned some very unhealthy cultural results. He condemns
October 10, 2013 | Cafe Hayek

A Different Path for the Fed

Amar Bhidé makes the case for more rules and less discretion at the Fed. More rule of law. Less rule of woman. An excerpt: America’s system of government imposes particularly strict constraints on officials’ actions, reflecting a deep-rooted skepticism of
October 2, 2013 | Cafe Hayek

Politics Trumps Economics

I (Russ) was at the Hoover Institution yesterday listening to a joint Hoover—Brookings conference on the US financial system in the aftermath of the crisis. There were some big picture sessions and some focused sessions (on Too Big to Fail
September 24, 2013 | Cafe Hayek

The Real Competition

In everyday life, people sometimes think of competition as something that takes place between buyers and sellers–the buyer wants a low price and the seller wants a high price. They seem to be in conflict. But the real competition is
September 18, 2013 | Cafe Hayek

Ritholtz and the Big Lie

Barry Ritholtz accuses Mayor Bloomberg of helping to spread the Big Lie about the financial crisis. The Big Lie made a surprise appearance Tuesday when New York Mayor Michael Bloomberg, responding to a question aboutOccupy Wall Street, stunned observers by
September 17, 2013 | Cafe Hayek

The Great Reset?

Tyler Cowen points out that the median household is not doing very well lately, noting that real median household income was 8.3% lower in 2012 than it was in 2007. Pretty depressing. The headline of his post is The Great
September 12, 2013 | Cafe Hayek

Shame on Joe Stiglitz, Part II

A while back I posted on a cheap shot that Stiglitz took at Gary Becker on the New York Times web site. Here’s what Stiglitz wrote on the 50th anniversary of Martin Luther King’s “I Have a Dream” speech: Another
September 4, 2013 | Cafe Hayek

Capitalism, Government, and the Good Society

Last April, Liberty Fund and Butler University sponsored a symposium on capitalism, government, and the good society. I was the host. Mike Munger, Robert Skidelsky, and Richard Epstein each spoke on the topic. (Jamie Galbraith was invited but weather forced
September 3, 2013 | Cafe Hayek

New York City Tax Economics

Fabulous article by Nicole Gelinas in the New York Post on the NYC Mayoral candidate’s proposal to increase tax rates on the rich to fund a longer school day for pre-K children. Read the whole thing but here are a
September 3, 2013 | Cafe Hayek

The Intellectual Bankruptcy of Macroeconomics

Gregg Easterbrook in an excellent essay on the NFL’s legal problems and lots of other stuff, digresses on the sequester: Last week’s word that the GDP grew at 2.5 percent in the second quarter is strong economic news; the jobs report due
August 28, 2013 | Cafe Hayek

It's Hard to Stop Market Forces

If you’re a sports fan, you’ll know that Johnny Manziel (last year’s Heisman Trophy winner) has been under investigation for selling autographs. He has evidently been cleared of that offense but has received a .5 game suspension for a milder
August 25, 2013 | Cafe Hayek

The French Model

Sometimes the impact of a set of policies is not obvious immediately. When Japan was riding high in the late 1980′s, a lot of people suggested that their model was one to emulate. Their public/private partnership with lifetime employment seemed
April 15, 2013 | Cafe Hayek

Munger on Exchange

April 8, 2013 | Cafe Hayek

Econ 101 and the Minimum Wage

February 19, 2013 | Cafe Hayek

Imagining A World of Minimum Wages

February 1, 2013 | Alamogordo Daily News (New Mexico)

Bring On the Savings! (But No Hurry)

November 8, 2012 | Cafe Hayek

Some Post-Election Cheer and Encouragement

November 6, 2012 | Cafe Hayek

What if Obama Wins?

November 4, 2012 | Cafe Hayek

Who's Going to Win?

October 31, 2012 | Cafe Hayek

A Blast From the Past

October 30, 2012 | Cafe Hayek

Who is Worse?

October 15, 2012 | Cafe Hayek

Krugman's Body Count

September 30, 2012 | Cafe Hayek

Keynes, Savings, and the Jews

September 12, 2012 | Cafe Hayek

Some Resources For Teachers (And Students)

September 5, 2012 | Advancing a Free Society

Data Matters: The Numbers Game With Russ Roberts

September 5, 2012 | Cafe Hayek

Joining Hoover Full-Time

August 31, 2012 | Cafe Hayek

Romney’s speech

August 30, 2012 | EconLog

Competition

August 22, 2012 | Cafe Hayek

Changes in the Disability Rolls

August 20, 2012 | Cafe Hayek

Taxi Scientism

July 6, 2012 | Cafe Hayek

Motives vs. Results

June 26, 2012 | Cafe Hayek

Two Different Stories

June 12, 2012 | Cafe Hayek

Compared to what

When deriding the Estonian recovery and the benefits of austerity, the right question would be, compared to what...
June 11, 2012 | Cafe Hayek

In a complex system, bias reigns

[When someone tells] you that government creates jobs, just ask them how they know. Their answer will be that someone with exemplary credentials says so. But there are those with exemplary credentials who say otherwise...
May 30, 2012 | Cafe Hayek

Living within your means is so inconvenient

Creating a banking union to “share the burden of bank failures” makes the “other people’s money” problem worse–it pushes the consequences of irresponsibility further from those who are irresponsible...
May 10, 2012 | Cafe Hayek

Alternatives to austerity

What should you do when you find out that you can’t pay your bills?...Greece is in this boat. They may soon be joined by others. I hope the US gets on a different boat...
May 6, 2012 | Cafe Hayek

The austerity experiment

I have seen many articles on austerity. I can’t remember seeing any that suggest that government spending in any European country has actually fallen...
May 3, 2012 | Cafe Hayek

DeLong asks Krugman a question

Brad Delong asks Paul Krugman to explain the behavior of Milton Friedman’s disciples as the crisis lingers here and gets worse in Europe...There are four pieces of “policy activism” that are not like one another...
April 19, 2012 | Cafe Hayek

The Isaacson biography of Steve Jobs

I have been listening to the Audible version of Walter Isaacson’s biography of Steve Jobs (hardcover, Kindle, Audible) while I’ve been working out...
April 11, 2012 | Cafe Hayek

We owe it to ourselves

I guess Rick Santelli didn’t get the memo that we don’t have to worry about debt because we owe it to ourselves...
February 26, 2012 | Cafe Hayek

The insanity of health insurance

It is insane that we get our health care from our employers...
February 16, 2012 | Cafe Hayek

Inequality and Stagnation

The fact that the world looks dramatically more prosperous may be due to cloudy vision, or bias. But they do cause you to wonder if the data that are being used to measure stagnation are not completely accurate or perhaps the data are distorted by the way they’re collected...
January 25, 2012 | Cafe Hayek

Mitch Daniels’s news flash

If the goal is to save the system in some form akin to its current state, making the welfare component of Social Security and Medicare is a good place to start...
January 10, 2012 | Cafe Hayek

Be careful what you wish for

As F.A. Hayek observed in The Fatal Conceit: “The curious task of economics is to demonstrate to men how little they really know about what they imagine they can design”...
January 3, 2012 | Cafe Hayek

More on Fannie and Freddie and the crisis

The right argues that the cause of the crisis was that the government made banks (Fannie and Freddie and CRA) buy bad loans. The left argues the government through deregulation let investment banks run amok. Each is partially correct...
December 13, 2011 | Cafe Hayek

Lehman

Correlation is not causation. A lot of bad things happened after Lehman failed. But there is little evidence that letting Lehman fail caused those bad things...
December 13, 2011 | Cafe Hayek

Hayek’s Gift

Here are 90 seconds of conversation between Keynes and Hayek announcing the opportunity to buy some Keynes/Hayek paraphernalia...
December 8, 2011 | Cafe Hayek

Reason #1 why Newt Gingrich is a little bit frightening

Reason #1 comes from a blog post by Josh Barro who digs up this interview with Gingrich. It’s not exactly an interview. It was conducted by Freddie Mac (whatever that means) and posted on Freddie Mac’s website...
December 7, 2011 | Cafe Hayek

What’s worse than an apocalypse?

If the threat of banks taking a haircut risks the apocalypse, then we may as well admit the game is over. Just give the banks our wallets and checkbooks and go home. It’s the end of capitalism and the end of democracy. I’d prefer an apocalypse...
December 6, 2011 | Cafe Hayek

F.A. Hayek, economist

Was Hayek an important macroeconomist? I would argue that the macroeconomic skepticism of the later Hayek is more valuable than the macroeconomic theorizing of the early Hayek...
November 30, 2011 | Cafe Hayek

Even less precise

CBO “estimates” of the effect of stimulus on employment in the the third quarter of 2011 are even less precise than earlier ones...
November 28, 2011 | Cafe Hayek

Nudging us to death

My biggest problem with nudging people [in the right direction via program design or tax incentives] is that the process could would likely be corrupted via special interests...
November 19, 2011 | Cafe Hayek

The cause of the crisis (and how to prevent the next one)

One standard narrative of the cause of the financial crisis coming from people generally on the left is that a free-market ideology blinded policy-makers...What this narrative ignores are other government policies that raised the likelihood of irresponsible investing...
November 2, 2011 | Cafe Hayek

Breaking news: creditors lose money in MF Global collapse!

The collapse of MF Global, a highly leveraged gambler on Europe’s fate using other people’s money means that those who funded those gambles have lost virtually all of their money...
October 31, 2011 | Cafe Hayek

Krugman, Keynes, and war

Krugman writes: First things first: Military spending does create jobs when the economy is depressed...
October 27, 2011 | Cafe Hayek

I don’t understand aggregate demand

Does an increase in aggregate demand increase employment? Yes, if by an increase in aggregate demand you mean people buying and selling more from each other where buying and selling includes consumers and manufacturers...
October 12, 2011 | Cafe Hayek

Truth-seeking and ideology

I don’t view my view as anti-scientific but rather a view that recognizes the limits of knowledge and the tools we use to measure the impact of government on the economy. It is not scientific to use science for tasks it cannot achieve...
October 9, 2011 | Cafe Hayek

Poor Sales

Invictus over at The Big Picture wants Charlie Rose to ask this question of the GOP candidates...
September 28, 2011 | Room for Debate (New York Times)

Rules by Insiders, for Insiders

Part of the reason you don’t understand Basel III (or Basel II or Basel I) is because international finance has its own language, and international finance is a little bit complicated. But the main reason you don’t understand them is because you’re not meant to...
September 20, 2011 | Cafe Hayek

My challenge to Tyler

You hear this claim about median income all the time (and you are going to hear a lot more between now and November 2012) and I do not understand it. What is it supposed to mean...?
September 19, 2011 | Room for Debate (New York Times)

Stop Coddling the Financial Sector

For the last 25 years, Washington politicians and policy makers have consistently cushioned the market forces that would have punished executives at large financial institutions...
September 8, 2011 | Cafe Hayek

Everything that’s wrong with macroeconomics

This quote from the New York Times article on the president’s speech, highlights everything wrong with macroeconomics as practiced in the public domain...
September 6, 2011 | Cafe Hayek

My druthers

My preferred policy is to eliminate both [Social Security and Medicare] and treat adults like adults...But if we end up keeping some form of Social Security and Medicare, means-testing is the right way to go...
September 1, 2011 | Cafe Hayek

I’m from the federal family and I’m here to help you

The government has neither the information nor the incentives to allocate goods wisely in the face of a shortage or a catastrophe. It should do less leaning forward and more sitting back...
August 30, 2011 | Cafe Hayek

The Microeconomics of the Broken Window Fallacy

The usual point is that the money has to come from somewhere–we see the repaired window but ignore the things that don’t get built or bought. But I think a better way to tell the story is to point out that the RESOURCES have to come from somewhere...
August 21, 2011 | Cafe Hayek

Economic Ignorance

Nothing captures the state of economic education in America like the debate over Rick Perry’s job creation abilities...
August 4, 2011 | Cafe Hayek

Hoover and DeLong

The title of DeLong’s post is “Fiscal Policy During the Great Depression.” Which is what I’m interested in. I’m interested in what happened to overall spending...
August 3, 2011 | Great Debate (Reuters)

Entitlement reform would indicate maturity

Serious entitlement reform that reduces the long-run budget pressure would indicate maturity. That’s a better strategy than spending more money in the short run...
August 1, 2011 | Cafe Hayek

The aftermath

One of the complaints this morning after the debt deal is that we won’t be able to “stimulate” the economy any more. Yet, there is no evidence that the stimulus worked...
July 14, 2011 | Cafe Hayek

Keynes vs. Reality-2

In this earlier post, I noted this 1943 Paul Samuelson prediction...
July 7, 2011 | Cafe Hayek

Pulling back the curtain

The lesson here is how easy it is to get what you want politically by making the issue one of safety or the children...
July 5, 2011 | Cafe Hayek

Unemployment and education

Every level of education has a higher unemployment rate than before. But it seems that the least educated have the worst time and that the effect is much greater than in the recession of 2001...
June 29, 2011 | Cafe Hayek

Obama and manufacturing

President Obama spoke in Iowa the other day about the economy. In a sense, it was the launching of the re-election campaign. I thought it might be interesting to evaluate the economics and see what he thinks is going to be effective politically...
June 7, 2011 | Cafe Hayek

Eichengreen on the dollar

This week’s EconTalk is Barry Eichengreen talking about the dollar...For me, the most interesting part of the conversation was a discussion of China’s alleged currency manipulation to keep their exports high...
May 20, 2011 | Cafe Hayek

Capitalists never liked capitalism

Capitalists tend not to like capitalism...
May 19, 2011 | Cafe Hayek

Israel, Part 2

My recent post on Israel generated over 225 comments...
May 9, 2011 | Cafe Hayek

Easterly on Fukuyama

I think it’s Hayekian to be skeptical of systems where feedback loops don’t work very well. “More from the bottom up or more top down?” More bottom up, please...
May 4, 2011 | Cafe Hayek

Rising inequality

Planet Money reports on a new OECD study that finds that income inequality is rising worldwide within most countries...
May 4, 2011 | Cafe Hayek

What we’ve learned about Obama (and power)

Go back to the campaign of 2008, McCain (remember him?) and Obama...
May 1, 2011 | Cafe Hayek

Keynes and central planning

Barkley Rosser at EconoSpeak says John Papola and I have accused Keynes of having “a central plan” in our rap video...There’s only one problem with all this and that’s that the accusation against us is something of a straw man...
April 28, 2011 | Cafe Hayek

The Fight of the Century

My second rap video with John Papola is now live. Please spread it wide and far...
April 13, 2011 | Cafe Hayek

The housing boom and bust

Here is an updated version of Case-Shiller’s housing index for the country. It is of course somewhat misleading because there is not a national housing market. But it does capture factors that affect all housing markets...
April 13, 2011 | Cafe Hayek

The housing boom and bust, part 2

The role of government in the housing market goes back decades to the deductibility of mortgage interest, FDIC insurance, and the creation of Fannie Mae. But those interventions...weren’t the cause of the crisis. You have to find a change in government policy...
April 7, 2011 | Cafe Hayek

Coddled

We have a natural incentive to take care of ourselves. But if someone takes care of us, our impulse toward self-preservation lapses and gets rusty...
April 5, 2011 | Cafe Hayek

Bottom up vs. top down

...[T]here are fads in math education and the rest of education that are bad ideas. Do we really want those fads to take over. Or do we want competition...?
March 17, 2011 | Cafe Hayek

DeLong vs Cowen

A lower interest rate doesn’t mean that government production is less expensive. It means government borrowing is less expensive...
March 15, 2011 | Cafe Hayek

Some nuance on destruction

Destruction is bad for the economy and yes, even bad most of the time, maybe all of the time, for measured GDP. The remarks by Larry Summers (and by Krugman in the aftermath of 9/11) imply otherwise...
March 14, 2011 | Cafe Hayek

What Summers really really meant

I recently wrote about Larry Summers’s statement about the economic impact of the tragic events in Japan...The post generated 125 comments, a lively back and forth debating what Summers “really meant...” Let me try to help...
March 9, 2011 | Cafe Hayek

Bear vs. Lehman

Was the decision not to rescue Lehman the precipitating cause of the crisis? Or was it the decision months before to rescue the creditors of Bear Stearns via the marriage to JP Morgan Chase...?
March 4, 2011 | Cafe Hayek

The Great Distortion

Tyler argues in The Great Stagnation that the slow-down or stagnation in median income growth is due to a slow-down in technological change and innovation. Perhaps. But the numbers on median income are distorted by demographic change...
February 23, 2011 | Cafe Hayek

The alternative to unions

The bottom line–you don’t need a union to protect you from your employer. You need alternatives...
February 22, 2011 | Cafe Hayek

The power of the rich

...I do not believe we live in an oligarchy where the rich control the political process in the way they do in some other countries...
February 16, 2011 | Cafe Hayek

Congressional Testimony on the Stimulus

Text of my opening remarks before the Subcommittee on Regulatory Affairs, Stimulus Oversight and Government Spending of the House Committee on Oversight and Government Reform...
February 14, 2011 | Cafe Hayek

Budget puzzle

So what would be so hard about going back to the level of nominal spending in 2007 of $2.7 trillion? Why isn’t that proposal on the table...?
February 10, 2011 | Cafe Hayek

Psst

The latest EconTalk is Arnold Kling on what he calls PSST, Patterns of Sustainable Specialization and Trade. It’s a conversation about how to think about macroeconomics...
February 1, 2011 | Cafe Hayek

Robert Samuelson misunderstands

Writing in The Wilson Quarterly, Samuelson weighs the left and the right’s explanations of the crisis and finds them both wanting...But Samuelson misunderstands the important difference between creditors and equity holders...
January 25, 2011 | Cafe Hayek

Stagnation or mismeasurement?

Tyler has a new mini-book out on stagnation where he accepts the idea that median income has been growing very slowly for the last 40 years relative to earlier times. One challenge to this claim is that prices are mismeasured...
January 21, 2011 | Cafe Hayek

A thought experiment

In recent decades, China has become more integrated with the world economy. Has that been a good thing or a bad thing...?
January 19, 2011 | Cafe Hayek

The Crazy Housing Market

[W]hen we talk about why the housing went crazy between 1997 and 2007, let’s not stick with interest rates, capital flows, and animal spirits. Let’s remember the role of bad economic policy in the housing market and the financial sector...
January 18, 2011 | Cafe Hayek

Corrupt cronies

What we are living through now is the continuing of the looting process. Get the government out of the banking business. The process is corrupt. The cronies are winning. You and I are losing...
January 10, 2011 | Cafe Hayek

Scientism

In one sense, who cares if [economics] isn’t like physics? The problem is that too many economists and others treat it as if it were like physics. And most of these applications are silly, non-scientific and meaningless...
January 5, 2011 | Cafe Hayek

What is economics good for?

In three recent posts, I have argued that macroeconomics is deeply flawed and not a science. Or at least not scientific in the conventional sense of the word. Let me try to make my claims a little more precise and react to some of the comments...
January 4, 2011 | Cafe Hayek

The Test

Suppose the economy does well this year–growth is robust and unemployment falls. What is the reason for the improvement...?
January 3, 2011 | Cafe Hayek

Imperfect, but true

A few years ago, a journalist I respected asked me if NAFTA had been good for the United States, on net. I told him the question could not be answered empirically...
January 3, 2011 | Cafe Hayek

Robin Hanson on the technological singularity

This week’s EconTalk is Robin Hanson talking about the technological singularity–the possibility that a new era of technological improvement is around the corner that will make the current level of growth look primitive...
December 16, 2010 | Cafe Hayek

Mass prosperity

Some innovation was created by the government, though perhaps not cost-effectively. but most innovations have been driven by the potential for profit combined with a love of creating...
December 16, 2010 | Room for Debate (New York Times)

Do Estate Taxes Matter? A Moral Problem

I don't like the estate tax on moral grounds. It's wrong for the government to tax people twice, once when they earn the money and once when they give it away, if the giving away is done after death, an arbitrary and unpredictable deadline...
December 15, 2010 | Cafe Hayek

For the children?

First, education is not a national priority. It’s my priority to take care of my four children. But more importantly, please Mr. Van Hollen, give me just the tiniest bit of evidence that your concern for education actually does something for the children...
December 9, 2010 | Cafe Hayek

Capital markets vs. Wall St.

Yes, “deep, broad and efficient capital markets are a crictical pillar in the free market system.” That’s why I worry we don’t have a free market system...
December 8, 2010 | Cafe Hayek

What’s Wrong with Keynes

[This is] the latest version of my thoughts on Keynesian stimulus, the idea that spending creates prosperity or supports our economy or rescues it from the doldrums...
December 8, 2010 | Cafe Hayek

Tax cuts for the rich

A few observations on extending the Bush tax cuts...
November 19, 2010 | Cafe Hayek

Wrong goal

I was listening to Tony Kornheiser’s AM radio show this morning and referring to people who are upset about being groped patted down he said something like they were missing the goal of the whole thing which was to keep the plane from being blown up. But we know that’s not the goal...
November 17, 2010 | Cafe Hayek

Uncommon cents

At dinner the other night, one of my children asked me why we have coins...
November 10, 2010 | Room for Debate (New York Times)

Limiting What Central Banks Do

A recent column by Robert Zoellick suggested that he might favor a return to the gold standard...Zoellick’s remarks raise the important question of how central banks should be constrained...
November 4, 2010 | Cafe Hayek

The evil Apple empire

Maybe, we’d be better off as consumers with a more open property rights regime and allow other mechanisms than the state to emerge as a way to encourage incentives for creativity and innovation. But the desire of many to end intellectual property is not open and shut...
November 4, 2010 | Cafe Hayek

Seizing control

I know, it’s just an expression. But they didn’t seize control. The voters essentially gave the Republicans control...And if the Republicans don’t do a good job, the voters will let the Dems run the House again...
October 29, 2010 | Cafe Hayek

Making the world a better place

Greatness is all around us. It doesn’t come out of Washington. It comes out of you and me and how we live our lives...
October 8, 2010 | Cafe Hayek

Does government spending create jobs?

I was talking to a very bright friend the other day about government spending and Keynes. He said something like, well of course spending on infrastructure creates jobs, it has to...
October 8, 2010 | Cafe Hayek

A thought experiment

Talking to my same smart friend about World War II, he said, “Surely World War II created prosperity...
October 7, 2010 | Cafe Hayek

Austerity or prosperity?

When you ask Keynesians for empirical evidence of how government spending creates prosperity, their best and most frequently cited answer is how World War II ended the Depression–a massive, increase in deficit-financed government spending...
October 5, 2010 | Cafe Hayek

The Logic of Trade

The logic of trade is why I reject the idea that buying local, writ large, creates prosperity...
September 16, 2010 | Cafe Hayek

Finally, some evidence from Krugman

Paul Krugman has been beating the drum for more government spending for a long time. And now he finally has the evidence that proves his point...
September 15, 2010 | Cafe Hayek

The voice of reason vs. the voice of insanity

Maybe Edward DeMarco should be polishing his resume...We’re in the middle of the worst economic downturn of our lifetime. Government guarantees contributed mightily to the problem. But we need to continue with the system so we can have milder recessions in the future...?
September 15, 2010 | Cafe Hayek

What is to be done?

Those of us who are unimpressed with the effectiveness of using debt-financed government spending as a cure for the current state we’re in are often asked, OK, so what should we do instead...?
September 14, 2010 | Cafe Hayek

The romance of government vs. the reality

Make government smaller and we get more of what we really can do together...
September 14, 2010 | Cafe Hayek

The “s” word

I want to point out once more that the estimates of the effect of the stimulus are not estimates. They are really just projections...
September 13, 2010 | Cafe Hayek

Does spending create prosperity?

In times when there is high unemployment, spending should create demand. Any kind of spending...
September 13, 2010 | Cafe Hayek

Why inequality is a red herring

Would the world be a better place if JK Rowling hadn’t dared to write the Harry Potter series...? Would the world be a better place without LeBron James? All of these people create inequality. They also make the world a better place...
September 8, 2010 | Room for Debate (New York Times)

Standard Economics May Not Apply

Measures that might spur investment in normal times won't necessarily work now...
September 7, 2010 | Cafe Hayek

Whose fault was it?

Paul Krugman and Robin Wells writing in the New York Review of Books criticize Raghuram Rajan for believing that government policy bears a lot of responsibility for the housing crisis...
September 7, 2010 | Cafe Hayek

Educational “reform”

[W]hat “reform” at the national level has a chance to succeed if [certain] realities do not change...?
September 6, 2010 | Cafe Hayek

War is bad for children, other living things, and the economy

That’s the biggest and most dangerous economic myth of all time, the idea that war stimulates the economy. War stimulates the military sector of the economy...
September 2, 2010 | Cafe Hayek

The sublime and the mundane

Here are two videos (one long–45 minutes, one vey short–under two minutes) that make me feel glad to be alive and inspire me...
August 26, 2010 | Cafe Hayek

DeLong on Hayek on Democracy

It is popular to say that democracy is horrible but better than any of the alternatives. I would say that unlimited democracy is horrible and inferior to limits that restrict the power of the state to carry out the will of the majority...
August 20, 2010 | Cafe Hayek

Unleashing the power of Keynes

It turns out that the project that President Obama highlighted the other day–a police station renovation–was not a police station and wasn’t funded by the stimulus package...
August 18, 2010 | Cafe Hayek

Health insurance for the elderly?

Private insurance for old people in the absence of government intervention is unlikely. The reason is that old people are likely to get sick. The premiums that would make coverage profitable would probably be very high. Would people pay that premium? Probably not...
August 18, 2010 | Cafe Hayek

Monopoly taxation

The essential tasks of government–the things that government can probably or certainly do more effectively than the private sector–would require a dramatically smaller tax burden than we currently bear...
August 17, 2010 | Cafe Hayek

What’s wrong with research in the social sciences?

What’s wrong with research in the social sciences? Only two things. How it’s done and how it’s interpreted...
August 5, 2010 | Cafe Hayek

Something’s gotta give

Missouri voters have voted against the federal mandate in ObamaCare requiring everyone to buy health insurance. Not surprisingly, they like their current health care more than ObamaCare...
August 4, 2010 | Cafe Hayek

Worth a thousand words

It’s more than a picture, actually. It’s a subtle and beautiful graph. On one axis is per-capita income. On the other is life expectancy. Each point on the graph is the life expectancy and per-capita GDP for a particular year in two different countries, Cuba and Portugal...
July 30, 2010 | Cafe Hayek

“Measuring” the impact of the stimulus

[W]e don’t have a reliable model of the economy in its current state. The CBO concludes that we should instead look at previously estimated relationships in the economy (holding everything else constant) and that’s the best we can do...
July 22, 2010 | Cafe Hayek

Prufrockian Political Economy

When I talk about risk and safety, I always like to point out that it’s easy to make sure that no one ever dies in an airplane crash: ban air travel. The fact that we don’t suggests that we really don’t want perfectly safe air travel...
July 22, 2010 | Cafe Hayek

Today vs. tomorrow

Harry Reid asks: “Isn’t it a good thing today in America that we have an automobile manufacturing sector?" Maybe. Certainly it’s a bad thing today to subsidize mediocre companies (GM, Chrysler) making it harder for others (Ford) to thrive...
July 19, 2010 | Cafe Hayek

What went wrong–a narrative is born

So how will the Keynesians explain the failure of the Obama stimulus spending..?
July 16, 2010 | Cafe Hayek

Persistent unemployment

Greg Mankiw looks at unemployment and sees something scary. I agree...
July 16, 2010 | Cafe Hayek

Macro Thought Experiment II

Here’s another macro thought experiment. A government economist notices that 25% of the job losses in the economy are from the construction sector. To help speed the recovery in the job market and reduce unemployment...
July 16, 2010 | Cafe Hayek

Woulda coulda shoulda

When I read Thoma I think of the Shel Silverstein poem,Woulda-Coulda-Shoulda...
July 14, 2010 | Cafe Hayek

The Greek part of Oakland

I noted the other day that the average (the average!) cost to the city of Oakland of employing a police officer is $188,000 and that the city was negotiating for concessions to avoid layoffs. Today comes the news that they couldn’t agree–80 Oakland police officers have been laid off...
July 13, 2010 | Cafe Hayek

Sticky (and very high)

Both Arnold Kling and I (and probably a few million other people) have wondered why it was necessary for Federal money to be given to the states and cities to prevent job losses...
July 12, 2010 | Cafe Hayek

Stimulating Thoughts

I’ve been thinking about Keynes lately and why it is that everyone just assumes that when government spends money, of course it helps the economy recover and creates jobs. Let’s imagine four different scenarios...
July 1, 2010 | Cafe Hayek

Obama’s future

Tomorrow is the first Friday of July. The June jobs report will be released and it’s not looking good...
July 1, 2010 | Cafe Hayek

Shovel-ready, revisited

According to Recovery.gov, the government has now paid out $415 billion of the stimulus funds...
June 29, 2010 | Cafe Hayek

Oops, they may have made the data up

Remember that Daily Kos poll that showed Republicans are dangerous, evil, loons...? Now comes word that Research 2000, the organization that the Daily Kos commissioned for the survey, didn’t exactly follow the scientific method...
June 25, 2010 | Cafe Hayek

The beauty of models

The government models, which oil companies are required to use but have not been updated since 2004...
June 21, 2010 | Cafe Hayek

Sumner on neoliberalism and growth

This week’s EconTalk is Scott Sumner talking about why some countries grow faster than others...While I am sympathetic to Scott’s argument I am skeptical of it on a couple of grounds...
June 17, 2010 | Cafe Hayek

The final tally isn’t in yet

In this recent post, I mentioned that that the final bill for the TARP bailout might not be the $50 to $100 billion that Alan Blinder mentions...
June 3, 2010 | Cafe Hayek

Is the Gaza embargo a crime?

Is the embargo a strategic mistake? Maybe, though it’s easy to encourage Israel to “search for weapons” while sitting safely in the United States. Is it a crime? I’d say the moral responsibility lies elsewhere...

June 2, 2010 | Cafe Hayek

Why I’m wrong

In my narrative of the financial crisis, Gambling with Other People’s Money, I argue that excessive leverage was favored by the executives as a way of inflating returns and generating high profits that justified large levels of compensation...

May 17, 2010 | Cafe Hayek

I talk about the crisis

Having done 13 or so podcasts on the financial crisis, I give my take in the latest episode of EconTalk, drawing on my recent paper, Gambling with Other People’s Money...

May 13, 2010 | Cafe Hayek

The fundamental question

James DeLong asks the right question. What has the financial sector contributed that justifies this...

May 13, 2010 | Cafe Hayek

Two mysteries

I really like Barry Ritholtz. I learned a lot from Bailout Nation and from interviewing him. His blog, The Big Picture, is consistently interesting. But there is a mystery about his recent writing on the crisis...

May 5, 2010 | Cafe Hayek

Sitting at the table together

Rescuing Greece isn’t the end of the problem, it’s more akin to the Bear Stearns rescue of March 2008. It’s just the beginning of something that won’t end well...

May 5, 2010 | Cafe Hayek

Working together

Social security is an intellectually bankrupt system that is on its way to being financially bankrupt...Please, let’s kill the social security system. Slowly, but surely...

May 4, 2010 | Cafe Hayek

Stopping the social security ponzi scheme

[Social security is] mainly a Ponzi scheme, an agreement to tax each generation to pay for the last one, a scheme that works pretty well until the baby boomers come along...

May 4, 2010 | Cafe Hayek

Divorce

But there is one change that took place in the 1970s that I think is under-appreciated by economists. Divorce rates went up virtually everywhere in the 1970s. People also delayed getting married...

April 27, 2010 | Cafe Hayek

Who paid John Paulson?

John Paulson expected housing prices to go down. The ABACUS vehicle at the heart of the transaction allowed him to profit when they did go down. Who was on the other side of the transaction...

April 23, 2010 | Cafe Hayek

Reading and writing

The Kindle (and I love mine and use it often) is a bit like a movie that is a film of a play. It can be good but to our modern eye it looks weird and fake...

April 22, 2010 | Cafe Hayek

Who is the parent to the parent?

[I]t’s a bit weird to hear Obama complain about irresponsible industries. His policies and those of his predecessors enabled that irresponsibility...

April 15, 2010 | Cafe Hayek

Too Big to Fail and the Dodd Bill

Mark Warner thinks Mitch McConnell is either a fool or a liar. Ezra Klein reports...

April 13, 2010 | Cafe Hayek

The free free lunch

The Democratic Party put me on their mailing list and they sent me this clip today (among others). I think it’s supposed to make me feel good about expanding unemployment benefits.

March 26, 2010 | Cafe Hayek

Less now, more later

All of the reaction to the crisis from Bush through Obama, presumes we can just squeeeze over here, push something over there, institute this program for homeowners, bail out these banks, turn this knob just so, and so on and so on to keep the system afloat without any pain. . . .

March 24, 2010 | Cafe Hayek

Freakonomics Podcast

Freakonomics has started podcasting and interviewed me the other day about what I would do if I were in charge of the government. . . .

March 24, 2010 | Cafe Hayek

The essence of the health care legislation

David Leonhardt argues that the health care changes will work to reverse the inequality of the age of Reagan. . . .

March 23, 2010 | Cafe Hayek

Youa Culpa

Allan Greenspan explains why he had nothing to do with the collapse of the housing market and the financial sector. . . .

March 22, 2010 | Cafe Hayek

A few thoughts on the health care legislation

I’m surprised it passed. . . .

March 22, 2010 | Cafe Hayek

Let’s be honest

Methinks1776, a valued commenter here at the Cafe points out the 2/3 of the American people opposed the health care legislation. . . .

March 17, 2010 | Cafe Hayek

Says it all

Here’s an amazing story from CNN because it’s so ordinary. . . .

March 16, 2010 | Cafe Hayek

Hayek in Texas

Is Hayek an important enough economist to be taught in Texas schools alongside Keynes and Friedman? . . .

March 12, 2010 | Cafe Hayek

A Thought Experiment

One difference between economists and others is that economists tend to be less impressed by motivation and more impressed by what people actually do. . . .

March 10, 2010 | Cafe Hayek

Measuring Stimulus

In this post, I disagreed with Menzie Chinn and argued that CBO estimates of the impactof the stimulus are not estimates. . . .

March 8, 2010 | Cafe Hayek

CBO estimates

Menzie Chinn invokes the CBO “estimates” to argue against those who say the stimulus didn’t work. . . .

March 8, 2010 | Cafe Hayek

Insidious

Daniel Kuehn comments on this post about how United States Sugar used environtalism to exploit the taxpayer: From a purely environmental perspective, the move does make a lot of sense. . . .

March 8, 2010 | Cafe Hayek

Shocking

Florida’s plan to save the everglades really saved United States Sugar. . . .

March 5, 2010 | Cafe Hayek

The jobs of yesteryear

I get a lot of emails from people worrying about America losing jobs to China. . . .

March 4, 2010 | Cafe Hayek

Steyn nails it

Mark Steyn nails it (HT: Gary Schiff) in a piece on Greece and the path we’re on in the US. My favorite part: We hard-hearted, small-government guys are often damned as selfish types who care nothing for the general welfare. . . .

February 21, 2010 | Cafe Hayek

What we say vs. do vs. believe

One of the advantages of studying economics (at least the way it was taught to me) was to pay attention to what people do rather than what they say. . . .

February 21, 2010 | Cafe Hayek

Ungovernable

There’s a debate going on in the punditsphere about whether America is ungovernable. . . .

February 17, 2010 | Cafe Hayek

For a sixth grader

Thomas Friedman writes in the New York Times: Of the festivals of nonsense that periodically overtake American politics, surely the silliest is the argument that because Washington is having a particularly snowy winter it proves that climate change is a hoax and, therefore, we need not bother with all this girly-man stuff like renewable energy, solar panels and carbon taxes. . . .

February 17, 2010 | Cafe Hayek

The Great Stimulus Hoax

David Leonhardt writes in the New York Times: Just look at the outside evaluations of the stimulus. . . .

February 15, 2010 | Cafe Hayek

Adam Smith and BookTV

I will be on C-Span’s BookTV tomorrow (Tuesday, the 16th) at 8 pm ET, talking about Adam Smith and The Wealth of Nations. . . .

February 11, 2010 | Cafe Hayek

Sacks on Trade

Rabbi Jonathan Sacks on trade from his book, The Dignity of Difference: In an age of resurgent tribalism, the global market offers—as trade has always done—an alternative script to difference as a source of conflict, and therefore tragedy. . . .

February 11, 2010 | Cafe Hayek

Did they expect to be bailed out

I don’t think bankers planned on being bailed out. . . .

February 10, 2010 | Cafe Hayek

Revolution in Iran imminent (maybe)

This may be the last straw: Iran’s telecommunications agency announced what it described as a permanent suspension of Google Inc.’s email services, saying instead that a national email service for Iranian citizens would soon be rolled out. . . .

February 10, 2010 | Cafe Hayek

The silver lining?

I’d like readers to keep a lookout for articles that talk about the snow storms of the East coast having a silver lining–the increased demand for gutter repairs, roof repairs and snow cleanup that will stimulate the economy. . . .

February 9, 2010 | Cafe Hayek

Eating more while getting thinner

The President is a man of principle. . . .

February 8, 2010 | Cafe Hayek

Wisdom from Jay Cost

Here. An excerpt: He has been narrow, not broad. . . .

February 3, 2010 | Cafe Hayek

I’m not one either, but…

Mark Thoma quotes Bruce Bartlett who quotes a poll that shows Republicans are crazy. . . .

February 2, 2010 | Cafe Hayek

The pygmy shrinks

The U.S. government borrows money easily because we’re the tallest pygmy. . . .

February 3, 2010 | Cafe Hayek

Brad DeLong on job creation

Brad DeLong mocks Steve Horwitz here for suggesting that the stimulus didn’t create jobs. . . .

February 2, 2010 | Cafe Hayek

Frank on Fannie and Freddie

Barney Frank doesn’t know what to do: “I’ve said we should abolish Fannie Mae and Freddie Mac in their current form and come up with a whole new system of housing finance,” said Representative Barney Frank, a Massachusetts Democrat and the chairman of the House Financial Services Committee. . . .

February 2, 2010 | Cafe Hayek

Obscene

The proposed budget is obscene enough. . . .

January 29, 2010 | Cafe Hayek

Barney Frank’s Fantasy World

At Big Think, they used one of my questions in their interview with Barney Frank: Question: How can Fannie and Freddie be structured to avoid the moral hazard problem and a too-cozy relationship with regulators? . . .

January 28, 2010 | Cafe Hayek

The state of the labor market

Phenomenal charts from the Dallas Fed. . . .

January 27, 2010 | Cafe Hayek

Hayeku on the state of the union

A hayeku (HT: Ike Pigott for the name and the encouragement) is a haiku from an Hayekian perspective. . . .

January 25, 2010 | Cafe Hayek

Keynes vs. Hayek rap video

More resources including lyrics and a free download of the song are here. . . .

January 25, 2010 | Cafe Hayek

Get the song and the lyrics

You can get the lyrics and download the song “Fear the Boom and Bust” (the music behind the Keynes/Hayek rap video) at no charge on my website with John Papola, EconStories.tv. . . .

January 21, 2010 | Cafe Hayek

Fixing it later

Gail Collins and David Brooks discuss what Congress ought to do about health care. Gail Collins says: I only have one thought, which is that the Democrats should pass the health care bill now. . . .

January 21, 2010 | Cafe Hayek

You can’t take it with you

In synagogues around the world this week, Jews read from the Torah about the exodus from Egypt. . . .

January 21, 2010 | Cafe Hayek

Don’t know where to start

In America we have what’s called a republic. . . .

January 21, 2010 | Cafe Hayek

What we have here is a failure to communicate

It has nothing to do with the bloated budget, the payoffs to political friends like the unions in bailing out Detroit and exempting them from health care taxes, the rising debt, the coddling of Wall Street, the stimulus package that didn’t stimulate, the grandiosity of redesigning the health care system and the energy sector. . . .

January 20, 2010 | Cafe Hayek

Mindset

“Massachusetts has health care and so the rest of the country would like to have that too,” Pelosi said, referring to the state’s health care program. . . .

January 20, 2010 | Cafe Hayek

Political incentives

The press is saying that Obama’s agenda is in jeopardy because he has lost a filibuster-proof advantage in the Senate. . . .

January 19, 2010 | Cafe Hayek

Maybe the dogs don’t like it

If Brown wins today in Massachusetts, we’re going to hear all kinds of explanations. . . .

January 15, 2010 | Cafe Hayek

A bad week for PK

First this spectacular analysis of confusing levels and rates of growth. . . .

January 17, 2010 | Cafe Hayek

Bubble, bubble, toil and trouble

Wisdom from Scott Sumner on bubbles, Fama and the efficient market hypothesis. . . .

January 10, 2010 | Cafe Hayek

Why such extreme leverage?

I want to thank Stephan Cost who found this document for me, an analysis by Deloitte and Touche of the 2001 regulation that changed the capital requirements for various types of investments, taking effect on 1/1/2002. . . .

January 7, 2010 | Cafe Hayek

Capital requirements info, please

I am having trouble verifying how the rules regarding capital requirements changed between 2002 and 2004 for financial institutions. . . .

January 7, 2010 | Cafe Hayek

The Safest Way

In light of the breakdown of security procedures resulting in near catastrophe with the underwear bomber, the Obama Administration has announced an expanded no-fly list to reduce future risks to airline travelers. . . .

January 5, 2010 | Cafe Hayek

The mysterious weight gain

This is from today’s New York Times (and not The Onion). . . .

January 1, 2010 | Cafe Hayek

Questions, please

Planning a podcast with Mike Munger devoted to ten interesting questions, six minutes per question. . . .

December 29, 2009 | Cafe Hayek

Please give

Just a reminder to make a donation to the EconStories project–a web site that will host the rap video I’m working on with John Papola plus much additional material on macro including interviews with Robert Skidelsky, Larry White, John Taylor, Robert Barro, and Joseph Stiglitz. . . .

December 28, 2009 | Cafe Hayek

Come see me (and the rap video) in Atlanta

If you’re going to be in Atlanta for the AEA meetings, come see me and come see the world premiere of the Keynes/Hayek rap video. . . .

December 17, 2009 | Cafe Hayek

Macro addicts rejoice

The raw footage of my conversation with Robert Skidelsky is now up at the NewsHour. . . .

December 17, 2009 | Cafe Hayek

Support the rap video and more

We’re building a website that will be the home for the Keynes/Hayek rap video along with interviews with leading macroeconomists and other good stuff. . . .

December 17, 2009 | Cafe Hayek

More on the NewsHour

A number of folks have asked me (Sam Grove in the comments to this post, for example) for my impression of how the piece on the NewsHour came out relative to the actual interview, its fairness, etc. . . .

December 16, 2009 | Cafe Hayek

Inflation

It is weird to me that some people are still worrying about deflation. . . .

December 14, 2009 | Cafe Hayek

The Muscular Hayek

Bryan Caplan dismisses Hayek’s contributions as flabby: I’ve long since lost all patience with Hayek. . . .

December 9, 2009 | New York Times

What Makes a Wall Street Star?

Five senior executives at A.I.G. threatened to quit last week if Kenneth Feinberg, the Obama administration’s pay czar, cuts their pay significantly. . . .

December 9, 2009 | Cafe Hayek

Testifying before the JEC

I’ll be testifying before the Joint Economic Committee tomorrow (Thursday) at 10 am eastern time. . . .

December 3, 2009 | Cafe Hayek

Whatever you say

It must be tough being part of the Washington press corps. . . .

December 3, 2009 | Cafe Hayek

A question for Andrew Lo

The taxpayers ended up paying the price, not the risk-takers. . . .

December 3, 2009 | Cafe Hayek

November job numbers coming

The consensus is that it’s still going to get worse before it gets better. . . .

December 1, 2009 | Cafe Hayek

Crook on ClimateGate

An excerpt: The closed-mindedness of these supposed men of science, their willingness to go to any lengths to defend a preconceived message, is surprising even to me. . . .

December 1, 2009 | Cafe Hayek

If only wishing would make it so

The AP reports. . . .

November 25, 2009 | Cafe Hayek

Heads they win, tails we lose

I want to get rid of government rescues. . . .

November 25, 2009 | Cafe Hayek

Playing with our money

If creditors know they’ll be bailed out, aggressive investors borrow from them, leveraging their returns and paying themselves a lot of money along the way, justified by the short-term profits. . . .

November 23, 2009 | Cafe Hayek

Don’t get around much anymore

I think Paul Krugman needs to get out and about a little more often. . . .

November 24, 2009 | Cafe Hayek

Financial reform

If you tried but couldn’t get to my piece on financial reform at the Economists’ Voice, you can get it here. . . .

November 20, 2009 | Cafe Hayek

Wisdom from Arnold

So when someone says the TARP was central to preventing disaster, don’t disagree. . . .

November 20, 2009 | Cafe Hayek

Disgusting

This (HT: Drudge) is how “the system” works. . . .

November 18, 2009 | Cafe Hayek

Universal standards

There are advantage to universal standards. . . .

November 16, 2009 | Cafe Hayek

Airplane crashes and financial crashes

This is the opening of my essay that I blogged on last week, “How Little We Know,” on the hopes for financial reform: . . . .

November 11, 2009 | Cafe Hayek

Almost nothing

A very illuminating story on “jobs saved.” . . .

November 11, 2009 | Cafe Hayek

No solutions

Thomas Sowell has said that economics helps you understand that there are no solutions, only tradeoffs. . . .

November 11, 2009 | Cafe Hayek

Jobs saved and counterfactuals

Krugman and DeLong have been attacking Mankiw and Meltzer for mocking the “jobs saved” metric of the Obama Administration. . . .

November 11, 2009 | Cafe Hayek

Counterfactuals, revisited

My favorite perspective on the political economy of counterfactuals came from a reporter (Tom Foreman of CNN) who gave me his analysis of politicians and the economy. . . .

November 10, 2009 | Cafe Hayek

Looter

When losses are truncated by bailouts, you get anti-social risk-taking. . . .

November 10, 2009 | Cafe Hayek

Degrees saved or created

NOAA announced (HT: Drudge) that October was the third coldest October in the United States on record. . . .

November 10, 2009 | Cafe Hayek

Saturday

The Gallup poll has discovered (HT: Catherine Rampell) that Saturday is the day of the week that consumers spend the most money. . . .

November 6, 2009 | Cafe Hayek

Unemployment

It’s up to 10.2%. . . .

November 1, 2009 | New York Times

Did the Stimulus Work?

Many economists attribute the rise in the gross domestic product in the third quarter to the $787 billion federal stimulus package approved in February...

November 1, 2009 | Cafe Hayek

Marginalized Nobel Laureates

Thought this story from Newsweek on Soros’s new economics/policy enterprising was unintentionally amusing:...

November 1, 2009 | Cafe Hayek

The public option

Here is the video where Obama uses the Post Office as an example of why the public option won’t hurt private competitors...

October 29, 2009 | Cafe Hayek

The stimulus is a joke

The theme of this story is that a recent government report overstated (surprise!) the number of jobs “saved or created” by the stimulus spending...

October 29, 2009 | Cafe Hayek

Video of my testimony

Video of my testimony on Capitol Hill yesterday, talking about executive compensation (and the financial crisis) is here...

October 26, 2009 | Cafe Hayek

Vaccine Shortage

In response to this podcast I did with Mike Munger, listener Milli Pritchett writes:...

October 22, 2009 | Cafe Hayek

Give the Money Back!

This (HT: Drudge) is the weirdest story of the year:...

October 22, 2009 | Cafe Hayek

They think we’re children

The Senate must soon increase the national debt limit to above $13 trillion — and Democrats are looking for political cover...

October 13, 2009 | Cafe Hayek

Stimulus in the real world

As I noted yesterday, four government agencies account for 86% of the $110 billion the government has managed to spend since the “stimulus” bill was enacted last February–HHS, Labor, Education and Social Security...

October 13, 2009 | Cafe Hayek

A turning point?

Something is happening in the field of economics when two people with pretty different worldviews say almost the same thing in their reflections on yesterday’s Nobel Prize:...

October 12, 2009 | Cafe Hayek

Shovel Ready?

In the first eight months of the $787 billion “stimulus” package, the government has managed to spend about $111 billion, less than half of the funds that are available...

October 11, 2009 | Cafe Hayek

A Nobel prediction

An interesting pairing for tomorrow’s prize would be Robert Shiller and Nassim Taleb...

October 5, 2009 | Cafe Hayek

Recalculating

Krugman insults Arnold Kling (HT: THM) But what none of the participants in the debate seem to realize is that Arnold is basically reinventing 1934 macroeconomics...

October 5, 2009 | Cafe Hayek

The curious task

From the WSJ: The Obama administration’s pay czar is planning to clamp down on compensation at firms receiving large sums of government aid by cutting annual cash salaries for many of the top employees under his authority, according to people familiar with the matter...

October 1, 2009 | Cafe Hayek

Didn’t they really have skin in the game?

Joshua, in the comments to this post, asks the excellent question: My understanding is that the Wall Street guys had large fortunes in the stock of their companies...

October 2, 2009 | Cafe Hayek

Fuld’s skin in the game

According to Seeking Alpha which cites Bloomberg, here are Richard Fuld’s stock sales of his Lehman stock...

October 1, 2009 | Cafe Hayek

Looking for your help (skin in the game)

I’m looking for some help from anyone with knowledge of life in the investment bank world...

September 30, 2009 | Cafe Hayek

Chart of the year

From this Washington Post article: Look at that last bar in the chart...

September 30, 2009 | Cafe Hayek

Questions for Bryan

Bryan writes over at EconLog: Counterintuitive claim: Free trade makes countries richer, even if the other countries have big advantages like cheaper labor or more advanced technology...

September 29, 2009 | Cafe Hayek

Let’s keep making the same mistakes

The WSJ reports: The Obama administration is close to committing as much as $35 billion to help beleaguered state and local housing agencies continue to provide mortgages to low- and moderate-income families, according to administration officials...

September 24, 2009 | Cafe Hayek

Masonomics

Tyler Cowen recently gave a talk on what is distinctive about George Mason economics...

September 24, 2009 | Cafe Hayek

Keep those goodies coming

The post office will be taking a few billion dollars of money...

September 24, 2009 | Cafe Hayek

Those pesky animal spirits

The Keynesian argument for government spending is that when people are scared of the future, they put their money in their mattress instead of spending on consumption goods or investment goods...

September 24, 2009 | Cafe Hayek

Keynesian economics

Richard Posner has read Keynes’s General Theory so you don’t have to. He does a superb job of summarizing (HT: Greg Mankiw) what Keynes actually said...

September 24, 2009 | Cafe Hayek

The mystery of supply and demand

The paradox of markets is this: there is no single price even for apparently homogenous products, yet transactions by others, buying and selling similar goods, affect the price I pay or can charge...

September 22, 2009 | Cafe Hayek

Hubris

The Secretary of Energy gives us his view of Americans (HT: Drudge): When it comes to greenhouse-gas emissions, Energy Secretary Steven Chu sees Americans as unruly teenagers and the Administration as the parent that will have to teach them a few lessons...

September 16, 2009 | Cafe Hayek

In stock

The Price of Everything is now available in paperback at Amazon...

September 14, 2009 | Cafe Hayek

Details

I have removed my post from earlier today, quoting and discussing a New York Times story about Obama’s speech about Wall St...

September 14, 2009 | Cafe Hayek

Trusting strangers

The other day I was speaking about swine flu with a friend of mine who’s a doctor...

September 11, 2009 | New York Times

Why Wall Street Reforms Have Stalled

One year ago next week, Lehman Brothers went bankrupt, Merrill Lynch was sold and A.I.G. was rescued by a huge federal bailout...

September 9, 2009 | Cafe Hayek

Three health care questions

Why does the impending fiscal disaster known as Medicare justify increasing the role of the federal government and reducing the role of prices which are the essence of Medicare?...

September 9, 2009 | Cafe Hayek

Thomas Friedman–scary

One-party autocracy certainly has its drawbacks...

September 1, 2009 | Cafe Hayek

Hayek and norms

The latest episode of EconTalk is Mike Munger on cultural norms...

August 31, 2009 | Cafe Hayek

Research help on Fannie and Freddie

I am hoping someone out there can help me on this or knows someone who can help me...

August 31, 2009 | Cafe Hayek

A deck chair on the Titanic

In an incredibly misleading story that is making the rounds, the New York Times reports:...

August 26, 2009 | Cafe Hayek

Art (sort of) imitates life

It turns out that in the latest edition of my novel, The Choice: A Fable of Free Trade and Protectionism, I imagined a weird version of the Cash for Clunkers program...

August 25, 2009 | Cafe Hayek

A health care manifesto

What are the key principles of reform that would allow us to talk about reform without putting it in scare quotes?...

August 24, 2009 | Cafe Hayek

Health care vs. health insurance

In this post, I asked you to respond to this question I received from a reader, Tom:...

August 21, 2009 | Cafe Hayek

Le illusion

Sara Paretsky, in an article in the NYT entitled Le Treatment, described an emergency room in France and observes that rude bureaucrats in the French health system are worth putting up with, given the price:...

August 19, 2009 | Cafe Hayek

IOUs for suckers

Turns out it isn’t Cash for Clunkers...

August 19, 2009 | Cafe Hayek

Just say no to unintended consequences

One of the unintended consequences of the cash for clunkers program is that it is hurting charities...

August 7, 2009 | Cafe Hayek

The future

I find it fascinating that everyone assumes the economy is on its way to recovering...

August 7, 2009 | Cafe Hayek

Ninety Six Billion (and counting)

From Yahoo news (HT: Drudge): The mounting price tag for the rescue of Fannie and its goverment-sponsored sibling, Freddie Mac, is surpassed only by insurer American International Group Inc., which has received $182.5 billion in financial support from the government so far...

July 28, 2009 | Cafe Hayek

How we feel about our taxes

When people talk about their willingness to raise taxes, it is useful to remember that they are usually thinking of someone else...

Interviews

February 4, 2014 | Charlie Brennan (KMOX)

Russ Roberts on the Charlie Brennan Show

Charlie and Debbie talk with Science Journalist Dan Hurley about his new book,
February 6, 2013 | KPCC 89.3 (Southern California)

Russell Roberts on Airtalk with Larry Mantle (19:06)

January 31, 2013 | Morning Edition (NPR)

Russell Roberts on Morning Edition (2:21)

January 2, 2013 | Planet Money, NPR

Russell Roberts on Planet Money

December 12, 2012 | Minnesota Public Radio

Russell Roberts on The Daily Circuit

November 9, 2012 | Guardian (UK)

Russ Roberts on Politics Weekly (15:56)

September 9, 2012 | Weekend Edition (NPR)

Shaping The Economic Future: 4 Big Ideas

August 26, 2012 | All Things Considered (NPR)

Russell Roberts on NPR’s All Things Considered

July 13, 2012 | All Things Considered (NPR)

The Cost Of Free Doughnuts: 70 Years Of Regret

April 30, 2012 | EconLog

Taylor on Rules, Discretion, and First Principles

John Taylor of Stanford University's Hoover Institution talks with EconTalk host Russ Roberts about his new book, First Principles: Five Keys to Restoring America's Prosperity...
April 28, 2012 | John Batchelor Show

Hoover Institution Debate on the John Batchelor Show - Part I

Guests: Co-Host Mary Kissel, WSJ; Hoover Institution debate, Keynes and Hayek, with attention to Milton Friedman's conversation on Keynes and Hayek. Nicholas Wapshott, John Taylor, Michael Boskin, Russ Roberts...
April 28, 2012 | John Batchelor Show

Hoover Institution Debate on the John Batchelor Show - Part II

Guests: Co-Host Mary Kissel, WSJ; Hoover Institution debate, Keynes and Hayek, with attention to Milton Friedman's conversation on Keynes and Hayek. Nicholas Wapshott, John Taylor, Michael Boskin, Russ Roberts...
March 20, 2012 | All Things Considered (NPR)

At The Community Garden, It's Community That's The Hard Part

You may think that the great historic debate between communism and private property is over. Well, it's not. Not at your local community garden...
March 19, 2012 | EconTalk

Acemoglu on Why Nations Fail

Daron Acemoglu of MIT and author (with James Robinson) of Why Nations Fail talks with EconTalk host Russ Roberts about the ideas in his book: why some nations fail and others succeed, why some nations grow over time and sustain that growth, while others grow and then stagnate...
March 5, 2012 | EconTalk

Calomiris on Capital Requirements, Leverage, and Financial Regulation

Charles Calomiris of Columbia University talks with EconTalk host Russ Roberts about corporate debt, capital requirements, and financial regulation...
March 1, 2012 | Stossel (Fox Business)

Does Capitalism Have Morals?

Economist Russell Roberts and author Benjamin Barber debate whether capitalism is an ethical economic system...
January 26, 2012 | Kojo Nnamdi Show (WAMU)

"We're All Austrians Now:" Economics on the Campaign Trail

What insights can we really derive from long-dead economists? Kojo talks with economist Russ Roberts about the uses (and abuses) of economics on the campaign trail...
January 18, 2012 | Exchange (New Hampshire Public Radio)

Raising Keynes

We explore the economic philosophy of John Maynard Keynes. His ideas of government spending “priming the pump” during bad times have been applied by American leaders from FDR to Obama. But Keynsian theory continue to spark fierce debate...
November 28, 2011 | Mike McConnell (WGN)

Russell Roberts on the Mike McConnell Show

Russell Roberts, Economics Professor at George Mason University, author of the novel The Price of Everything, and host of the podcast show "EconTalk," joins Mike to help explain some confusing aspects of today's complicated economy...
September 20, 2011 | On Point (NPR)

Obama’s Deficit Reduction Plan

President Obama lays out his deficit reduction plan. We’ll dig through the details and big picture...
September 14, 2011 | Conversation (KUOW)

Should the Government Do More To Close The Wealth Gap?

By some estimates, the top 1 percent of Americans now control 40 percent nation's wealth...So what is to be done? Should the government do more to try to close the gap in the United States? We'll hear two perspectives...
August 29, 2011 | EconTalk

Hanushek on Teachers

Eric Hanushek of Stanford University's Hoover Institution talks with EconTalk host Russ Roberts about the importance of teacher quality in education...
August 23, 2011 | Diane Rehm Show (NPR)

Addressing Fears of Recession

Are we facing another economic recession? Experts weigh in on fears the economy is heading for another downturn and ideas on how to get it growing again...
August 15, 2011 | EconTalk

Brady on the Electorate and the Elections of 2010 and 2012

David Brady of Stanford University talks with EconTalk host Russ Roberts about the lessons of the election of 2010 and what we might expect from the elections of 2012...
August 8, 2011 | NPR

Untangling What's Next For The U.S. Economy

Gold prices are up, while oil prices, interest rates and global markets are down...
August 8, 2011 | EconTalk

Satz on Markets

Debra Satz, Professor of Philosophy at Stanford University, talks with EconTalk host Russ Roberts about her book, Why Some Things Should Not Be For Sale: The Moral Limits of the Market...
July 25, 2011 | EconTalk

Hennessey on the Debt Ceiling and the Budget Process

Keith Hennessey of Stanford University's Hoover Institution talks with EconTalk host Russ Roberts about the debt ceiling and the budget process...
July 18, 2011 | EconTalk

Taylor on Fiscal and Monetary Policy

John Taylor of Stanford University talks with EconTalk host Russ Roberts about the state of the economy and the prospects for recovery...
June 26, 2011 | Q&A (C-SPAN)

Q&A with Russ Roberts and John Papola

Economics Professor Russ Roberts and filmmaker John Papolaspoke about their two rap videos about economics. The most recent was "Fight of the Century..."
May 5, 2011 | Reason.tv

Keynes vs. Hayek Rap Video, Round 2: Q&A with Russ Roberts on top-down and bottom-up

Reason.tv's Nick Gillespie sat down with Roberts to discuss the ideas behind the latest Keynes-Hayek throwdown, and what his hopes are for the project...
April 28, 2011 | Economix (New York Times)

Keynes vs. Hayek: A Rap Battle Renewed

Round 2 of the great economics smackdown is now available on video...Will there be a Round 3? In a conversation about the project, Mr. Roberts, an economist at George Mason University, didn’t rule it out...
March 15, 2011 | John Batchelor Show

Russell Roberts on the John Batchelor Show

GUESTS: Larry Kudlow, CNBC and 77 WABC; Greg Zuckerman, WSJ; Phil Izzo, WSJ; Russell Roberts, Hoover; Jack Spencer, Heritage...
March 9, 2011 | Cato @ Liberty

A Happy Birthday to The Wealth of Nations

Today marks the 235th anniversary of Adam Smith's An Inquiry into the Nature and Causes of the Wealth of Nations, otherwise known as The Wealth of Nations. I chatted with GMU economics professor Russ Roberts on the book and its enduring impact...
January 26, 2011 | John Batchelor Show

Henry Miller and Russell Roberts on the John Batchelor Show

GUESTS: Gardiner Harris, NYT; Henry Miller, Hoover; Russell Roberts, Hoover...
November 30, 2010 | To The Point (KCRW)

Can the Washington Environment Really Change?

Both sides agreed that the message from voters this month was that partisan gridlock is not acceptable. Is there a honeymoon? How long will it last...?
November 25, 2010 | Stossel (Fox Business)

The Real Story of Thanksgiving

George Mason University economist Russ Roberts on how the Pilgrims were hurt by sharing...
November 16, 2010 | Minnesota Public Radio

What Obama could have done differently

Midmorning takes a look at Obama's policy efforts to give the economy a boost. We ask not only what the President could have done, but what can he do now to improve employment numbers...
September 20, 2010 | EconTalk

Richard Epstein on Regulation

Richard Epstein of New York University and Stanford University's Hoover Institution talks with EconTalk host Russ Roberts about the current state of the economy, particularly the regulatory climate...
September 13, 2010 | EconTalk

de Botton on the Pleasures and Sorrows of Work

Author Alain de Botton talks with EconTalk host Russ Roberts about his latest book, The Pleasures and Sorrows of Work...
September 6, 2010 | EconTalk

Kling on Knowledge, Power, and Unchecked and Unbalanced

Arnold Kling of EconLog and author of Unchecked and Unbalanced, talks with EconTalk host Russ Roberts about the book and the relationship between knowledge and power...
August 30, 2010 | EconTalk

Daniel Pink on Drive, Motivation, and Incentives

Daniel Pink, author of Drive, talks with EconTalk host Russ Roberts about drive, motivation, compensation, and incentives. Pink discusses the implications of using monetary rewards as compensation in business and in education...
August 23, 2010 | EconTalk

Munger on Private and Public Rent-Seeking (and Chilean Buses)

Mike Munger of Duke University talks with EconTalk host Russ Roberts about private and public rent-seeking...
August 16, 2010 | EconTalk

Kennedy on the Great Depression and the New Deal

David Kennedy of Stanford University and the author of Freedom from Fear talks with EconTalk host Russ Roberts about the Great Depression and its political and economic relevance...
August 9, 2010 | EconTalk

Laughlin on the Future of Carbon and Climate

Robert Laughlin of Stanford University and the 1998 co-recipient of the Nobel Prize in Physics talks with EconTalk host Russ Roberts about energy use and the future of the earth's climate...
August 6, 2010 | Morning Edition (NPR)

Monopoly: Does The Game Mislead Investors?

During the housing bubble, investors were throwing cash at real estate like it was Monopoly money. Perhaps that metaphor isn't too extreme...
August 2, 2010 | EconTalk

Brady on the State of the Electorate

David Brady of Stanford University talks with EconTalk host Russ Roberts about the state of the electorate and what current and past political science have to say about the upcoming midterm elections...
July 26, 2010 | EconTalk

Robert Service on Trotsky

July 21, 2010 | Charlie Brennan (KMOX)

Charlie Brennan

Should President Obama increase federal spending to end the recession, or should he start reducing the deficit. We’ll hear from both sides as Charlie talks with Professor Steve Fazzari of Washington University and Professor Russ Roberts of George Mason University...
July 19, 2010 | EconTalk

Taylor on the State of the Economy

John Taylor of Stanford University talks with EconTalk host Russ Roberts about the state of the economy. Is the economy recovering? What policies have helped and hurt..?
July 12, 2010 | EconTalk

Gregory on Politics, Murder, and Love in Stalin's Kremlin

Paul Gregory of the University of Houston and a Research Fellow at Stanford University's Hoover Institution talks with EconTalk host Russ Roberts about Nikolai Bukharin's power struggle with Stalin and Bukharin's romance with Anna Larina...
July 5, 2010 | EconTalk

Kling on the Unseen World of Banking, Mortgages, and Government

Arnold Kling of EconLog talks with EconTalk host Russ Roberts about the weird world of banking...
June 28, 2010 | EconTalk

Caplan on Hayek, Richter, and Socialism

Bryan Caplan of George Mason University and blogger at EconLog talks to EconTalk host Russ Roberts about two books: Eugene Richter's Pictures of the Socialistic Future and F. A. Hayek's The Road to Serfdom. Both books warn against the dangers of socialism...
June 21, 2010 | EconTalk

Sumner on Growth and Economic Policy

Scott Sumner of Bentley University and the blog, The Money Illusion, talks with EconTalk host Russ Roberts about the last 30 years of economic policy and macroeconomic success and failure...
June 7, 2010 | EconTalk

Okrent on Prohibition and His Book, Last Call

Daniel Okent, author of Last Call: The Rise and Fall of Prohibition, talks about the book with EconTalk host Russ Roberts...

May 31, 2010 | EconTalk

Menand on Psychiatry

Drawing on a recent article of his in the New Yorker, [Louis] Menand talks about the state of knowledge in psychiatry and the scientific basis for making conclusions about mental illness and various therapies...

May 24, 2010 | EconTalk

Belsky on Journalism, Editing, and Trivia

Gary Belsky, Editor-in-Chief at ESPN The Magazine, talks with EconTalk host Russ Roberts about his career path in journalism and the day-to-day life of editing a major American magazine...

May 10, 2010 | EconTalk

Leamer on the State of Econometrics

Ed Leamer of UCLA talks with EconTalk host Russ Roberts about the state of econometrics. He discusses his 1983 article, "Let's Take the 'Con' Out of Econometrics" and the recent interest in natural experiments as a way to improve empirical work...

May 3, 2010 | Mercatus Center

Rapping about Economics with Russ Roberts

Roberts discusses how they came up with the idea for a rap about economics, what audiences they are reaching, and the economic implications of some of the Keynesian based policies implemented to deal with the current deficit...

May 3, 2010 | New Hampshire Public Radio

What In The World Is A Value Added Tax?

We’ll explain how a VAT works, weigh its pros and the cons, and ask how it might affect public policy in the US...

May 3, 2010 | EconTalk

Taleb on Black Swans, Fragility, and Mistakes

Nassim Taleb, author of The Black Swan and Fooled by Randomness, talks with EconTalk host Russ Roberts about his latest thoughts on robustness, fragility, debt, insurance, uncertainty, exercise, moral hazard, knowledge, and the challenges of fame and fortune...

April 26, 2010 | EconTalk

Romer on Charter Cities

Paul Romer of Stanford of Stanford University talks with EconTalk host Russ Roberts about charter cities, Romer's idea for helping the poorest of the poor around the world...

April 19, 2010 | EconTalk

Munger on Love, Money, Profits, and Non-profits

Mike Munger of Duke University talks with EconTalk host Russ Roberts about the world of profit, money, love, gifts, and incentives.

April 12, 2010 | EconTalk

Ravitch on Education

Diane Ravitch of NYU talks with EconTalk host Russ Roberts about the ideas in her new book, The Death and Life of the Great American School System: How Testing and Choice Are Undermining Education.

April 5, 2010 | EconTalk

Benkler on Net Neutrality, Competition, and the Future of the Internet

Yochai Benkler of Harvard University talks to EconTalk host Russ Roberts about net neutrality, access to the internet, and innovation.

February 16, 2010 | C-Span2 Book TV

Adam Smith's The Wealth of Nations

Samuel Fleischacker and Russell Roberts talked about The Wealth of Nations by Adam Smith. . . .

February 17, 2010 | Pajamas Media

Economic Rap Anthem: Fear the Boom and the Bust

Glenn Reynolds talks to Russ Roberts about popular economic literacy and the epic rap music video he created with John Papola starring two economic gangstas: John Maynard Keynes and Friedrich Hayek. . . .

January 25, 2010 | EconTalk

Spence on Growth

Nobel Laureate Michael Spence of Stanford University's Hoover Institution and the Commission on Growth and Development talks with EconTalk host Russ Roberts about the determinants of economic growth. . . .

December 16, 2009 | News Hour

Keynes vs. Hayek: Late Economists' Hip-Hop Legacy

As part of his continuing series Making Sense of financial news, Paul Solman has a unique look at the legacy of economist John Maynard Keynes, who first introduced the concept of government intervention in the economy, and his countertenor Friedrich Hayek. . . .

December 7, 2009 | NPR

The Folly Of Economic Forecasts

Russ Roberts, George Mason University economist and host of EconTalk, explains why he thinks is economics is an imperfect science. . . .

December 3, 2009 | Minnesota Public Radio

The White House jobs summit

With the unemployment rate expected to stay above 10 percent well into next year, the Obama administration is holding a summit with economists and business leaders to discuss job creation. . . .

October 26, 2009 | EconTalk

Calomiris on the Financial Crisis

Charles Calomiris of Columbia Business School talks with EconTalk host Russ Roberts about the financial crisis...

August 24, 2009 | EconTalk

Brady on Health Care Reform, Public Opinion, and Party Politics

David Brady of Stanford University talks with EconTalk host Russ Roberts about American public opinion on changing the health care system...

August 17, 2009 | EconTalk

Hitchens on Orwell

Christopher Hitchens talks with EconTalk host Russ Roberts about George Orwell...

August 10, 2009 | EconTalk

Hanushek on Test-based Accountability, Federal Funding, and School Finance

Eric Hanushek of Stanford University's Hoover Institution talks with EconTalk host Russ Roberts about the current state of education and education policy...

Other Media

April 23, 2012 | EconTalk

Cowen on Food

Tyler Cowen of George Mason U. and author of An Economist Gets Lunch, talks with EconTalk host Russ Roberts about food, the economics of food, and his new book...
April 16, 2012 | EconTalk

Autor on Disability

April 9, 2012 | EconTalk

Burkhauser on the Middle Class

April 2, 2012 | EconTalk

Eugene White on Bank Regulation

March 26, 2012 | EconTalk

Boudreaux on Public Debt

February 27, 2012 | EconTalk

Weinberger on Too Big to Know

February 20, 2012 | EconTalk

Adam Davidson on Manufacturing

February 6, 2012 | EconTalk

William Black on Financial Fraud

January 30, 2012 | EconTalk

Fama on Finance

January 16, 2012 | EconTalk

Taleb on Antifragility

January 9, 2012 | EconTalk

Dean Baker on the Crisis

January 2, 2012 | EconTalk

Sumner on Money and the Fed

December 5, 2011 | EconTalk

Cowen on the European Crisis

November 28, 2011 | EconTalk

Simon Johnson on the Financial Crisis

November 7, 2011 | EconTalk

Kaplan on the Inequality and the Top 1%

October 24, 2011 | EconTalk

Ramey on Stimulus and Multipliers

October 17, 2011 | EconTalk

Wapshott on Keynes and Hayek

September 26, 2011 | EconTalk

Rosenberg on the Nature of Economics

September 19, 2011 | EconTalk

Garett Jones on Stimulus

September 5, 2011 | EconTalk

Winston on Lawyers

August 1, 2011 | EconTalk

Admati on Financial Regulation

June 27, 2011 | EconTalk

Otteson on Adam Smith

May 9, 2011 | EconTalk

Caplan on Parenting

March 21, 2011 | EconTalk

Coyle on the Economics of Enough

February 14, 2011 | EconTalk

Cowen on the Great Stagnation

January 10, 2011 | EconTalk

Caldwell on Hayek

January 3, 2011 | EconTalk

Hanson on the Technological Singularity

December 6, 2010 | EconTalk

Selgin on the Fed

November 22, 2010 | EconTalk

Phillipson on Adam Smith

November 15, 2010 | EconTalk

Robert Frank on Inequality

November 1, 2010 | EconTalk

Quiggin on Zombie Economics

October 25, 2010 | EconTalk

Hazlett on Apple vs. Google

October 4, 2010 | EconTalk

Caplan on Immigration

April 28, 2010 | Mercatus Center

Gambling with Other People's Money

How Perverted Incentives Caused the Financial Crisis...

March 29, 2010 | EconTalk

De Vany on Steroids, Baseball, and Evolutionary Fitness

Arthur De Vany, of the University of California, Irvine, and creator of Evolutionary Fitness, talks with EconTalk host Russ Roberts about performance-enhancing drugs in baseball and Evolutionary Fitness, De Vany's ideas about diet and fitness. . . .

March 22, 2010 | EconTalk

Meyer on the Music Industry and the Internet

Steve Meyer, music industry veteran and publisher of the Disc and Dat Newsletter, talks with EconTalk host Russ Roberts about the evolution of the music industry and the impact of the digital revolution. . . .

March 15, 2010 | EconTalk

Don Boudreaux on Public Choice

Don Boudreaux of George Mason University talks with EconTalk host Russ Roberts about public choice: the application of economics to the political process. . . .

March 8, 2010 | EconTalk

Newman on Low-wage Workers

Katherine Newman, Professor of Sociology at Princeton University, talks with EconTalk host Russ Roberts about Newman's case studies of fast-food workers in Harlem. . . .

March 1, 2010 | EconTalk

Ritholtz on Bailouts, the Fed, and the Crisis

Barry Ritholtz, author of Bailout Nation: How Greed and Easy Money Corrupted Wall Street and Shook the World Economy, talks with EconTalk host Russ Roberts about the history of bailouts in recent times, beginning with Lockheed and Chrysler in the 1970s and continuing through the current financial crisis. . . .

February 22, 2010 | EconTalk

Garett Jones on Macro and Twitter

Garett Jones of George Mason University talks with EconTalk host Russ Roberts about the art of communicating economics via puzzles and short provocative insights. . . .

February 15, 2010 | EconTalk

Phelps on Unemployment and the State of Macroeconomics

Nobel Laureate Edmund Phelps of Columbia University talks with EconTalk host Russ Roberts about the market for labor, unemployment, and the evolution of macroeconomics over the past century. . . .

February 8, 2010 | EconTalk

Roberts on Smith, Ricardo, and Trade

Russ Roberts, host of EconTalk, does a monologue this week on the economics of trade and specialization. . . .

February 1, 2010 | EconTalk

Larry White on Hayek and Money

Larry White of George Mason University talks with EconTalk host Russ Roberts about Hayek's ideas on the business cycle and money. . . .

January 25, 2010 | NPR

Podcast: 'Yo!' Planet Money Raps

On today's Planet Money: We bring you a story about a cable tv producer from New Jersey, a podcasting libertarian economist, an international pop superstar and the two dead economists who brought them all together. . . .

January 25, 2010 | NPR

Economists' Rap Battle Gains Cred From Ke$ha's Nod

A rap video that pits economic theories against each other caught the eye of the young pop singer. . . .

January 18, 2010 | EconTalk

Munger on Many Things

Mike Munger of Duke University talks with EconTalk host Russ Roberts about many things. . . .

January 11, 2010 | EconTalk

Belongia on the Fed

Michael Belongia of the University of Mississippi and former economist at the St. Louis Federal Reserve talks with EconTalk host Russ Roberts about the inner workings, politics, and economics of the Federal Reserve. . . .

December 21, 2009 | EconTalk

Hamilton on Debt, Default, and Oil

James Hamilton of the University of California, San Diego, and blogger at EconBrowser talks with EconTalk host Russ Roberts about the rising levels of the national debt and the growing Federal budget deficit. . . .

December 28, 2009 | EconTalk

Winston on Market Failure and Government Failure

Clifford Winston of the Brookings Institution talks about the ideas in his book, Market Failure vs. Government Failure, with EconTalk host Russ Roberts. . . .

January 4, 2010 | EconTalk

Rustici on Smoot-Hawley and the Great Depression

Thomas Rustici of George Mason University and author of Lessons from the Great Depression talks with EconTalk host Russ Roberts about the impact of the Smoot-Hawley Act on the economy. . . .

December 14, 2009 | EconTalk

Kling on Prosperity, Poverty, and Economics 2.0

Arnold Kling of EconLog and the author (with Nick Schulz) of From Poverty to Prosperity: Intangible Assets, Hidden Liabilities and the Lasting Triumph over Scarcity talks about the book with EconTalk host Russ Roberts. . . .

December 7, 2009 | EconTalk

McArdle on Debt and Self-Restraint

Megan McArdle, who writes the blog Asymmetrical Information at The Atlantic, talks with EconTalk host Russ Roberts about debt and the challenge of self-restraint. . . .

November 30, 2009 | EconTalk

Boettke on Elinor Ostrom, Vincent Ostrom, and the Bloomington School

Peter Boettke of George Mason University and author of Challenging Institutional Analysis and Development: The Bloomington School (co-authored with Paul Dragos Aligica), talks with EconTalk host Russ Roberts about the Bloomington School--the political economy of Elinor Ostrom (2009 Nobel Laureate in Economics), Vincent Ostrom, and their students and colleagues at Indiana University. . . .

November 23, 2009 | EconTalk

Reinhart on Financial Crises

Carmen Reinhart of the University of Maryland talks with EconTalk host Russ Roberts about the ideas in her book This Time is Different: Eight Centuries of Financial Folly (co-authored with Kenneth Rogoff). . . .

November 16, 2009 | EconTalk

Posner on the Financial Crisis

Richard Posner, federal judge and prolific author, discusses the financial crisis with EconTalk host Russ Roberts. Posner (despite the title of his recent book on the crisis, A Failure of Capitalism) places most of the blame for the crisis on the Federal Reserve, inattentive regulators and the subsidization of risk. . . .

November 12, 2009 | Economists' Voice (Berkeley Electronic Press)

How Little We Know

If only preventing financial crashes were as straightforward as preventing airlines crashes. . . .

November 9, 2009 | EconTalk

Sumner on Monetary Policy

Scott Sumner of Bentley University and the blog The Money Illusion talks with host Russ Roberts about monetary policy and the state of the economy. . . .

November 2, 2009 | EconTalk

Heller on Gridlock and the Tragedy of the Anticommons

Michael Heller of Columbia Law School and author of The Gridlock Economy talks to EconTalk host Russ Roberts about the book and the idea that fragmented ownership is a barrier to innovation...

October 15, 2009 | NPR

As Goldman Gloats, What Does It Matter for Us?

Goldman Sachs' third quarter profits were an immodest $3.2 billion...

October 19, 2009 | EconTalk

Munger on Shortages, Prices, and Competition

Mike Munger of Duke University talks with EconTalk host Russ Roberts about the limits of prices and markets, especially in the area of health...

October 12, 2009 | EconTalk

Willingham on Education, School, and Neuroscience

Daniel Willingham of the University of Virginia and author of the book Why Don't Students Like School? talks with EconTalk host Russ Roberts about how the brain works and the implications for teaching, learning, and educational policy...

October 5, 2009 | EconTalk

Gary Stern on Too Big to Fail

Gary Stern, former President of the Minneapolis Federal Reserve Bank, talks with EconTalk host Russ Roberts about Stern's book, Too Big To Fail (co-authored with Ron Feldman), a prescient warning of the moral hazard created when government rescues creditors of financial institutions from the consequences of bankruptcy...

September 28, 2009 | EconTalk

Cohan on the Life and Death of Bear Stearns

William Cohan, author of House of Cards: A Tale of Hubris and Wretched Excess on Wall Steet, talks with EconTalk host Russ Roberts about the life and death of Bear Stearns...

September 21, 2009 | EconTalk

Buchheit on Google, Friendfeed, and Start-ups

Paul Buchheit, developer of Gmail and founder of FriendFeed, talks with EconTalk host Russ Roberts about the evolution of the Gmail project, how innovation works and doesn't work in a large corporation, how Google has changed as it has grown, and corporate culture generally...

September 15, 2009 | Mercatus Center

One Year In: What Do We Know About the Financial Crisis?

One Year In: What Do We Know About the Financial Crisis?...

September 14, 2009 | EconTalk

Nye on the Great Depression, Political Economy, and the Evolution of the State

John Nye of George Mason University talks with EconTalk host Russ Roberts about the Great Depression, the evolution of the State, and attitudes people have toward free markets...

September 7, 2009 | EconTalk

Cowen on Culture, Autism, and Creating Your Own Economy

Tyler Cowen of George Mason University and author of Create Your Own Economy talks with EconTalk host Russ Roberts about the ideas in his recent book...

August 31, 2009 | EconTalk

Munger on Cultural Norms

Michael Munger of Duke University talks with EconTalk host Russ Roberts about cultural norms--the subtle signals we send to each other in our daily interactions...

August 3, 2009 | Cafe Hayek

Quiz for Clunkheads

Imagine you’re a member of Congress...

August 3, 2009 | EconTalk

Graham on Start-ups, Innovation, and Creativity

Paul Graham, essayist, programmer and partner in the y-combinator talks with EconTalk host Russ Roberts about start-ups, innovation, and creativity...

July 30, 2009 | Cafe Hayek

Awkward story for Barney Frank

This is an awkward story for Barney Frank...

July 27, 2009 | EconTalk

Peter Henry on Growth, Development, and Policy

Peter Blair Henry of Stanford University talks with EconTalk host Russ Roberts about economic development...

July 20, 2009 | EconTalk

John Taylor on the Financial Crisis

John Taylor of Stanford University talks with EconTalk host Russ Roberts about the fundamental causes of the financial crisis of 2008...

July 16, 2009 | New York Times

When to Let a Bank Fail

The CIT Group, one of the nation’s largest commercial lenders serving a million small and midsized companies, is on the verge of collapse...

July 15, 2009 | Cafe Hayek

Health care reform

According to the Drudge Report, here is the Republicans' chart that describes the new proposed US health care system will work:...

July 13, 2009 | EconTalk

Justin Fox on the Rationality of Markets

Justin Fox, author of The Myth of the Rational Market, talks about the ideas in his book with EconTalk host Russ Roberts...

July 10, 2009 | Cafe Hayek

Why are poor nations poor

The planet's rich nations met this week to discuss, among other issues, ways to help the planet's poor nations...

July 7, 2009 | Cafe Hayek

Wages at Wal-Mart

Shopping at Wal-Mart yesterday, I asked the cashier if she liked her job...

July 6, 2009 | EconTalk

Collier on Democracy and Violence

Paul Collier of Oxford University talks with EconTalk host Russ Roberts about the ideas in his new book, Wars, Guns, and Votes, a study of democracy and violence...

June 29, 2009 | EconTalk

Helprin on Copyright

Novelist Mark Helprin talks with EconTalk host Russ Roberts about copyright and the ideas in his book, Digital Barbarism...

June 25, 2009 | Cafe Hayek

Doctors as symptom

Greg Mankiw writes: For obvious reasons, I have been thinking a lot about healthcare recently...

June 24, 2009 | Cafe Hayek

More Bruce BDM on Iran

His TED talk is here...

June 23, 2009 | Cafe Hayek

The car market

There have been a few regulations over time...

June 22, 2009 | EconTalk

Munger on Franchising, Vertical Integration, and the Auto Industry

Michael Munger, of Duke University, talks with EconTalk host Russ Roberts about franchising, particularly car dealerships...

June 18, 2009 | Minnesota Public Radio

Obama proposes remaking rules governing finance

The way the financial industry is regulated will change dramatically if a proposal by the Obama administration passes Congress...

June 18, 2009 | Finance Buff (Blog)

An Interview with Russell Roberts

I’ve never met Russell Roberts, a George Mason University economics professor also affiliated with the Mercatus Center and Stanford University’s Hoover Institution...

June 17, 2009 | Cafe Hayek

Rational rationing?

David Leonhardt writes (HT: Elizabeth Terrell): Milton Friedman’s beloved line is a good way to frame the issue: There is no such thing as a free lunch...

June 17, 2009 | Cafe Hayek

Where is the world's smallest violin?

Diane Feinstein and Susan Collins are disappointed in the political process...

June 16, 2009 | Cafe Hayek

New financial regulations

I don't get it (from Yahoo): Securitization, or the packaging and selling of loans as securities, has been blamed by critics for eroding lending standards in the mortgage and other lending businesses...

June 15, 2009 | Cafe Hayek

Absolute mobility, quantified

This post looked at the proportion of children who have done better than their parents...

June 14, 2009 | Cafe Hayek

Fancy empirical work

In the last part of this post, I issued a challenge: I continue to ask the question: name an empirical study that uses sophisticated statistical techniques that was so well done, it ended a controversy and created a consensus—a consensus where former opponents of one viewpoint had to concede they were wrong because of the quality of the empirical work...

June 12, 2009 | Cafe Hayek

Wrong

Over at Freakonomics (HT: Planet Money), Justin Wolfers cites this graph as proof that the rich have gotten most of the income gains in the last 35 years:...

June 15, 2009 | EconTalk

Platt on Working at Wal-Mart

Charles Platt, author and journalist, talks with EconTalk host Russ Roberts what it was like to apply for a job at Wal-Mart, get one, and work there...

June 14, 2009 | Cafe Hayek

Wrong, revisited

In response to this post, a lot of comments discussed inequality...

June 11, 2009 | Cafe Hayek

Sociology

My colleague Bryan Caplan at EconLog on how economics is evolving: I've studied economics for over twenty years...

June 11, 2009 | Cafe Hayek

The Einstein of compensation

Congress is thinking of "reining in" executive pay (HT: Drudge Report)...

June 11, 2009 | Cafe Hayek

Why trade matters

This is a speech I gave at a conference in Utah on globalization and trade...

June 8, 2009 | Cafe Hayek

Getting and not getting we lay waste our powers

From Mark Helprin's Digital Barbarism: Those who lack any but a materialist approach to life see both acquisition and de-acquistion, fine tuned, as the keys to a blessed state...

June 7, 2009 | Cafe Hayek

Still probably right but for the wrong reasons

Innocent Bystanders has updated the graph (HT: Zev Fredman) using the May numbers:...

June 8, 2009 | EconTalk

Rebonato on Risk Management and the Crisis

Riccardo Rebonato of the Royal Bank of Scotland and author of Plight of the Fortune Tellers talks with EconTalk host Russ Roberts about the challenges of measuring risk and making decisions and creating regulation in the face of risk and uncertainty...

June 3, 2009 | Cafe Hayek

What's working

There are signs that the economy might be recovering...

June 2, 2009 | Cafe Hayek

Not so risky

From the New York Times: President Obama will push General Motors into bankruptcy protection on Monday, making a risky bet that by temporarily nationalizing the onetime icon of American capitalism, he can save at least a diminished automaker that is competitive...

June 2, 2009 | Cafe Hayek

Moe, Larry, and Curly?

The New York Times reports under this photo: Representative Barney Frank, and Senators Charles E. Schumer and Christopher J. Dodd would play critical roles guiding the administration’s financial overhaul through Congress...

June 1, 2009 | Cafe Hayek

The more the better, right?

The AP reports (HT: Drudge): White House spokesman Robert Gibbs is declining to say what it cost for President Barack Obama and his wife, Michelle, to eat dinner and take in a play in New York over the weekend...

May 31, 2009 | Cafe Hayek

Remember how urgent it was?

The stimulus package was signed into law February 17th with great urgency and fanfare...

June 1, 2009 | EconTalk

Epstein on the Rule of Law

Richard Epstein of the University of Chicago and Stanford University's Hoover Institution talks with EconTalk host Russ Roberts about the rule of law...

May 28, 2009 | Cafe Hayek

Touting Failure

The Washington Post reports: President Obama touted his plans for clean energy and economic stimulus Wednesday at an Air Force base near Las Vegas, pointing to the base's vast array of solar panels as a model for the nation as it seeks to reduce its dependence on foreign oil...

May 28, 2009 | Cafe Hayek

Huh?

I couldn't make this up: Republicans can reach a broader base by recasting gay marriage as an issue that could dent pocketbooks as small businesses spend more on health care and other benefits, GOP Chairman Michael Steele said Saturday...

May 28, 2009 | WAMU 88.5

A New Approach to Regulating the Economy?

President Obama has overseen sweeping changes in the role of government in the economy, intervening to prevent massive failures and promising to step up anti-trust laws...

May 27, 2009 | EconTalk

Klein on The Theory of Moral Sentiments, Episode 6--A Discussion of Parts VI and VII, and Summary

This is the sixth and concluding podcast in the EconTalk Book Club discussion of The Theory of Moral Sentiments by Adam Smith...

May 25, 2009 | EconTalk

Leeson on Pirates and the Invisible Hook

Peter Leeson of George Mason University and author of The Invisible Hook talks with EconTalk host Russ Roberts about the economics of 18th century pirates and what we can learn from their behavior...

May 21, 2009 | Cafe Hayek

Understanding what happened

I am scheduled to interview Riccardo Rebonato tomorrow for EconTalk...

May 21, 2009 | Cafe Hayek

The deficit

A little perspective...

May 19, 2009 | Cafe Hayek

Fooled by randomness

According to my car thermometer, it was 54 degrees this morning at 8 am here in DC on May 19...

May 17, 2009 | Cafe Hayek

How the world really works

Is it a good idea to have medical records stored in electronic form rather than paper?...

May 17, 2009 | Cafe Hayek

Bad Prediction, Bad Graphics

A number of people have sent me versions of this graph that Greg Mankiw has now noted...

May 18, 2009 | EconTalk

Boldrin on Intellectual Property

Michele Boldrin of Washington University in St. Louis talks with EconTalk host Russ Roberts about intellectual property and Boldrin's book, co-written with David Levine, Against Intellectual Property...

May 15, 2009 | Cafe Hayek

Following the money

Here are two totally intuitive common sense arguments: "Buying local is better than buying from a chain store—the money stays in the community."...

May 15, 2009 | Cafe Hayek

Sudden disruption

Here is Adam Smith speculating in The Wealth of Nations on the dynamic nature of the British labor market if all tariffs and barriers to imports were removed...

May 14, 2009 | Cafe Hayek

Awkward

The AP reports: As thousands of General Motors workers await word on more U.S. plant closures, reports that the company plans to import Chinese-made vehicles to the U.S. have created a political problem for the automaker and the White House...

May 13, 2009 | Cafe Hayek

The Grappler

From USA Today: For a guy grappling with recession, bank and auto bailouts, and record-setting budget deficits, President Obama also has a longer-term headache: The worsening financial condition of Social Security and Medicare as the Baby Boomers age...

May 13, 2009 | EconTalk

Klein on The Theory of Moral Sentiments, Episode 5--A Discussion of Parts III (cont.), IV, and V

This is the fifth podcast in the EconTalk Book Club discussion of The Theory of Moral Sentiments by Adam Smith...

May 12, 2009 | Cafe Hayek

The whole point of capitalism

Todd Zywicki, commenting on David Brooks, writes: But it seems to me that it is time to revisit this well and think about an intellectual defense of freedom that is more than "it delivers the goods."...

May 12, 2009 | Cafe Hayek

Wal-Mart reality check

Cool people (and many of my friends, cool and otherwise) hate Wal-Mart and sneer at those who shop there...

May 11, 2009 | Cafe Hayek

Was Adam Smith a liberal?

I like to call myself a classical liberal, someone who is in favor of personal responsibility, limited government and voluntary collective action...

May 11, 2009 | EconTalk

Wolfe on Liberalism

Alan Wolfe, Professor of Political Science at Boston College and author of The Future of Liberalism, talks with EconTalk host Russ Roberts about liberalism...

May 7, 2009 | Cafe Hayek

Dog bites man

The Washington Post headline: Obama's Budget Knife Yields Modest Trims...

May 6, 2009 | Cafe Hayek

Speaking truth to power

Deep truths from Clifford Asness, manager of AQR Capital Management, a $20 billion hedge fund, responds to President Obama's complaint that the hedge funds ruined the rescue of Chrysler for refusing to "sacrifice." (HT: Alan Schram)...

May 6, 2009 | Cafe Hayek

Speaking in Utah

I will be speaking on trade and globalization in Salt Lake City, May 20, in the morning...

May 5, 2009 | Cafe Hayek

For the record

Paul Krugman notes that nominal wages are falling for some workers...

May 5, 2009 | Cafe Hayek

Brooks channels Hayek

David Brooks, in this provocative critique of Republican Libertarianism, uses the insights of Hayek without mentioning him...

May 4, 2009 | EconTalk

Leamer on Macroeconomic Patterns and Stories

Ed Leamer, of UCLA and author of Macroeconomic Patterns and Stories, talks with EconTalk host Russ Roberts about how we should use patterns in macroeconomic data and stories about those patterns to improve our understanding of the economy...

April 29, 2009 | Cafe Hayek

Gifted in Nepal

In this post, I quoted Robert Frank: For example, as a Peace Corps volunteer in Nepal long ago, I hired a cook who had no formal education but was spectacularly intelligent and resourceful...

April 28, 2009 | Cafe Hayek

Final Exam

Here is an interesting exam question that could be the only question on the final exam of a first rate economics class...

April 29, 2009 | EconTalk

Klein on The Theory of Moral Sentiments, Episode 4--A Discussion of Part III

This is the fourth podcast in the EconTalk Book Club discussion of The Theory of Moral Sentiments by Adam Smith...

April 27, 2009 | EconTalk

Reis on Keynes, Macroeconomics, and Monetary Policy

Ricardo Reis of Columbia University talks with EconTalk host Russ Roberts about Keynesian economics in the classroom and in research...

April 22, 2009 | EconTalk

Klein on The Theory of Moral Sentiments, Episode 3--A Discussion of Part II

This is the third podcast in the EconTalk Book Club discussion of The Theory of Moral Sentiments by Adam Smith...

April 19, 2009 | Cafe Hayek

Chutzpah

I know a lot of people don't look at the world the way I do...

April 20, 2009 | EconTalk

Roberts on Wealth, Growth, and Economics as a Science

EconTalk host Russ Roberts talks with reporter Robert Pollie about the basics of wealth and growth...

April 15, 2009 | EconTalk

Klein on The Theory of Moral Sentiments, Episode 2--A Discussion of Part I

This is the second podcast in the EconTalk Book Club discussion of The Theory of Moral Sentiments by Adam Smith...

April 13, 2009 | EconTalk

Don Boudreaux on Macroeconomics and Austrian Business Cycle Theory

Don Boudreaux, of George Mason University, talks with Hoover research fellow and EconTalk host Russ Roberts about...

April 6, 2009 | Cafe Hayek

EconTalk Book Club—The Theory of Moral Sentiments

The latest episode of EconTalk is the first installment of a series of podcasts with my colleague Dan Klein on The Theory of Moral Sentiments by Adam Smith...

April 7, 2009 | Cafe Hayek

Moral Sentiments Book Club schedule

Just a heads up to anyone interested in the EconTalk book club on The Theory of Moral Sentiments...

April 6, 2009 | EconTalk

Klein on The Theory of Moral Sentiments, Episode 1--An Overview

Dan Klein, of George Mason University, talks with EconTalk host Russ Roberts about Adam Smith's lesser-known masterpiece, The Theory of Moral Sentiments, on the 250th anniversary of its initial publication...

April 2, 2009 | Cafe Hayek

Fannie, Freddie, and Subprime

I'm still not sure how important Fannie and Freddie were to the housing calamity but I continue to do some research...

March 31, 2009 | Cafe Hayek

The kosher bridge

It's kosher because it's not pork, at least that what the Mayor thinks...

March 30, 2009 | Cafe Hayek

The man of system will now fix the auto industry

The President spoke today about his latest attempts to save the auto industry...

March 30, 2009 | Cafe Hayek

Frenetic Fiddling

The White House, stung by the backlash of giving AIG money and then seeing it spent in the way that Washington and Main Street doesn't like, seems intent on not making the same mistake with the automakers...

March 30, 2009 | EconTalk

Brink Lindsey on the Age of Abundance

Brink Lindsey, of the Cato Institute and author of The Age of Abundance: How Prosperity Transformed America's Politics and Culture, talks with EconTalk host Russ Roberts about the interaction between culture and politics and prosperity...

March 25, 2009 | Cafe Hayek

Audacity without veracity

Two highlights from last night's press conference with the President:...

March 23, 2009 | EconTalk

Taleb on the Financial Crisis

Nassim Taleb talks about the financial crisis, how we misunderstand rare events, the fragility of the banking system, the moral hazard of government bailouts, the unprecedented nature of really, really bad events, the contribution of human psychology to misinterpreting probability and the dangers of hubris...

March 19, 2009 | Cafe Hayek

Obscene bonuses

Can you believe this?...

March 18, 2009 | Cafe Hayek

Irony isn't a strong enough word

From the New York Times: Under the photo it says: Representative Barney Frank was among the politicians charged with creating legislation to recoup the bonus money at A.I.G...

March 18, 2009 | Cafe Hayek

Must be a virus

Fannie and Freddie are going to pay bonuses, too...

March 18, 2009 | Cafe Hayek

Disconnect

From the New Mexico Independent: Tom Udall and a group of fellow U.S. senators has sent a letter to embattled AIG CEO Edward Liddy...

March 17, 2009 | Cafe Hayek

The rule of men

A friend of mine expressed surprise the other day when I said I wasn't sure if the stock market would bounce back fairly quickly...

March 16, 2009 | Cafe Hayek

Trade war?

Mexico is putting tariffs on 90 American products after the killing of the pilot program that lets in Mexican trucks (HT: Carrie Conko)...

March 16, 2009 | Cafe Hayek

The right questions

James Freeman at the WSJ asks the right questions about the Bear Stearns crisis a year ago...

March 15, 2009 | Cafe Hayek

What Keynes really meant

Over at this bloggingheads conversation with Arnold Klings, some commenters thought we weren't fair to Keynes...

March 13, 2009 | Cafe Hayek

Real money

China is worried:...

March 16, 2009 | EconTalk

Klein on Truth, Bias, and Disagreement

Dan Klein, of George Mason University, talks with EconTalk host Russ Roberts on truth in economics, bias, and groupthink in academic life...

March 12, 2009 | Cafe Hayek

Real wage inequality

About half of the return to a college education over and above that of a high school education, is eaten up by higher costs of living—college grads tend to live in high wage but high cost urban areas...

March 10, 2009 | Cafe Hayek

They don't have the votes

Will the President's budget pass?...

March 10, 2009 | WAMU 88.5

"Socialism" and the Return of Big(ger) Government

Some conservative critics of the Obama administration are using a Cold War era taunt to describe the new White House agenda: "socialism"...

March 10, 2009 | Wisconsin Public Radio

At Issue with Ben Merens

As millions of Americans lose their jobs and their homes, Americans may well be losing confidence in the American Dream...

March 9, 2009 | Cafe Hayek

Deal with it, Paul

Here is Krugman on the state of the economy and Obama's policies:...

March 6, 2009 | Cafe Hayek

The same old mistakes

One of the depressing parts of the New Deal was its willingness to help big labor and big business, a classic case of the seen and the unseen...

March 9, 2009 | EconTalk

Wales on Wikipedia

Jimmy Wales, founder of Wikipedia, talks with EconTalk host Russ Roberts about the birth and growth of Wikipedia...

March 6, 2009 | Cafe Hayek

LET THEM FAIL

We're going to run out of money...

March 9, 2009 | Cafe Hayek

Arnold and I at bloggingheads.tv

Arnold Kling and I talk about the state of economics and the current crisis...

March 2, 2009 | Cafe Hayek

Fannie and Freddie and the future

This New York Times story suggests that Fannie and Freddie are going to stay in the hands of the government, partly because government likes have the tool...

March 1, 2009 | Cafe Hayek

The beautiful harmony of collective community

One of the arguments against decentralized decision-making is that it's too selfish...

March 2, 2009 | EconTalk

Zywicki on Debt and Bankruptcy

Todd Zywicki, of George Mason University Law School, talks with EconTalk host Russ Roberts about the evolving world of consumer debt and how institutions and public policy have influenced consumer access to debt and credit...

February 26, 2009 | Cafe Hayek

When is a trillion dollars not a lot of money?

So starting in 2011, Obama is proposing a trillion dollars in new taxes...

February 26, 2009 | Cafe Hayek

More on the deficits that are coming

Obama has promised that the bottom 98% of taxpayers will not pay a dime in higher taxes for the new spending he has planned...

February 25, 2009 | Cafe Hayek

The Obama vision

What was in last night's state of the union address?...

February 25, 2009 | Cafe Hayek

Stagnant wages vs. rising compensation

The so-called Employee Free Choice Act (George Orwell call your office) would end secret ballots in union voting making it easier for unions to organize...

February 25, 2009 | Cafe Hayek

Waste fraud and abuse

Every President promises to root it out:...

February 24, 2009 | Cafe Hayek

Democracy

I just heard Obama guarantee that no one making less than $250,000 a year will pay a dime in higher taxes for the budgets he is proposing...

February 23, 2009 | EconTalk

Meltzer on Inflation

Allan Meltzer, of Carnegie Mellon University, talks with EconTalk host Russ Roberts about the current state of monetary policy and the potential for inflation...

February 19, 2009 | Cafe Hayek

Calling all extremely ardent libertarians

Ed Glaeser writes: To give Fannie and Freddie more resources, the government is infusing them with $200 billion...

February 17, 2009 | Cafe Hayek

Evidence against the multiplier

President Obama will shortly sign legislation creating nearly a trillion dollars of deficit spending in the name of stimulating the economy...

February 16, 2009 | EconTalk

Bhide on Outsourcing, Uncertainty, and the Venturesome Economy

Amar Bhidé, of Columbia University and author of The Venturesome Economy, talks with EconTalk host Russ Roberts about the role of entrepreneurship and innovation in a global economy...

February 12, 2009 | Cafe Hayek

Here comes inflation

Greg Mankiw notes that deflation worries have subsided and points to this chart showing that inflation-adjusted Treasuries (blue line) no longer have a higher yield (anticipating deflation) than unadjusted Treasuries:...

February 11, 2009 | Cafe Hayek

The seen and the unseen

The AP reports (HT: Drudge): President Barack Obama says Caterpillar's chief executive has told him the company will rehire some laid-off workers if the stimulus bill passes...

February 10, 2009 | Cafe Hayek

Good politics vs. good economics

The new bailout plan was announced at 11 am:

February 10, 2009 | Cafe Hayek

The mystery of job creation

Eric Boehlert wonders: Does CNN's John King think construction work is done pro bono?...

February 9, 2009 | Cafe Hayek

Adjusting expectations

One of our biggest challenges as human beings is adjusting our expectations when a trend reverses...

February 9, 2009 | EconTalk

Acemoglu on the Financial Crisis

Daron Acemoglu, of MIT, talks with EconTalk Russ Roberts about the financial crisis and the lessons that need to be learned from the crisis...

February 5, 2009 | Cafe Hayek

Regulation of Financial Markets

Michael Smith comments over at EconTalk on a comment by one Mark K:...

February 2, 2009 | EconTalk

Cochrane on the Financial Crisis

John Cochrane, of the University of Chicago, talks with EconTalk host Russ Roberts about the financial crisis...

January 29, 2009 | Cafe Hayek

Emergent disorder: four pieces of really bad news

Buy American!...

January 27, 2009 | Cafe Hayek

Confidence

Greg Mankiw gives this wise response to Robert Shiller's observation that confidence is the key to economic recovery:...

January 26, 2009 | EconTalk

Roberts (and Hanson) on Truth and Economics

EconTalk host Russ Roberts talks about the role of empirical evidence and bias in economics and why economists disagree...

January 22, 2009 | Cafe Hayek

Comment of the week

This post discusses a study that claims that of the three year increase in life expectancy from 1978-2001, five months of the increase came from cleaner air, vindicating the investments made in making the air cleaner...

January 22, 2009 | Cafe Hayek

Digging and filling in holes or keeping bridges from collapsing?

Casey Mulligan argues that what government spends the money on does matter...

January 22, 2009 | Cafe Hayek

Dog bites man

Shocking...

January 22, 2009 | Cafe Hayek

But what was the cost?

The AP reports: Cleaner air over the past two decades has added nearly five months to average life expectancy in the United States, according to a federally funded study...

January 22, 2009 | Cafe Hayek

Text of the stimulus bill

It's here where you'll also find it in PDF form if you'd like...

January 21, 2009 | Cafe Hayek

Keeping Tabs on the Pork, Part III

Soerson writes in the comments to an earlier post: Such an effort is hardly new...

January 22, 2009 | Cafe Hayek

The Shadow Banking System

I recently finished Krugman's The Return of Depression Economics and the Crisis of 2008...

January 21, 2009 | Cafe Hayek

I disagree with Krugman

In separate interviews at All Things Considered, Krugman and I disagree on the stimulus plan...

January 21, 2009 | Cafe Hayek

The World's Smallest Violin

Life is tough, isn't it?...

January 22, 2009 | Cafe Hayek

Infrastructure

I suggested in this All Things Considered interview that not all infrastructure yields a positive benefit...

January 21, 2009 | Cafe Hayek

My mood

My mood is perfectly captured by David Harsanyi...

January 20, 2009 | Cafe Hayek

Inconceivable

When I suggest that the $825 billion pork package might not stimulate the economy, the next question is always the same: so what would you do to stimulate the economy?...

January 20, 2009 | Cafe Hayek

Can Obama lead the US out of the recession?

Investor's Chronicle asked me for 350 words on whether Obama can lead the US out of recession...

January 19, 2009 | Cafe Hayek

Keeping tabs on the pork

I was just talking with Pietro Poggi-Corradini about how we might keep tabs on what actually happens rather than on what is supposed to happen when the government spends $825 billion quickly...

January 20, 2009 | Cafe Hayek

No hurry

From the AP: It will take years before an infrastructure spending program proposed by President-elect Barack Obama will boost the economy, according to congressional economists...

January 20, 2009 | Cafe Hayek

Keeping Tabs on the Pork, Part II

Pretty cool response, folks, to this post...

January 16, 2009 | Cafe Hayek

Madness

The New York Times reports: Two weeks after closing its purchase of Merrill Lynch at the urging of federal regulators, the government cemented a deal at midnight Thursday to supply Bank of America with a fresh $20 billion capital injection and absorb as much as $98.2 billion in losses on toxic assets, according to people involved in the transaction...

January 19, 2009 | Cafe Hayek

The seductive power of royalty

The general reaction to the incoming administration reminds me of the book of Samuel when the people of Israel ask for a king...

January 19, 2009 | EconTalk

Eric Raymond on Hacking, Open Source, and the Cathedral and the Bazaar

Eric Raymond, author of The Cathedral and the Bazaar, talks with EconTalk host Russ Roberts about the ideas in the book--why open source software development has been so successful, the culture of open source, under what conditions open source is likely to thrive and not to thrive, and the Hayekian nature of the open source process...

January 19, 2009 | Cafe Hayek

Where do the American people stand on the stimulus?

In this post, I speculated that many (most) Americans were skeptical of the stimulus package...

January 19, 2009 | Cafe Hayek

Doom and Gloom

In a comment to this earlier post, Charlie writes: For all of Russ's doom and gloom, I would love to see some actual predictions, something specific and on record...

January 14, 2009 | Cafe Hayek

Not one. Not two. Not 1.6. 1.57

Arnold asks the right question...

January 14, 2009 | Cafe Hayek

Stopping the Stimulus

I have started asking people I encounter whether they think government spending a trillion or so extra dollars is going to be good for the economy...

January 15, 2009 | Cafe Hayek

Winning the debate

The side arguing that reductions in CO2 aren't worth it, lost the debate...

January 12, 2009 | EconTalk

Fazzari on Keynesian Economics

Steve Fazzari, of Washington University in St. Louis, talks with EconTalk host Russ Roberts about Keynesian economics...

January 9, 2009 | Cafe Hayek

Why vote?

Commenter Russ Wood writes, in response to a previous encouragement to vote for EconTalk in the 2008 Weblog Awards: From an economic standpoint, why should I vote?...

January 11, 2009 | Cafe Hayek

Planet Obama

The first ten minutes of this Planet Money podcast I talk about what it was like to have Obama on the GMU campus proposing to spend a lot of my money and yours...

January 8, 2009 | Cafe Hayek

Please vote

A reminder to please vote for EconTalk at the Weblog Awards...

January 8, 2009 | Cafe Hayek

More on The Price of Everything

The Price of Everything is now available on the Kindle...

January 8, 2009 | Cafe Hayek

That whirring sound

As I type these words, President-elect Obama is here on the Fairfax campus of George Mason University giving a major economics address...

January 8, 2009 | Cafe Hayek

Wisdom from Arnold

Arnold Kling channels Hayek on the stimulus plan...

January 7, 2009 | Cafe Hayek

No Pork, Part II

Obama is aware that a few people might be skeptical of the government's ability to spend 500 or so billion dollars quickly and wisely...

January 6, 2009 | Cafe Hayek

No Pork!

Robert Reich in our conversation yesterday about the proposed Obama stimulus plan was eager to point out that while he supports the stimulus, it's important that the plan not have any pork in it...

January 6, 2009 | Cafe Hayek

Have you voted today?

Have you voted for EconTalk today?...

January 6, 2009 | Cafe Hayek

Macro question

Here are three $750 billion stimulus plans...

January 6, 2009 | Cafe Hayek

The new stimulus package

The Washington Post reports: The government's billion-dollar program to help people prepare for the transition to digital television has run out of money, potentially leaving millions of viewers without coupons to buy converter boxes they need to keep their analog TV sets working after the switch...

January 6, 2009 | Cafe Hayek

When a tax cut isn't a tax cut

If the government cuts rates or just gives rebates but at the same time increases the size of government, taxes are not lower...

January 5, 2009 | Cafe Hayek

To stimulate or not to stimulate

Robert Reich sings the virtues of the Obama stimulus plan on NPR's Talk of the Nation...

January 5, 2009 | Cafe Hayek

EconTalk nominated, please vote

EconTalk is once again a finalist for Best Podcast in the 2008 Weblog Awards...

January 4, 2009 | Cafe Hayek

How the system works

Rod Blagojevich will probably go to jail for trying to sell a Senate seat and various other shenanigans...

January 5, 2009 | EconTalk

Boettke on the Austrian Perspective on Business Cycles and Monetary Policy

Peter Boettke, of George Mason University, talks with EconTalk host Russ Roberts about the Austrian perspective on business cycles, monetary policy and the current state of the economy...

January 4, 2009 | Cafe Hayek

Tax cuts all around

Obama plans to have tax cuts in his stimulus package: Aiming to foster bipartisan support for his record-setting economic stimulus, President-elect Obama plans to propose huge tax cuts for businesses and middle-class workers that will total about 40 percent of the package, or up to $310 billion, congressional officials said...

December 18, 2008 | Cafe Hayek

A New Monetary Theory

This video from 1933 touts the virtues of inflation for ending the Great Depression...

December 15, 2008 | EconTalk

Higgs on the Great Depression

Robert Higgs, of the Independent Institute, talks with EconTalk host Russ Roberts about the Great Depression, the New Deal, and the effect of World War II on the American economy...

December 12, 2008 | Cafe Hayek

New Deal video

Here is a 35 minute video from a Canadian TV show, The Agenda with Steve Paikin, discussing the New Deal and the Great Depression...

December 11, 2008 | Cafe Hayek

The Human Chessboard

Two quotes for would-be car czars and other experts to remember...

December 11, 2008 | Cafe Hayek

Harsanyi on the Czar

Superb...

December 8, 2008 | EconTalk

Lipstein on Hospitals

Steven Lipstein, President and CEO of BJC HealthCare--a billion hospital system in St. Louis, Missouri--talks with EconTalk host Russ Roberts about the economics of hospitals...

December 9, 2008 | Cafe Hayek

The era of free markets

As we prepare to partially nationalize the American automobile industry, it is a good time to remember that George Bush is not a free market ideologue and that he did not pursue free market policies...

December 9, 2008 | Cafe Hayek

Another charming excerpt

It's funny, even though it's tragic...

December 9, 2008 | Cafe Hayek

Bedtime reading

The criminal complaint against Blagojevich is here...

December 9, 2008 | Cafe Hayek

Lord Acton was onto something

I happened to be in Chicago the day after the election and riding in a taxi, overheard a caller to a talk show talking about how wonderful it would be to have both Congress and the Presidency controlled by the Democrats...

December 4, 2008 | Cafe Hayek

But how would they work the pedals in those big shoes?

The auto bailout has gone from tragedy to farce...

December 4, 2008 | Cafe Hayek

Answers and questions

This paper by Baily, Litan, and Johnson is the best overview I've read so far of what went wrong in the housing and financial markets (HT: Arnold)...

December 4, 2008 | Cafe Hayek

Some of my favorite movies

Austin, in a comment, asks for a list of my favorite movies...

December 3, 2008 | Cafe Hayek

Do the car companies have a good plan?

This (HT: Drudge) is supposed to be serious rather than funny...

December 3, 2008 | Cafe Hayek

Reason and hubris

If you have to choose between irrationality and reason, it is easy to choose reason...

December 2, 2008 | Cafe Hayek

Does Bernanke realize what he's doing?

I just finished an interview with Robert Higgs about the Great Depression for a future EconTalk...

December 2, 2008 | Cafe Hayek

Book Forum at Cato

Here on audio or video is the talk I gave yesterday at the Cato Institute on The Price of Everything...

December 2, 2008 | Cafe Hayek

Slumdog Millionaire

Saw it this weekend...

December 2, 2008 | Cafe Hayek

Humility

Winston Churchill is supposed to have said about Clement Atlee that "he was a modest man, but then again, he has much to be modest about."...

December 2, 2008 | Cafe Hayek

FDR and FDIC

Tyler at MR quotes a speech about the beginning of the FDIC, that alleges that FDR was opposed to federal deposit insurance on moral hazard grounds...

December 2, 2008 | Cafe Hayek

Rauchway on the Great Depression and the New Deal

The latest episode of EconTalk is Eric Rauchway talking about the New Deal and the Great Depression...

December 2, 2008 | Cafe Hayek

Interview on The Price of Everything

Here's an interview with me about The Price of Everything from the Logic Consortium...

December 1, 2008 | NPR

Hear: Money Goes Haywire

We can all stop tiptoeing around the "R" word...

December 1, 2008 | Cafe Hayek

Cato reminder

Just a reminder that I'm speaking today (Monday), at noon at the Cato Institute, followed by lunch and a book signing...

November 24, 2008 | Cafe Hayek

Cassidy on the meltdown

John Cassidy does a nice job summarizing how we get here with a focus on Bernanke and the evolution of his view of the Fed...

November 24, 2008 | Cafe Hayek

Speaking at Cato on The Price of Everything

On December 1 at noon, I'll be speaking on The Price of Everything at Cato here in DC, with comments by Nick Gillespie...

November 24, 2008 | EconTalk

Hazlett on Telecommunications

Thomas Hazlett of George Mason University talks with EconTalk host Russ Roberts about a number of key issues in telecommunications and telecommunication policy including net neutrality, FCC policy, and the state of antitrust...

November 20, 2008 | Cafe Hayek

Location and myopia

In two recent posts, I talked about the enormous variation across locations in the proportion of houses in a location with negative equity along with how myopic many of us were about the fragility of the housing market and the potential for meltdown...

November 20, 2008 | Cafe Hayek

A novel idea

Douglas Holtz-Eakin, in a post-mortem on the election, (HT: Zev) concedes that McCain's biggest mistake was supporting the bailout...

November 20, 2008 | Cafe Hayek

The meaning of "quickly"

The Senate and the Washington Post use "quickly" differently than I do...

November 18, 2008 | Cafe Hayek

Will vs. Krugman (and DeLong and Econospeak)

Brad DeLong quotes commenter Steve Benen...

November 18, 2008 | Cafe Hayek

How thoughtful

Paulson has decided not to tap the second half of the $700 billion TARP...

November 18, 2008 | Cafe Hayek

Fixing the country

Obama talks about working with John McCain...

November 18, 2008 | Cafe Hayek

Where was I in 2005?

Reader Tim Allen asks a very good question...

November 14, 2008 | Cafe Hayek

Financial Meltdown

I collect my essays and other writings at InvisibleHeart.com...

November 14, 2008 | Cafe Hayek

The credit crunch

Alex (and others) have been debating whether there's a credit crunch...

November 14, 2008 | Cafe Hayek

Paulson's failure

Here is my commentary at NPR.org on Paulson's latest fiddling while financial markets burn...

November 13, 2008 | Cafe Hayek

Wisdom from Megan

She channels Bastiat and reminds us all of the power of remembering opportunity cost...

November 11, 2008 | Cafe Hayek

Location, Location, Location

Why is so much of the subprime mess concentrated in California, Arizona, Nevada, and Florida?...

November 11, 2008 | Cafe Hayek

A T-Shirt or something, please

Seanooski comments...

November 11, 2008 | Cafe Hayek

Bryan and Herbert

Bryan Caplan lists the 21 things Herbert Hoover mentioned in a 1932 speech just before the election that Hoover claimed help save the economy...

November 12, 2008 | Cafe Hayek

Fannie and Freddie Haiku

Fannie and Freddie...

November 10, 2008 | EconTalk

Kling on Credit Default Swaps, Counterparty Risk, and the Political Economy of Financial Regulation

Arnold Kling of EconLog talks with EconTalk host Russ Roberts about the role of credit default swaps and counterparty risks in the current financial mess...

November 10, 2008 | Cafe Hayek

The auto industry

We're hearing a lot of talk of how crucial the auto industry is for the country...

November 6, 2008 | Cafe Hayek

Epstein on Happiness

The latest EconTalk is Richard Epstein talking about happiness...

November 3, 2008 | EconTalk

Richard Epstein on Happiness, Inequality, and Envy

Richard Epstein of the University of Chicago talks with EconTalk host Russ Roberts about the relationship between happiness and wealth, the effects of inequality on happiness, and the economics of envy and altruism...

October 31, 2008 | Reason

Now Playing at Reason.tv: Russell Roberts on The Price of Everything

Russell Roberts, professor of economics at George Mason University, sits down with Reason.tv to discuss his latest book, The Price of Everything: A Parable of Possibility and Prosperity...

October 31, 2008 | Cafe Hayek

The Rules of the Game

Bob Higgs claims that "regime uncertainty," the uncertainty about the rules of the game, is what made the New Deal so ineffective...

October 28, 2008 | Cafe Hayek

EconTalk in the classroom

f you are a teacher using EconTalk in the classroom, I would love to hear from you about how you use it and its effectiveness...

October 27, 2008 | Cafe Hayek

Munger on Middlemen

The lastest EconTalk is Mike Munger talking about middlemen...

October 27, 2008 | EconTalk

Munger on Middlemen

Mike Munger of Duke University talks with EconTalk host Russ Roberts about the often-vilified middleman--someone who buys cheap, sells dear and does nothing to improve the product...

October 26, 2008 | Cafe Hayek

The line forms

I fear it is just the beginning...

October 23, 2008 | Cafe Hayek

Alan the Penitent

Alan Greenspan has been forced to admit the heresy of his youth...

October 23, 2008 | Cafe Hayek

My debate with Bill McKibben

I'll be debating Bill McKibben on the virtues or lack thereof of "buying local." ...

October 20, 2008 | townhall.com

The Price of Excess

Russell Roberts is pretty good at spreading free-market economic ideas into places where they might not ordinarily be appreciated -- namely, National Public Radio and the op-ed pages of The New York Times...

October 20, 2008 | EconTalk

Shirky on Coase, Collaboration and Here Comes Everybody

Clay Shirky, author of Here Comes Everybody: The Power of Organizing Without Organizations, talks about the economics of organizations with EconTalk host Russ Roberts...

October 13, 2008 | Cafe Hayek

Rewriting history

With financial markets in tatters and the housing market in shreds, it is popular to claim that it's all the fault of Reagan-era deregulation...

October 13, 2008 | Cafe Hayek

Krugman's prize

Everyone has their own least favorite Krugman quote...

October 13, 2008 | Cafe Hayek

Seasteading

The latest episode of EconTalk is a conversation with Patri Friedman on seasteading, the creation of autonomous private places to live on the ocean...

October 8, 2008 | Cafe Hayek

A bad sign

You know that things aren't going well when the vertical axis for the stock market chart on the front page of the New York Times web page is measured in percent instead of hundreds of points...

October 7, 2008 | Cafe Hayek

State-level subsidies

Did you know that states have housing finance agencies to promote affordable housing, too? ...

October 7, 2008 | Cafe Hayek

Vote Don't Vote

I'm thinking of not voting this year...

October 3, 2008 | Cafe Hayek

Learning the wrong lessons

A nice piece by William Easterly in the WSJ on what poor nations learned from the myth of the Great Depression...

October 6, 2008 | EconTalk

Bernstein on Inequality

William Bernstein, author of A Splendid Exchange, talks with EconTalk host Russ Roberts about inequality...

October 3, 2008 | Cafe Hayek

Government's Role

Here is my piece in the WSJ on government's role in the mess...

September 29, 2008 | Cafe Hayek

Separation of Press and State

This (HT: John Lott and Drudge) is almost as scary as the bailout...

September 28, 2008 | Cafe Hayek

More on manufactured homes

In this post, I provided excerpts from an article describing how Congress had leaned on Fannie Mae to encourage loans for mobile homes, known in the industry as manufactured homes...

September 29, 2008 | EconTalk

Kling on Freddie and Fannie and the Recent History of the U.S. Housing Market

Arnold Kling of EconLog talks with host Russ Roberts about the economics of the housing market with a focus on the role of Fannie Mae and Freddie Mac...

September 28, 2008 | Cafe Hayek

Fannie and "manufactured homes"

In Ed Gramlich's book on the subprime market, he mentions almost in passing that HUD even required Fannie and Freddie to support the purchases of mobile homes, what are formally called "manufactured homes."...

September 25, 2008 | Cafe Hayek

How they think vs. how I think

The White House is trying to argue that the bailout isn't so bad, it might not really cost $700 billion because some of the assets will appreciate in value...

September 24, 2008 | NPR

Human Greed Lies At Root Of Economic Crisis

As Fed and Treasury officials scramble to secure a $700 billion rescue for faltering financial institutions, economists are pointing fingers of blame at just about everyone: lenders, bankers and borrowers...

September 24, 2008 | New Yorker

Book Bench: Selected E-Mails: Russell Roberts

Russell Roberts, a professor of economics at George Mason University, writes in one of the more intriguing genres we’ve come across lately: that of the economic novel, or the economic romance, as his books have been described by his publishers...

September 23, 2008 | Cafe Hayek

Two out of three isn't bad

John McCain on 60 Minutes suggested Andrew Cuomo as the person he would put in charge of the SEC...

September 23, 2008 | Cafe Hayek

Some bubble

I have mentioned the argument of Robert Shiller's that the housing boom of the last ten years was a bubble, a result of social contagion...

September 23, 2008 | Cafe Hayek

Shameful

From the AP (HT: Drudge): Congress is poised to vote on the biggest government intervention in the financial markets since the Great Depression, but it’s unlikely that any of the three senators vying for the White House will be there – even though all three have talked of little else for over a week...

September 23, 2008 | Cafe Hayek

Krugman gets the facts wrong

Back in July, as Fannie and Freddie were starting to implode, Krugman concluded that Fannie and Freddie weren't part of the subprime crisis:...

September 22, 2008 | Cafe Hayek

Stiglitz on the crisis

In a recent comment, TopCat asks:...

September 22, 2008 | Cafe Hayek

It's not the CRA

Mark Thoma explains why the CRA is not the cause of the current crisis...

September 21, 2008 | Cafe Hayek

The World of the States

From Christian Broda, here is what a map of the states would look like if each state were a country with the same sized economy:...

September 21, 2008 | Cafe Hayek

Shiller and fundamentals

Last week's EconTalk episode was with Robert Shiller...

September 22, 2008 | Cafe Hayek

The role of the CRA

The Community Reinvestment Act was signed by Carter in 1977...

September 22, 2008 | EconTalk

Karol Boudreaux on Wildlife, Property, and Poverty in Africa

Karol Boudreaux, Senior Research Fellow at the Mercatus Center at George Mason University, talks with EconTalk host Russ Roberts about wildlife management in Africa...

September 21, 2008 | Cafe Hayek

And don't forget Andrew Cuomo

Starting in 1997, Clinton's head of HUD aggressively pushed the GSEs to subsidize the subprime market...

September 22, 2008 | Cafe Hayek

Bear Stearns, the CRA, and Freddie Mac

I keep hearing that the subprime crisis was caused by people willing to buy stuff they couldn't evaluate...

September 19, 2008 | Cafe Hayek

Calm down

Some people are misinterpreting my goal in my set of posts today in the new "Government intervention in housing" category...

September 18, 2008 | Cafe Hayek

Quote of the day

Arnold Kling at EconLog:...

September 15, 2008 | Cafe Hayek

Panderer in chief

For me, this video captures much of what is wrong with the political process in America...

September 15, 2008 | Cafe Hayek

In defense of used books

A reader commented asking if there was anything in The Price of Everything about buying books on Ebay...

September 12, 2008 | Cafe Hayek

A multiple choice question on gasoline shortages

The Knoxville News Sentinel is reporting severe gasoline shortages (HT: Instapundit):...

September 15, 2008 | EconTalk

Shiller on Housing and Bubbles

Robert Shiller of Yale University talks with EconTalk host Russ Roberts about the current housing mess and related financial market problems...

September 13, 2008 | John Batchelor Show

Batchelor this Week

Russell Roberts, author, Hoover Institution, "The Price of Everything: A Parable of Possibility and Prosperity," re the credit crisis, the Detroit failures, the Lehman Brothers moral hazard...

September 10, 2008 | Cafe Hayek

Who is to blame?

Somebody asked me the other day—whose fault is it that Freddie and Fannie are on the ropes?...

September 8, 2008 | Cafe Hayek

Freddie and Fannie

Following its knee-jerk, free-market, Milton Friedman obsessed ideology, the Bush Administration has seized control of Fannie Mae and Freddie Mac...

September 8, 2008 | Cafe Hayek

Gagging Google

More free market theology from the Bush administration...

September 8, 2008 | Cafe Hayek

Solow on financial institutions

This article by Robert Solow is ostensibly a review of a book by Kevin Phillips...

September 8, 2008 | Cafe Hayek

Money and Politics

Muirgeo, in a comment to this post, writes:...

September 8, 2008 | Cafe Hayek

Kling on Freddie and Fannie

Here is Arnold writing very lucidly on the situation...

September 8, 2008 | EconTalk

Ellis on American Creation and the Founding

Joseph Ellis, of Mt. Holyoke College and author of American Creation, talks about the triumphs and tragedies of the founding of the United States...

September 3, 2008 | Cafe Hayek

Blinded by partisanship

When I first took economics, I learned from my textbook (Samuelson) the fallacy of post hoc, ergo propter hoc...

September 3, 2008 | Cafe Hayek

Samuelson on standard of living

Robert Samuelson does a nice job explaining why living standards are rising even though we sometimes hear otherwise:...

September 2, 2008 | Cafe Hayek

Monetary genius

Usually totalitarian regimes lop off heads, but Iran is considering lopping off zeros (HT: Ewin Barnett):...

August 29, 2008 | Cafe Hayek

Yes, by all means, choose the teachers

I'm sure Joe Biden's acceptance speech was worded carefully:...

September 1, 2008 | Cafe Hayek

Chapter Two of The Price of Everything

Chapter Two of The Price of Everything is now available: HTML and PDF...

August 29, 2008 | Cafe Hayek

The Divorce Rate

Charlie, in the comments to this post, refers to a post by Justin Wolfers (who was guest blogging at MR) on the supposed divorce myth...

August 31, 2008 | Cafe Hayek

Measuring inequality (with contest results)

In this earlier post, I challenged readers to challenge this chart:...

September 1, 2008 | EconTalk

Rauch on the Volt, Risk, and Corporate Culture

Jonathan Rauch, of the Brookings Institution and the Atlantic Monthly, talks with EconTalk host Russ Roberts about the evolution of the Chevy Volt, GM's planned electric car...

August 25, 2008 | Cafe Hayek

Hayek in the Classroom

Over the years I have come to appreciate the depth of Hayek's insights, particularly in "The Use of Knowledge in Society," his 1945 American Economic Review paper...

August 25, 2008 | Cafe Hayek

Technique

Technique fascinates me...

August 24, 2008 | John Batchelor Show

The John Batchelor Show

August 25, 2008 | EconTalk

Roberts on the Price of Everything

Russ Roberts, host of EconTalk and author of the economics novel, The Price of Everything, talks with guest host Arnold Kling about the ideas in The Price of Everything: price gouging, the role of prices in the aftermath of natural disaster, spontaneous order, and the hidden harmony of the economic cosmos...

August 24, 2008 | Cafe Hayek

Frank Rich, economist

After mentioning Michael Phelps's success, Rich writes:...

August 21, 2008 | Cafe Hayek

Gasoline Prices

The price of regular unleaded is falling about a penny a day...

August 19, 2008 | Cafe Hayek

The Price of Everything on the Kindle

A number of people have asked about whether The Price of Everything will be on the Kindle...

August 19, 2008 | Cafe Hayek

Economics Crimes

It is a crime to profit from helping others...

August 19, 2008 | Cafe Hayek

Inequality Chart Contest

Recently, Don welcomed Muirgeo back to the comments section of the blog and I noticed a mere 242 comments were made in response...

August 18, 2008 | Cafe Hayek

On the Kindle and other gadgets

I have now read five entire books on the Kindle—The Other, Anna Karenina, SuperCapitalism, My Sister's Keeper, and Complications—a mix of short fiction, long (OK, very long) fiction, and nonfiction...

August 18, 2008 | Cafe Hayek

First Chapter of The Price of Everything

The first chapter of The Price of Everything is now available online here in HTML or here in PDF...

August 18, 2008 | EconTalk

John Taylor on Monetary Policy

John Taylor of Stanford University talks about the Taylor Rule, his description of what the Fed ought to do and what it sometimes actually does, to keep inflation in check and the economy on a steady path...

August 11, 2008 | EconTalk

Bueno de Mesquita on Iran and Threats to U.S. Security

Bruce Bueno de Mesquita of Stanford University's Hoover Institution and New York University talks to EconTalk host Russ Roberts about threats to U.S. security, particularly Iran...

August 5, 2008 | Cafe Hayek

The Price of Everything at Amazon

Just wanted to let Cafe patrons know that my new book, The Price of Everything, will be shipping later this week from Amazon...

August 1, 2008 | Cafe Hayek

Conservatives vs. Libertarians

Steve Chapman writes eloquently on what are called consent searches:...

August 4, 2008 | EconTalk

Barro on Disasters

Robert Barro of Harvard University and Stanford University's Hoover Institution talks about disasters--significant national and international catastrophes such as the Great Depression, war, and the flu epidemic in the early part of the 20th century...

July 30, 2008 | Cafe Hayek

The Volt

Jonathan Rauch profiles the Volt, GM's electric car...

July 28, 2008 | EconTalk

Varian on Technology

Hal Varian, Google's Chief Economist and University of California at Berkeley professor, talks with Russ Roberts about Google, the role of technology in our everyday lives, the unintended paths of innovation, and the value of economics...

July 22, 2008 | Cafe Hayek

Southwest knows more than we do

Both Bryan Caplan and David Friedman think the purpose of boarding pass numbers is to get the people on the plane more quickly...

July 22, 2008 | Cafe Hayek

Coase and California

One of the deepest insights of Coase's 1960 article on externalities is the understanding that externalities are reciprocal and that rules and norms affect how much care people take in a risky situation when they are linked to others...

July 21, 2008 | Cafe Hayek

Skepticism about prices

Arnold writes: Russ Roberts' not-yet-released novel The Price of Everything starts out by making the economic case for the snow shovel pricing mechanism...

July 21, 2008 | Cafe Hayek

Tax facts to remember

From the Tax Foundation: The latest release of Internal Revenue Service data on individual income taxes comes from calendar year 2006, a year in which the economy remained healthy and continued to grow, increasing individual income tax collections along with overall average effective tax rates...

July 21, 2008 | Cafe Hayek

Brains

Are our brains being affected by technology?...

July 21, 2008 | EconTalk

Rivers on polling

Doug Rivers of Stanford University and YouGov.com talks with EconTalk host Russ Roberts about the world of political polling...

July 16, 2008 | Cafe Hayek

The Visitor

I saw The Visitor last night, the story of an economics professor who gets entangled with a couple of illegal immigrants and whose life changes because of his relationships with them...

July 14, 2008 | Cafe Hayek

Ellis on the American Creation

I recently saw Joseph Ellis speak on the founding...

July 11, 2008 | Cafe Hayek

Capitalism is Dead

Capitalism is dead...

July 14, 2008 | EconTalk

Hanushek on Education and School Finance

Eric Hanushek of Stanford University's Hoover Institution talks with EconTalk host Russ Roberts about the strange evolution of school finance in the last four decades...

July 10, 2008 | Cafe Hayek

Oil Speculation

This email arrived in my inbox this morning from United Airlines:...

July 9, 2008 | Cafe Hayek

Compulsory Volunteering

Here is a superb post on the Orwellian idea of compulsory volunteering...

July 9, 2008 | Cafe Hayek

Incentives, incentives

Justin Bowen comments at EconTalk and points readers to an analysis of special education showing the power of incentives...

July 8, 2008 | Cafe Hayek

Passover, Coke, and Ethanol

During Passover, traditional Jews from Eastern Europe have a custom of avoiding corn along with flour and bread and other forbidden foods...

July 7, 2008 | Cafe Hayek

Munger on public transportation

The latest episode of EconTalk is a conversation with Mike Munger about what happened in Santiago when the private bus system was replaced with a public system promising a more equitable and efficient system...

July 7, 2008 | Cafe Hayek

More Kindling

Just finished my first book on the Kindle—The Other, by David Guterson—and thought I'd share a few more thoughts on the Kindle experience...

July 7, 2008 | EconTalk

Munger on the Political Economy of Public Transportation

Michael Munger of Duke University talks with EconTalk host Russ Roberts about Munger's recent trip to Chile and the changes Chile has made to Santiago's bus system...

June 30, 2008 | Cafe Hayek

Kling on health care management

The latest episode of EconTalk is a conversation with Arnold Kling on how to improve health care outcomes in hospitals...

June 27, 2008 | Cafe Hayek

Kindling

I broke down and bought a Kindle...

June 30, 2008 | EconTalk

Kling on Hospitals and Health Care

Arnold Kling EconLog talks with EconTalk host Russ Roberts about the death of his father and the lessons to be learned for how hospitals treat patients and our health care system treats hospitals...

June 23, 2008 | EconTalk

McKenzie on Prices

Richard McKenzie of the University California, Irvine and the author of Why Popcorn Costs So Much at the Movies and Other Pricing Puzzles, talks with EconTalk host Russ Roberts about a wide range of pricing puzzles...

June 19, 2008 | Cafe Hayek

Brain stuff

This is an amazing 18 minute talk by neuroanatomist Jill Bolte Taylor talking about the stroke she had...

June 19, 2008 | Cafe Hayek

Egalitarian?

Dew-Becker and Gordon write (HT: Arnold Kling):...

June 18, 2008 | Cafe Hayek

Pennies from Heaven

In this earlier post, I wrote asked why live theater is so much more effective than filmed theater...

June 16, 2008 | Cafe Hayek

The Tragedy of Elian

My new book, The Price of Everything: A Parable of Possibility and Prosperity, is a novel that tries to help the reader understand a bunch of related topics--the role of prices in steering resources, the role of prices in creating innovation, the role of prices in letting us weave our own dreams of what we want to buy and how we want to spend our lives...

June 16, 2008 | EconTalk

Don Boudreaux on Energy Prices

Don Boudreaux of George Mason University talks with EconTalk host Russ Roberts about the recent surge in energy prices...

June 15, 2008 | Cafe Hayek

Musical Theater

I was in New York the other day and had the chance to see Curtains...

June 12, 2008 | Cafe Hayek

Better

Anytime you hear people talking about how dangerous and polluted and horrible life is in the United States, remind them of this:...

June 9, 2008 | EconTalk

Cole on the Market for New Cars

Steve Cole, the Sales Manager at Ourisman Honda of Laurel in Laurel, Maryland talks with EconTalk host Russ Roberts about the strange world of new car pricing...

June 2, 2008 | EconTalk

Gene Epstein on Gold, the Fed, and Money

Gene Epstein, Barron's economics editor, talks to EconTalk host Russ Roberts about the virtues of the gold standard relative to fiat money...

May 29, 2008 | Cafe Hayek

The Virtues of Innocence

In my recent podcast with Robin Hanson, he mentioned a Paul Graham essay, "Lies We Tell Kids."...

May 28, 2008 | Cafe Hayek

The Good Old Days in China

In the most recent New York Times Sunday Book Review, Dongping Han, a teacher of history and political science at Warren Wilson College in North Carolina, had a letter defending the Cultural Revolution:...

May 26, 2008 | EconTalk

Hanson on Signalling

Robin Hanson of George Mason University talks about the phenomenon of signalling--the ways people spend resources to convey information about ourselves to others...

May 22, 2008 | Cafe Hayek

Why prices rise

Steve Mufson at the Washington Post is bewitched, bothered, and bewildered about why oil prices keep rising...

May 22, 2008 | Cafe Hayek

The Price of Everything at Amazon

My new book, The Price of Everything: A Parable of Possibility and Prosperity is now available for pre-order at Amazon for the lovely low price of $16.47 in hardcover...

May 22, 2008 | Cafe Hayek

There is always a substitute

Economists usually argue that as oil gets more expensive, there is an incentive to discover new technologies and to switch to existing technologies that are only financially viable when oil prices rise...

May 22, 2008 | Cafe Hayek

Lentil stew for everyone!

The National Post editorializes (HT: Nathaniel Clarkson) on the moral high ground being claimed by the Democratic Party's plans for their August convention in Denver:...

May 20, 2008 | Cafe Hayek

None of your business

My wife recently took our 13 year-old son to the doctor for his annual checkup...

May 20, 2008 | Cafe Hayek

Willie Sutton and Greg Mankiw

The Boston Globe reports (HT: Greg Mankiw) that politicians in Massachusetts have proposed a 2.5% tax on university endowments that exceed $1 billion...

May 19, 2008 | EconTalk

Meltzer on the Fed, Money, and Gold

Allan Meltzer of Carnegie Mellon University talks with EconTalk host Russ Roberts about what the Fed really does and the political pressures facing the Chair of the Fed...

May 12, 2008 | EconTalk

Chris Anderson on Free

Chris Anderson talks with EconTalk host Russ Roberts about his next book project based on the idea that many delightful things in the world are increasingly free--internet-based email with infinite storage, on-line encyclopedias and even podcasts, to name just a few...

May 14, 2008 | Cafe Hayek

Adam Smith on the China tragedy

Here is Adam Smith on the human capacity for selfishness and for something that goes beyond selfishness:...

May 5, 2008 | EconTalk

Nye on Wine, War and Trade

John Nye of George Mason University talks with EconTalk host Russ Roberts about his book, War, Wine, and Taxes...

May 2, 2008 | Cafe Hayek

There are no prostitutes in Israel

Early this morning, I turned my radio on and heard the very end of an interview on talk radio...

April 28, 2008 | EconTalk

Bernstein on the History of Trade

William Bernstein talks with EconTalk host Russ Roberts about the history of trade...

April 28, 2008 | Cafe Hayek

Sickness is bad for your health

Evidently, smoking, obesity and diabetes are bad for your health...

April 25, 2008 | Cafe Hayek

Families and percentiles

As I have written here before, looking at slices of the population over time is a very misleading indicator of what happens to particular families over time, particularly when family composition is changing...

April 21, 2008 | EconTalk

Roberts on the Least Pleasant Jobs

EconTalk host Russ Roberts talks about the claim that for capitalism to succeed there have to be people at the bottom to do the unpleasant tasks and that the rich thrive because of the suffering of those at the bottom...

April 14, 2008 | Cafe Hayek

Coyle on the soulful science

Diane Coyle talks about her book, The Soulful Science, in the latest episode of EconTalk...

April 14, 2008 | EconTalk

Coyle on the Soulful Science

Diane Coyle talks with EconTalk host Russ Roberts about the ideas in her new book, The Soulful Science: What Economists Really Do and Why it Matters...

April 10, 2008 | Cafe Hayek

The Strange World of Harold Meyerson

Harold Meyerson in the Washington Post wants America's trade policy to help Americans...

April 9, 2008 | Cafe Hayek

Bill vs. Barack

The Washington Times recently published this letter by William Hawkins...

April 8, 2008 | Cafe Hayek

Striking out

Sometimes I get depressed about the quality of statistical work in economics...

April 4, 2008 | Cafe Hayek

Unintended Lesson

Last night, Hillary Clinton was on the Tonight Show and she gave a phenomenal example of the power of economics...

April 7, 2008 | EconTalk

Coyne on Exporting Democracy after War

Christopher Coyne of West Virginia University and George Mason University's Mercatus Center talks with EconTalk host Russ Roberts about his book, After War: The Political Economy of Exporting Democracy...

April 7, 2008 | Cafe Hayek

Iraq and Germany

As the aftermath of the Iraq war continues to be chaotic, there is a tendency to hope that this is just a passing phase and that time and action, such as the surge, will lead to better outcomes in the future...

April 1, 2008 | Cafe Hayek

McCloskey on capitalism and the virtues

The latest EconTalk is a conversation with Deirdre McCloskey on capitalism, community, the virtues, agricultural romance, religion and a few other topics along the way...

March 31, 2008 | EconTalk

McCloskey on Capitalism and the Bourgeois Virtues

Deirdre McCloskey of the University of Illinois at Chicago and the author of The Bourgeois Virtues talks with EconTalk host Russ Roberts about capitalism and whether markets make people more ethical or less....

March 26, 2008 | Cafe Hayek

Bear Stearns Debacle

Here is my piece on the Bear Stearns debacle that aired on NPR's All Things Considered....

March 26, 2008 | Cafe Hayek

Always Looking Out for the Little Guy

You know how politicians are--always looking out for the little guy....

March 24, 2008 | EconTalk

Munger on Subsidies and Externalities

Mike Munger of Duke University talks with EconTalk host Russ Roberts about the economics of subsidies....

March 24, 2008 | Cafe Hayek

Are workers falling behind because of rising health care costs?

As is often the case, the glass is half-empty over at the Washington Post....

March 17, 2008 | EconTalk

Cowen on Monetary Policy

Tyler Cowen of George Mason University and Marginal Revolution talks with EconTalk host Russ Roberts about money, inflation, the Federal Reserve and the gold standard...

March 19, 2008 | Cafe Hayek

Cowen on money

The latest EconTalk is a conversation with Tyler Cowen on money...

March 12, 2008 | Cafe Hayek

How do we know what we know about economics?

I was asked the other day by a reporter if NAFTA had been a good thing or a bad thing for America. I said that both the proponents and opponents of NAFTA had no legitimate, unassailable or even suggestive, statistical evidence on their side...

March 11, 2008 | Cafe Hayek

Markets and Community

The latest EconTalk is Stephen Marglin talking about his new book, The Dismal Science: How Thinking Like an Economist Undermines Community...

March 10, 2008 | EconTalk

Marglin on Markets and Community

Stephen Marglin of Harvard University and author of The Dismal Science: How Thinking Like an Economist Undermines Community talks with EconTalk host Russ Roberts about the markets and community...

February 29, 2008 | Cafe Hayek

More on debt

Martin Brock, in response to this post, writes...

February 29, 2008 | Cafe Hayek

Stagnation Contest

Spencer suggests in a recent comment that no one is really claiming that middle class incomes are stagnant and to dispute this claim is to attack a straw man...

February 28, 2008 | Cafe Hayek

Half Full or Half Empty?

In this post, I showed that net worth per household had risen dramatically in recent years...

February 25, 2008 | Cafe Hayek

Sowell on EconTalk

The latest EconTalk features Thomas Sowell talking about his new book, Economic Facts and Fallacies...

February 25, 2008 | EconTalk

Sowell on Economic Facts and Fallacies

Thomas Sowell of Stanford University's Hoover Institution talks with EconTalk host Russ Roberts about the ideas in his new book, Economic Facts and Fallacies...

February 20, 2008 | NPR

Take Politicians' Promises With a Pound of Salt

Commentator Russell Roberts says we all have a yearning for a candidate with principles and ideals...

February 21, 2008 | Cafe Hayek

Wealth, Savings and Debt

One comment on this post about the state of America mentioned our rising debt, negative savings and so on...

February 21, 2008 | Cafe Hayek

Vermeer's Hat

The latest EconTalk is a conversation with Timothy Brook, author of Vermeer's Hat, a lovely book that looks at the dawn of globalization in the 17th century by examining Vermeer's paintings and other bits of Dutch culture...

February 21, 2008 | Cafe Hayek

Prosperity and making stuff

Harold Meyerson thinks we've become a nation of shoppers rather than a nation of producers...

February 19, 2008 | EconTalk

Brook on Vermeer's Hat and the Dawn of Global Trade

Timothy Brook, professor of history at the University of British Columbia and author of Vermeer's Hat: The Seventeenth Century and the Dawn of the Global World, talks with EconTalk host Russ Roberts about the expansion of global trade between Europe and the rest of the world, and in particular, North American and China...

February 11, 2008 | Cafe Hayek

Nasty dogs?

Arnold at EconLog has a very nice post on the environmental impact of dogs...

February 11, 2008 | EconTalk

Easterly on Growth, Poverty, and Aid

William Easterly of NYU talks about why some nations escape poverty while others do not, why aid almost always fails to create growth, and what can realistically be done to help the poorest people in the world...

February 11, 2008 | Cafe Hayek

The Realist

The latest EconTalk is here—William Easterly talking about the ideas in his two books, The Elusive Quest for Growth and The White Man's Burden...

February 5, 2008 | Cafe Hayek

The vanishing middle class

Here is a very nice video from Reason.TV of Drew Carey talking about how the middle class actually is alive and well...

February 5, 2008 | Cafe Hayek

The People's Romance

The latest EconTalk is a conversation with my colleague Dan Klein on the economics of coordination—how markets connect people around the world doing various parts of a task that get combined into a finished product without any of the people contributing the task necessarily knowing that they're working together...

February 4, 2008 | EconTalk

Dan Klein on Coordination and Cooperation

Dan Klein of George Mason University talks with EconTalk host Russ Roberts about the marvel of economic coordination that takes place without a coordinator--the sequence of complex tasks done by individuals often separated by immense distances who unknowingly contribute to everyday products and services we enjoy...

January 31, 2008 | Cafe Hayek

Feedback, knowledge and the division of labor

Arnold Kling over at EconLog tells the poignant story of worrying about his father's health care...

January 31, 2008 | Cafe Hayek

The Wonky Genius

Bill Clinton is considered a policy wonk, the guy who really understands the details of public policy...

January 31, 2008 | Cafe Hayek

Snapping his fingers

I debated an economist the other day on the stimulus package..

January 31, 2008 | Cafe Hayek

Telling Stories

Which of these stories is right?

January 29, 2008 | Cafe Hayek

The case for Clemens

Here's a statistical analysis of the career of Roger Clemens, purporting to show that his career trajectory is similar to that of Randy Johnson, Curt Shilling and Nolan Ryan, three people who presumably did not take steroids...

January 28, 2008 | EconTalk

Collier on the Bottom Billion

Paul Collier of Oxford University talks about the ideas in his recent book, The Bottom Billion, an analysis of why the poorest countries in the world fail to grow...

January 28, 2008 | Cafe Hayek

The Bottom Billion

The latest EconTalk is a conversation with Paul Collier about the ideas in his book, The Bottom Billion...

January 25, 2008 | Cafe Hayek

Unintended Consequences

Alex at Marginal Revolution has some interesting things to say on unintended consequences...

January 24, 2008 | Cafe Hayek

The point about minimum wages

Some people seem to have misunderstood the point about this post on minimum wages...

January 24, 2008 | Cafe Hayek

Stimulie, II

Here is federal tax revenue collected from the income tax on individuals from 2000-2006, reported by the CBO (Tab #3), measured in billions of dollars...

January 21, 2008 | Cafe Hayek

Winners and losers from trade

This week's podcast is with Don Boudreaux, my co-host here at the Cafe and the author of Globalization, a superb primer on trade policy and the phenomenon of globalization...

January 22, 2008 | Cafe Hayek

Stimulie, I

After my commentary on NPR, I spent a lot of time last week talking to bright non-economists about the various proposals to stimulate the economy by giving people money...

January 21, 2008 | EconTalk

Don Boudreaux on Globalization and Trade Deficits

Don Boudreaux, of George Mason University, talks about the ideas in his book, Globalization...

January 17, 2008 | Cafe Hayek

Stimulus

Here is my commentary from NPR's All Things Considered on why a stimulus package is unlikely to stimulate...

January 16, 2008 | Cafe Hayek

Not stagnant

Here is Harold Meyerson in the Washington Post, singing the same old false song (HT: Co-host Don Boudreaux)...

January 14, 2008 | Cafe Hayek

Munger on the firm

Here is the latest EconTalk, Mike Munger talking about the Coase and transaction costs and the nature of the firm...

January 14, 2008 | EconTalk

Munger on the Nature of the Firm

Mike Munger, of Duke University, talks about why firms exist...

January 14, 2008 | Cafe Hayek

On the job leisure

Many of us have jobs that allow us to take our leisure on the job throughout the day and at our own discretion...

January 10, 2008 | Cafe Hayek

Competition, everywhere

I have believed for a while now that an important reason that suburban public schools outperform urban public schools is that suburban public schools have to keep the parents happier because of the competition from private schools...

January 8, 2008 | Cafe Hayek

Virtual Salami

Since interviewing Edward Castronova, I've continued thinking about how prominent these virtual playgrounds are going to be in our lives...

January 7, 2008 | Cafe Hayek

Exodus to the virtual world

The latest EconTalk is Edward Castronova talking about his new book, Exodus to the Virtual World...

January 7, 2008 | EconTalk

Edward Castronova on the Exodus to the Virtual World

Edward Castronova, of Indiana University and author of Exodus to the Virtual World, talks about his provocative thesis that a growing number of people around the world will be spending more and more time playing multiplayer games in virtual reality both as a form of escape and as a search for meaning...

January 3, 2008 | Cafe Hayek

Government cheer

Even government is getting better all the time...

January 3, 2008 | Cafe Hayek

Just for fun

Let's see who gets the closest (from Real Clear Politics)..

January 3, 2008 | Cafe Hayek

Voting paradox

If you live in New Hampshire, why should the failure of your favorite candidate for President to meet expectations in Iowa change your vote?

December 17, 2007 | Cafe Hayek

Global warming causes everything, Part II

Here from the Washington Post are just a few of the ways people are going to die because of global warming...

December 17, 2007 | Cafe Hayek

Naivete

Paul Krugman thinks that Obama's naive in thinking that he can change the country by being more congenial...

December 17, 2007 | Cafe Hayek

Property rights in Africa

The latest episode of EconTalk is Karol Boudreaux talking about the effects of letting people own things--giving coffee bean growers in Rwanda more freedom to do what they want with their beans and letting people in South Africa own their own houses...

December 17, 2007 | EconTalk

Karol Boudreaux on Property Rights and Incentives in Africa

Karol Boudreaux, Senior Research Fellow at George Mason University's Mercatus Center, talks with EconTalk host Russ Roberts about her field work and research in Rwanda and South Africa...

December 14, 2007 | Cafe Hayek

Clemens vindicated

The uproar this morning is that Roger Clemens, someone who everyone agrees is one of the best pitchers of all time, is a cheater, a steroids user going back to 1998...

December 13, 2007 | Cafe Hayek

Typepad and the "remember personal info" when commenting

We've all been frustrated at times by the weird problem of having checked "Remember Personal Info" on the comment form and finding that when we go to comment again, it's all blank...

December 12, 2007 | Cafe Hayek

Intro to the wonderful world of Austrian economics

The latest EconTalk features Pete Boettke talking about what makes Austrian economics both different and useful...

December 12, 2007 | Cafe Hayek

Storms are more like Super Bowl Sunday and less like Valentine's Day

One more way the world is getting better (the Oregonian reports)...

December 10, 2007 | EconTalk

Boettke on Austrian Economics

Pete Boettke, of George Mason University, talks with EconTalk host Russ Roberts about the origins and tenets of Austrian economics...

December 6, 2007 | Cafe Hayek

Pigs Still Don't Fly

In this recent essay, I discuss how politicians are driven by incentives rather than ideology or party...

December 6, 2007 | Cafe Hayek

The change in our standard of living

My next book, The Price of Everything, is about the transformation of our standard of living and wealth creation...

December 3, 2007 | EconTalk

Munger on Fair Trade and Free Trade

Mike Munger, frequent guest and longtime Econlib contributor, speaks with EconTalk host Russ Roberts about fair trade coffee and free trade agreements...

December 4, 2007 | Cafe Hayek

Not from the Onion

I'm having a little trouble figuring out what to say about this story...

December 4, 2007 | Cafe Hayek

Fair trade and free trade

Here's the latest EconTalk: Mike Munger and I talk about fair trade coffee and free-trade agreements...

December 3, 2007 | Cafe Hayek

Self-imposed sanctions

Joan Robinson once said (anyone out there have a source?), just because your neighbor puts rocks in his harbors to keep out your boats, that doesn't mean it makes sense for you to do the same...

December 3, 2007 | Cafe Hayek

Everything is caused by global warming

Six hundred things and counting...

November 26, 2007 | EconTalk

Botkin on Nature, the Environment and Global Warming

Daniel Botkin, ecologist and author, talks with EconTalk host Russ Roberts about how we think about our role as humans in the natural world, the dynamic nature of environmental reality and the implications for how we react to global warming...

November 26, 2007 | Cafe Hayek

Nature

The latest episode of EconTalk is a conversation with Daniel Botkin...

November 20, 2007 | Cafe Hayek

Caveat Emptor

Buyer beware, even when the item is only truth and the price is zero...

November 20, 2007 | Cafe Hayek

More Progress

More data from the American Housing Survey...

November 15, 2007 | EconTalk

Henry Aaron on Health Care Costs

In this bonus middle-of-the-week podcast, Henry Aaron of the Brookings Institution talks with EconTalk host Russ Roberts about health care costs...

November 15, 2007 | Cafe Hayek

Bonus podcast on health care costs

Here's a midweek bonus podcast on the issue of health care costs that came up recently at EconTalk and here at Cafe Hayek...

November 12, 2007 | EconTalk

Waldfogel on Markets, Choice, and the Tyranny of the Market

Joel Waldfogel of the Wharton School of Business talks about the idea in his new book, The Tyranny of Markets: Why You Can't Always Get What You Want...

November 13, 2007 | Cafe Hayek

Why we trade

Here's my attempt in about 1000 words to explain the relative importance of imports and exports and the total unimportance of the trade deficit...

November 12, 2007 | Cafe Hayek

Market tyranny?

For Joel Waldfogel, the glass always seems to be half-empty...

November 9, 2007 | Cafe Hayek

His Fault

I get it...

November 8, 2007 | Cafe Hayek

Made in ?, Part II

This post has created some interesting discussion in the comments...

November 7, 2007 | Cafe Hayek

Sunstein nails it

Here is Cass Sunstein in his new book, Worst-Case Scenarios, talking about how we should take into account the well-being of future generations...

November 6, 2007 | Cafe Hayek

Sowell on 'giving back'

I really dislike the phrase "giving back..."

November 5, 2007 | Cafe Hayek

Romer transcript

An edited transcript of my podcast with Paul Romer is now up at the Library of Economics and Liberty...

November 5, 2007 | Cafe Hayek

Cut those costs!

If the government paid for everybody's health care, some argue that we'd save money by cutting out administrative costs...

November 5, 2007 | Cafe Hayek

The big impact of pharmaceutical industry profits

Proponents of a single-payer system in health care argue that it would save costs because of lower industry profits and lower administrative costs...

November 5, 2007 | EconTalk

Arnold Kling on the Economics of Health Care and the Crisis of Abundance

Arnold Kling of EconLog talks with EconTalk host Russ Roberts about the economics of health care and his book, A Crisis of Abundance: Rethinking How We Pay for Health Care...

November 5, 2007 | Cafe Hayek

Growth in health care expenditures

This week's EconTalk is with Arnold Kling talking about health care...

November 5, 2007 | Cafe Hayek

EconTalk reminder

EconTalk has been nominated for best podcast as part of the 2007 Weblog Awards...

November 2, 2007 | Cafe Hayek

Vote for EconTalk

EconTalk has been nominated for best podcast in the 2007 Weblog Awards...

November 1, 2007 | Cafe Hayek

My response to Robin's latest

Robin Hanson continues to give me a hard time...

October 29, 2007 | Cafe Hayek

A few more empirical thoughts

Colleague Robin Hanson gives me a hard time over at Overcoming Bias (reacting to this earlier post)...

October 29, 2007 | EconTalk

Yandle on the Tragedy of the Commons and the Implications for Environmental Regulation

Bruce Yandle of Clemson University and George Mason University's Mercatus Center looks at the tragedy of the commons and the various ways that people have avoided the overuse of resources that are held in common...

October 29, 2007 | Cafe Hayek

Tragedy of the commons

Here is Bruce Yandle talking about the tragedy of the commons and the evolution of regulation of the environment...

October 29, 2007 | Cafe Hayek

Bruce BDM is Good

EconTalk listeners and others will enjoy this profile of Bruce Bueno de Mesquita...

October 25, 2007 | Cafe Hayek

Progress

In 1970, according to the American Housing Survey, 36% of the 67 million households in America had air conditioning, 11% had central air. This is the earliest data available from this survey...

October 24, 2007 | Cafe Hayek

Bufoonery

In honor of Don's superb description of the politician's daily tribulations, and in honor of the start of the World Series, here are two recent examples of political bufoonery followed by a classic...

October 22, 2007 | Cafe Hayek

Fooling ourselves

At the University of Chicago, where I went to graduate school, a quote from Lord Kelvin, was carved in stone at the Social Sciences Research Building: When you cannot measure...your knowledge is meager and unsatisfactory...

October 22, 2007 | EconTalk

Ayres on Super Crunchers and the Power of Data

Ian Ayres of Yale University Law School talks about the ideas in his new book, Super Crunchers: Why Thinking-by-Numbers Is the New Way to Be Smart...

October 22, 2007 | Cafe Hayek

Consolation

I'm a lifelong Red Sox fan and I thoroughly enjoyed last night's victory over the Indians...

October 18, 2007 | Cafe Hayek

Some wisdom from Will

From George Will's latest column...

October 18, 2007 | Cafe Hayek

Stop Screening

The data are in...

October 17, 2007 | Cafe Hayek

Costs and Benefits

James Pethokoukis calls it Al Gore's $307 Trillion Gamble, pointing out the costs of actions and the benefits of inaction on global warming...

October 17, 2007 | Cafe Hayek

The Backlash

Al Gore winning the Nobel Prize has caused some folks to speak out against the religious component of global warming...

October 15, 2007 | Cafe Hayek

Misleading about Leadership

Thomas Friedman makes the case for the virtues of Al Gore's leadership relative to George Bush's...

October 15, 2007 | Cafe Hayek

Frank Talk

In the latest EconTalk, I talk with Robert Frank about the virtues of learning economics via puzzles and stories rather than graphs and equations...

October 15, 2007 | EconTalk

Robert Frank on Economics Education and the Economic Naturalist

Author Robert Frank of Cornell University talks about economic education and his recent book, The Economic Naturalist...

October 12, 2007 | Cafe Hayek

More on the race

In this recent post, I predicted that Rudy Giuliani would get the Republican nomination and that barring dramatic changes in the economic landscape or the war in Iraq, he would defeat Hillary if she gets the nomination...

October 10, 2007 | Cafe Hayek

Rudy's to lose

In the last 45 years, there has been one charismatic Republican presidential nominee...

October 8, 2007 | EconTalk

McCraw on Schumpeter, Innovation, and Creative Destruction

Thomas McCraw of Harvard University talks about the ideas of Joseph Schumpeter from his book, Prophet of Innovation: Joseph Schumpeter and Creative Destruction...

October 9, 2007 | Cafe Hayek

Some wisdom from Schumpeter

The latest EconTalk is a conversation with Thomas McCraw about the life and ideas of Schumpeter based on his recent bio of the man...

October 2, 2007 | Cafe Hayek

The virtues of liberty

The transition from communism to freedom has been disappointing in many ways...

October 1, 2007 | Cafe Hayek

Robber Barons

Here is the latest EconTalk—Don Boudreaux makes the case for getting rid of antitrust laws...

October 1, 2007 | EconTalk

Boudreaux on Market Failure, Government Failure and the Economics of Antitrust Regulation

Don Boudreaux of George Mason University talks with EconTalk host Russ Roberts about when market failure can be improved by government intervention...

October 1, 2007 | Cafe Hayek

Employment and wages

Check out this chart (HT: The Big Picture)...

September 26, 2007 | Cafe Hayek

A Grab Bag with Munger

In this podcast with Mike Munger, we talk about "getting the prices right" when choosing between recycling and throwing stuff away, whether it's a good idea to buy local for environmental reasons, peak oil, slow food, and steroids...

September 24, 2007 | EconTalk

Grab Bag: Munger and Roberts on Recycling, Peak Oil and Steroids

Mike Munger, of Duke University, and EconTalk host Russ Roberts clean up some loose ends from their previous conversation on recycling, move on to talk about the idea of buying local to reduce one's carbon footprint and then talk about the idea of peak oil...

September 20, 2007 | Cafe Hayek

Schumpeter

I'm fifty pages into Prophet of Innovation, the bio of Schumpeter by Thomas McCraw, preparing for a podcast with McCraw...

September 19, 2007 | Cafe Hayek

The Ultimate Indictment

If you want to know what's wrong with economics education in America, go here...

September 20, 2007 | Cafe Hayek

Destruction and eminent domain

Lior Strahilevitz has an interesting comment on the recent Epstein podcast...

September 19, 2007 | Cafe Hayek

The Mad Money Machine

Paul Boyer of the Mad Money Machine interviewed me for his podcast...

September 18, 2007 | Mad Money Machine

MMM-079: Meta EconTalk with Russ Roberts

An interview with the host of my favorite podcast: Russ Roberts of EconTalk available in iTunes and at EconTalk.org...

September 17, 2007 | Cafe Hayek

Epstein on zoning and Kelo

The latest EconTalk is Richard Epstein talking about zoning and Kelo...

September 13, 2007 | NPR

Rick Ankiel: In Defense of Baseball's 'Un-Natural'

Rick Ankiel of the St. Louis Cardinals — a pitcher who became a slugging outfielder after a long stint in the minors — has admitted taking human growth hormone during his uphill comeback...

September 17, 2007 | EconTalk

Epstein on Property Rights, Zoning and Kelo

Richard Epstein, of the University of Chicago and Stanford's Hoover Institution, makes the case that many current zoning restrictions are essentially "takings" and property owners should receive compensation for the last value of their land...

September 12, 2007 | Cafe Hayek

The dwindling importance of unions

Here's the stat of the week (from this WSJ article on the auto industry): UAW membership is only 190,000 workers...

September 12, 2007 | Cafe Hayek

More room

I spoke too soon...

September 11, 2007 | Cafe Hayek

The next generation

In my book, The Choice, I tell the story of a fictional small town and how it is affected by international trade...

September 10, 2007 | Cafe Hayek

Your inner economist

Tyler and I discuss your inner economist...

September 10, 2007 | EconTalk

Cowen on Your Inner Economist

Tyler Cowen, of George Mason University, talks about his new book, Discover Your Inner Economist: Use Incentives to Fall in Love, Survive Your Next Meeting, and Motivate Your Dentist...

September 6, 2007 | Cafe Hayek

Good luck, BLS

The iPod will be six years old next month...

September 6, 2007 | Cafe Hayek

Poverty and immigration

Robert Samuelson points out wisely that the measured poverty rate is a misleading measure of economic progress when there is immigration (a common theme here at the Cafe)...

September 6, 2007 | Cafe Hayek

Should charity be tax deductible?

Interesting piece in the NYT on the bang for the buck that comes from the deductibility of charity...

September 4, 2007 | Cafe Hayek

The Economics of Shame

The U.S. military is giving away soccer balls in Fallujah trying to buy love...

September 4, 2007 | Cafe Hayek

Thirteen years later

Thirteen years after NAFTA passed, the US is finally going to comply with the provision to allow Mexican truckers into the United States...

September 3, 2007 | EconTalk

George Shultz on Economics, Human Rights and the Fall of the Soviet Union

George Shultz, the Thomas W. and Susan B. Ford Distinguished Fellow at Stanford's Hoover Institution and Secretary of State under Ronald Reagan, talks with EconTalk host Russ Roberts about the role of economics in his career, the tension between morality and pragmatism in foreign policy, and the role of personalities and economics in diplomacy, particularly in US/Soviet relations in the 1980s...

September 3, 2007 | Cafe Hayek

Shultz on economics and foreign policy

This week's EconTalk is an interview with George Shultz...

August 31, 2007 | Cafe Hayek

Another strike against libertarian paternalism

In this post on energy policy, I wrote about what economists' role as policy advocates...

August 29, 2007 | Cafe Hayek

DeLong looks back

Two wonderful posts by Brad DeLong, (here and here) on the economic changes of the last century...

August 29, 2007 | Cafe Hayek

Dyson on climate

Freeman Dyson joins the ranks of those who are skeptical about the global warming "crisis" (HT to Arnold at EconLog)...

August 27, 2007 | Cafe Hayek

Romer on growth

The latest podcast at EconTalk is Paul Romer on growth...

August 27, 2007 | Cafe Hayek

Cape Cod Traffic

In a comment on a recent post of Don's about Cape Cod, Spencer asks about my prediction about Cape Cod traffic...

August 27, 2007 | EconTalk

Romer on Growth

Paul Romer, Stanford University professor and Hoover Institution Senior Fellow talks with EconTalk host Russ Roberts about growth, China, innovation, and the role of human capital...

August 13, 2007 | EconTalk

Weingast on Violence, Power and a Theory of Nearly Everything

Barry Weingast, Senior Fellow at Stanford University's Hoover Institution and the Ward C. Krebs Family Professor in the Department of Political Science at Stanford University, talks about the ideas in his forthcoming book with Doug North and John Wallis, A Conceptual Framework for Interpreting Recorded Human History...

August 9, 2007 | Cafe Hayek

Quality of Education

This week's EconTalk podcast is with Rick Hanushek...

August 9, 2007 | Cafe Hayek

Two worlds

Here is a very nice essay by GMU student Geoffrey Lea on Hayek's argument that we need to behave differently when we interact with friends and family compared to the strangers we meet in the extended order of market transactions...

August 9, 2007 | Cafe Hayek

The virtues of scalping

Here is Jeff Jacoby on the decline of anti-scalping legislation and why it's a good thing...

August 6, 2007 | EconTalk

Hanushek on Educational Quality and Economic Growth

Hoover Institution Senior Fellow Eric Hanushek talks about his research on the impact of educational quality on economic growth...

August 3, 2007 | Cafe Hayek

Title Search

I learned a lot from all the comments and suggestions I've received about the title for my next book...

August 2, 2007 | Cafe Hayek

The challenge of the title

I want to thank everyone who commented on the recent post asking for reactions to potential titles for my next book...

July 31, 2007 | Cafe Hayek

A title for my next book

I'm finishing up my next book and I'm struggling with the title...

July 30, 2007 | Cafe Hayek

Burgeoning Opera

Opera is somehow thriving in culturally backward America (HT: Maggie's Farm)...

July 30, 2007 | Cafe Hayek

When economists disagree

In the latest EconTalk, I talk with David Henderson about whether it's reasonable to presume that economists agree on various issues such as the minimum wage, trade, the causes of growth or the sources of inflation...

July 30, 2007 | EconTalk

Henderson on Disagreeable Economists

David Henderson, editor of the Concise Encyclopedia of Economics and a research fellow at Stanford's Hoover Institution, talks with EconTalk host Russ Roberts about when and why economists disagree...

July 27, 2007 | Cafe Hayek

Like a Virus

Gina Kolata writes on the front page of the New York Times...

July 23, 2007 | Cafe Hayek

BDM on Reagan and Yeltsin

This week's EconTalk features Bruce Bueno de Mesquita discussing his latest book, The Strategy of Campaigning: Lessons from Ronald Reagan and Boris Yeltsin...

July 23, 2007 | EconTalk

Bueno de Mesquita on Reagan, Yeltsin, and the Strategy of Political Campaigning

Bruce Bueno de Mesquita, professor at NYU, talks about the political economy of political campaigns and his forthcoming book, The Strategy of Campaigning: Lessons from Ronald Reagan and Boris Yeltsin...

July 18, 2007 | Cafe Hayek

Tolstoy on Hayek

David Brooks summarizes ($) President Bush's view of politics and history...

July 19, 2007 | ForaTv

Is Chinese Growth Good for the United States?

Russell Roberts speaks on Robert Frost and the Chinese Economy: Is Chinese Growth Good for the United States?

July 18, 2007 | Cafe Hayek

Tolstoy on Hayek

David Brooks summarizes ($) President Bush's view of politics and history...

July 16, 2007 | Cafe Hayek

Scalping

The latest EconTalk is a bit off the beaten track....

July 9, 2007 | Cafe Hayek

Leamer on outsourcing and competition

In the latest EconTalk episode, I talk with Ed Leamer about outsourcing, globalization and a host of related issues...

July 9, 2007 | Cafe Hayek

What the founders understood

Here is some wisdom from John Baden occasioned by the 4th of July...

July 3, 2007 | Cafe Hayek

The world isn't flat

My next EconTalk guest will be Ed Leamer...

June 21, 2007 | Cafe Hayek

A New Deal for Globalization?

In the latest issue of Foreign Affairs (HT: Fabian Franco and Nathaniel Clarkson), Kenneth Scheve and Matthew Slaughter argue that we need a New Deal for globalization...

June 18, 2007 | Cafe Hayek

The web and political philosophy

The latest EconTalk podcast is with David Weinberger talking about the ideas in his book, Everything is Miscellaneous...

June 15, 2007 | Cafe Hayek

Young entrepreneurs

Tyler, writing in the New York Times, finds a silver lining in America's mediocre education system and makes some interesting observations about teenagers and entrepreneurship...

June 15, 2007 | Cafe Hayek

Wonderful world

Monday's EconTalk podcast will be with David Weinberger who has many interesting things to say about the way we use the web to organize information, based on his book, Everything is Miscellaneous...

June 13, 2007 | Cafe Hayek

The myth of the rational voter

I just interviewed Bryan Caplan on his new book, The Myth of the Rational Voter: Why Democracies Choose Bad Policies, for an upcoming EconTalk podcast...

June 13, 2007 | Cafe Hayek

Illegal Immigrants

Opponents of immigration keep mentioning the illegality of some immigrants as if that issue were decisive...

June 11, 2007 | Cafe Hayek

The future of work

In the latest EconTalk episode, I talk with Dan Pink about the ideas in his book, A Whole New Mind...

June 7, 2007 | NPR

A Quota System for Immigration Won't Work

According to the White House, the new immigration bill will "Help Keep The U.S. Competitive In The Global Economy By Establishing A New Merit-Based System For Immigration That Is Similar To Those Used By Other Countries..."

June 7, 2007 | Cafe Hayek

Bottle tops

I went to the Nationals baseball game last night and was surprised to discover that when you buy a bottle of Pepsi, the concession stand person removes the top before letting you walk away...

June 7, 2007 | Cafe Hayek

The Information Stream

I'm reading Everything is Miscellaneous by David Weinberger, scheduled for an upcoming podcast...

June 6, 2007 | Cafe Hayek

Imperfect markets, imperfect government

Brad DeLong has an interesting post at TPM Cafe (HT: Arnold Kling at EconLog)...

June 4, 2007 | Cafe Hayek

Where do prices come from?

Whenever I teach microeconomics I spend about 40% of the class on supply and demand...

June 4, 2007 | Library of Economics and Liberty

Where do prices come from?

My three sons, ages seven to twelve, suffer from a chronic condition I've heard described by economist John Baden as ironitis—the love of anything made of metal..

June 4, 2007 | Cafe Hayek

The Big Deal

In an earlier post, I challenged readers to discuss the trans-fat ban by Montgomery County...

June 4, 2007 | Cafe Hayek

Shlaes on the Depression

The latest episode of EconTalk is Amity Shlaes talking about her new book, The Forgotten Man: A New History of the Great Depression...

May 29, 2007 | Cafe Hayek

The Big Donor Show

The BBC reports on the outcry over a reality show where a terminally ill patient will decide who gets one of her kidneys...

May 29, 2007 | Cafe Hayek

Hanson on Health

This week's EconTalk podcast is with Robin Hanson...

May 21, 2007 | Cafe Hayek

Chutzpah

Paul Krugman ($) (HT: Jim Morse) blames the recent E. Coli outbreak on Milton Friedman...

May 21, 2007 | Cafe Hayek

Vernon (and Fred) Smith

This week's EconTalk is with my Nobel-prize winning colleague, Vernon Smith...

May 21, 2007 | Cafe Hayek

What's the big deal?

In an earlier post, I wrote about the ban on trans fats in Montgomery County, MD...

May 16, 2007 | Cafe Hayek

They care so much about me

They protect me from late taxis...

May 14, 2007 | Cafe Hayek

The use of knowledge

Here is Hayek on the essential problem of economics...

May 14, 2007 | Cafe Hayek

Unintended Consequences

Here is Glen Whitman writing about the anatomy of unintended consequences...

May 9, 2007 | Cafe Hayek

Monkeys and Typewriters

In Fooled by Randomness, Nassim Nicholas Taleb gives the example of a person who wants to hire someone to type a copy of Homer's Odyssey...

May 9, 2007 | Cafe Hayek

Wolf in the hen house

How have we gotten to the point of sufficient pandering and economic ignorance that the President appoints someone whose job it is to do for the manufacturing sector what lobbyists are being paid to do for other sectors?

May 7, 2007 | Cafe Hayek

In defense of self-interest and profits

John Allison, CEO of BB&T (a bank with $121 billion in assets) defends self-interest and profit in the latest episode of EconTalk...

May 7, 2007 | Cafe Hayek

Job Creation

Reader William Eilberg writes in response to this post...

May 4, 2007 | Cafe Hayek

The road to prosperity

The road to prosperity for a nation is to find ways to get more from less...

May 2, 2007 | Cafe Hayek

Satel's Kidney

Last year, Sally Satel received a kidney from Virginia Postrel...

May 1, 2007 | Cafe Hayek

The Power of Competition

In a number of recent posts, there have been comments questioning whether "the market will solve all problems," or whether competition works as advertised...

April 30, 2007 | Cafe Hayek

Black Swans

The latest EconTalk is a conversation with Nassim Nicholas Taleb about the ideas in his two books, Fooled by Randomness and The Black Swan...

April 27, 2007 | Cafe Hayek

Filthy coal

I love it when the bootlegger and the Baptist are the same guy...

April 26, 2007 | Cafe Hayek

Clutch hitting

It is very hard for sports fans, sports writers and even athletes do accurately assess which of their players perform well under pressure and which do not...

April 25, 2007 | Cafe Hayek

British Guns

The headline in the Washington Post story...

April 25, 2007 | Cafe Hayek

Layoffs and Profits

James Surowiecki is surprised that CEO's keep laying off workers even though such moves no longer seem to boost profits...

April 23, 2007 | Cafe Hayek

Rabushka on the flat tax

Here is Alvin Rabushka talking about the flat tax, a radical proposal for tax reform that would eliminate all deductions other than the personal exemptions and tax all income at a single rate...

April 19, 2007 | Cafe Hayek

The Natural Response

Headline from an article in today's Wall Street Journal...

April 16, 2007 | Cafe Hayek

Taxing the Rich

The top 1% paid 37% of the income taxes in the latest numbers from 2004...

April 17, 2007 | Cafe Hayek

Find the error

Robert Frank wants higher taxes on the rich to finance universal health care coverage. His argument...

April 11, 2007 | Cafe Hayek

How foreigners view the President

Here is how one newspaper described a recent speech by the Republican in the White House...

April 8, 2007 | Cafe Hayek

Global Warming Quiz

It's a one question quiz...

April 5, 2007 | Cafe Hayek

Buying Local

In the latest EconTalk podcast, Mike Munger and I discuss the division of labor...

April 2, 2007 | Cafe Hayek

The Division of Labor

Both Smith and Ricardo were deeply interested in specialization...

April 1, 2007 | Cafe Hayek

The Income Race

Paul Krugman foresees an increasing left-leaning electorate. The cause?

March 26, 2007 | Cafe Hayek

Kevin Kelly

The latest EconTalk is a conversation with Kevin Kelly, the founding editor of Wired magazine and the author, among other books, of Out of Control, a wonderful book on spontaneous order...

March 21, 2007 | Cafe Hayek

Great minds think alike

Here is Al Gore testifying before Congress on the virtues of small-scale energy production...

March 12, 2007 | Cafe Hayek

All global warming, all the time

This is not from The Onion, but from the Associated Press (HT: Drudge)...

February 21, 2007 | Cafe Hayek

Jousting on global warming

David Leonhardt at the New York Times (HT: Jim Morse) reports on a lively debate at Yale on global warming between Nicholas Stern and Yale economists including William Nordstrom and Robert Mendelsohn...

February 14, 2007 | Cafe Hayek

The future might not be like the past

Public discourse on global warming reached a new low recently with this assessment by Ellen Goodman...

February 13, 2007 | Cafe Hayek

The Economist's Friend

Segolene Royal, the Socialist Party's candidate for president of France has issued a major set of policy prescriptions...

February 13, 2007 | Cafe Hayek

Zing!

Check out this very cool site, Podzinger.com—it let's you search for a word in a podcast...

February 12, 2007 | Cafe Hayek

Democracies vs. Dicatatorships

Bruce Bueno de Mesquita has a very strange world view...

February 7, 2007 | Cafe Hayek

The political economy of global warming

The din to do something about global warming appears to be deafening...

February 2, 2007 | Cafe Hayek

The master at work

All of the episodes of the Milton Friedman's "Free to Choose" series are here. (HT: David Peterson)...

February 1, 2007 | Cafe Hayek

What do women want?

In this earlier post, I began a discussion of what are called Pigovian taxes, taxes to reduce activities where the harm caused by one's actions are imposed on others, what economists call negative externalities...

January 30, 2007 | Cafe Hayek

The Power of Innovation

Harold Evans, author of They Made America (a wonderful book), reacts in a letter to the editor ($) to the Atlantic Monthly's list of the 100 most influential Americans...

January 29, 2007 | Cafe Hayek

Podcast with Michael Lewis

This week's EconTalk is with Michael Lewis, author of Liar's Poker, Moneyball, and The Blind Side...

January 25, 2007 | Cafe Hayek

The Pot and the so-called Kettle

In this article at the New York Review of Books (HT: Arnold Kling at EconLog), Paul Krugman accuses Milton Friedman of intellectual dishonesty...

January 22, 2007 | Cafe Hayek

What is vs. what I wish it were

Andy Grove (who has helped transform the world and who I respect greatly) makes the following observation in a piece on energy policy in today's Wall Street Journal editorial page...

January 19, 2007 | Cafe Hayek

Taking advantage of people's need

Mexico is putting price controls on tortillas to protect the poor from increases in tortilla prices caused by rising prices of corn...

January 15, 2007 | Cafe Hayek

Choosing your parents

Walter Oi once told me that the two most important choices you make in life are your wife and your parents...

January 10, 2007 | Cafe Hayek

Steve and Al

Holman Jenkins finds it strange that Al Gore is the protector of Steve Jobs...

January 5, 2007 | Cafe Hayek

Uncreative Destruction

In a comment to my recent post on the empirical literature, Spencer writes...

January 4, 2007 | Cafe Hayek

George Will nails it

George Will on the minimum wage...

January 2, 2007 | Cafe Hayek

Economic Change

John Baden writes about how life has changed in Montana:

December 22, 2006 | Cafe Hayek

Lightning Strikes

Just found a remarkable book, Schott's Almanac 2007, written by the amazing Ben Schott, author of Schott's Original Miscellany...

December 20, 2006 | Cafe Hayek

Blind Side

Just finished (in half a day) Michael Lewis's Blind Side, the story of...lots of things—the hidden side of football, race and class in the South, an inner-city kid's journey, how market forces move things in unexpected ways...

December 19, 2006 | Cafe Hayek

Clipping the Hedge

In this Washington Post column, Sebastian Mallaby does a nice job explaining the economic contribution of hedge funds and other forms of arbitrage...

December 15, 2006 | Cafe Hayek

Demand Slopes Downward

Even in Washington, D.C., demands slopes downward...

December 18, 2006 | Cafe Hayek

Boettke on Katrina

This week's EconTalk is Pete Boettke talking about Katrina and the general issue of private voluntary responses to disaster compared to centralized responses...

December 13, 2006 | Cafe Hayek

High-Wage Protectionism

In an earlier post, I discussed Dean Baker's point that there are trade barriers that keep out foreign competition for high-skilled jobs...

December 11, 2006 | Cafe Hayek

Prescott on Macro

Nobel Laureate Edward Prescott takes an Hayekian approach to macro in this commentary at the WSJ:

December 11, 2006 | Cafe Hayek

Boudreaux on Law and Legislation and Liberty

The latest episode of EconTalk is this conversation with my co-host here at Cafe Hayek, Don Boudreaux, on the distinction between law and legislation...

December 5, 2006 | Cafe Hayek

Caplan on Discrimination

In the latest episode of EconTalk, Bryan Caplan and I talk about whether markets can reduce or eliminate discrimination...

December 5, 2006 | Cafe Hayek

The Power of Specialization

Two people marooned on a tropical island trying to collect fresh water and catch fish each day, can almost always do better by specializing—have one person do the fishing and the other do the water collecting...

November 30, 2006 | Cafe Hayek

Post-Election Wisdom

Wisdom from Arnold Kling in TCS:

November 16, 2006 | Cafe Hayek

Gains from Trade

This essay over at the Library of Economics and Liberty is part one of a two part series I'm writing on comparative advantage...

November 9, 2006 | Cafe Hayek

Why They Do What They Do

Why is Rumsfield gone?

November 8, 2006 | Cafe Hayek

Safety on the Cape

I wrote recently in the Boston Globe about the removal of the traffic rotary in front of the Sagamore Bridge leading to Cape Cod and argued that the hoped-for reductions in traffic were likely to be minimal...

November 3, 2006 | Cafe Hayek

Government Paternalism in Action

I was talking to some people last night about different approaches to government...

October 27, 2006 | Cafe Hayek

Are Professional Sports Competitive?

Michael Lewis's Moneyball tells the story of how the Oakland A's became successful…

October 23, 2006 | Cafe Hayek

A Natural Experiment

A beautiful natural experiment has just been set in motion…

October 3, 2006 | Cafe Hayek

Mungerrific

Here's an article by Mike Munger on why government doesn't do a good job dealing with new ideas and new products...

September 4, 2006 | EconTalk

Friedman on Capitalism and Freedom

Russ Roberts talks to Milton Friedman about the radical ideas he put forward almost 50 years ago in Capitalism and Freedom...

August 28, 2006 | EconTalk

Milton Friedman on Money

Russ Roberts talks with Milton Friedman about his research and views on inflation, the Federal Reserve, Alan Greenspan and Ben Bernanke, and what the future holds…

August 14, 2006 | EconTalk

The Political Economy of Power

Russ Roberts talks with Hoover Institution and NYU political scientist Bruce Bueno de Mesquita about his theory of political power--how dictators and democratically elected leaders respond to the political forces that keep them in office…