Freeman

December 2006

Volume 56, 2006

FEATURES

Economists Against Economics

NOVEMBER 03, 2006 by SHELDON RICHMAN

Five economists who either won the Nobel Prize in economics or who served as president of the American Economic Association -- and three who did both -- recently joined over 600 other economists in urging the federal government to increase the minimum wage. The signatures were gathered by the union-backed Economic Policy Institute (EPI), which unsurprisingly supports substantial government intervention in the economy.

I guess this is supposed to make us think more of the minimum wage. Instead, it makes me think less of the Nobel Prize in economics and the American Economic Association.

Book Reviews - December 2006

DECEMBER 01, 2006 by GEORGE C. LEEF

  • The Ethics of the Market
    by John Meadowcroft Reviewed by Richard M. Ebeling
  • Peddling Panaceas: Popular Economists _in the New Deal Era
    by Gary Dean Best Reviewed by Burton Folsom, Jr
  • Philosophers of Capitalism: _Menger, Mises, Rand, and Beyond
    by Edward W. Younkins Reviewed by Aeon J. Skoble
  • Winning the Race: Beyond the Crisis in _Black America
    by John McWhorter Reviewed by George C. Leef

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December 2014

Unfortunately, educating people about phenomena that are counterintuitive, not-so-easy to remember, and suggest our individual lack of human control (for starters) can seem like an uphill battle in the war of ideas. So we sally forth into a kind of wilderness, an economic fairyland. We are myth busters in a world where people crave myths more than reality. Why do they so readily embrace untruth? Primarily because the immediate costs of doing so are so low and the psychic benefits are so high.
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