Published on September 6, 2024 by Morgan Black  
Art Carden

 

In a Wall Street Journal letter to the editor published on Aug. 26, Samford University Professor of Economics Art Carden commented on price controls and tariffs proposed by the two presidential candidates. 

Among other commentary included in “The Bad Economic Idea That Will Never Die,” Carden weighed in on the two candidates’ plans for controlling inflation. He said, “The publicity about Ms. Harris’s economic plan reminds me of a discussion in my Econ 101 class years ago at the University of Michigan. Our textbook started out by defining ‘economics’ as the study of how economic goods or wealth is distributed in a society. Our professor wanted to make sure that we didn’t buy that. Economics, he said, is not the study of how wealth is distributed in society. That is the job of politics. Economics is the study of how wealth is created, not how it is distributed.”

Professor Carden further explains price controls and tariffs in a Brock School of Business interview found on Instagram @BrockBusiness.

 
Samford is a leading Christian university offering undergraduate programs grounded in the liberal arts with an array of nationally recognized graduate and professional schools. Founded in 1841, Samford is the 87th-oldest institution of higher learning in the United States. Samford enrolls 6,101 students from 45 states, Puerto Rico and 16 countries in its 10 academic schools: arts, arts and sciences, business, divinity, education, health professions, law, nursing, pharmacy and public health. Samford fields 17 athletic teams that compete in the tradition-rich Southern Conference and ranks 6th nationally for its Graduation Success Rate among all NCAA Division I schools.