Browsing: Econlib

People respond to incentives. With some generous interpretation, this simple sentence summarizes the bulk of what you’ll learn in any good undergraduate economics course. The challenge,…

It was a fact universally acknowledged that a young man or woman in 1800s Lancashire could find gainful employment as a weaving apprentice. In the pre-factory…

Sam Enright works on innovation policy at Progress Ireland, an independent policy think tank in Dublin, and runs a publication called The Fitzwilliam. Most relevant to…

One of my brothers recently joked that he would love to meet the person who first pitched gift cards. Who ever thought that consumers would agree…

There are at least two meanings for “dominance” in relation to monetary and fiscal policy. The first one, proposed by Milton Friedman in 1968, is that…

When astronaut Christina Koch, the first woman to fly around the moon, reported an issue from space that could have been copy-pasted from any IT helpdesk…

We’re joining our friends at Liberty Matters in their celebration of the 250th anniversary of the publication of An Inquiry into the Nature and Causes of…

There were two types of slaves in Scotland during Adam Smith’s lifetime. The first were chattel slaves of African descent. This is what most people envision…

We’re joining our friends at Liberty Matters in their celebration of the 250th anniversary of the publication of An Inquiry into the Nature and Causes of…

Inflation began rising in 2021 due to pandemic-related supply chain disruptions and reopening dynamics. The Russia-Ukraine war that started in February 2022 intensified these pressures through…