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

It Doesn't Pay Off

by David R. Hendersonvia Hoover Digest
Monday, April 21, 2014

Most minimum-wage workers aren’t sole breadwinners and don’t live in poor households. That’s why minimum wages do a lot less for the truly poor than you might suppose.

Analysis and Commentary

My San Francisco Fed Talk

by David R. Hendersonvia EconLog
Sunday, April 13, 2014
Analysis and Commentary

Maximizing Short-Run Profits

by David R. Hendersonvia EconLog
Thursday, April 10, 2014
Analysis and Commentary

Please Advocate Your Special Interest Rather than Sticking up for Taxpayers

by David R. Hendersonvia EconLog
Monday, March 31, 2014

In response to something I wrote in January, I received a letter last week, postmarked January 30. Well played, U.S. Postal Service. It's like many I've received over the years when the writer doesn't like an article or blog post...

Analysis and Commentary

Lessons from "The Lives of Others"

by David R. Hendersonvia EconLog
Sunday, March 30, 2014
Analysis and Commentary

Pillars of Economic Wisdom in Action

by David R. Hendersonvia EconLog
Wednesday, March 26, 2014

I wrote earlier about a special readings course I put together for people who had done well in my Cost/Benefit course but wanted more economics than they get in our MBA curriculum. As a kind of celebration, a number of...

Analysis and Commentary

Michael Cannon's Cannon

by David R. Hendersonvia EconLog
Tuesday, March 25, 2014

Cato Institute's health economist Michael Cannon is the lead economist in a legal case that takes on the IRS. The Affordable Care Act (ACA), aka Obamacare, grants tax credits to low-income people who buy health insurance in state-run exchanges. There...

Analysis and Commentary

Endogeneity and the Drug War

by David R. Hendersonvia EconLog
Sunday, March 23, 2014

Why the things that happened during the drug war are not a good argument FOR the drug war. And the things that happened BECAUSE of the drug war are a fortiori not an argument for the drug war. Last fall,...

Analysis and Commentary

David Friedman on Bill Nordhaus; Timothy Taylor on Bad Academic Writing

by David R. Hendersonvia EconLog
Wednesday, March 19, 2014

David Friedman has lately been picking apart a piece written by Yale University's Bill Nordhaus in the New York Review of Books two years ago. I did so in my class on Energy Economics two years ago, drawing on this...

Analysis and Commentary

Milton and Rose Friedman on Inequality

by David R. Hendersonvia EconLog
Sunday, March 16, 2014

Last week my group of students who work their way through readings had our last formal meeting. Good news: they decided over drinks afterwards that they want to continue the meetings informally next quarter and one of them suggested calling...

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