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Dates
- May 2025
- April 2025

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Wildfires, Opioids, and the Legacy of Limited Liability – by Dr. Cecil Bohanon and Dr. John Horowitz
- Business
May 27, 2025 by christianhartselle
Potential corporate misconduct is in the news. Did downed power lines cause the wildfires in Hawaii and California? What more should the power companies have done to avoid wildfires? Did Purdue Pharma and the Sackler family push Oxycontin to increase their profits? Did they knowingly misrepresent how addictive their painkillers can be, potentially causing hundreds […]

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Ohio, Israel, and Constitutions – by Dr. Cecil Bohanon and Dr. John Horowitz
- Government
May 23, 2025 by christianhartselle
An integral part of any economy is the political constitution under which is operates. Constitutions codify procedures and place limits on government actions. Constitutions stabilize the “rules of the game” that are crucial for rational economic calculation. Since constitutional law aims to provide certainty, the process for amending the constitution is designed to be cumbersome. […]

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The Price of Peace in El Salvador – by Dr. Cecil Bohanon and Dr. John Horowitz
- Government
May 23, 2025 by christianhartselle
Originally written on 7/25/2023 Economists are fond of saying there are no solutions to social problems, only trade-offs. Often these trade-offs cannot be known precisely in advance and are inherently “tragic.” Since March 2022, the government of El Salvador has incarcerated 68,000 citizens, or over 1% of the nation’s population. The news images shows rows […]

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Order Without Design: Lessons from Language – by Dr. Cecil Bohanon and Dr. John Horowitz
- History
May 23, 2025 by christianhartselle
18th-century Scottish philosopher Adam Ferguson greatly influenced one of our favorite economists, Austrian-school Friedrich Hayek. Ferguson, a contemporary of the more famous Adam Smith, noted that many beneficial patterns of human interaction are “the result of human action, but not the execution of any human design.” Ferguson’s idea of order without design influenced Hayek’s concept […]

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Networks That Shape History and Morality – by Dr. Cecil Bohanon and Dr. John Horowitz
- History
May 23, 2025 by christianhartselle
Leadership depends on the network of people you influence and the networks that influence you. Several recent economics studies examine the influence of social networks on people’s decisions. In “Leadership in Social Movements: Evidence from the ‘Forty-Eighters’ in the Civil War,” the authors look at social activists who supported the European Revolutions of 1848. Forty-Eighters […]

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Why TIPS Matter for the Fed – by Dr. Cecil Bohanon and Dr. John Horowitz
- Inflation
May 23, 2025 by christianhartselle
Originally written on 6/26/2023 A persistent and crucial economic question is and always will be: what will inflation be in the future? There is no foolproof method of knowing, but as we have highlighted in previous columns, there are indicators that give insights. Our favorite is the TIPS spread. In 1997, the U.S. Treasury started […]

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Development and the Environment – by Dr. Cecil Bohanon and Dr. John Horowitz
- Health economics
May 9, 2025 by christianhartselle
Many people are concerned about the risks to the environment from economic growth. During the late 1700s and 1800s, the Industrial Revolution in the United Kingdom increased output and pollution as people moved to cities, and factories and homes burned coal. English cities such as Manchester and London had a dull haze that continually hung […]

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The End of Western Hegemony? – by Dr. Cecil Bohanon and Dr. John Horowitz
- Geopolitics
May 9, 2025 by christianhartselle
The Oxford English Dictionary defines hegemony as “leadership or dominance, especially by one country or social group over others.” There is little question that Western hegemony in most areas, including military, culture, international organizations, technology, education, ethical values, political thought, and economics, has characterized the last two centuries. Countries typically included as part of the […]

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Bill Oesterle and the Economics of Information – by Dr. Cecil Bohanon and Dr. John Horowitz
- Business
May 9, 2025 by christianhartselle
Indiana has lost a superstar. Bill Oesterle passed away, as reported last week in this newspaper and elsewhere. Bill earned an honors undergraduate economics degree from Purdue and a Harvard M.B.A. In February 2022, Bill spoke to the student-led Ball State Economics Club in February 2022. Bill gave us an inside view into the growth, […]

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Spring, Freedom, and Economics – by Dr. Cecil Bohanon and Dr. John Horowitz
- Macroeconomics
May 8, 2025 by christianhartselle
Spring is the time of year when many cultures celebrate rebirth and freedom from oppression. Christians celebrate Easter, Jews celebrate Passover, and Chinese and many other cultures have Spring Festivals. What does economics have to do with freedom and rebirth? Economist Joseph Schumpeter’s celebrated theory of creative destruction comes to mind. Schumpeter saw modern market […]

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