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The introductory economics course, often called Econ 101, is where most economists get their start and where many students receive their only exposure to the field. This essay discusses the course's evolution. It first looks back at how economics was taught at Harvard University in the 19th century, based on a textbook by Professor Francis Bowen. It then looks ahead at how the introductory course may change as pedagogical tools improve, as society confronts new challenges, and as the field accumulates new knowledge. JEL Classification: A2

Piketty argues that r > g is the "the central contradiction of capitalism" and that it will lead to an "endless inegalitarian spiral." As a result, he argues for a new global tax on capital. In this brief essay, I explain why I am not persuaded by either his prediction or his prescription.

"N. Gregory Mankiw, der in seinem Text insbesondere utilitaristische Ansätze zur Einkommensverteilung und diverse Konzepte staatlicher Umverteilungspolitik kritisiert, verteidigt niedrige Spitzensteuersätze und hohe Spitzeneinkommen, insoweit diese außerordentliche Produktivität widerspiegelten und daher gerecht seien." (Autorenreferat)