This paper develops a critique of the single-tax proposal of Henry George. We present a simple search-theoretic model for the discovery of natural resources and show that a tax on the unimproved value of land is distortionary. We then consider the time inconsistency and regime uncertainty...

As teachers, economists usually assume that their students have systematically biased beliefs about economics; yet, as researchers, economists usually assume that voters understand how the economy works. Teachers have it right, according to Bryan Caplan, and so modern political economy needs a...

Terrorism in general, and suicidal terrorism in particular, is popularly seen as “irrational,” but many economists and political scientists argue otherwise. This paper distinguishes three different senses of irrationality: unresponsiveness to incentives, deviation from narrow self-interest,...