Economics: A User’s Guide (Part 2)

Russell David “Russ” Roberts (born 1954) is an American-born Israeli economist. He is currently a research fellow at Stanford University’s Hoover Institution and president of Shalem College in Jerusalem.

He is known for communicating economic ideas in understandable terms as host of the EconTalk podcast.

Roberts describes himself as a classic liberal, stating, he believes in limited government combined with personal responsibility. He says I am somewhat of a libertarian, but that term comes with some baggage and some confusion.”

In the world of economics ‘classic liberal’ translates as ‘neoclassical’. For non-economists, that really means ‘conservative’.

For Part Two of our guide, we wanted to highlight a conservative, neoclassical approach. Like Ha-Joon Chang, Roberts is not only a great communicator, but also particularly self-aware. His entertaining 2014 book: How Adam Smith Can Change Your Life, gives contemporary readers some great insights into the founder of modern economics’ other book – The Theory of Moral Sentiments.

Economics: A User’s Guide (Part 2) –

WATCH FULL VIDEO:

Risks of Founding a Startup

What are the chances of a successful exit for angel investors in a startup? Angel investing is a high-risk, high-reward game. The chances of a

Silicon Valley Snake Oil

The old west is alive and well in Silicon Valley – and Silicon Valley North.The closure of Bench Accounting Inc – self-described as the “world’s

Bench Accounting Closes its Doors

According to an article in the Globe and Mail on December 27th, 2024:“Bench Accounting, a Vancouver-based bookkeeping company, ceased operations Friday, potentially putting hundreds out

Regulatory Bodies in the Accounting Profession

The 20th century saw a proliferation of professions from the original three:First, theology;Second, medicine;and third, the law. Religion has recently lost out to ideology. But

Taylor Mania

First, an admission.We didn’t actually go to Vancouver to see the much-hyped Taylor Swift tour.I mean we’re not stupid.We didn’t just pay off our mortgage,

Trump’s Cunning Economic Plan

As Canadian politicians bend over backwards to placate the incoming president, they seem unable to understand what they’re dealing with. Tariffs are Trump’s favorite toy.

Economics: A User’s Guide (Part 1)

Ha-Joon Chang was born in Seoul, South Korea, on 7 October, 1963 (there are stories about what life was like in South Korea in my

How Influence Works in Canada

Yesterday morning I attended a video conference with the CEO of a promising startup in the AI space. The other attendees were two lawyers from

Productivity and Human Capital in Higher Education

The first European universities emerged at the beginning of the High Middle Ages, offering courses in the liberal arts, and advanced professional training in theology,

What Warren Buffett can Teach us about Capitalism

While Milton Friedman preaches the gospel of the free market and free trade, he ignores anything that interferes with the beauty and metaphysical elegance of

Risks of Founding a Startup

Silicon Valley Snake Oil

Bench Accounting Closes its Doors

Regulatory Bodies in the Accounting Profession

Taylor Mania

Trump’s Cunning Economic Plan

ABOUT

Launch – June 16th, 2023

The MAIN STREET JOURNAL was launched online in 2023, as a kind of Canadian, small business counterpoint to the venerable WALL STREET JOURNAL (WSJ), established in New York City in 1889.

Canada’s small businesses are smaller than most people think.

This is true for people that work in small businesses, for policymakers, business schools, and the business press. The self-employed and other small business owners don’t ‘get no respect’ and yet about 73% of private sector employment in Canada is made up of the 2.85 million self-employed individuals, and 1.3 million small employer businesses which average less than 7 employees.

We believe it’s time that these workers, and the small business owner-managers that employ them, got some respect. What’s more, we believe that business schools and policymakers should get out of their ivory towers and take a walk on Main Street!

Finance + Investment