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Caleb S. Fuller

Associate Professor of Economics at the Winklevoss School of Business at Grove City College. Research Fellow at the Independent Institute.

https://calebsfuller.com/

Mere Economics: The Extended Edition

In order to write a book that is roughly the length of Mere Christianity, Art and I left quite a bit of material on the drawing room floor. We had plans to discuss political economy and public goods in greater detail. We wanted a chapter on business cycles. And can

Diamonds are Forever - Private Governance

I'm posting a 14-part series of mini-essays on diamonds (but really about the economic point of view). Here's part 13. Private Governance Yes, diamonds are well-protected, but they also have characteristics which make them easier to steal, characteristics that raise the costs of protecting them. Namely,

"Mere Economics" is Here!

Mere Economics: Lessons for and from the Ordinary Business of Life releases today! Order your copy here. Ideally, the book can serve as a supplement for introductory econ courses.

Tullock Truth

The modern state is largely a mechanism for transferring funds from one person to another. What we economists call public goods are provided by the state but are now only a part of it. The United States is not as far along in this procedure as many other countries, but

Econ 101 Perishes for Want of Wonder

Here's my attempt to recapture the wonder of social cooperation by in my Econ 101 class by asking a question each day about the social order: DATE TOPIC READING Jan 13 Welcome to Econ 101: What do you need to succeed in this course? N/A Jan 15

The Time I Ran Smackdab into an Entry Barrier!

In this essay which I originally published at The Independent Institute, I describe my experience with entry barriers–up close and personal. Experience is the best teacher. So, while my first introduction to the idea of entry barriers was undoubtedly as an undergraduate student, my first encounter with them was

Diamonds are Forever - Property Rights

I'm posting a 14-part series of mini-essays on diamonds (but really about the economic point of view). Here's part 12. Property Rights Property rights, in the economic sense, describe a person’s capacity to exercise control over an asset. Control refers to the ability to appropriate

Meet the Endorsers

Art and I were honored by the tremendous scholars who endorsed Mere Economics. It'd take another book to catalogue their magnificent achievements, so here's a short summary instead. * Mike Munger. Mike hardly needs an introduction. He's professor of political science and economics at Duke

Alchian Analytics

In every society, conflicts of interest among the members of that society must be resolved. The process by which that resolution (not elimination!) occurs is known as competition. Since, by definition, there is no way to eliminate competition, the relevant question is what kind of competition shall be used in

Why Not Socialism?

With apologies to G.A. Cohen, I offer a few responses in this video: