David R. Henderson

Research Fellow

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

In the News

Emmanuel Saez's Medal

by David R. Hendersonwith Gary S. Beckervia EconLog
Saturday, April 25, 2009

Berkeley economist Emmanual Saez has won the 2009 John Bates Clark Medal, awarded bi-annually by the American Economic Association since 1947 to "that American economist under the age of forty who is judged to have made the most significant contribution to economic thought and knowledge."...

Deregulation caused this crisis? In many ways, the markets are more regulated than ever—to our detriment. By David R. Henderson.

Against Regulations

by David R. Hendersonvia Hoover Digest
Monday, April 20, 2009

Deregulation caused this crisis? In many ways, the markets are more regulated than ever—to our detriment. By David R. Henderson.

Analysis and Commentary

Did Greenspan Cause The Housing Bubble?

by David R. Hendersonvia Forbes
Friday, April 17, 2009

Critics across the political spectrum are having a field day blaming the current economic crisis on former Federal Reserve Chairman Alan Greenspan, who they allege carried out an excessively expansionary monetary policy following the recession of 2001...

Analysis and Commentary

Did the Fed Cause the Housing Bubble?

by David R. Henderson, Todd Zywickiwith John B. Taylorvia Wall Street Journal
Friday, March 27, 2009

It's become conventional wisdom that Alan Greenspan's Federal Reserve was responsible for the housing crisis...

In the News

Taylor Rules

by David R. Hendersonwith John B. Taylorvia EconLog
Wednesday, March 25, 2009

My book review of John Taylor's latest book, Getting Off Track, appeared on Forbes.com yesterday.

Analysis and Commentary

Taylor Rules

by David R. Hendersonwith John B. Taylorvia Forbes
Tuesday, March 24, 2009

When Henry Paulson and Ben Bernanke proposed the $700 billion bailout last September, many mainstream economists who spoke out lined up in favor, although about as many economists were critical...

Analysis and Commentary

Will Obama And Gordon Brown Cook Up A Tax Cartel?

by David R. Hendersonvia Forbes
Monday, March 2, 2009

When President Obama and British Prime Minister Gordon Brown meet tomorrow, one of the main items on the agenda will surely be the economy and economic policy...

Analysis and Commentary

The FDA's Big Bad Wolfe

by David R. Henderson, Charles L. Hoopervia Forbes
Thursday, January 22, 2009

Since Barack Obama was elected, there has been much hopeful talk about addressing this country's health care problems...

Analysis and Commentary

Will The Real Christina Romer Please Stand Up?

by David R. Hendersonvia Forbes
Wednesday, January 7, 2009

Most people in the incoming Obama administration--and, indeed, most people-- believe that the Keynesian model of the economy is basically correct...

Analysis and Commentary

Larry Summers' Judgment

by David R. Hendersonvia Forbes
Monday, December 1, 2008

President-elect Obama has appointed Lawrence Summers, former President Clinton's last Treasury secretary, to head his National Economic Council...