History of Economic Thought

Sunday, August 18th, 2019

Economics as a science began to take shape in the late Middle Ages as theologians began to come to terms with laws operating within the material world to enhance human well being. 

Friday, August 16th, 2019

The anti-capitalist ideology of southern slaveholders presents a conundrum for historians who erroneously equate the plantation economy with the free market.

Thursday, August 15th, 2019

Bagehot would certainly not qualify as very libertarian — even though his contemporary raging in favor of free trade, unregulated banking, and minimum government might suggest so.

Tuesday, August 6th, 2019

The founder of The Nation magazine would have completely rejected the Green New Deal as a socialist and illiberal disaster. 

Friday, August 2nd, 2019

Smith demonstrated that if you really want to help other people, especially poor people, you need to support the growth of commercial society all over the globe.  

Wednesday, July 31st, 2019

Milton Friedman was the very model of a careful thinker, a first-rate scholar, and a clear communicator. He left an intellectual and institutional legacy that will be often imitated but likely never equaled. Our world is better because he was with us.

Tuesday, July 30th, 2019

Despite the Washington Post's claims of a transatlantic friendship, there's no evidence that Abraham Lincoln even knew - or cared - who Karl Marx was.

Monday, July 29th, 2019

Yoram Hazony’s call for a conservative traditionalism supported by government through enforced public schooling and political propagandizing in the public square for developing “honorable” conduct among the citizenry is another variation on the collectivist and statist theme.

Monday, July 22nd, 2019

It's one of the great ironies of intellectual/political history how the Left and Right blend into a single oppositional force to the free society.

Thursday, July 18th, 2019

Simon Newcomb’s conclusions, after a century and a half more of failed government interferences of almost every imaginable form and type, stand as even more reasonable than when he penned them: those in government should simply leave people alone.

Saturday, July 6th, 2019

Until we can reclaim the broad term of liberalism — and the assertion that society contains within itself the capacity of self-management — individualism will do just fine.

Friday, July 5th, 2019

"The idea of meritocracy requires a totalitarian state if you are going to take it seriously." ~ Stephen Davies

Saturday, June 29th, 2019

The state is the one institution in society that is not legally bound to adhere to the rules that it can legally impose, via the threat of violence, on everyone else within its jurisdiction.

Friday, June 28th, 2019

If you do not want to surrender the term “liberal” to soft collectivism, then speak of individualist liberalism rather than classical liberalism.

Monday, June 24th, 2019

This June marks the 45th anniversary of the revival of the Austrian School of Economics. During the week of June 15-22, 1974, the Institute for Humane Studies brought together about 50 people in South Royalton, Vermont to listen to a series of lectures by three of the leading figures of the, then, existing remnant of the Austrian School. The conference served as a catalyst for the rebirth of Austrian Economics over the following decades.

Friday, June 7th, 2019

Money creation was far from excessive in the 1920s. More significant factors leading to the Great Depression include the monetary contraction that began in 1929 and the French repatriation of gold that started in 1927.

Thursday, June 6th, 2019

When Professor Stiglitz says that his neo-socialism is the only alternative to the failed neo-liberalism of our time, he is merely saying: let me impose upon you the economic planning schemes that I consider the good, fair, and just ones for you, in place of those other command-economy coercers who want to take you down “wrong” collectivist paths compared to mine.

Wednesday, May 29th, 2019

The video AIER is putting together with the highest professional standards seeks to present both their views fairly and accurately but in a way that it is entertaining and informative. It will inspire further study and a real dedication to ideas.

Tuesday, May 28th, 2019

Because economics is more complex than most of what’s studied in the natural sciences, no set of rules of inquiry will ever fully eliminate the need for judgment calls by the researcher. And judgment calls are where our biases truly have teeth.