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Featured Post: Bryan Caplan, CPI Bias and Happiness
Our nominal income rises every year. But what about our real income – our “standard of living”? In order to answer that question, we have to accurately measure inflation. If we understate inflation, we’re getting richer at a slower pace than we think. If we overstate inflation, we’re getting richer at a faster pace than we think.
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FEATURED ECONTALK EPISODES
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George Will on Conservative Sensibility
George Will talks about his new book, The Conservative Sensibility, with EconTalk host Russ Roberts. Will argues for a conservative vision that embraces the dynamic nature of life. Topics discussed include the current political landscape, the American founding, James Madison's vision of government vs. Woodrow Wilson's, Friedrich Hayek, and of course, a little baseball.
Don't miss Arnold Kling's August review of Will's book, also at Econlib.
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Featured Entry: Economic Freedom
Adam Smith was one of the first economists to argue for a version of economic freedom, and he was followed by a distinguished line of thinkers that includes John Stuart Mill, Ludwig von Mises, Friedrich A. Hayek, and Milton Friedman, as well as economists such as Murray Rothbard.
On the other side of this debate are people hostile to economic freedom who instead argue for an economic system characterized by centralized economic planning and state control of the means of production.
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For over four decades, Liberty Fund has made available some of the finest books in history, politics, philosophy, law, education, and economics—books of enduring value that have helped to shape ideas and events in man’s quest for liberty, order, and justice. Access the online catalog here.
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