Adam Smith begins Book I, Chapter I of An Inquiry into the Nature and Causes of the Wealth of Nations by pointing out that "(t)he greatest improvement in the productive powers of labour, and the greater part of the skill, dexterity, and judgment with which it is any where directed, or applied, seem to have been the effects of the division ...

A new paper forthcoming in the journalAmerican Economic Review: Insights estimates the effect of trade with China on American consumers and shows us what we stand to lose if we don't end the trade war. In "Estimating US Consumer Gains from Chinese Imports," economists Liang Bai of the University of Edinburgh and Sebastian Stumpner of ...

A specter haunts Europe, the United States, and the rest of the world: the specter of massive technological unemployment and, therefore, widespread immiseration. Or at least we keep hearing it does, and we've been hearing it for centuries. We keep hearing. And we keep waiting. And the specter never shows up. I doubt that it ever will. ...

As the 2020 election approaches, here's a tax idea that's guaranteed to be unpopular: eliminate the mortgage interest tax deduction and lower rates across the board. Why? Alot of economists think we should get rid of the mortgage interest tax deduction. It saves upper- and middle-class homeowners like me a lot of money every year, but a lot ...

Amid much fanfare and in his wave of protectionist fervor, President Trump has promised that the Chinese would pay and pay dearly for the right to sell us stuff. New research by economists at the Federal Reserve Board and the University of Chicago confirms what economists teach about tariffs and trade restrictions in principles of ...

On Friday, July 31, I was a guest on the Fox Business Stossel show, where we considered a handful of claims about health care, wage gaps, Walmart, stadiums, and government spending. Here are notes and sources for further reading. Here are a few claims that are and were suspect.
"If you like your health care plan, you can keep your health ...