Topic: Economic History

Wait, So We Now Can’t Say ‘Human Capital’?

– May 27, 2020

“How a casual reference to a common and widespread conceptual tool from economics can be contorted into a conspiratorial design for malice by persons who present themselves as intellectual elites but lack familiarity with the subjects of their frenzied imaginations.” ~ Phil Magness


The Guns of August: A Look Back at the Financial Shock of the Great War

– May 24, 2020

“Many of the extraordinary policies we see governments wielding right now are not as unprecedented as some commentators may think.” ~ Joakim Book


Stay-at-Home Orders and the Willingness to Stay Home

– May 17, 2020

It has become common, in times of crisis, to ask: what will the government do to fix this? And there is certainly a lot that state and federal governments can do. The lesson I hope we will learn from this pandemic, however, is that there is much that can be accomplished locally as well.


Herbert Spencer on Equal Liberty and the Free Society

– April 24, 2020

The world in which we presently live, unfortunately, demonstrates that we are still far from fully being those human beings developed in their character and senses of right and wrong to properly understand and defend our own freedom and that of others, as well.


The 100-Day Disaster that Befell America

– April 10, 2020

It took only 100 days to asphyxiate the world economy and the suggestion of possible sickness to render a nation once characterized by rugged individualism, personal liberty, bravery and industry into house-bound milksops.


What Is the Macroeconomic Analog to Coronavirus Panic?

– March 29, 2020

All leaders, not just generals, tend to fight the last “war.” All readers of Hayek know why: they feel compelled to promulgate a response but lack sufficient information to make optimal decisions.


Not Losing Sight of the Classical Liberal Ideal

– January 6, 2020

We should be concerned with truth and validity, not the expediency of to what democratic public opinion seems to confine discussion of a free society at a moment in time.


New Ideas are the Key to Economic Development

– December 21, 2019

For all our progress, it is important to remember that critics and regulators have still won a lot of battles. They could win more.


What’s the Difference Between Michael Burry and Alexander Fordyce?

– November 13, 2019

Being correct about events in financial markets requires you to be qualitatively correct about the direction — the “what” — as well as financing your errors about the “when.”


Wealth Inequality: It’s Complicated

– October 30, 2019

In the debates over wealth inequality that have followed the publication of The Triumph of Injustice (authored by Emmanuel Saez and Gabriel Zucman), there have been intense discussions of the methodological choices made in the book. There have been few …


The Rise of Edinburgh, Financial Empire

– October 28, 2019

The city of money no longer includes the best, the largest, or the most innovative banks, but finance still runs deep in Edinburgh’s blood.


The State Is a Greasy-Hand Tourist

– October 16, 2019

If you’ve ever been scuba diving or snorkeling, you probably know that swimmers aren’t supposed to touch the coral with their bare hands.