What I Do at Wofford
I have been on the faculty at Wofford since 2000, where I have taught principles of economics, American economic history, public finance, regulation, and other courses. I’ve led interim travel projects to Australia, New Zealand, Europe (Hungary, Slovakia, Poland, Czech Republic, France), and Thailand. I have served as faculty sponsor for the Wofford Libertarians and Reformed University Fellowship.
Other Work and Research Interests
I am on the editorial staff of the Quarterly Journal of Austrian Economics and am an Associated Scholar with the Ludwig von Mises Institute in Auburn, Alabama. I am a senior fellow with the Cornwall Alliance for the Stewardship of Creation and a policy advisor for the Heartland Institute. My research interests include environmental regulation and the ethics of market systems.
Contact Information
E-mail: terrelltd@wofford.edu
Office: (864) 597-4570
I prefer that students use Starfish to schedule meetings.
429 N. Church St.
Spartanburg, SC 29303-3663
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Education
Ph.D., Economics, Auburn University, 1998.
Dissertation: “Rent-Seeking and Standing to Sue in Environmental Policy”
Committee members: Andy Barnett (chairman), Bruce Yandle, Henry Thompson
M.A., Economics, Clemson University, 1995.
B.S., Economics, Clemson University, 1994.
Academic Positions
Associate Professor, Wofford College, Spartanburg, South Carolina (2000–present)
Courses Taught: Principles of Microeconomics, Principles of Macroeconomics, Public Finance, Regulation, American Economic History, Intermediate Microeconomics, Intermediate Macroeconomics, History of Economic Thought, Senior Seminar. Special interim courses on social coordination, experimental economics, the Great Depression, the FDR presidency, and Austrian economics. Student interim travel courses to Europe (2010), Australia (2012), New Zealand (2009, 2012), and Thailand (2011, 2015).
Assistant Professor, Liberty University, Lynchburg, Virginia (1998–2000).
Courses Taught: Principles of Economics, Public Finance, Business and Economic Forecasting, Political Economy, Environmental Economics, Comparative Economic Systems, and Managerial Economics (MBA).
Other Professional Positions and Associations
Senior Fellow, Cornwall Alliance for the Stewardship of Creation (2011-present)
Associated Scholar, Ludwig von Mises Institute (2010-present)
Editorial Staff, Quarterly Journal of Austrian Economics (2009-present)
Policy Advisor, Heartland Institute (2016-present)
Member, Foundation for Economic Education Faculty Network (2016-present)
Advisory Board, Unleashing Capitalism: A Prescription for Economic Prosperity in South Carolina, edited by Peter T. Calcagno. (2009)
Editorial Board, Environmental Stewardship in the Judeo-Christian Tradition (2000)
Summer Fellow, Political Economy Research Center, Bozeman, Montana (1998)
Graduate Student Fellow, Ludwig von Mises Institute (1995–1998)
Journal Articles
Buff, Maureen J., and Timothy D. Terrell. “The Role of Third Party Payers in Medical Cost Increases,” Journal of American Physicians and Surgeons 19, no. 3. Fall 2014.
Moots, Glenn, and Timothy D. Terrell. “One Protestant Tradition’s Interface with Austrian Economics: Christian Reconstruction as Critic and Ally,” Journal of Markets and Morality 9, no. 1. Spring 2006.
Terrell, Hilton P., and Timothy D. Terrell. “Medical Information and Bureaucracy: F.A. Hayek and the Use of Medical Knowledge,” Journal of American Physicians and Surgeons 10, no. 3. Fall 2005.
Terrell, Timothy D. “Binary Economics: Paradigm Shift or Cluster of Errors?” Quarterly Journal of Austrian Economics 8, no. 1. Spring 2005.
Anderson, William L., and Timothy D. Terrell. “Stewardship without Prices and Private Property? Modern Evangelical Environmentalism’s Struggle to Value Nature,” Journal of Markets and Morality 6, no. 2. Fall 2003.
Barnett, Andy H., and Timothy D. Terrell. “Economic Observations on Citizen Suit Provisions of Environmental Legislation,” Duke Environmental Law and Policy Forum 12, no. 1. Fall 2001.
Terrell, Timothy D. “The Origin of Property Rights: A Critique of Rothbard and Hoppe on Natural Rights,” Faith and Economics 36. Fall 2000.
Barnett, Andy H., and Timothy D. Terrell. “Framing Environmental Policy Instrument Choice: Another View,” Duke Environmental Law and Policy Forum 10, no. 2. Spring 2000.
Terrell, Timothy D. “Property Rights and Externalities: The Ethics of the Austrian School,” Journal of Markets and Morality 2, no. 2. 1999.
Other Scholarly Publications (Policy Papers, Book Chapters, Book Reviews, Etc.)
Terrell, Timothy D. “Review of The Privatization of Space Exploration: Business, Technology, Law, and Policy, by Lewis D. Solomon.” Libertarian Papers 4, no. 1. 2012.
Terrell, Timothy D. “The Cost of Good Intentions: The Ethics and Economics of the War on Conventional Energy.” Cornwall Alliance for the Stewardship of Creation Briefing Paper. October 31, 2011.
Terrell, Timothy D. “Review of Foundations of Economics: A Christian View, by Shawn Ritenour.” Journal of Markets and Morality 13, no. 2. Fall 2010.
Terrell, Timothy D. “Calvin’s Contributions to Economic Theory and Policy.” In Calvin and Culture: Exploring a Worldview, edited by David W. Hall and Marvin Padgett. Phillipsburg, N.J.: P&R Publishing, 2010.
Terrell, Timothy D. “The Economics of Destutt de Tracy.” In Destutt de Tracy, A Treatise on Political Economy, i–xiv. Auburn, Ala.: Ludwig von Mises Institute, [1817] 2009.
Terrell, Timothy D. “Review of Economy and Morality: The Philosophy of the Welfare State, by Yuichi Shionoya.” Journal of Markets and Morality 9, no. 2. Fall 2006.
Terrell, Timothy D. “Review of Antitrust: The Case for Repeal, by Dominick Armentano.” Quarterly Journal of Austrian Economics 2, no. 3. Fall 1999.
Terrell, Timothy D. “Review of The End of Money and the Struggle for Financial Privacy, by Richard Rahn.” Quarterly Journal of Austrian Economics 2, no. 2. Summer 1999.
Under Review/Work in Progress
Terrell, Timothy D. “Uncertainty, Asset Specificity, and Entrepreneurial Adaptation.” (Under Review).
Presentations, Testimony, and Conference Participation
“Economic Messages from Dead Theologians,” at Faith, Freedom, and Flourishing seminar, Charleston Southern University, April 15-16, 2016.
Session chairman, “Medicine and the State” session, Austrian Economics Research Conference, Ludwig von Mises Institute, Auburn, Alabama. March 31-April 1, 2016.
Mises University conference faculty, Ludwig von Mises Institute, Auburn, Alabama. July 19-25, 2015.
Participant, Energy, the Environment, and Regulatory Policy, Institute for Humane Studies and Strata, Logan, Utah. March 19–21, 2015.
Session chairman, “Law and Economics” and “Health, Wealth, and Inequality” sessions, Austrian Economics Research Conference, Ludwig von Mises Institute, Auburn, Alabama. March 12–14, 2015.
“The Economics of John Calvin.” Presentation at Charleston Southern University, North Charleston, SC. February 26, 2015.
“Tariffs and the War between the States.” Presentation at Liberty University, Lynchburg, Virginia. November 18, 2014.
Mises University conference faculty, Ludwig von Mises Institute, Auburn, Alabama. July 20–26, 2014.
“Medical Information and Bureaucracy.” Presentation at the American Association of Physicians and Surgeons annual conference. Denver, Colorado. September 27, 2013.
Mises University conference faculty, Ludwig von Mises Institute, Auburn, Alabama. July 21–27, 2013.
“Uncertainty, Asset Specificity, and Entrepreneurial Adaptation.” Presentation at the Austrian Economics Research Conference, Ludwig von Mises Institute, Auburn, Alabama. March 21–23, 2013.
Session chairman, “Research in American Economic History.” Austrian Scholars Conference, Ludwig von Mises Institute, Auburn, Alabama. March 8–10, 2012.
“A Call to Truth on the Cost of New Mercury Regulations.” Testimony before the Energy and Power Subcommittee of the Energy and Commerce Committee, U.S. House of Representatives. February 8, 2012.
“Recession, Recovery, and Austrian Economics.” Presentation at Carolina Debate Union, University of South Carolina. October 6, 2011.
Mises University conference faculty, Ludwig von Mises Institute, Auburn, Alabama. July 24–30, 2011.
“Currency Failures from Argentina to Zimbabwe.” Presentation at the Mises Circle at Furman University, Greenville, South Carolina. November 13, 2010.
Mises University conference faculty, Ludwig von Mises Institute, Auburn, Alabama. July 25–31, 2010.
“Property Rights and Innovation in Medical Care.” Presented at Health Care Economics conference, Bryan College, Dayton, Tennessee. October 30–31, 2009.
“Calvin’s Legacy in Economic Policy.” Presented at the Association of Christian Economists 25th Anniversary Conference, Baylor University, Waco, Texas. April 16–18, 2009.
“The Influence of John Calvin on Economic Thought.” Presented at the Austrian Scholars Conference, Ludwig von Mises Institute, Auburn, Alabama. March 12–14, 2009.
Session chairman, “Monetary Economics and the Business Cycle.” Austrian Scholars Conference, Ludwig von Mises Institute, Auburn, Alabama. March 13–15, 2007.
Participant, 29th Annual Symposium on Ethical Decision-Making and Moral Values, Hilton Head Island, South Carolina. November 2–4, 2006.
“Supreme Court Decisions on Citizen Suits and EPA Enforcement Activity.” Presented at Association of Private Enterprise Educators annual meeting, Las Vegas, Nevada. April 2–4, 2006.
“Teaching Social Coordination Problems through Simulations.” Presented at the Austrian Scholars Conference, Ludwig von Mises Institute, Auburn, Alabama. March 16–18, 2006.
“Medical Information and Bureaucracy: F.A. Hayek and the Use of Medical Knowledge.” Presented at the Austrian Scholars Conference, Ludwig von Mises Institute, Auburn, Alabama. March 17–19, 2005.
“Economics and Social Cooperation.” Seminar presentation, Prague University of Economics, Prague, Czech Republic. April 5–9, 2004.
“Calvinism Meets Austrian Economics: The Work of Frederick Nymeyer.” Presented at the Austrian Scholars Conference, Ludwig von Mises Institute, Auburn, Alabama. March 18–20, 2004.
“Stewardship and the Price System: Faith, Markets, and the Attempt to Value Nature.” First Annual Lou Church Memorial Lecture in Religion and Economics, Austrian Scholars Conference, Auburn, Alabama. March 13–15, 2003.
“Binary Economics: Paradigm Shift or Cluster of Errors?” Presented at the Austrian Scholars Conference, Ludwig von Mises Institute, Auburn, Alabama. March 13–15, 2003.
“Stewardship without Prices and Private Property? Modern Evangelical Environmentalism’s Struggle to Value Nature.” Presented at the “Christianity and Economics” Lilly National Research Conference, Baylor University, Waco, Texas. November 7–10, 2002.
“Austrians and Solutions to Every-Day Politics.” Presented at the Scholarship of Liberty Conference, Ludwig von Mises Institute, Auburn, Alabama. October 18–19, 2002.
“Americans’ Exported Misunderstanding of American Success: Imperialism or Capitalism?” Presented at the Austrian Seminar, Liberalni Insitut, Prague, Czech Republic. April 4, 2002.
“Ethics and the Foundation of Economics.” Presented at the Prague University of Economics, Prague, Czech Republic. April 4, 2002.
“Ethics and the Foundation of Economics.” Presented at Tomas Bata University, Zlin, Czech Republic. April 3, 2002.
“Americans’ Exported Misunderstanding of American Success: Imperialism or Capitalism?” Presented at Masaryk University, Brno, Czech Republic. April 3, 2002.
“Risk and Regulation,” Technical University of Liberec, Liberec, Czech Republic. April 2, 2002.
Participant, “Liberty and the Christian View of the Family,” Liberty Fund colloquium, Indianapolis, Indiana. September 14–17, 2000.
“Bureaucracy and the Law of Standing.” Presented at the Austrian Scholars Conference, Ludwig von Mises Institute, Auburn, Alabama. March 24–25, 2000.
“The Origin of Property Rights: A Critique of Rothbard and Hoppe on Natural Rights.” Presented at the Austrian Scholars Conference, Ludwig von Mises Institute, Auburn, Alabama. March 24–25, 2000.
“Economic Observations on Citizen Suit Provisions of Environmental Legislation.” Presented at the Duke Law School conference “Citizen Suits and the Future of Standing in the 21st Century: From Lujan to Laidlaw and Beyond,” Durham, North Carolina. March 2–3, 2000.
“On the Margins of the Austrian School: The Impact of the Christian Reconstruction Movement.” Presented at the Austrian Scholars Conference, Ludwig von Mises Institute, Auburn, Alabama. April 3–4, 1998.
Consulting
Contract Reviewer/Writer, McGraw-Hill/Irwin Publishing (2007–2012)
Economic Consultant, Wrongful Death Loss Estimation and Testimony (2006–2007)
Contract Writer, Acton Institute (1996–1998)
Selected Popular Press Publications, Media Appearances, and Blog Posts
“Local Problems, Global Problems, and Government Competence,” Townhall.com, February 4, 2016.
“Pharmaceutical Prices, Patents, and the FDA,” Mises Daily, August 17, 2015.
“Supreme Court Gets One Right: Strikes Down EPA’s Mercury Regulation,” Cornwall Alliance Blog, July 1, 2015.
“Unsustainable: Little Ways Environmentalists Waste the Ultimate Resource,” The Freeman, June 23, 2015.
“The Renewable Fuels Standard Is Bad Stewardship,” Cornwall Alliance blog, June 4, 2015.
“Why Forest Landowners Should Care about Citizen Suits,” Forest Landowner 74, no. 3, May/June 2015, pp. 30-35.
“For Three Billion People, Coal Looks Pretty Good,” Cornwall Alliance blog, April 17, 2015.
“Campus Green Initiatives,” Cornwall Alliance blog, April 2, 2015.
“A $9 Minimum Wage Doesn’t Help the Poor,” Market Process blog, February 13, 2013.
“The Economics of John Calvin,” Economics for Everybody blog, October 10, 2012.
“QE3 and Crony Capitalism,” Economics for Everybody blog, October 8, 2012.
“Is QE3 Ethical?” Economics for Everybody blog, September 19, 2012.
“Misunderstanding Markets,” Economics for Everybody blog, September 6, 2012.
“The Church’s Role in a Difficult Economy,” Economics for Everybody blog, August 30, 2012.
“Deadly Fuel Economy Standards,” Economics for Everybody blog, August 29, 2012.
“Are Free Markets Compatible with the Bible?” Economics for Everybody blog, August 22, 2012.
“Against Economic Atheism,” Economics for Everybody blog, August 20, 2012.
“New EPA Rule Threatens Coal Industry, Electricity Consumers,” Spartanburg Herald-Journal, April 8, 2012.
Interview (with E. Calvin Beisner) on “The Cost of Good Intentions,” Janet Parshall’s In the Market, aired November 1, 2011.
Interview on “Green Energy,” Richard Land Live, aired October 1, 2011.
“Comments on the Shuttle Program,” Mises Economics blog, July 15, 2011.
“DOJ Demands Laptop Password,” Mises Economics blog, July 13, 2011.
“Was the Space Shuttle Worth It?” Mises Daily, July 13, 2011.
“Henry Manne’s QJAE Paper in SSRN Top Ten,” Mises Economics blog, July 9, 2011.
“Are Market Processes Moral?” Market Process blog, May 6, 2011.
“Deadly Anti-Salt Regulations,” Mises Economics blog, May 3, 2011.
“What Capitalism Is and Is Not, and the Ten Most Common Objections to Capitalism,” Radio Free Market, September 11, 2010.
“Capping ATM Fees—A Good Idea?” Market Process blog, May 15, 2010.
“Can ‘Experts’ Determine the Correct Health Insurance Premium?” Market Process blog, February 23, 2010.
“Is Chinese Steel Hurting the US Economy?” Market Process blog, December 30, 2009.
“Brooklyn Land Seized for Basketball Arena,” Market Process blog, November 24, 2009.
“The Economics of Destutt de Tracy,” Mises Daily, November 28, 2008.
“FDA Requirements Block Effective Treatment,” Mises Economics blog, November 14, 2006.
“Profiting from Knowledge,” The Free Market 24, no. 10. November 2006. Reprinted as “Is House Flipping Sleazy?” Mises Daily, October 23, 2006.
“Will Virtual Worlds Be Taxed?” Mises Economics blog, October 19, 2006.
“Mises Credited for Phelps’s Idea,” Mises Economics blog, October 12, 2006.
“Binary Economics: Paradigm Shift or Cluster of Errors?” Mises Daily, March 18, 2006.
“Government-Enhanced Disaster,” Mises Daily, December 31, 2004.
“The Absurdity of ‘Saving Jobs,’” The Freeman 53, no. 11. December 2003.
“The Absurdity of Grad-Student Labor Unions,” Mises Daily, October 13, 2003.
“The Defense Department Sent Your House to Iraq,” Mises Daily, September 30, 2003.
“Interview with Timothy Terrell,” in Austrian Economics Newsletter, Spring 2003.
“What Evangelical Environmentalists Do Not Know about Economics,” Mises Daily, April 10, 2003.
“Mugabe’s Famine,” Mises Daily, September 16, 2002.
“Court Shreds Contracts,” Mises Daily, January 18, 2002.
“Is Digital Currency Viable?” Mises Daily, March 15, 2001.
“Stopping Government Sprawl,” The Freeman 51, no. 2. February 2001.
“Standing to Gain from Tattling,” The Freeman 50, no. 12. December 2000.
“Path Dependence and Antitrust: Review of Winners, Losers, and Microsoft,” by Stan J. Liebowitz and Stephen E. Margolis,” Mises Daily, November 9, 1999.
“The Family-Wrecking Tax,” The Free Market 15, no. 10. October 1997.