Archive for Russell Roberts
America and the World’s Resources
At the heart of almost all economics is the idea of mutually beneficial exchange. When two people voluntarily engage in an activity, economists assume that both parties are better off. Otherwise, one of them would have refused the deal. It doesn’t mean people don’t make mistakes—sure they do.
1Dec2001 | Russell Roberts | 0 comments | ContinuedThe Pursuit of Happiness ~ Does Trade Exploit the Poorest of the Poor?
Roughly 180 years ago David Ricardo discovered comparative advantage. He showed that trade benefits both trading partners even when one is less productive than the other across all activities. There are gains from trade and specialization even in that case.
1Sep2001 | Russell Roberts | 0 comments | ContinuedI, Pepsi
Russell Roberts is an economist with the Weidenbaum Center on the Economy, Government and Public Policy at Washington University in St. Louis. His new book is The Invisible Heart: An Economic Romance (MIT Press, 2001).
One of Frédéric Bastiat’s great insights into understanding economics was to distinguish what is seen from what is not [...]
Relying on Relatives
Russell Roberts is an economist with the Weidenbaum Center on the Economy, Government, and Public Policy at Washington University in St. Louis. His new book is The Invisible Heart: An Economic Romance (MIT Press, 2001).
One of the highlights of the 2000 presidential campaign was Winifred Skinner. You may remember her—she was the can-collecting 79-year-old woman [...]
Dont Fear Deficits
Russell Roberts is an economist with the Center for the Study of American Business at Washington University in St. Louis.
At current tax rates, barring a recession, the federal government will run large and growing surpluses during the next decade and beyond. Yet regardless of the identity of the new president or the character of [...]
Will Campaign Finance Reform Enhance the Power of the People?
Russell Roberts is an economist with the Center for the Study of American Business at Washington University in St. Louis.
A common cry among the reform set these days is that there is too much money in politics. Those who decry the role of money in politics imagine a world where the 535 members of [...]
Nothing Left to Buy?
Russell Roberts is an economist with the Center for the Study of American Business at Washington University in St. Louis.
America is now in the middle of an unparalleled economic expansion. In the fourth quarter of 1999, the economy grew at the frenetic rate of 6.9 percent. The Dow climbs upward. Even some so-called serious [...]
They Can Afford It, Can’t They?
Russell Roberts is the John M. Olin Visiting Professor of Labor Economics and Public Policy at the Center for the Study of American Business at Washington University in St. Louis.
A lot of bad public policy is based on the “they can afford it” principle. Pharmaceutical prices should be lower because pharmaceutical companies can afford it. [...]
Transforming the Political Marketplace
Russell Roberts is the John M. Olin Visiting Professor of Labor Economics and Public Policy at the Center for the Study of American Business at Washington University in St. Louis.
What we expect from our politicians goes a long way toward determining what kind of politicians we can expect to find in office. Just as [...]
A World Without the FDA
Russell Roberts is Distinguished Scholar and John M. Olin Visiting Professor of Labor Economics and Public Policy at the Center for the Study of American Business at Washington University in St. Louis. He is the author of The Choice: A Fable of Free Trade and Protectionism (Prentice Hall).
Back in 1980 I had the [...]
Nothing’s Free
Russell Roberts is director of the Management Center at the John M. Olin School of Business at Washington University in St. Louis. He is the author of The Choice: A Fable of Free Trade and Protectionism (Prentice Hall).
My brother and I have a game we play from time to time. He calls me with [...]
Illuminating the Unseen
Russell Roberts is director of the Management Center at the John M. Olin School of Business at Washington University in St. Louis. He is the author of The Choice: A Fable of Free Trade and Protectionism (Prentice Hall).
The good effects of laws are often easily seen. The bad effects, unseen. So observed Frederic Bastiat [...]
Market Worship? It Just Ain’t So!
As we approach the millennium, the pace of economic change quickens. Consumers have always wanted better products at lower prices. But in today’s economy, the market delivers “better and cheaper” more quickly than at any time in human history The time between product improvements gets shorter and shorter. Competition drives prices lower.
It’s a wonderful time [...]
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Book Reviews
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The End of Prosperity: How Higher Taxes Will Doom the Economy–If We Let it Happen
By Arthur B. Laffer, Stephen Moore, and Peter J. Tanous
