Utopia, you are standing in it!

Celebrating humanity's flourishing through the spread of capitalism and the rule of law

The importation of socialism into the Third World, even in the relatively non-violent form of Congress-Party Fabian-Gandhism, unintentionally stifled growth, enriched large industrialists, and kept the people poor.  Malthusian theories hatched in the West were put into practice by India and especially China, resulting in millions of missing girls.  The capitalist-sponsored Green Revolution of dwarf …

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This is not so much sustainability in the use of particular resources — for particular goods fall in and out of favour according to supply and demand factors — but sustainability of high economic growth and high standards of living in the economically developed, capitalist economies. Take, as an example, the transition in the market …

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Observed Spurious Relationship Reason for Relationship (the Third Variable) Amount of ice cream sold and deaths by drownings (Moore, 1993) Season: Ice cream sales and drownings tend to be high during the warm months of the year Ministers’ salaries and price of vodka Area (i.e., urban or rural): In urban areas, prices and salaries tend …

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The world trade system is a growing assortment of discriminatory trade agreements known as the ‘spaghetti bowl’ for reasons that the diagram of regional trade agreements (RTAs) in the Western Hemisphere makes clear. Preferential trade agreements are the correct name for the political spin masters call free trade agreements or regional trade agreements. A preferential …

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this recession had got a lot worse, we would have seen two major changes: much more government intervention in the economy, and a lot more concentration in economics in trying to understand what went wrong. Assuming I’m right and, fundamentally, the recession is over—a severe recession but maybe not much greater than the 1981 recession, …

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James Buchanan was a classical liberal who admired the Swedish welfare state because it was based on the principle of generality.   Under Buchanan’s generality norm, governments impose uniform regulation and use flat rate taxes on uniform tax bases to fund an equal-per-head demogrant (or a guaranteed minimum income) to replace all existing government cash …

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Originally posted on U.S. Economic Snapshot:
by Zach Bethune, Thomas Cooley, Espen Henriksen, and Peter Rupert Is Europe about to repeat Japan’s lost decade? Six years after the Great Recession began, the Euro area has shown little sign of sustained growth.  Japan’s so called lost decade began in 1991 after several decades of rapid economic…

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Originally posted on Economics for public policy:
[ This post is a book review of: Gregory Clark (with Neil Cummins, Yu Hao, and Daniel Diaz Vidal and others), 2014. The Son Also Rises: Surnames and the History of Social Mobility. Princeton and Oxford: Princeton University Press. ] The Son Also Rises forcefully advances the idea…

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