Rainer Zitelmann writes in How Capitalism Beat Communism in Vietnam in Reason Magazine, The state collectives did not reward members for the amount of rice they produced, but instead counted how many days they had worked. 183 more words
Incentive Misalignment in Communism: the case of Vietnam
Incentive Misalignment in Communism: the case of Vietnam
15 Aug 2026 Leave a comment
in applied price theory, development economics, economic history, growth disasters, history of economic thought, industrial organisation, labour economics, labour supply, Marxist economics Tags: economics of central planning, Vietnam
Further progress in South America
08 Aug 2026 Leave a comment
in development economics, economic history, growth disasters, growth miracles, health economics Tags: The Great Escape
The share of people who are hungry has been decreasing faster in South America than anywhere else in the world. It is down by one-third since 2020, according to a report published on July 21st by the UN’s Food and Agriculture Organisation (FAO). Just 3.5% of people in the region consume insufficient calories, the lowest…
Further progress in South America
The population bust
05 Aug 2026 Leave a comment
in development economics, economic history, labour economics, labour supply, population economics
Trump is Right to Take On the Climate Litigation Complex
29 Jul 2026 1 Comment
in applied welfare economics, development economics, economics of bureaucracy, economics of climate change, economics of education, energy economics, environmental economics, environmentalism, global warming, politics - USA, Public Choice, rentseeking Tags: climate alarmism
Whatever one makes of President Trump’s chosen words, the underlying demand – that a body claiming the authority of disinterested science should actually be disinterested – is one any serious defender of scientific integrity ought to be able to endorse. Surely the most litigated-against President in US history is right in ensuring that judges overseeing…
Trump is Right to Take On the Climate Litigation Complex
The common sense of Fareed Zakaria
28 Jul 2026 Leave a comment
in labour economics, development economics, macroeconomics, economic growth, economic history, fiscal policy, unemployment
This is one of the best Op-Eds you will read this year, though it deliberately deemphasizes the personal (no one is attacked) in a manner that will result in less attention. Better to write the truth! Excerpt: Why has this [voter discontent} happened? Some of it is economic. Expensive housing, stagnant incomes and widening inequality have fueled public…
The common sense of Fareed Zakaria
Fixing Argentina’s Punitive Tax System
20 Jul 2026 1 Comment
in applied price theory, Austrian economics, development economics, economic growth, economic history, fiscal policy, growth disasters, macroeconomics Tags: Argentina
Almost exactly one year ago, the Center for Freedom and Prosperity released this short video as part of a series on the additional reforms Javier Milei should implement to maximize Argentinian prosperity. Let’s take a closer look at the country’s tax policy, and I’ll start today’s column with an analogy. When Milei took office, Argentina […]
Fixing Argentina’s Punitive Tax System
Is Progress Sustainable? Mokyr’s Nobel Lecture
18 Jul 2026 1 Comment
in applied price theory, development economics, economic growth, economic history, entrepreneurship, history of economic thought, macroeconomics
“Progress” is a word that often generates both a lot of positive vibes, and also a lot of pushback? Progress toward what? At what cost? So it’s perhaps useful to specify that when I refer to “progress,” I’m referring to an overall movement toward good things of life: in no particular order, longer and healthier…
Is Progress Sustainable? Mokyr’s Nobel Lecture
Missing women on Indian streets
09 Jul 2026 Leave a comment
in applied price theory, development economics, discrimination, econometerics, economics of crime, gender, growth miracles, law and economics Tags: sex discrimination
How absent are women from city streets in the developing world? We answer this question using GPS-linked wearable cameras and randomized street audits across ~900 kilometers of roads in greater Mumbai. Across 4000+ street images containing 23,000+ visible person observations, women account for 16.4% of visible people in Mumbai and 14.7% in Navi Mumbai, far…
Missing women on Indian streets
Slow Growth: Mexico Edition
23 Jun 2026 Leave a comment
in development economics, economic history, economics of bureaucracy, economics of regulation, labour economics, Public Choice Tags: Mexico
For the last eight years or so, going back before the pandemic, Mexico’s economy has been growing at 1% per year or less, which is barely faster than the population of Mexico has been growing. It is a fact of arithmetic that an upper-middle-income country, as Mexico is classified by the World Bank, will not…
Slow Growth: Mexico Edition
Ancient Clay Tablets Show Markets Worked 4,000 Years Before Economists Explained Them
21 Jun 2026 Leave a comment
in applied price theory, Austrian economics, development economics, economic history, history of economic thought, international economics, law and economics, property rights
Clay tablets unearthed in Asia Minor reveal a sophisticated commercial order emerging spontaneously nearly four thousand years before economists explained how markets work. By Surse Pierpoint of The American Institute for Economic Research.”A clay tablet from Kanesh, in what is now central Turkey, contains the founding charter of a twelve-partner trading company. Twelve merchants pooled thirty-three…
Ancient Clay Tablets Show Markets Worked 4,000 Years Before Economists Explained Them
Caplan-Jones UATX Debate Video
17 Jun 2026 Leave a comment
in applied price theory, Austrian economics, development economics, labour economics, labour supply, law and economics, liberalism, libertarianism, politics - USA Tags: economics of immigration
Here’s the full video from my recent immigration debate at UATX with Garett Jones. Coleman Hughes moderates. (A great guy, and not only did we finally meet in person for dinner; he also came to UATX karaoke!) Here are more debate details from the UATX Substack. I’ve got multiple post-debate commentary essays in my queue,…
Caplan-Jones UATX Debate Video
Watermelon Economics
16 Jun 2026 Leave a comment
in development economics, fiscal policy, human capital, income redistribution, labour economics, labour supply, macroeconomics, poverty and inequality, Public Choice Tags: development aid, regressive left, taxation and entrepreneurship, taxation and investment, top 1%
Remember Thomas Piketty, the pro-class-warfare economist who is infamous for shoddy analysis and who also made a fool of himself by asserting back in 2023 that Javier Milei’s election in Argentina would lead to economic disaster? Yes, that Thomas Piketty. It turns out he’s also a “watermelon,” which is the derisive term for leftists who […]
Watermelon Economics
Greg Ip Is Mistaken Again About U.S. Trade Deficits
15 Jun 2026 Leave a comment
in applied price theory, development economics, growth miracles, history of economic thought, industrial organisation, international economics, politics - USA Tags: free trade
TweetHere’s a letter to the Wall Street Journal. Editor: Writing about U.S. trade deficits, Greg Ip declares that “by exporting so much, China effectively forces its trading partners to run deficits” (“The Global Economy Is Threatened Again by Trade Imbalances,” June 12). Wrong. U.S. trade deficits occur whenever foreigners sell more to us than they…
Greg Ip Is Mistaken Again About U.S. Trade Deficits
Safety and nation-building in Mexico
14 Jun 2026 Leave a comment
in development economics, economic history, economics of crime, growth disasters, law and economics Tags: economics of prohibition, Mexico
That is the topic of my latest Free Press column, here is one excerpt: Consider the special nature of Mexican politics. First and foremost, Mexico is still not a mature nation-state. By one estimate, drug gangs may control as much as one-third of its territory. That might sound bizarre, but from the standpoint of Mexican history,…
Safety and nation-building in Mexico
Piketty’s Eco-Marxist Utopia: Why Degrowth and Global Redistribution Will Trap the Poor in Poverty
13 Jun 2026 Leave a comment
in applied price theory, development economics, econometerics, economic growth, economic history, economics of climate change, economics of regulation, energy economics, environmental economics, environmentalism, fiscal policy, global warming, human capital, income redistribution, industrial organisation, international economics, labour economics, labour supply, macroeconomics, Public Choice, public economics Tags: climate activists, climate alarmism, regressive left
The world’s poor deserve better than another utopia designed for them by the globalist intelligentsia. They deserve cheap energy, open markets, secure property rights, and the freedom to industrialise on terms they choose for themselves. That is what worked in East Asia. It is what will work in South Asia, Africa and Latin America. And…
Piketty’s Eco-Marxist Utopia: Why Degrowth and Global Redistribution Will Trap the Poor in Poverty
Utopia, you are standing in it! 
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