Freedom’s Future Requires Understanding the Past

– December 29, 2022

“When confronted with issues regarding the necessary extent of the state, liberty-lovers need not rely solely on economic theory, nor hypotheticals, because the historical record often can light the proper path towards smaller, more-efficient government.” ~ Robert E. Wright


Risky Business: A Review

– December 22, 2022

“Risky Business will appeal to readers more interested in selection markets than in real-world insurance products, and to people with a high tolerance for ahistorical assumptions about the need for detailed insurance regulation and other government market interventions.” ~ Robert E. Wright


Henry Clay’s “American System” Is Bad News for the American Economy

– December 8, 2022

“The American System’s modern rehabilitators conveniently leave out the fact that every time it was tried in the 19th and early 20th centuries, Clay’s program unleashed a torrent of preventable policy disasters.” ~ Phillip W. Magness & James R. Harrigan


The Governmentalization of Social Affairs

– December 6, 2022

“More liberty means less government, and less government means less miserableness, servility, fickleness, hypocrisy, denial, mendacity, baseness, and degeneracy. Liberal backbone checks the evil that is the governmentalization of social affairs.” ~ Daniel B. Klein


When Lenin Read a Book on Marx

– November 29, 2022

“It is no small irony that Hobsbawm’s qualitative investigation of Marx’s dissemination and spread now finds empirical validation in the unlikeliest of sources: our econometric analysis of the Soviet revolution’s effects on Marx’s citation patterns after 1917.” ~ Phillip W. Magness


Bank and Crypto Runs: F(ac)TX vs Fiction

– November 25, 2022

“Despite the historical record, ever since Diamond and Dybvig published their article, many if not most economists have tended to view every financial firm collapse as a ‘Diamond Dybvig Moment.'” ~ George Selgin


Can We Have Welfare Without the Threat of Violence?

– November 17, 2022

“The mutual aid sector is due for a renaissance. It might seem radical, but charity and mutual aid systems create more trust, engender more integrity, and offer greater responsibility.” ~ Max Borders


Das Karl Marx Problem

– November 16, 2022

“How do we reconcile the decisive and early rejection of Marx’s economic theories after the Marginal Revolution with the high acclaim that those same theories enjoy among intellectuals today, albeit almost entirely outside of the economics profession?” ~ Phillip W. Magness & Michael Makovi


Essential Words In- And Not In- Adam Smith’s Essential Works

– November 5, 2022

“Don’t leave TMS behind when reading WN. Intricate souls the actors in WN surely are. What, after all, is the inner substance of the wealth of nations?” ~ Caleb Petitt & Daniel B. Klein


The Political History of Money

– October 21, 2022

“In The Currency of Politics, Stefan Eich has written a valuable and very interesting review of specific monetary debates in their historical settings during centuries of thought about the nature of money as it is entwined with politics.” ~ Alex J. Pollock


Getting W.H. Hutt’s Life And Work All Wrong

– October 20, 2022

“Their argument falls apart under scrutiny. The version of Hutt they present is like the version of Buchanan that MacLean presents in her book Democracy in Chains: an unrecognizable caricature.” ~ Art Carden


The Economics of Envy

– October 14, 2022

“Hatred of the rich in the name of equality was probably responsible for more death and destruction in the twentieth century than any other political passion.” ~ Theodore Dalrymple