Michael Munger
Understanding Thomas Piketty’s Capital in the 21st Century
In the past decade, the theoretical and empirical arguments of French economist Thomas Piketty have attracted widespread attention.
Want Progress? Lose the Spoon Jobs
Politicians want to create jobs, “good-paying union jobs,” in existing industries. But that’s not what markets do. The “destructive” part of creative destruction eliminates jobs in existing industries. In a […]
Alfred Marshall’s Scissors
“There is simply no necessary relationship between cost and price.” ~Michael Munger
Welfare is a Jealous Polygamist
“Benefits are contingent, and the contingencies — no jobs, no marriage — are detrimental to women long term, and disturbingly similar to the restrictions a polygamist would impose.” ~Michael Munger
What Americans Can Learn From Venezuela’s Crackdown on ‘Price Gougers’
“Ten years ago, Venezuela set out on a path to economic ruin and grave shortages of basic consumer goods, because of price controls on groceries and other products. Is the US really going to travel on the same road?” ~Michael Munger
Free Kids from Their Cells
“To keep our kids from harm, we have exposed them to brain-altering habits, online predators, and addictive pastimes that don’t just have the risk, but the near certainty, of making those now children turn out to be anxious and dysfunctional adults.” ~Michael Munger
Economic Observations of Beach Parking
“The idea of ‘line up!’ is deeply ingrained in most of us, to the point where we are angry if someone ‘cuts’ in line ahead or, for that matter, behind us.” ~Michael Munger
ULTRAs: The Worst Idea You’ve Never Heard Of
“Instead of taking two percent (say) of the liquidated value of the wealth, the state would simply take ownership of the wealth, in place… In a relatively short time, the government literally takes substantial ownership of all successful private businesses.” ~Michael Munger
Stiglitz: When Good Minds Seek Fools’ Favor
“Stiglitz believes ‘education’ should be explicitly designed to attack property rights and to weaken the sense of American exceptionalism, the tradition of classical liberalism.” ~Michael Munger
Government Failure in One Lesson
“Perhaps the easiest way to explain government failure in one lesson is to remember that there is no such thing as ‘the state.’ Instead, essential decisions about resource use will be made by political actors.” ~Michael Munger
