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Trust isn't just good manners — it drives growth and powers cooperation. But the wrong incentives destroy it overnight. Here's what economic research says — and how to fight back.
I spoke on a panel at AEI with Nobelist Al Roth about his new book, Moral Economics, which covers “repugnant markets,” from prostitution to surrogacy to kidney exchange. A fun book...
Tyler Cowen’s latest work, The Marginal Revolution: Rise and Decline, and the Pending AI Revolution, is a surprisingly critical look at one of the foundational ideas of modern econ...
By Darlington chilubaChiluba Economic decisions are often assumed to emerge from data, models, and rational forecasts. Yet history repeatedly shows that global markets are profound...
Below, Alex Mayyasi shares five key insights from his new book, Planet Money: A Guide to the Economic Forces That Shape Your Life. Mayyasi is a journalist who writes about busin...
“There are two things you are better off not watching in the making: sausages and econometric estimates. This is a sad and decidedly unscientific state of affairs we find ourselves...
There is an informal gift economy that folk psychologists have trouble understanding and navigating. A little reflection can help make this economy work for you.
Markets are not just economic systems but also social ecosystems layered with identity, belief, and emotions
Markets are not just economic systems but also social ecosystems layered with identity, belief, and emotions
The idea of proving one economic system right falls apart when reality refuses to stay still long enough to measure it You and I live in an economic funhouse, not a clean laborator...
The feeling of being broke isn’t always a math problem. For millions in the working class, the paycheck arrives, the bills get paid, and somehow the account still drifts toward zer...
A basic moral challenge is sorting out how people should be treated. This is often formulated in terms of obligations to others, and the usual question is “what, if anything,Read M...
Bill Phillips was an outsider to economics, but he used a machine and a chart to change the way we think about the government's role in a capitalist economy.
This paper compares agentic AI systems and human economists performing the same causal inference tasks. AI systems and humans generally obtain similar median causal effect estimate...
In Modern Principles, Tyler and I show the invisible hand by telling the story of how the increase in oil prices in the 1970s encouraged millions of adjustments in how goods were p...
This is one of a series of posts that will ask what the most pertinent question raised by a prominent influencer of political economy might have Read the full article...
The success of companies such as Airbnb and Uber created a massive sharing economy. The idea grounding the sharing economy is an old one: people provide goods and services asRead M...
Most people think the next economic crisis will begin when shortages become obvious and prices start soaring. I disagree. The battle over the next economic Read the full article...
That all sounded wonderful, and that core model and its offshoots dominated financial research for decades. The problem, however, was that it wasn’t true, or at least it wasn’t nea...
People respond to incentives. With some generous interpretation, this simple sentence summarizes the bulk of what you’ll learn in any good undergraduate economics course. The chall...
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In case you did not get the memo, human capital is now officially inferior.
Arindrajit Dube argues that the answer is empowering workers and setting mandatory wage standards across industries.
By Kudzayi Mutisi-There is something extraordinary about Zimbabweans — something the world may never fully understand. Whether Black, white, Indian, … Continue reading "Economists...
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