The Economics of War


This speech was given at The Future of Freedom Foundation’s June 2008 conference, “Restoring the Republic: Foreign Policy & Civil Liberties” held in Reston, Virginia.

Transcript (PDF)

David R. Henderson is an associate professor of economics at the Naval Postgraduate School in Monterey, California and a Research Fellow with the Hoover Institution at Stanford University. From 1982 to 1984, he was the senior economist for health policy, and from 1983 to 1984 he was the senior economist for energy policy, with President Reagan’s Council of Economic Advisers.

David Henderson is the editor of The Concise Encyclopedia of Economics (Liberty Fund, 2008). His book, The Joy of Freedom: An Economist’s Odyssey, was published by Financial Times Prentice Hall in the fall of 2001, and has been translated into Chinese. He also wrote, with Charles L. Hooper, Making Great Decisions in Business and Life (Chicago Park Press, 2006). It has been translated into Japanese and Korean.

Henderson has written over 100 articles for such popular publications as The Wall Street Journal, New York Times, Barron’s, Fortune, Los Angeles Times, Chicago Tribune, Public Interest, National Review, Red Herring, and Reason. He has also written scholarly articles for such journals as: Journal of Policy Analysis and Management, Independent Review, Cato Journal, Regulation, Contemporary Policy Issues, Econ Journal Watch, and Energy Journal. He writes twice-monthly articles for

Henderson has testified before the House Ways and Means Committee, the Senate Armed Services Committee, and the Senate Committee on Labor and Human Resources. He has also appeared on C-SPAN, CNN, the Jim Lehrer Newshour, and The O’Reilly Factor, and has done radio interviews with NPR and the BBC.

Born and raised in Canada, he moved to the United States in 1972 to get his Ph.D. in economics at UCLA.

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David R. Henderson, a research fellow with the Hoover Institution and an economics professor at the Naval Postgraduate School, was the senior economist for health policy with President Reagan's Council of Economic Advisers. Charles L. Hooper is a visiting fellow with the Hoover Institution and president of Objective Insights, a company that consults for pharmaceutical and biotech companies.