Richard Vedder

Richard K. Vedder is a Senior Fellow at the Independent Institute and Distinguished Emeritus Professor of Economics at Ohio University; and he is the Founding Director of the Center for College Affordability and Productivity in Washington, D.C. He is author of numerous books, including Let Colleges Fail: The Power of Creative Destruction in Higher Education (2025), and Restoring the Promise: Higher Education in America (2019), both published by the Independent Institute.

Articles

It took seven decades, but most people now accept what Ludwig von Mises explained three quarters of a century ago, namely, that centrally directed socialistic economies cannot succeed in coordinating vast numbers of interrelated decisions, in large part because of the information problem arising from non-market forms of resource allocation (Mises 1920). No amount of input-out- put models generated on vast computers can overcome the problems of directing resources under changing conditions of wants and scar-city.

Publications

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