Freedom’s Future Requires Understanding the Past
“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
READ MORERisky Business: A Review
“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
READ MOREHenry Clay’s “American System” Is Bad News for the American Economy
“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
READ MOREThe Governmentalization of Social Affairs
“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
READ MOREWhen Lenin Read a Book on Marx
“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
READ MOREBank and Crypto Runs: F(ac)TX vs Fiction
“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
READ MORECan We Have Welfare Without the Threat of Violence?
“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
READ MOREDas Karl Marx Problem
“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
READ MOREEssential Words In- And Not In- Adam Smith’s Essential Works
“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
READ MOREThe Political History of Money
“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
READ MOREGetting W.H. Hutt’s Life And Work All Wrong
“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
READ MOREThe Economics of Envy
“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
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