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Steven Horwitz

Distinguished Fellow

Member of: FEE Faculty Network FEE Staff

Steven Horwitz is the Charles A. Dana Professor of Economics at St. Lawrence University and the author of Hayek’s Modern Family: Classical Liberalism and the Evolution of Social Institutions. He is spending the 2016-17 academic year as a Visiting Scholar at the John H. Schnatter Institute for Entrepreneurship and Free Enterprise at Ball State University.

He is a member of the FEE Faculty Network.

Steven Horwitz's Articles

A Rising Stock Market Does Not Signal Economic Health

Firms can still be highly profitable in a world of cronyism, but those profits reflect their ability to curry favor with those in power, not their ability to create value for consumers.

- 10:30 AM

Economic Localism Is No Better than Economic Nationalism

Certainly most of the progressive proponents of shopping local do not imagine themselves to be guilty of the same prejudices as Steve Bannon and other partisans of Trump’s economic nationalism, but the underlying logic is the same. The best path toward enriching everyone is allowing everyone to trade with everyone else.


- November 27, 2016

The Double Thank You of the Market

If we want the market order to survive, we will have to continue to treat it both in theory and practice as a realm of moral and virtuous behavior. Reserving the Double Thank You for the market is one way to do so.

- November 10, 2016

It’s Not Just Keynesians vs. Austrians

They Keynes-Hayek rap videos are fantastic! But they are just a starting point, and come nowhere near capturing the complexity of the modern debates and its many perspectives on economics and policy. 

- October 24, 2016

Allergic to “Capitalism”? Call It “Trade-Tested Permissionless Innovation”

Surveys show that millennials don't like the term capitalism. So if we don’t call it capitalism, what do we call it? The results are not elegant but let's try to be accurate. 

- October 22, 2016

There is No Such Thing as Trickle-Down Economics

No market advocate ever used this phrase. That's for a reason. It's not what we favor. 

- September 24, 2016

Dying Celebrities are a Sign of Thriving Economies

Famous people are dying at an ever greater rate. This is because there are more famous people than ever. And why is that?

- September 21, 2016

We Didn't Humanize Markets, Markets Humanized Us

The real credit for the long-run decline in child labor and hours worked belongs to competitive capitalism, which enabled the growth of capital that increased labor productivity and enriched both capitalists and workers.

- September 08, 2016

Why Isn't There Chaos When Traffic Lights Malfunction?

People adapt to the new situation, staying safe while caring for the safety of others. It's order without top-down authority. 

- August 29, 2016

Progress Does Not Depend on Geniuses

Larger populations create progress not because they have more Einsteins and Fords, but because they have more John Smiths and Jane Does of every race or nationality or skill level or set of experiences imaginable.

- August 22, 2016

Make Babies, and Don’t Let the Greens Guilt Trip You about It

The best way to save the planet is not to have fewer kids, but to have as many as you can afford.

- August 20, 2016

The Humble Case for Freedom

The case for freedom is what we learn from each other, not what each of us knows.


- August 08, 2016

The Human Achievement that is Las Vegas

That Las Vegas exists is tribute to two human achievements: the wealth that market capitalism has made possible and the toleration that is at the core of the liberal values that underlie markets.

- July 20, 2016

Yes, We Still Make Stuff, and It Wouldn’t Matter if We Didn’t

One of the perennial complaints about the US economy is that we don’t “make stuff” anymore. No so. 

- July 01, 2016

Skype Has Improved Your Life Beyond Measure

Thanks to communication technology, the poorest of the developed world live longer, healthier lives in more comfort than did most kings of old.

- June 19, 2016

Was the Fed Created by a Conspiracy?

The problem with the Fed is not that it was the product of conspiracy, but that it was the product of politics.

- June 14, 2016

Uber Is Progress, So Why Aren’t Progressives On Board?

Patronizing Uber supports entrepreneurial individuals rather than cab companies

- June 13, 2016

Capitalism Is Good for the Poor

Nothing has done more to lift humanity out of poverty than the market economy.

- June 09, 2016

12 Articles Every Aspiring Economist Should Read

Here are 12 important articles to help you understand sound economics, ideally before you head off to grad school in economics.

- May 26, 2016

Markets Are the Voice of the People

Does anyone seriously believe that government agencies better represent and respond to the “voices of the people” than markets do?

- May 12, 2016

Capitalism Created Modern Motherhood

For most of human history, the idea of being a full-time mom — let alone dad — was unimaginable.


- May 09, 2016

Is the Austrian Theory Enough?

Friends of Austrian business cycle theory do it no favors when they argue that it fully explains the Great Depression or anything else.

- April 27, 2016

Who’s in Charge, Capitalists or Consumers?

Entrepreneurs only succeed when they accurately predict what consumers will want.

- April 13, 2016

When Socialism Works

Small-scale socialism is the norm, even within capitalist societies, but on a large scale, it produces chaos and misery.

- March 31, 2016

Trump and Sanders Are Both Conservatives

Donald Trump and Bernie Sanders are both conservatives from the perspective of classical liberalism: they fear spontaneous order and are willing to use force to conserve obsolete institutions.

- March 02, 2016

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