Revive the economy

This Economy Can be Revived

– April 7, 2020

My aim here is to explain what is left out by modern economic theory and the extent to which modern theory distorts our understanding of economic realities.


The Coronavirus Pandemic Is Not Exponential

– April 5, 2020

It is farcical that people who until a few weeks ago couldn’t even spell the word “exponential” – let alone explain what it meant – ran straight across this intellectually hysterical spectrum and made the opposite mistake: drawing exponential curves until they ran out of paper or whiteboards.


You Are Conserving Toilet Paper, Aren’t You?

– April 1, 2020

Never take toilet paper for granted again. Never take anything for granted again. Let’s come out of this with a new appreciation for the astonishingly productive power and humanitarianism of markets.


Is a New Renaissance Possible?

– January 3, 2020

There’s good reason to be excited for the new year. All signs point to a serious revival of the ideas that undergird a free society. AIER can lead the way.  As the end of the year approached, I received a note from a highly respected scholar and o …


That Time When the New York Times Called for a $0 Minimum Wage

– January 2, 2020

We aren’t just talking about the poor. We are talking about your sons and daughters, nephews and nieces, your disabled first grandchild who would enjoy the dignity of work instead of being forcibly excluded by state policies.


Why Is the System Rigged?

– December 13, 2019

It’s crazy season, that special time on the American calendar when aspiring candidates for the nation’s highest office try to outdo each other in an effort to attract more voters to their platforms. This time around, background support is provided by a …


How Economics Can Ruin Christmas, in a Good Way

– December 3, 2019

Some time ago, I resigned myself to the fact that economists are the wet blankets of the world. We can ruin almost any proposal and almost any situation with just a couple of analytical tools and the words “unintended consequences.” Rent control? It ca …


AIER and Giving Tuesday

– December 3, 2019

As you have noticed, the American Institute for Economic Research has enjoyed a wonderfully productive year. There are events every few days, new books every couple of weeks, one hundred or more substantial articles per month, a constant stream of visi …


You Are Harming No One or Anything by Not Spending on Black Friday

– November 28, 2019

With Black Friday upon us, here’s something important to remember: you’re not “helping the economy” by spending intemperately and making imprudent impulse purchases. You’re just… spending intemperately and being imprudent. There’s nothing inherently wr …


The Market Is a Symphony of Creation

– November 26, 2019

I just ate a delicious sandwich. It was called the blue river brisket, and it had brisket, cheddar cheese, bacon, purple slaw, garlic mayo, and barbecue sauce heated and served on a kaiser roll. With a bowl of broccoli cheddar soup, it was a perfect me …


The Great Redistribution: Who Benefits From Ruthless Capitalism?

– November 25, 2019

The two ugliest entries in America’s anti-capitalist vocabulary might be “ruthless capitalism” and “speculation.” Ruthless — or any other distasteful adjective of your choosing — capitalism is a mythical kind of heartless profit seeking where owners an …


The Demonization of Private Equity

– November 20, 2019

Labeling an entire industry as destructive and evil is detrimental to the investors, communities, and hundreds of millions of people worldwide that benefit from its activities.