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

American Flag
Analysis and Commentary

John Goodman on Why We Have Political Stability

by David R. Hendersonvia EconLog
Monday, October 27, 2014

One person who does understand economics and who frequently writes approvingly of Roosevelt's approach to politics is Paul Krugman. In The New York Times last Friday he had this to say:

Analysis and Commentary

David Henderson on the Minimum Wage

by David R. Hendersonvia Cafe Hayek
Monday, October 27, 2014

In this video for Prager University, EconLog’s David Henderson does a splendid job explaining that minimum-wage legislation harms the very people its well-meaning proponents mean to help.

Economics Concept
Analysis and Commentary

IMF's Loungani: Demand for Labor is Downward-Sloping

by David R. Hendersonvia EconLog
Thursday, October 23, 2014

I was on the road from Sunday a.m. to late last night and thus my sparser than usual blogging. I taught classes in Patuxent River, MD on Monday, Norfolk, VA on Tuesday, and Arlington, VA on Wednesday, with lots of driving in between and a flight home last night. I'm one tired puppy.

Economics Abstract
Analysis and Commentary

Progress on OTC Contraceptives

by David R. Hendersonvia EconLog
Tuesday, October 21, 2014

In February 2012, I posted a proposal that the federal government allow contraceptives to be sold over the counter. I wrote:

Analysis and Commentary

Jean Tirole on Scaling Back Government

by David R. Hendersonvia EconLog
Tuesday, October 14, 2014

Around the same time, Canada cut government expenditure by 18.9% without social turmoil - and without greatly reducing health, justice, or housing programmes. They did this while maintaining tax levies, so the result was a reduced public deficit and falling public debt. Spending that could not be clearly justified in terms of the resulting service to the public was pruned.

Analysis and Commentary

The Economic Nuances of the Latest Nobel Laureate

by David R. Hendersonvia Wall Street Journal
Monday, October 13, 2014

Yes, Jean Tirole is interested in firms that dominate markets. He’s also skeptical about interfering regulators.

Analysis and Commentary

Maskin's Failure

by David R. Hendersonvia EconLog
Thursday, October 9, 2014

This statement is by Eric Maskin, a past winner of the Nobel Prize in economics. He made it at a recent conference at Mercatus. I'm assuming that the author of the article in which this statement is quoted, Tim Cavanaugh, quoted him correctly.

Analysis and Commentary

Can a Principled Person "Rise Above Principle?"

by David R. Hendersonvia EconLog
Sunday, October 5, 2014

In a recent critique of Richard Epstein's call for another U.S. military intervention in the Middle East, I wrote the following at the end of my piece:

Analysis and Commentary

Ron McKinnon, RIP

by David R. Hendersonvia EconLog
Thursday, October 2, 2014

Ron McKinnon, the Stanford University economist who specialized in international finance, has died. According to his colleague John Shoven, Ron "fell on an escalator at SFO about twelve days ago and was badly injured."

Analysis and Commentary

Time Inconsistency in Tax Policy: A Colombian Case Study

by David R. Hendersonvia EconLog
Tuesday, September 30, 2014

This discussion is related to the time inconsistency of optimal policy, which occurs when the government cannot implement an optimal tax policy because the stated policy is inconsistent with the government's incentives over time. Consider a proposal made by the government of Colombia in 2002.

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