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Economics Reality Check

Dave Hebert

Cutting through the economic myths, political spin, and policy nonsense with clear-eyed analysis of trade, taxes, and fiscal reality from an economist who's seen it all from Congress to the classroom.

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Substack
PricingOnly free issuesPublishesTwice weekly
Issues153Founded2 years agoLast Issue4 days ago
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Latest Issues

Unintended Consequences of the Minimum Wage

As a reminder: this post was written using Claude Opus 4.8 on Low. I would play with the new model, Fable, but… holy usage rates, Batman! Standard caveats apply: I copyedited it, fact checked the numbers, added links, etc.


Imagine y...

4 days ago
3

Equilibrium, Price Controls, and Unintended Consequences

Imagine you wake up tomorrow and the price of plastic doubles. No announcement. No memo. No congressional hearing. Just a bigger number on the invoice.

What do you do? You use less plastic. You hunt for substitutes. You stop wasting it. Yo...

7 days ago
5

Prohibition and When "Or" Goods Get Deadly

Earlier this week, I put up a post about demand and supply. There’s a lot in there, but one of my favorite parts came right at the beginning: complements (and goods) and substitutes (or goods). I wanted to build today’s post around that sec...

12 days ago
2

Demand and Supply

Imagine you’re standing in the grocery store and a can of soup is on sale. The store could have offered you “50% off.” Instead, the sign says “Buy One, Get One Free.” Mathematically, those are the same deal. So why do stores almost always p...

14 days ago
3

Gerrymandering

Here’s a Letter to the Editor I sent to the New York Times last week:

Dear Editor,

Mr. Holder is exactly correct that the redistricting chaos has gone on long enough (“This Redistricting Chaos Must End,” Opinion, 5/18/26). Unfortuna...

18 days ago
5

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  • Dave Hebert

    Director of Economics and Economic Freedom, American Institute for Economic Research. Affiliated scholar with the Mackinac Center and Acton Institute. Recovering academic. Views my own.

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