Economics In One Page

“What makes it [economics] most fascinating is that its fundamental principles are so simple that they can be written on one page, that anyone can understand them, and yet very few do.” Nobel Laureate Milton Friedman made that profound statement in the last line of his autobiography in “Lives of Continue Reading →

What We Can and Can’t Control

Some things we can control, others we can’t. It’s important to know the difference. Everything happens for a reason, and nothing happens without a cause or, more likely, multiple interacting causes. The work of science is to get an accurate understanding of those causes so that we can better control Continue Reading →

When to Think With Your Heart

An interesting dilemma underlies much of modern populist thought. On one hand, it is important that we are seen as realistic and intellectually grounded. On the other, we want to be perceived as compassionate and good. The realistic, analytical mode is thought of as thinking with your brain, while the Continue Reading →

The Important Things of Economics

Economists have some important things to say. That doesn’t mean that everything that they say is true. The economics profession has become too-closely tied to politics, and economic recommendations to politicians too often have the smell of ideology wrapped in statistics and complex mathematical models. Practitioners often disagree, in fact Continue Reading →