Billy Foster, PhD

Billy Foster

Clinical Assistant Professor of Economics at

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Quotations

A planted seed has value long before it becomes a tree. The potential benefits are enough to give it value. Teaching is the planting of seeds. Knowledge, or even better, wisdom, is an investment like a tree that goes on and on producing fruit. But unlike a fruit tree, you have no idea when the fruit will come or what kind it will be. — Russell Roberts, The Price of Everything (2008)

Posts Tagged ‘black markets’

Prof. Adam Martin explains how the drug war has altered incentives for both drug buyers and sellers, leading them to favor higher potency drugs. This is what economists call the potency effect.

Prof. Angela Dills discusses the economics of drug prohibition.