Economic Way of Thinking
How a Tiny Village Transformed China’s Economy by Proving Incentives Matter
"Work hard, don't work hard—everyone gets the same. So people don't want to work," said Yan Junchang, a farmer in the village of Xiaogang who spearheaded a movement in 1978 that revolutionized China's backward economy.
Public Choice Doesn’t Require Us to Assume People Are Evil - Econlib
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 […]
Micron Gets $6.2 Billion Chips Award to Spur Plant Expansion
The Biden administration has reached a final agreement to give Micron Corp. nearly $6.2 billion in subsidies from a program designed to boost American semiconductor manufacturing, allowing funds to start flowing to factories in Idaho and New York.