Celebrating humanity's flourishing through the spread of capitalism and the rule of law
23 Jul 2025 Leave a comment
in applied price theory, budget deficits, comparative institutional analysis, constitutional political economy, development economics, economic growth, fiscal policy, growth disasters, growth miracles, law and economics, liberalism, libertarianism, macroeconomics, property rights Tags: Argentina
I almost feel sorry for the 108 leftist economists who predicted back in 2023 that Argentina would suffer if Javier Milei won the presidential election. Not only were they disappointed when he enjoyed a landslide victory, but the subsequent events in Argentina have shown that they were wildly wrong (all of which is discussed in […]
The Milei Miracle, Part II
11 Jul 2025 Leave a comment
in development economics, economic history, growth disasters, growth miracles, health economics Tags: India, Pakistan
04 Jul 2025 1 Comment
in applied price theory, development economics, growth miracles, international economic law, international economics, politics - USA Tags: tarrifs, Vietnam
TweetMr. Howard Lutnick Secretary, U.S. Department of Commerce Washington, DC Mr. Lutnick: Yesterday you tweeted this: Our trade deal with Vietnam is a massive win for America’s businesses, manufacturers, and farmers! For the FIRST TIME EVER, Vietnam will open its market to the United States. They will pay 20% to sell their products here, and…
Another Open Letter to Howard Lutnick
03 Jul 2025 1 Comment
in applied price theory, development economics, economics of bureaucracy, economics of education, growth disasters, growth miracles, labour economics, occupational choice, personnel economics, Public Choice Tags: India
In India, government jobs pay far more than equivalent jobs in the private sector–so much so that the entire labor market and educational system have become grossly distorted by rent seeking to obtain these jobs. Teachers in the public sector, for example, are paid at least five times more than in the private sector. It’s […]
Massive Rent-Seeking in India’s Government Job Examination System
05 Jun 2025 Leave a comment
in applied price theory, comparative institutional analysis, constitutional political economy, development economics, economic growth, economic history, growth disasters, growth miracles, history of economic thought, macroeconomics Tags: anticapitalist mentality, capitalism and freedom
Tweet The post An American Enterprise Institute Discussion of “The Triumph of Economic Freedom” appeared first on Cafe Hayek.
An American Enterprise Institute Discussion of “The Triumph of Economic Freedom”
05 Jun 2025 Leave a comment
in applied price theory, development economics, economics of bureaucracy, economics of regulation, growth disasters, growth miracles, industrial organisation, labour economics, labour supply, law and economics, property rights, Public Choice, survivor principle Tags: employment law, India
In our textbook, Modern Principles, Tyler and I contrast basic U.S. labor law, at-will employment—where employers may terminate workers for any reason not explicitly illegal (e.g., racial or sexual discrimination), without notice or severance—with Portugal’s “just cause” regime, which requires employers to prove a valid reason, give advance notice, pay severance, and endure extensive regulatory […]
No Exit, No Entry
03 Jun 2025 1 Comment
in development economics, economics of climate change, energy economics, environmental economics, environmentalism, global warming, growth disasters, growth miracles Tags: carbon tax, India
India won’t bow to carbon taxes and it won’t join an unscientific climate war that sacrifices its future. The U.K. and EU would do well to listen, lest they find themselves on the losing end of an Asian-dominated trade battle over manufactured goods.
India Rejects Carbon Tax, Backs Fossil Fuels and Trade in Defiance of Green Policies
25 Mar 2025 Leave a comment
in applied price theory, comparative institutional analysis, development economics, economic history, economics of education, growth disasters, growth miracles, human capital, income redistribution, industrial organisation, international economic law, international economics, labour economics, labour supply, occupational choice, politics - New Zealand, poverty and inequality, Public Choice, rentseeking, survivor principle Tags: India, preferential trade agreements
Chris Trotter writes – What does India want from New Zealand? Not our dairy products, that’s for sure, it’s got plenty of those. Indeed 45 percent of the Indian population are small-scale farmers, most of them running a few head of cattle – not to eat, you understand – but to milk. If it once […]
What does India want – and what is New Zealand willing to give?
20 Mar 2025 Leave a comment
in applied price theory, comparative institutional analysis, development economics, economic history, growth disasters, growth miracles Tags: overseas aid
John Cochrane recommends the Economist article Aid cannot make poor countries rich. From 2004 to 2014, foreign aid increased by 75%, but it didn’t help: 2004, William Easterly: aid was just as likely to shrink the world’s poorest economies as to help them grow. 2005, World Bank: grants and loans did not move the needle…
The Grumpy Economist on Foreign aid: “send a person a fish every day, and he forgets how to fish.”
31 Jan 2025 Leave a comment
in development economics, growth disasters, growth miracles, history of economic thought Tags: Africa
Economist: In the coming years Africa will become more important than at any time in the modern era. Over the next decade its share of the world’s population is expected to reach 21%, up from 13% in 2000, 9% in 1950 and 11% in 1800. As the rest of the world ages, Africa will become…
The capitalist revolution Africa needs
25 Jan 2025 Leave a comment
in applied price theory, comparative institutional analysis, development economics, economic history, growth disasters, growth miracles, international economics Tags: India
In the comments to my post, India has Too Few Tourists, many people worried about the food, the touts and the poverty. Many of these comments are mistaken or apply only if you are traveling to India on the cheap as an adolescent backpacker (nothing wrong with that but I suspect the MR audience is […]
How to Visit India for Normies
12 Jan 2025 Leave a comment
in applied price theory, budget deficits, development economics, economic growth, economic history, economics of regulation, entrepreneurship, fiscal policy, global financial crisis (GFC), great recession, growth disasters, growth miracles, human capital, income redistribution, industrial organisation, international economics, job search and matching, labour economics, labour supply, macroeconomics, monetary economics, poverty and inequality, Public Choice, rentseeking, survivor principle, unemployment
TweetGMU Econ alum Holly Jean Soto busts the myth of “greedflation.” Scott Lincicome identifies an interesting contrast between the facts and opinion about China. George Will decries the spinelessness of the modern U.S. Congress. A slice: The incoming president will be able, on a whim, to unilaterally discombobulate international commerce — and the domestic economy…
Some Links
10 Jan 2025 Leave a comment
in applied price theory, Austrian economics, budget deficits, business cycles, comparative institutional analysis, constitutional political economy, development economics, economic growth, economics of regulation, financial economics, fiscal policy, growth disasters, growth miracles, history of economic thought, income redistribution, international economics, labour economics, law and economics, liberalism, libertarianism, macroeconomics, Marxist economics, monetarism, monetary economics, political change, politics - USA, property rights, Public Choice, public economics, rentseeking, unemployment Tags: Argentina
It’s easy to mock economists. Consider the supposedly prestigious left-leaning academics who asserted in 2021 that Biden’s agenda was not inflationary. At the risk of understatement, they wound up with egg on their faces.* Today, we’re going to look at another example of leftist economists making fools of themselves. It involves Argentina, where President Javier […]
Left-Wing Economists Were Wildly Wrong about Javier Milei and his Libertarian Agenda for Argentina
01 Jan 2025 Leave a comment
in development economics, economic history, growth disasters, growth miracles Tags: The Great Enrichment
28 Dec 2024 Leave a comment
in development economics, growth disasters, growth miracles, history of economic thought Tags: India
I am sad to hear about the passing of Manmohan Singh at age 92. Singh was perhaps the most influential Indian policymaker in the last five decades. An Oxbridge educated trade economist, he became India’s most important technocrat in the 1980s and 1990s – occupying every top position in economic policy – finance secretary; deputy […]
Manmohan Singh, RIP
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