Art Carden

Birmingham

Contributor at American Institute for Economic Research Podcast

Writer and Contributor at Citizens Journal

Econ @SamfordU & wearer of many hats. I Write Things: @AIER, @ForbesOpinion, @EconLog, https://t.co/JpmZZPDPyd. "Mere Economics" Coming April 2025.

Articles

The Obvious Superiority of Collective Choices?

1 month ago | econlib.org | Pierre Lemieux |Art Carden |David Henderson

If someone external to your group wants to invest in a certain territory encompassing you, your group’s permission should be required. The argument seems obvious. It is nearly by definition that when we make a decision collectively, the individual must submit. The individual is just one but the collective is more than one. Or so goes the argument.
Ludwig von Mises and the Berlin Batman

1 month ago | econlib.org | Art Carden |David Henderson |Marcos Falcone

A body of literature called the New History of Capitalism argues (incorrectly, I believe) that Western prosperity is built on legacies of exploitation like colonialism and slavery. Economists are very skeptical because the New Historians of Capitalism rest much of their case on fundamental misunderstandings of basic economic concepts like national income accounting. Economists have criticized some of the movement’s foundational texts in the blogosphere and scholarly journals.
Your Job Means More Than You Think: Rethinking Job Descriptions

1 month ago | forbes.com | Art Carden

When people think about meaningful jobs that make a difference, they usually don’t think about janitors, auto mechanics, baristas, fast food workers, middle managers, and secretaries. However, when you think about these jobs, they mean a lot more than you might think. You might be familiar with people inflating job titles, but this isn’t that.
How does a stronger US dollar hurt international college students?

1 month ago | econlib.org | Art Carden |Pierre Lemieux |Scott Sumner

Two years ago, a bright-eyed student stepped off a plane from Melbourne after a 17-hour flight to the United States, excited to begin a college journey in a new country. He had never been to the USA before and was ready to deal with whatever tribulations studying in a foreign country had in store. However, one challenge he didn’t expect came from the strong US dollar.
Revealed preference as an analytical tool

2 months ago | econlib.org | Scott Sumner |David Henderson |Art Carden

Economists like to look at actual behavior as a way of inferring what people believe. This is called “revealed preference.” I’ve always found it to be a very useful tool. Recent statements by top Trump administration officials have puzzled observers on both sides of the political spectrum.
The Tension in Discussions of Tariff Burdens

2 months ago | econlib.org | David Henderson |Art Carden |Pierre Lemieux

Many people who discuss who actually pays for tariffs claim that they are paid solely by consumers. Even many economists, including co-blogger Pierre Lemieux, say that. But it’s important to look at what people are implicitly assuming when they make that claim. Here’s what I wrote in “Tariffs Will Hurt Canadians and Americans Alike,” Defining Ideas, December 19, 2024:Many people who have, like me, been critical of tariffs, have claimed that US consumers bear the whole cost of the tariff.
Prices and the Possibility of Civilization

2 months ago | econlib.org | Art Carden |John Maynard Keynes |Pierre Lemieux |David Henderson

“I give you the toast of the Royal Economic Society, of economics and economists, who are the trustees not of civilization, but of the possibility of civilization.” John Maynard Keynes, quoted in Dwight E. Robinson, “Economics and ‘The Possibility of Civilization’” Four Judgments, Quarterly Journal of Economics 67(1), Feb 1953, pp. 50-75, p. 50Look around you. No doubt you see people doing things that don’t make much sense when you think about it.
Trickle-down in Austin

2 months ago | econlib.org | Scott Sumner |Art Carden |Pierre Lemieux

Trickle-down economics is often caricatured as the claim that by giving money to the rich, the benefits will eventually trickle down to the poor. That theory is probably false, but that’s not what advocates of trickle-down are actually recommending. Housing is one area where trickle-down actually does work.
Public Choice Doesn’t Require Us to Assume People Are Evil

2 months ago | econlib.org | Art Carden |James M. Buchanan |Pierre Lemieux |David Henderson

Public Choice, the economist James M. Buchanan explained, is built on the “homely” proposition that politicians are just like the rest of us. We call this “behavioral symmetry.” They have their own interests, and they try to satisfy those interests. Furthermore, we can understand people’s behavior in the voting booth and the bureau using the same tools we use to understand their behavior in the supermarket and the boardroom.
On Self-Interest and Old Books

Dec 18, 2024 | adamsmithworks.org | Art Carden

“It is a good rule, after reading a new book, never to allow yourself another new one till you have read an old one in between.” – C.S. LewisYou might remember the scene in A Beautiful Mind where Russell Crowe as John Nash is inspired to develop his groundbreaking ideas. It’s good cinema but bad social science and worse history. It makes the case for spending a little more time reading old books and a little less time trying to speak or to hear some new thing.