Friedrich von Hayek won the Sveriges Riksbank Prize in Economic Sciences in Memory of Alfred Nobel in 1974. For the 50th anniversary of the prize, the IEA published a short collection of essays called Hayek’s Nobel: 50 Years On, edited by Kristian Niemietz. It Includes Hayek's speech upon acceptance of the Nobel Prize, "The Pretence

Conversable Economist

31.01.2025

The Child Penalty: An International View - Conversable Economist

It's well-known that when a couple has a child, the average woman experiences a "child penalty" in labor market outcomes, while outcomes for the man are largely unchanged. For a discussion of this pattern using US data, here's an article by Jane Waldfogel from back in 1998 in the Journal of Economic Perspectives. As that

Conversable Economist

01.02.2025

Modern China, the Old USSR, and American Attitudes about Trade - Conversable Economist

The GATT, formally known as the General Agreement on Tariffs and Trade but informally known as the Gentleman's Agreement to Talk and Talk, was first signed by 23 countrie back in 1947. Over the decades, all that talking led to a substantial decrease in tariffs all around the world. By 1994, the GATT morphed into

Conversable Economist

02.02.2025

Why Does February (Usually) Have 28 Days? - Conversable Economist

I understand why the calendar adds an extra day to February every four years. The revolution of the earth around the sun is approximately 365 and one-quarter days. Every four years, that adds up to one additional day, plus some extra minutes. The modest rounding error in this calculation is offset by steps like dropping

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Hayek on Decentralized Information in Markets - Conversable Economist

The Child Penalty: An International View - Conversable Economist

Modern China, the Old USSR, and American Attitudes about Trade - Conversable Economist

Why Does February (Usually) Have 28 Days? - Conversable Economist

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