The scope and number of regulations continues to grow, but proof that problems are being solved remains elusive. Several reform efforts are focusing on ways to improve economic analysis so that agencies can make better decisions about when and how to use regulation for problem-solving. New research indicates several reforms that could have a positive impact.
Peter Boettke of George Mason University talks with EconTalk host Russ Roberts about his book, Living Economics. Boettke argues for embracing the tradition of Smith and Hayek in both teaching and research, arguing that economics took a wrong turn when it began to look more like a branch of applied mathematics. He sees spontaneous order as the central principle for understanding and teaching economics. The conversation also includes a brief homage to James Buchanan who passed away shortly before this interview was recorded.
Economist Scott Beaulier tackles a number of topics including the differences between Medicare and Medicaid, the perverse incentives states face with regards to health care, and how Medicaid will affect state and federal budgets going forward.
Earlier this month, Republican presidential candidate Mitt Romney said, "Corporations are a lot like you and me." Beltway pundits are calling it a campaign gaffe. But what was Romney actually getting at? Are corporations people? Steve Horwitz and other discuss.
With the current turmoil in the Middle East and shifting political tides, it is difficult to predict the changes that will result from today's events. To discuss the current situation, the Mercatus Center and the George Mason University Economics Society brought together a panel of academics and development experts to discuss the political and economic change that the Middle East is experiencing.
Mercatus PhD Fellow Vipin Veetil, along with Akshaya Vijayalakshmi and Srikanth Viswanathan, address Amartya Sen's criticism of cash-transfer programs such as education vouchers in the Wall Street Journal.
In 1964 James Buchanan famously asked “What Should Economists Do?” He argued that economists should focus their intellectual attention on exchange and the institutions within which exchange takes place. This paper reflects on Buchanan’s message and looks at the development of that argument, and its implications in the wake of post-socialist political economy on the one hand, and the post-financial crisis of 2008 on the other.