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I highly recommend Lauren Rivera’s “Ivies, Extracurriculars, and Exclusion” (Research in Social Stratification and Mobility 2011). Not only is the piece careful, edifying, and interesting; it’s even emotionally affecting. Learning more about elite hiring actually replaced my apathy toward elite firms with sour grapes: “I never wanted to work for you anyway!” Rivera’s sample: I examined hiring pr
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Essays, Moral, Political, and Literary By David Hume DAVID HUME’S greatness was recognized in his own time, as it is today, but the writings that made Hume famous are not, by and large, the same ones that support his reputation now. Leaving aside his Enquiries, which were widely read then as now, Hume is known today chiefly through his Treatise of Human Nature and his Dialogues Concerning Natural
Frederic Bastiat (1801-1850) was a French economist, statesman, and author. He led the free-trade movement in France from its inception in 1840 until his untimely death in 1850. The first 45 years of his life were spent in preparation for five tremendously productive years writing in favor of freedom. Bastiat was the founder of the weekly newspaper, Le Libre Échange, a contributor to numerous peri
Few economic indicators are of more concern to Americans than unemployment statistics. Reports that unemployment rates are dropping make us happy; reports to the contrary make us anxious. But just what do unemployment figures tell us? Are they reliable measures? What influences joblessness? Each month, the federal government’s Bureau of Labor Statistics randomly surveys sixty thousand individuals
New Keynesian economics is the school of thought in modern macroeconomics that evolved from the ideas of John Maynard Keynes. Keynes wrote The General Theory of Employment, Interest, and Money in the 1930s, and his influence among academics and policymakers increased through the 1960s. In the 1970s, however, new classical economists such as Robert Lucas, Thomas J. Sargent, and Robert Barro called
The text has been altered as little as possible from the original edition ( Risk, Uncertainty, and Profit, Frank H. Knight, Ph.D., Associate Professor of Economics in the State University of Iowa; Boston and New York, Houghton Mifflin Co., The Riverside Press, 1921).A few corrections of obvious typos were made for this website edition. However, because the original edition was so internally consis
Chicago’s population is down about 25% from its peak back in 1950. That statement might conjure up images of empty blocks of homes, as you see in Detroit. In fact, Chicago remains quite crowded. I cannot find the article, but I recall reading that Chicago now has more households than ever before. Average household size ... Related Post The Actual “Great Replacement” By Scott Sumner | May 16 2024 S
Featured Topic Regulation Robert Litan Businesses complain about regulation incessantly, but many citizens, consumer advocates, and nongovernmental organizations (NGOs) think it absolutely necessary to protect the public interest. What is regulation? Why do we have it? How has it changed? This article briefly provides some answers, concentrating on experience with regulation in the United States.
"The Use of Knowledge in Society" By Friedrich A. Hayek What is the problem we wish to solve when we try to construct a rational economic order? On certain familiar assumptions the answer is simple enough. If we possess all the relevant information, if we can start out from a given system of preferences, and if we command complete knowledge of available means, the problem which remains is purely o
bank regulation, Mike Munger, mobile operating systems, perfect competition, transaction costs More Firms Doesn’t (Necessarily) Mean Better Competition Kevin Corcoran | Jun 10 2024 Mike Munger recently wrote about an elementary misunderstanding of economic competition many legislators and regulators seem to harbor – the idea that improving competition means ensuring there are more firms rather tha
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