David R. Henderson

Research Fellow
Biography: 

David R. Henderson is a research fellow with the Hoover Institution. He is also a professor of economics at the Naval Postgraduate School in Monterey, California.

Henderson's writing focuses on public policy. His specialty is in making economic issues and analyses clear and interesting to general audiences. Two themes emerge from his writing: (1) that the unintended consequences of government regulation and spending are usually worse than the problems they are supposed to solve and (2) that freedom and free markets work to solve people's problems.

David Henderson is the editor of The Concise Encyclopedia of Economics (Warner Books, 2007), a book that communicates to a general audience what and how economists think. The Wall Street Journal commented, "His brainchild is a tribute to the power of the short, declarative sentence." The encyclopedia went through three printings and was translated into Spanish and Portuguese. It is now online at the Library of Economics and Liberty. He coauthored Making Great Decisions in Business and Life (2006). Henderson's book, The Joy of Freedom: An Economist's Odyssey (Financial Times Prentice Hall, 2001), has been translated into Russian. Henderson also writes frequently for the Wall Street Journal and Fortune and, from 1997 to 2000, was a monthly columnist with Red Herring, an information technology magazine. He currently serves as an adviser to LifeSharers, a nonprofit network of organ and tissue donors.

Henderson has been on the faculty of the Naval Postgraduate School since 1984 and a research fellow with Hoover since 1990. He was the John M. Olin Visiting Professor with the Center for the Study of American Business at Washington University in St. Louis in 1994; a senior economist for energy and health policy with the President's Council of Economic Advisers from 1982 to 1984; a visiting professor at the University of Santa Clara from 1980 to 1981; a senior policy analyst with the Cato Institute from 1979 to 1980; and an assistant professor at the University of Rochester's Graduate School of Management from 1975 to 1979.

In 1997, he received the Rear Admiral John Jay Schieffelin Award for excellence in teaching from the Naval Postgraduate School. In 1984, he won the Mencken Award for best investigative journalism article for his Fortune article "The Myth of MITI."

Henderson has written for the New York Times, Barron's, Fortune, the Los Angeles Times, the Chicago Tribune, Public Interest, the Christian Science Monitor, National Review, the New York Daily News, the Dallas Morning News, and Reason. He has also written scholarly articles for the Journal of Policy Analysis and Management, the Journal of Monetary Economics, Cato Journal, Regulation, Contemporary Policy Issues, and Energy Journal.

Henderson has spoken before a wide variety of audiences, including the American Farm Bureau Federation, the Chicago Council on Foreign Relations, the St. Louis Discussion Club, the Commonwealth Club of California (National Defense and Business Economics Section), the Cato Institute, and the Heritage Foundation. He has also spoken to economists and general audiences at many universities around the country, including Carnegie-Mellon, Brown, the University of California, Berkeley, the University of California, Davis, the University of Rochester, the University of Chicago, Harvard University's John F. Kennedy School, and the Hoover Institution. He has given papers at annual conferences held by the American Economics Association, the Western Economics Association, and the Association of Public Policy and Management. He has testified before the House Ways and Means Committee, the Senate Armed Services Committee, and the Senate Committee on Labor and Human Resources. He has also appeared on the O'Reilly Factor (Fox News), C-SPAN, CNN, the Newshour with Jim Lehrer, CNBC Squawk Box, MSNBC, BBC, CBC, the Fox News Channel, RT, and regional talk shows.

Born and raised in Canada, Henderson earned his bachelor of science degree in mathematics from the University of Winnipeg in 1970 and his Ph.D. in economics from the University of California, Los Angeles, in 1976.

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Recent Commentary

Analysis and Commentary

Why Predatory Pricing Is Highly Unlikely

by David R. Hendersonvia EconLog
Monday, May 1, 2017

A widely held belief is that large firms with some market power can use their profits generated in particular markets to cut prices below costs in another market and drive out their competitors. Then, according to this belief, once the competitors are driven out, the large firms can raise their prices in that market and collect higher-than-competitive prices.

Analysis and Commentary

Pope Francis's Distorted Vision

by David R. Hendersonvia EconLog
Saturday, April 29, 2017

"I cannot fail to speak of the grave risks associated with the invasion of the positions of libertarian individualism at high strata of culture and in school and university education," the Pope said in an message sent to members of the Pontifical Academy of Social Sciences meeting in the Vatican and subsequently shared with Breitbart News.

Analysis and Commentary

Keep Your Eye On The Prize

by David R. Hendersonvia EconLog
Wednesday, April 26, 2017

In a comment on a recent blog post I wrote on United Airlines, The Original CC highlighted one of my sentences and wrote: You seem to be the master of deescalation. Can you explain this interaction and what you said in a little more detail? We could probably all learn from it.

Analysis and Commentary

Reply To Adam Ozimek

by David R. Hendersonvia EconLog
Tuesday, April 25, 2017

Adam Ozimek has written an article on Forbes.com titled "Libertarianism Needs To Become More Realistic." HT to Tyler Cowen. Although authors rarely get to choose their articles' titles, the title does seem consistent with his message. Ozimek is friendly to libertarianism, and so his suggestions should be seen as friendly amendments to the strategies pursued by some libertarians.

Analysis and Commentary

Score One For United Airlines

by David R. Hendersonvia EconLog
Monday, April 24, 2017

With all the negative publicity United Airlines has had lately, I want to share a positive. Yesterday morning, I was flying from Washington Dulles to LAX, with a short time for my connecting flight from LAX to Monterey. We boarded late because one of the runways at LAX was closed for construction and the LAX air traffic controllers were rationing landings. 

Analysis and Commentary

Crash Pad

by David R. Hendersonvia EconLog
Saturday, April 22, 2017

On a United flight from San Fran to Washington Dulles yesterday, I found the flight attendants particularly professional and courteous. When I went to the back to stretch my legs, I did what I often do: asked a flight attendant where she was based. This particular one answered that she's based in San Fran but lives in Miami.

Analysis and Commentary

Two Cheers for Fox News Channel

by David R. Hendersonvia EconLog
Thursday, April 20, 2017

Fox News Channel's decision to fire Bill O'Reilly caused me to reread a piece I wrote about Fox back in 2004. Were I to grade Fox, now, independent of O'Reilly, I would give them 1.5 cheers.

Analysis and Commentary

More Highlights From Hayek

by David R. Hendersonvia EconLog
Wednesday, April 19, 2017

As I promised, here are some more highlights from Friedrich Hayek's The Constitution of Liberty.

Analysis and Commentary

Hayek On Case For Freedom

by David R. Hendersonvia EconLog
Tuesday, April 18, 2017

As mentioned in my previous post, I had forgotten how good Hayek's Chapter 2 of The Constitution of Liberty is. A large part of his case for freedom is based on ignorance and uncertainty. He makes the case well, but, in the following two passages, he badly overstates.

Analysis and Commentary

Friedrich Hayek And Abba Lerner On General Rules

by David R. Hendersonvia EconLog
Monday, April 17, 2017

At a conference at the Political Economy Research Center in Bozeman, Montana 10 days ago, one of the readings we discussed was "The Creative Powers of a Free Civilization," Chapter 2 of Friedrich Hayek's The Constitution of Liberty. I hadn't reread the book in about 45 years and I had forgotten how good it was. 

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