Topic: Economic Education

Voters’ Incentives and Terrible Public Policy

– October 6, 2020

“In about a month, Americans will elect a new President and a new Congress. In our ideal world, they would do so by very carefully weighing the costs and benefits of different policies and choosing the combinations that they reasonably believe to be in everyone’s best interests. In the world we inhabit, though, they will go to the polls and vote enthusiastically for policies that create more common harm than common good.” ~ Art Carden

Authoritarianism, Crisis, Economic Education

If I Ruled the World: A Dangerous Dream

– October 6, 2020

“A nice fantasy for a daydreamer, but a dangerous plan in the hands of those presumptuous and arrogant enough to think that they could and should have the power to remake the world in which we all live.” ~ Richard M. Ebeling

Crisis, Economic Education, Government

A Curveball Isn’t an Existential Threat

– October 5, 2020

“Too many people over the past six months have taken leave of their senses. We, our children, and our grandchildren will long live with the consequences of this foolish panic – consequences that almost surely will inflict on humanity harms far worse than any that Covid could possibly have ever inflicted.” ~ Donald J. Boudreaux

Authoritarianism, Crisis, Economic Education, Government

Goodbye Grounded, My Favorite Coffee Bar Destroyed by Lockdowns

– October 5, 2020

“Multiply my story by the hundreds of thousands of patrons of their favorite store, bar, restaurant or coffee shop all over the City — and the hardworking owners of these establishments who poured their souls, lives, and savings into them — and you have a partial measure of the human cost, not just of Covid, but of the draconian lockdown policy and the other death-by-a-thousand-cuts regulations that have magnified its harm.” ~ Raymond C. Niles

Economic Education, Free Markets, History

Keukentafel Economics and the History of British Imperialism

– October 4, 2020

“Let’s get on with it, then: honest courts, good schooling, non-extractive governments, property rights for squatters, free international and internal trade, employment laws that do not protect only the presently employed.” ~ Deirdre McCloskey

Capitalism, Economic Education, History

The Formula for a Richer World? Equality, Liberty, Justice.

– October 3, 2020

“Ideas are not all sweet, of course. Fascism, racism, eugenics, and nationalism are ideas with alarming recent popularity. But sweet practical ideas for profitable technologies and institutions, and the liberal idea that allowed ordinary people for the first time to have a go, caused the Great Enrichment. We need to inspirit masses of people, not the elite, who are plenty inspirited already. Equality before the law and equality of social dignity are still the root of economic, as well as spiritual, flourishing—whatever tyrants may think to the contrary.” ~ Deirdre McCloskey

Economic Education, History

George Melloan, a Giant at the Wall Street Journal, Has Died

– October 2, 2020

“Melloan wrote with calm and elegant prose but underneath that smooth easy-reading style was a wonderful warrior for truth, a man with a passion for improving the world through freedom and ever evolving cascades of human achievement and dignity. How I long for that vision to come back! It seems almost extinct today on both the right and the left, and tragically so.” ~ Jeffrey Tucker

Economic Education, Free Markets

Is America in Decline?

– October 2, 2020

“America cannot be the literal Top Nation forever, nor should it be, nor does it matter. Being smart and hardworking and fulfilled are what matter, not tiny percentage differences of income between rich countries, 10 percent plus or minus. America is not declining. In the modern world, no income per head actually declines in absolute terms, unless through war or socialism.” ~ Deirdre McCloskey

Crisis, Economic Education, Monetary Policy

What Should the Fed Do Now?

– October 1, 2020

“As cities and states ease their lockdowns and restrictions, the Fed should continue to support the recovery with accommodative monetary policy. As Powell described, ‘A full economic recovery is unlikely until people are confident that it is safe to reengage in a broad range of activities.'” ~ Thomas L. Hogan

Cryptocurrency, Currency, Economic Education

Bitcoin Financial Literacy and Crypto-Twitter

– September 30, 2020

“It is sad to see an excited gambler sell their house to go all-in on a longshot, whether that be on lottery tickets or on cryptocurrencies. It is shameful to encourage such behaviors. Cryptocurrencies like bitcoin are a game. Play responsibly.” ~ J.P. Koning

Crisis, Economic Education, Free Markets

The Swedish Bumblebee

– September 30, 2020

“On economic well-being, it’s clear that a country with an invasively large government sector and extraordinarily high taxes can still perform well. In the corona debates, the simplified story that lockdowns prevent spread and open societies kill people should be relegated to the dustbin of impressive theories at odds with reality.” ~ Joakim Book

Economic Education, Government, Policy

A Plea for Checks

– September 29, 2020

“Private organizations, whether for- or nonprofit, have to be ahead of the times in order to survive in a world of cutthroat competition. (Or cabal as Smith warned.) To see what the future holds, look to businesses and nonprofits. They would be even further ahead if they did not have to constantly worry about meddling politicians coming up from behind.” ~ Robert E. Wright