Richard Thaler, of the University of Chicago, just won the Nobel Memorial Prize in economics for his contribution to behavioral economics — the subfield known for exploring how psychological biases cause people to act in ways that diverge from pure rational self-interest. Policymakers are more likely to know him for a different reason. Together with ...

The publication of Nancy MacLean’s Democracy in Chains, a history of the “public choice” economist James Buchanan and his impact on American politics, has led to an enormous, highly charged debate. But as Marshall Steinbaum correctly noted in this journal, not many people have weighed in who aren’t either Team Public Choice or Team Anti-Buchanan. ...