Economic History

Friday, May 10th, 2019

Financial markets, including markets for complex instruments that may just look like speculative casino bets, allow important real transactions to occur. And in a brilliantly decentralized way, they bring into harmony people whose information, values, goals, and risk aversion differ.

Tuesday, May 7th, 2019

The unknown history of Neutral Moresnet proves that there is an inverse relationship between the size and scope of government and the potential for both peace and prosperity.

Thursday, May 2nd, 2019

Diocletian may have greatly strengthened the Roman state, but that extra strength appears not to have dented poverty, inflation, or civil war. Today the instinct to increase state power to achieve desired outcomes is thriving on both sides of the aisle.

Sunday, April 28th, 2019

The bow tie helped build the early years of Wall Street. Maybe it can assist in re-building the ethos of prosperity and success in the 21st century.

Monday, April 15th, 2019

AIER’s publishing strategy is designed to broaden the choices available to authors, never using the force of law to deny creators their rights.

Thursday, April 11th, 2019

Markets offer a powerful tool for fighting government-sanctioned racial discrimination.

Tuesday, March 26th, 2019

We need some protection from the evil eye that modern politics is working daily to unleash.

Sunday, March 24th, 2019

Behind every great innovation, there is an innovator or maybe many.

Tuesday, March 19th, 2019

Perennial illness is the default state of mankind. Markets have put human beings at the center of a dense web of affordable, effective choices to meet our needs and desires: those relating to our health are no exception.

Wednesday, February 13th, 2019

The classical liberalism of the 19th century needs to be the reborn new liberalism of the 21st century, to once more offer an ideal of individual freedom, free enterprise, impartial rule of law, and equality before the law.

Tuesday, February 12th, 2019

The notion of a moral panic is a powerful one that explains much of what goes on in popular mass media, public discussion, and, all too often, actual policy. It is a valuable intellectual tool to use to protect yourself against unwarranted and dangerous anxiety and being taken advantage of by deluded or unscrupulous hucksters.

Saturday, February 2nd, 2019

It is like a living thing in your presence. It speaks with great profundity, the erudition achieved through wordless regularity.

Wednesday, January 23rd, 2019

Economists Emmanuel Saez and Gabriel Zucman claim we need a 70% tax rate to stem inequality. Their argument derives from a misreading of U.S. tax history.

Tuesday, January 30th, 2018

What I’m suggesting here is that the divisions between these various centers of political, culture, and intellectual power are actually a good thing. I wouldn’t want anyone to win the great debates of our time. The end of division itself might be the worst possible outcome because it would imply that someone power source is now in charge. We actually don’t want anyone in charge. We want to recreate the conditions that made the West rich in the first place: tremendous diffusion of power and unending competition between all sectors of society.