Yes, I do still favor it, but here is part of the problem, as I explain in my latest Bloomberg column: The simplest way for Argentina to dollarize would be to inflate the peso even more. For purposes of argument, imagine a peso inflation rate of one billion percent a year. Pesos would be worthless, […]
Why Argentina’s dollarization is likely to come in sudden, messy ways
Why Argentina’s dollarization is likely to come in sudden, messy ways
30 Nov 2023 Leave a comment
in budget deficits, business cycles, currency unions, development economics, fiscal policy, growth disasters, macroeconomics, monetary economics Tags: Argentina, dollarisation
Claim: The Cuban Economy is a Model for Successful Green Degrowth
28 Nov 2023 Leave a comment
in development economics, energy economics, environmental economics, global warming, growth disasters, Marxist economics
Green British academic pushing a non GDP measure of social progress which gives a high score to Cuba.
Claim: The Cuban Economy is a Model for Successful Green Degrowth
Follow the Climate Money Updated
28 Nov 2023 Leave a comment
in development economics, energy economics, environmental economics, global warming, growth disasters
Why climate-finance ‘flows’ are falling short of $100bn pledge is an informative article from CarbonBrief. Excerpts below in italics followed by a comment from Bjorn Lomborg. One of the biggest and most contentious issues in climate politics is the provision of money to help poorer countries cut emissions and protect themselves from climate impacts. In […]
Follow the Climate Money Updated
Freer Indian reservations prosper more
28 Nov 2023 Leave a comment
in applied price theory, comparative institutional analysis, development economics, growth disasters, growth miracles
Several disciplines in social sciences have shown that institutions that promote cooperation facilitate mutually beneficial exchanges and generate prosperity. Drawing on these insights, this paper develops a Reservation Economic Freedom Index that classifies institutions on a sample of Indian reservations concerning whether these intuitions will enhance the prosperity of Indians residing on these reservations. The…
Freer Indian reservations prosper more
Pro Dollarization
25 Nov 2023 Leave a comment
in development economics, growth disasters, monetary economics
With President Milei’s election in Argentina, dollarization is suddenly on the table. I’m for it. Here’s why. Why not? A standard of valueStart with “why not?” Dollarization, not a national currency, is actually a sensible default. The dollar is the US standard of value. We measure length in feet, weight in pounds, and the value of…
Pro Dollarization
A Libertarian Landslide in Argentina
21 Nov 2023 Leave a comment
in development economics, economic history, growth disasters, liberalism, libertarianism, macroeconomics, Marxist economics, monetary economics Tags: Argentina, dollarisation
After a libertarian candidate took first place in Argentina’s presidential primary back in August, I wrote that the runoff would be the most important election of 2023 (even more important than the fortunately failed referendum to weaken TABOR in Colorado). Amazingly, Argentinian voters opted for the libertarian by a strong 56-44 margin. To understand President-Elect […]
A Libertarian Landslide in Argentina
South Africa’s Economy: 30 Years Since Apartheid
21 Nov 2023 Leave a comment
in development economics, economic history, growth disasters Tags: South Africa
In April 1994, almost 30 years ago, Nelson Mandela was elected as the first black president of South Africa. The hopes at the time went beyond developing a representative political process, and included the idea that policies of inclusive growth would raise the standard of living for whose who had been excluded. How is that…
South Africa’s Economy: 30 Years Since Apartheid
Quantity theory of money, or fiscal theory of the price level?
16 Nov 2023 Leave a comment
in defence economics, development economics, economic history, growth disasters, history of economic thought, law and economics, macroeconomics, monetary economics, property rights Tags: monetary policy, Somalia
The rebel-controlled Yemeni rial is made up entirely of a fixed supply of notes printed prior to 2016. In the chart below you can see it appreciating in value (the blue line) against the dollar, issued by the world’s most powerful state. pic.twitter.com/vioXHmz2wQ — John Paul Koning (@jp_koning) November 15, 2023
Quantity theory of money, or fiscal theory of the price level?
India To Increase Coal Production By 60%
16 Nov 2023 Leave a comment
in development economics, energy economics, environmental economics, global warming, growth disasters, growth miracles
By Paul Homewood Emperor Wind may have no clothes, but King Coal carries on regardless! New Delhi: The Union coal ministry on Monday announced plans to increase India’s coal production to 1.404 billion tonne by 2027, with an eye to further boost it to 1.577 billion tonne by 2030. Current domestic […]
India To Increase Coal Production By 60%
Reflections on the TCU Capitalism versus Socialism Debate
08 Nov 2023 Leave a comment
in applied price theory, applied welfare economics, comparative institutional analysis, constitutional political economy, development economics, economic growth, economic history, economics of bureaucracy, growth disasters, growth miracles, income redistribution, industrial organisation, labour economics, law and economics, liberalism, libertarianism, Marxist economics, poverty and inequality, privatisation, property rights, Public Choice, public economics Tags: economics of socialism, Sweden
Two days ago at Texas Christian University, I debated Scott Sehon, chair of Bowdoin College’s Philosophy Department, on Capitalism versus Socialism. (Video forthcoming eventually). My opening statement was a slight variation on the one I wrote for an earlier debate on the same topic with Elizabeth Bruenig. Sehon’s opening statement was adapted from his Socialism:…
Reflections on the TCU Capitalism versus Socialism Debate
07 Nov 2023 Leave a comment
in development economics, economic history, economics of education, growth disasters, growth miracles, human capital, labour economics
South Africa’s Slow, Inevitable March Towards Collapse
04 Nov 2023 Leave a comment
in development economics, economic history, economics of crime, energy economics, entrepreneurship, growth disasters, growth miracles, human capital, income redistribution, industrial organisation, labour economics, labour supply, law and economics, poverty and inequality, Public Choice, public economics, urban economics Tags: South Africa
Book Review: Race and Culture by Thomas Sowell
29 Oct 2023 Leave a comment
in applied price theory, development economics, discrimination, economic history, gender, growth disasters, growth miracles, human capital, labour economics, labour supply, law and economics, Marxist economics, minimum wage, occupational choice, politics - USA, property rights, Public Choice, Thomas Sowell
Thomas Sowell is a skilled writer with a powerful ability to combine historical, social science and free-market perspectives. He cuts through the noise and doesn’t mince his words on the sensitive topics of race and culture. In Race and Culture Sowell argues against two common social science doctrines: 1) that all races are equal and […]
Book Review: Race and Culture by Thomas Sowell
Which Is Better: Capitalism or Socialism?
25 Oct 2023 Leave a comment
in applied price theory, applied welfare economics, comparative institutional analysis, constitutional political economy, development economics, economic history, growth disasters, growth miracles, history of economic thought
Here is debate audio for last week’s Capitalism versus Socialism Debate at TCU. Scott Sehon was a fine opponent, in the same league as John Marsh. Enjoy!P.S. Thanks again to Rob Garnett and Sam Arnold for hosting.
Which Is Better: Capitalism or Socialism?
David D. Friedman: The Machinery of Freedom, Education, and India
16 Oct 2023 Leave a comment
in David Friedman, development economics, economic history, economics of crime, growth disasters, growth miracles, history of economic thought, law and economics, liberalism, libertarianism, property rights
Utopia, you are standing in it! 
Recent Comments