A few upscale restaurants in the United States recently have ended the practice of tipping their wait staff, preferring a fixed labor cost method of compensation. This attempt to change this long-standing cultural practice presents a fascinating opportunity to explore a variety of economic concepts including principal-agent problems, gains-from-trade, price discrimination, and cultural institutions designed […]
Learn economics from the Austrian School. The economics of the Austrian school are based on economic law and logical deductions. You won’t find breaking windows or digging ditches for the sake of it here.
Paging Donald Trump
The US criminal justice system is hopelessly broken, riddled with bad incentives and bad actors. In the wake of recent police shootings, Dr. Ed Stringham joins Jeff Deist to help us understand how and why private security firms could create vastly better outcomes for crime victims, society, and even perpetrators. This is a fascinating discussion […]
Arguments for a “rules based” Fed are gaining momentum on both the political Left and Right— and even among some libertarians. Would the adoption of ideas like NGDP targeting and the “Taylor Rule” really make make the Fed less dangerous? Would they be an improvement on the Fed’s current discretionary approach? Can monetary “rules” really […]
Hoppe debunks Marxism.
Dr. Williams explains why eliminating the bottom rungs from the job entry ladder may not be a good idea
Professor Sowell brilliantly explains how the herd mentality on the left has worsened race relations in America
By Ron Paul Congress ended the week by passing a continuing resolution keeping the government funded for one more week. This stopgap funding bill is designed to give Congress and the White House more time to negotiate a long-term spending bill. Passage of a long-term spending bill has been delayed over objections to Republican efforts […]
Danielle DiMartino Booth is a former Dallas Fed staffer and author of the new book ‘Fed Up: An Insider’s Take on Why the Federal Reserve is Bad for America’. She joins Jeff Deist to talk about her years watching Ivy League PhDs make gross and fundamental errors in an almost comically cloistered environment.