Lessons from the Phillips Curve

Anyone who has followed macroeconomic debates of the last half-century is surely familiar with the Phillips Curve, a name given to the supposed negative relationship between the unemployment rate and […]

Why Studying Economics Requires Curiosity

Recently, I argued that studying economics instills gratitude. A friend responded by asking me what intellectual virtues are necessary for understanding economics. Gratitude may be a result of studying economics, […]

Wanted: Economic Literacy

Economist Thomas Sowell once wrote, “The first lesson of economics is scarcity: there is never enough of anything to fully satisfy all those who want it. The first lesson of […]

Stratification Economics?

Science is naturally subdivided into specialties and sub-specialties. In the physical sciences isolation of one specialty from another isn’t too much of a problem, because all share a common framework. […]


Over one hundred fifty years ago, Carl Menger started his economic theorizing with the recognition that “goods” are useful things that satisfy human needs. From there, he proceeded to develop […]

Inflation and Relative Prices

I want to follow-up on my previous post on inflation by tying together a lot of topics that Brian and I discuss at Economic Forces. Our newsletter is primarily about […]