George Stigler was the quintessential practical economist. Looking through his classic book The Theory of Price, one is in awe by how many principles of economics are illustrated with real data rather than hypothetical, made up examples. A professor at the University of Chicago, Stigler went on to w...

The Value of Money " So, when the money failed in the land of Egypt and in the land of Canaan, all of the Egyptians came to Joseph and said, ' Give us bread, for why should we die in your presence? For the money has failed" (Genesis 47:15) When economists wrot...

The Scorecard on Globalization Globalization and its Discontents by Joseph Stiglitz brings to light many different arguments about the way globalization is being handled by different government agencies especially the International Monetary Fund, and the World Bank. It is Stiglitz argument th...