A few months ago, a high school econ student asked me to zoom with his class. I’m working against a tight deadline for Blockade, so I was inclined to decline. But the student’s list of questions was so ambitious that I decided to make the time. See for yourself:Here is the plan:- 5 minutes -WELCOME…
Economics is Counter-Emotional, Not Counter-Intuitive
Economics is Counter-Emotional, Not Counter-Intuitive
30 Apr 2026 Leave a comment
in applied price theory, comparative institutional analysis, constitutional political economy, economics of education, economics of information, history of economic thought, Public Choice
How Reform Happens
30 Apr 2026 Leave a comment
in applied price theory, comparative institutional analysis, constitutional political economy, development economics, econometerics, economic history, economics of bureaucracy, growth disasters, growth miracles, history of economic thought, Public Choice
What determines whether and how regulations are reformed? We use a newly constructed data set of 3,590 successful and failed regulatory reforms in 189 countries, between 2005 and 2022, to address this question. We document that regulations have become more business friendly in some regulatory domains but not others. We also show that regulations are…
How Reform Happens
A discussion about Anti-Capitalism and “Public Health”
15 Apr 2026 Leave a comment
in applied price theory, comparative institutional analysis, economics of regulation, health economics, liberalism, Marxist economics Tags: nanny state, regressive left
I spoke to my friends at the Sloavkian think tank INESS (the Institute of Economic and Social Studies) recently. We talked about my 2025 paper Anti-Capitalism and Public Health and you can watch the video below.
A discussion about Anti-Capitalism and “Public Health”
Wealth Is Not a Fixed Pie
27 Mar 2026 1 Comment
in applied price theory, behavioural economics, comparative institutional analysis, constitutional political economy, development economics, growth disasters, growth miracles
One of the most destructive myths in economics is the zero-sum fallacy. Back in 2018, I shared a cartoon that sought to debunk the notion that one person getting richer meant another person had to be poorer. But I wasn’t satisfied with the cartoon, so I offered a modified version. But I still didn’t think […]
Wealth Is Not a Fixed Pie
Defining Socialism
26 Mar 2026 1 Comment
in applied price theory, comparative institutional analysis, development economics, economic history, economics of regulation, history of economic thought, liberalism, Marxist economics
I’ve written a four-part series (here, here, here, and here) explaining why socialism is a bad idea, but let’s use today’s column to define this evil ideology. As I mentioned in the video, genuine socialism is based on three very specific concepts. Government ownership of the means of production Central planning to determine the allocation […]
Defining Socialism
Strategic overhangs and ways to prevent them in MMP systems
23 Mar 2026 Leave a comment
in comparative institutional analysis, constitutional political economy, politics
In mixed-member proportional (MMP) electoral systems, an “overhang” seat can result if a party wins more seats via the nominal tier (of, typically, single-seat districts) than it would be entitled to if a regular proportional-representation (PR) systems were used.
Strategic overhangs and ways to prevent them in MMP systems
Cost Overruns Are Bad for Taxpayers, Good for Insiders
14 Mar 2026 Leave a comment
in applied price theory, comparative institutional analysis, economics of bureaucracy, entrepreneurship, industrial organisation, managerial economics, market efficiency, organisational economics, Public Choice
My First Theorem of Government is the simple observation that insiders are the biggest beneficiaries of government. I was motivated to release that theorem because bad news for taxpayers is good news for bureaucrats, consultants, contractors, lobbyists, and politicians. A classic example is the Department of Education in Washington, which has squandered more than $2.6 […]
Cost Overruns Are Bad for Taxpayers, Good for Insiders
Covid-19 Royal Commission report released
10 Mar 2026 Leave a comment
in Alfred Marshall, comparative institutional analysis, economics of bureaucracy, economics of natural disasters, economics of regulation, health economics, politics - New Zealand, Public Choice Tags: economics of pandemics
The Royal Commission has released their second and final report. Some key aspects: Simeon Brown points out: The post Covid-19 Royal Commission report released first appeared on Kiwiblog.
Covid-19 Royal Commission report released
The Wealth of Nations: Happy 250th Birthday!
09 Mar 2026 Leave a comment
in Adam Smith, applied price theory, comparative institutional analysis, development economics, economic history
TweetIn today’s National Post I celebrate the 250th anniversary – which is this coming Monday, March 9th – of the publication of Adam Smith’s An Inquiry Into the Nature and Causes of the Wealth of Nations. A slice: Smith then inquired into wealth’s causes. He didn’t inquire into the causes of poverty. Smith understood that…
The Wealth of Nations: Happy 250th Birthday!
Dismantling the competition myth
06 Mar 2026 Leave a comment
in Austrian economics, comparative institutional analysis, economic history, economics of regulation, entrepreneurship, history of economic thought, industrial organisation, law and economics, organisational economics, politics - Australia, technological progress, theory of the firm Tags: competition law, creative destruction
Ask anyone in Australia’s competition law community what transformed the economy, and you will hear a familiar story. Australia was once a cartelised, complacent place where businesses divided up markets and consumers paid the price. Then came the Trade Practices Act in 1974, and competition law forced firms to compete. This is not a fringe […]
Dismantling the competition myth
The Evaluative Emptiness of the Economic Approach to Law
04 Mar 2026 Leave a comment
in applied price theory, applied welfare economics, comparative institutional analysis, history of economic thought, law and economics, Public Choice
Law & economics traces its intellectual roots to the University of Chicago. That lineage still shapes how the field is understood. Chicago price theory—especially Gary Becker’s (1976) systematic application of maximization, equilibrium, and stable preferences across social life, and George Stigler’s (1992, p. 459) suggestion that “every durable social institution or practice is efficient, or…
The Evaluative Emptiness of the Economic Approach to Law
Bet On It Book Club: For a New Liberty, Chapter 4
02 Mar 2026 Leave a comment
in applied price theory, Austrian economics, comparative institutional analysis, economics of bureaucracy, industrial organisation, law and economics, liberalism, Murray Rothbard, privatisation, Public Choice
Update: I’m doing a Substack Live today on You Have No Right to Your Culture with the Boyd Institute’s Peter Banks. 4 PM ET.SummaryThis is the shortest chapter of the book, just six pages long. Rothbard makes a laundry list of what he calls “the major problem areas of our society” and argues that government…
Bet On It Book Club: For a New Liberty, Chapter 4
The Party Dominated Economy, Part 2
27 Feb 2026 Leave a comment
in applied price theory, comparative institutional analysis, constitutional political economy, industrial organisation, politics - USA
The NY Times realizes that Trump is not a free market capitalist
The Party Dominated Economy, Part 2
The Rise and Fall (and Rise) of Sweden, Part III
10 Feb 2026 Leave a comment
in applied price theory, comparative institutional analysis, constitutional political economy, economic growth, economic history, economics of regulation, fiscal policy, income redistribution, industrial organisation, labour economics, labour supply, macroeconomics, Public Choice, public economics Tags: Sweden
Based on a video from the Center for Freedom and Prosperity back in 2010, as well a video from Johan Norberg I shared in 2016, there’s a lot to learn by looking at Swedish economic history. Here’s a more recent video that also looks at that nation’s economic track record. You’ll notice a similar message […]
The Rise and Fall (and Rise) of Sweden, Part III
Colonialism, Slavery, and Foreign Aid (with William Easterly) 12/8/25
01 Feb 2026 1 Comment
in applied price theory, comparative institutional analysis, constitutional political economy, development economics, economic history, growth disasters, growth miracles, history of economic thought, labour economics, labour supply, law and economics, property rights Tags: age of empires, economics of colonialism, economics of slavery
Utopia, you are standing in it! 
Recent Comments