Econlib Resources
Liberty Fund Resources
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FEATURED TOPIC
Urban TransportationKenneth A. Small
The defining trait of urban areas is density: of people, activities, and structures. The defining trait of urban transportation is the ability to cope with this density while moving people and goods. Density creates challenges for urban transportation because of crowding and the expense of providing infrastructure in built-up areas. It also creates certain advantages because of economies of scale: some transportation activities are cheaper when carried out in large volumes. These characteristics mean that two of the most important phenomena in urban transportation are traffic congestion and mass transit....
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ALSO OF INTEREST
CharityRussell RobertsEthics and EconomicsStephen R. C. HicksPolitical BehaviorRichard L. StroupFinancial RegulationBert ElyGovernment Debt and DeficitsJohn J. SeaterFEATURED BIOGRAPHY
Robert E. Lucas(1937-)
Robert Lucas was awarded the 1995 Nobel Prize in economics "for having developed and applied the hypothesis of Rational Expectations, and thereby having transformed macroeconomic analysis and deepened our understanding of economic policy." More than any other person in the period from 1970 to 2000, Robert Lucas revolutionized macroeconomic theory. His work led directly to the pathbreaking work of Finn Kydland and Edward Prescott, which won them the 2004 Nobel Prize....
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The cuneiform inscription in the Liberty Fund logo is the earliest-known written appearance of the word "freedom" (amagi), or "liberty." It is taken from a clay document written about 2300 B.C. in the Sumerian city-state of Lagash.
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