Debates over how to promote a healthy economy are pervasive once more, after decades when it seemed such debates had been put to rest. The market meltdown of 2008 ended a long string of years in which monetary policy reigned supreme. Monetary policy is the regulation of money and the banking system to influence economic variables. Its adherents,…

An introductory course is the discipline's handshake; it is the greeting that either seals the deal or in varying degrees convinces the learner that this discipline has little usefulness. Given the huge stakes in forming a strategy for the introductory course, how should we structure the course? The argument in this paper is that we should…

Each time the Organization for Economic Cooperation and Development announces that America's students are falling behind those of other countries, and with every business section article on America's trade deficit with China, America sees a new commission to reinforce the negatives and urge dramatic upgrading of the workforce. This author states…

Historians work in a discipline with few inherent concepts and are obliged to draw upon many fields in recreating the past. Yet authors of most school history texts, state and national standards and curriculum materials seldom incorporate economic analysis in their work. Just look at state standards that include Adam Smith and John Locke but draw…

The author argues that the college textbook market provides a clear example of monopoly seeking as described by Tullock (1967, 1980). This behavior is also known as rent seeking. Because this market is important to students, this example of rent seeking will be of particular interest to them. (Contains 24 notes.)

This article presents the author's response to four thoughtful reviews of his article. These reviews include: (1) Steve Heyneman and Kathryn Anderson's (2008) review: "A Quarter Century of Getting It Right in Education"; (2) Annie Vinokur's (2008) review; (3) Suzanne Bergeron's (2008) review; and (4) Jerrold Kachur's review and the extensive…

In his article titled "A Quarter Century of Neoliberal Thinking in Education: Misleading Analyses and Failed Policies", Steven J. Klees provides a rich account of how educational policy has been influenced by a shift towards neoliberal economic thinking since the 1980s. He also effectively demonstrates the negative impact of this experiment in…

Only governments can ensure, through laws and policies, the provision of universal public goods, such as a safe supply of water, affordable health care and housing. They can regulate commerce and the private sector. However, governments cannot legislate Jean-Paul Sartre's radical freedoms, Amartya Sen's developmental freedoms, or Hannah Arendt's…

The author disagrees with Homer Simpson who claims that "...cartoons don't have any deep meaning. They're just stupid drawings that give you a cheap laugh." He argues that The Simpsons have a deep meaning in the same way as the works of Jonathan Swift and George Orwell. The message in The Simpsons, Swift, and Orwell is that those in charge do not…

Adam Smith used the metaphor of an invisible hand to represent the instincts of human nature that direct behavior. Moderated by self-control and guided by proper institutional incentives, actions grounded in instincts can be shown to generate a beneficial social order even if not intended. Smith's concept, however, has been diluted and distorted…

Although recent research strongly suggests that L. Frank Baum did not write "The Wonderful Wizard of Oz" as a monetary or political allegory, the Populist-parable interpretation of his book remains a tremendous teaching tool in economics classes. The author offers some background on the rise and fall of the Populist interpretation, in recognition…

The rational expectations hypothesis has had a profound impact on macroeconomic theory and policy during the past decade. The most significant contribution of the hypothesis is in formulating expectations in a genuinely forward-looking way, thereby making the current state of the economy depend on expectations of the future. (Author/RM)

Few of the popular British economics textbooks make more than passing mention of finance houses. The role of finance houses in the British economy is reviewed. (Author/RM)

The economic system is an important factor affecting consumer decisions. Students need opportunities to study the economic system so that they can understand how their decisions influence the system and are influenced by it. (JOW)

To respond to today's economic situation, old remedies must be discarded. Students must question causes and effects of problems before suggesting appropriate solutions. (JOW)