Josh Hendrickson on Muck Rack

Josh Hendrickson

Mississippi
As seen in: Economic Forces, Seeking Alpha, Substack, Flipboard, PCWorld, Dayton Daily News, NewsBreak, Journal-News, Springfield News-Sun, Mercatus Center, Truth on the Market, World Baseball Network
Professor and Chair, Department of Economics, Ole Miss | Senior Fellow @bitcoinpolicy | Economic Forces Newsletter: www.economicforces.xyz/
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Articles

Externalities, Pigouvian Taxation, and Optimal Policy

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By Josh Hendrickson
| economicforces.xyz
Here at Economic Forces, we love writing about externalities. They are fun to write about. On some level, they seem really easy to understand. Introductory textbooks certainly make them seem easy. Yet, this simplicity is illusory. Externalities are quite complicated. The way that externalities are typically taught at the introductory level is as follows. A negative externality is a cost paid by a third party to normal market activity that is not reflected in the price of the good being traded.
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Parking, Fireworks, and Making Sense of Prices

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By Josh Hendrickson
| economicforces.xyz
This week, I’d like to discuss two very different topics: state firework policies and university parking. Although the topics themselves seem to have nothing to do with one another, I think that the price theoretic aspects of these topics have something very important in common. Allow me to set the stage. Perhaps it is different now, but when I lived in Michigan, there was a combination of two laws that really confused me. On the one hand, it was legal to buy and sell fireworks.
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Are Giffen Goods Real?

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By Josh Hendrickson
| economicforces.xyz
Any student of price theory will know of the theoretical possibility of an upward-sloping demand curve (when the price of the good goes up, the quantity demanded goes up). This type of good is called a “Giffen good.” What if demand isn’t downward-sloping? Isn’t this a problem for price theory? After all, if both the supply and demand curves are upward-sloping, it is possible to get very different price responses when the supply or demand curve shifts.
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