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For the casual observer, tourism may merely” be interpreted as an opportunistic, temporal break from everyday routines. As important as this may be for many, tourism is an important subject of research inquiry for liberals. Alongside arts, film, literature, music, and sports, tourism is a More Featured Articles Article Behavioral Economics: Method, Norms, and Policy In the neoclassical economic model, agents are assumed to act in pursuit of maximum utility—to know their preferences and some of the constraints they face—and to effectively satisfy their economic needs by means of market exchanges. In contrast, behavioral economists claim that individual judgments tend to be cognitively conditioned by biases such as overconfidence, lack .. MORE Article Israel Kirzner and the European Miracle” Professor Israel M. Kirzner, more than any other economist of the Austrian School (and among economists in general) since the second half of the 20th century, has revived our understanding of the systematic role of the entrepreneur as the driving force of the market as a process of discovery, error correction, and learning (Kirzner 1973). .. MORE Book Review The War That Never Ends A Book Review of Manufacturing Militarism: U.S. Government Propaganda in the War on Terror, by Christopher J. Coyne and Abigail R. Hall.1 It’s been over 20 years since the 9/11 attacks. Ever since those horrible attacks, the United States government has been waging a war on terror” both at home and abroad. The war on .. MORE Most Recent Business Economics Fresh Air By David Henderson Institutional Economics Hayek’s Critique of Unlimited Democracy By Pierre Lemieux Property Rights Why Scott Alexander is wrong By Scott Sumner Article John Locke: Mercantilist? By Amy Willis Article The Economics of Aging: Living Longer versus Living Better By Amy Willis Article Let Go of the Zero-Sum Fallacy and Enjoy Others’ Good Fortune By Art Carden Book Review Legal Safeguards Against Omnipotent Lawmakers By Pierre Lemieux Economic History How Many of Marx’s Interim Goals Have We Accomplished?” By David Henderson Trade Barriers The cost of economic nationalism By Scott Sumner Media Watch What Does Marginalized Group” Mean? By Pierre Lemieux EconTalk Allecontalk-podcast Kevin McKenna on Solzhenitsyn, the Soviet Union, and In the First Circle Russian Literature Professor Kevin McKenna of the University of Vermont talks with EconTalk host Russ Roberts about the life and times of Aleksandr Solzhenitsyn. This is the opening episode of the EconTalk Book Club for Solzhenitsyn’s masterpiece In the First Circle: The First Uncensored Edition. A subsequent episode to air in the next few weeks .. MORE econtalk-podcast Fredrik deBoer on the Cult of Smart Author and journalist Fredrik deBoer discusses his book The Cult of Smart with EconTalk host Russ Roberts. DeBoer argues that there is little that can be done to change the distribution of success in K-12 education. He argues that educational reforms like charter schools and No Child Left Behind are doomed to failure. At the .. MORE EconLog AllEconomic Growth The Decline of Growth Last summer I lamented the recent dearth of good news: In the last part of the 20th century, I greatly enjoyed reading news outlets such as The Economist, the Financial Times, the Wall Street Journal, and the Far Eastern Economic Review. These news sources focused on public policy issues, especially economic and political issues. Those .. MORE Free Markets The Latest James Bond plus Buchanan and Tullock Inspired by Graham McAleer’s review of the new James Bond, No Time to Die, I streamed the film from Amazon Prime Video. Ever since with my young sons decades ago I watched James Bond films, I have always liked them for the action and the guns, although I now find Jason Bourne more congenial and .. MORE LIBERTY CLASSICS SERIES Explore the lasting legacies and continued relevance of our classic titles. Browse Articles Book Titles All BooksF. A. Hayek and the Rebirth of Classical Liberalism” By John N. Gray In the recent revival of public and scholarly interest in the values of limited government and the market order, no one has been more centrally significant than Friedrich A. Hayek. His works have figured as a constant point of reference in the discussions both of the libertarian and conservative theories of the market economy; they .. MORE Life of Adam Smith By John Rae THE fullest account we possess of the life of Adam Smith is still the memoir which Dugald Stewart read to the Royal Society of Edinburgh on two evenings of the winter of 1793, and which he subsequently published as a separate work, with many additional illustrative notes, in 1810. Later biographers have made few, if .. MORE Book Reviews and Suggested Readings Can We Have Welfare Without the Threat of Violence? By Max Borders Most grownups don’t believe in magic anymore. Sometimes, though, it can be helpful to imagine it. A powerful ring turns the wearer invisible in J. R. R. Tolkien’s The Lord of the Rings. That power means the wearer can act with relative impunity. (For that device, Tolkien had Plato to thank.) We can also imagine .. MORE The Boys Under the Bus By Arnold Kling … the problems of boys and men are structural in nature… the educational system is structured in ways that put them at a disadvantage. Men are struggling in the labor market because of an economic shift away from traditionally male jobs. And fathers are dislocated because the cultural role of family provider has been hollowed .. MORE Conversations VIDEO A Conversation with Ronald H. Coase Nobel laureate Ronald H. Coase (1910-2013) was recorded in 2001 in an extended video now available to the public. Coase’s articles, The Problem of Social Cost” and The Nature of the Firm” are among the most important and most often cited works in the whole of economic literature. Coase recounts how he tried to encourage .. MORE VIDEO A Conversation with Armen A. Alchian Recognized as one of the most influential voices in the areas of market structure, the theory of the firm, law and economics, resource unemployment, and monetary theory and policy, in this 2001 interview, Armen Alchian (1914-2013) outlines the UCLA tradition” of economics which he founded and explores the many unanticipated consequences of self-seeking individual behavior. .. MORE ECONLIB SERIES Intellectual Portrait Series Conversations with some of the most original thinkers of our time Browse Videos Guides Reading Lists by Topic The Reading Lists by Topic pages contain some suggested readings organized by topic, including materials available on Econlib. Brief reviews or descriptions are included for many items. Select a Topic 1800-1900: Economics Classics, including Neoclassical Thought Austrian Economics Business Cycles Capital and Investment Capitalism and Socialism Classics in Money and Banking Comparative Advantage Development and Investment Economics and Ethics Economics of Education Economics of Health Environmental Economics and Natural Resources Free Trade General Economic...