The Corner

Anti-Keynesian Nobels

In today’s WSJ, economist David Henderson explains how the scholarship of this year’s Nobel laureates in economics, Thomas Sargent and Christopher Sims, undermines Keynesian arguments.  Moreover, Sargent’s work has shown how extended unemployment insurance encourages longer term unemployment and leads to the loss of human capital.

Jonathan H. Adler — Mr. Adler is an NRO contributing editor and the inaugural Johan Verheij Memorial Professor of Law at Case Western Reserve University School of Law. His latest book is Marijuana Federalism: Uncle Sam and Mary Jane.

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