In one of my recent blog posts, I discussed the work of NYU economist William Easterly. In particular, I noted how his work on the pitfalls of modern economic development planning bear a striking resemblance to the work and ideas of F. A. Hayek and James M. Buchanan. Easterly makes a distinction between “planners”...
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A few days ago, it was revealed that in 1995 Donald Trump declared a $916 million loss on his tax returns. According to The New York Times, Trump’s losses under the U.S. tax code would have allowed him to write off or avoid paying any federal income tax for a period of 18 years....
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I normally walk my dogs twice each day along the beach, which gives me an opportunity to ponder, among other things, issues in constitutional political economy. My late friend James Buchanan, one of the deepest thinkers in political economy during the past century, led the development of this field of study in his time....
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In 2010, California voters approved a “top-two” primary system for congressional and statewide elected positions where primary voters choose among all candidates in all parties for each position. The top two vote getters in the primary, regardless of party affiliation, move on to the general election to face each other. The argument at the...
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“Why do we have a government at all?” Occasionally, I have the chance to ask students this question. After examining the unintended consequences of government policies and discussing the economics of politics (i.e. public choice economics in the tradition of James Buchanan and Gordon Tullock), the rosy picture of government from their high school civics...
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On April 7, Senator Rand Paul declared he is officially running for President in 2016. Since this time, there has been a lot of buzz surrounding his candidacy. In particular, many are pointing to Rand as a champion of liberty. I recently heard a talk in which the speaker was encouraged by Paul and several...
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I recently had the chance to participate in an online seminar for high school debate team students. In preparing for their upcoming competition, they were interested in speaking with an economist about U.S. policy in the Middle East. An online lecture like this was a new experience for me—a very good one. First, I’m...
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Gordon Tullock, who died on Monday at the age of 92, was along with his longtime colleague James Buchanan, the founder of the modern field of public choice, which during the past fifty years has become a well-established subfield of economics and of political science and has also had an influence on other disciplines....
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Gordon Tullock, one of the founders of the sub-discipline of public choice, passed away November 3, at the age of 92. Public choice uses the methods of economics to analyze political decision-making, and Tullock’s book, co-authored with James Buchanan, The Calculus of Consent, was a pioneering work in public choice. It is the best-known...
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Class is back in session for most colleges and universities across the country. Last year, I had the privilege of teaching college economics courses for the first time. We discussed many issues, from the economics of War on Drugs and the War on Terror, to the minimum wage, to why airlines offer discounts to...
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