An excerpt from the conclusion of *Unbeatable*
A Friendly Appeal to the Unconvinced
A Friendly Appeal to the Unconvinced
14 May 2026 Leave a comment
in applied price theory, comparative institutional analysis, constitutional political economy, development economics, economic history, liberalism Tags: The Great Enrichment
Bonus Quotation of the Day…
13 May 2026 Leave a comment
in applied price theory, economic history, entrepreneurship, history of economic thought, industrial organisation, survivor principle Tags: industry policy
Tweet… is from page 8 of Scott Lincicome’s and Huan Zhu’s superb September 2021 paper, “Questioning Industrial Policy: Why Government Manufacturing Plans Are Ineffective and Unnecessary”: A core part of industrial policy’s knowledge problem is timing: because markets and personal preferences are constantly evolving, the facts (products, investments, supply and demand, etc.) on which an…
Bonus Quotation of the Day…
The Great Enrichment
12 May 2026 Leave a comment
in development economics, economic history, growth disasters, growth miracles Tags: The Great Enrichment
Quotation of the Day…
10 May 2026 Leave a comment
in economic history, Thomas Sowell
Tweet… is from page 407 of the 2016 second edition of Thomas Sowell’s excellent volume Wealth, Poverty and Politics: Monstrously appalling things done by some peoples to others darken the history of every region on the planet, but descendants of peoples guilty of the worst or most extensive villainies of the past are by no…
Quotation of the Day…
The economics of castles
10 May 2026 Leave a comment
in applied price theory, comparative institutional analysis, defence economics, economic history
When I’m in Britain or Ireland, one of my favourite sightseeing trips is to visit medieval castles. Even the ruined ones are fun to visit. Actually, maybe the ruined ones are more fun to visit, because you get to imagine what they would have looked like in their heyday. Britain and Ireland are full of castles,…
The economics of castles
Grow the Pie, Skip the Sermon
08 May 2026 Leave a comment
in Adam Smith, applied price theory, comparative institutional analysis, economic history, health economics, history of economic thought, liberalism, Marxist economics
In a recent Substack essay, “The progress movement needs a better theory of progress,” Brink Lindsey argues that the progress movement has settled for too thin a vision. It focuses on wealth creation and technological advance, he says, when it should adopt a “fuller conception of progress”—one that promotes “spiritual welfare” and thicker accounts of…
Grow the Pie, Skip the Sermon
Do Market Reforms Cause Growth?
08 May 2026 Leave a comment
in applied price theory, development economics, econometerics, economic growth, economic history, history of economic thought, labour economics, macroeconomics, unemployment
Do market-oriented reforms cause economic growth? This paper revisits this question using a cross-country panel of reform episodes identified from various changes in well-known economic freedom and structural reform indices. We exploit the timing of reforms using distributed-lag and event-study frameworks that trace the dynamic response of per-capita GDP. We find little evidence of immediate…
Do Market Reforms Cause Growth?
Forthcoming – Cuban Infant Mortality and Longevity: Health Care or Repression?
05 May 2026 Leave a comment
in economic history, economics of regulation, health economics, Marxist economics, transport economics Tags: Cuba, life expectancies
I have received news that a short article submitted to Health Policy & Planning has been accepted for publication. In the article, I argue that the statistics regarding Cuba’s health care are distorted by the incentives generated by the target system under which physicians must operate (at the threat of penalties). To meet their targets, they re-categorize […]
Forthcoming – Cuban Infant Mortality and Longevity: Health Care or Repression?
China Shock 2.0 vs. China Shock 1.0
04 May 2026 Leave a comment
in applied price theory, development economics, econometerics, economic history, growth miracles, history of economic thought, industrial organisation, international economics, survivor principle Tags: China, free trade
TweetThis post by Oxford economist J. Zachary Mazlish is very good; I encourage you to read it. (HT David Levey) Nevertheless, there are two points that I think to be worth making in response to Mazlish’s post. I will here make one of these points. I’ll make the other of these points in a follow-up…
China Shock 2.0 vs. China Shock 1.0
The United States vs. Europe, Part V
03 May 2026 Leave a comment
in applied price theory, economic growth, economic history, macroeconomics Tags: European Union
The world’s big economic policy battle is not capitalism vs. socialism. Other than a few primitive backwater nations like Cuba and North Korea, genuine socialism has largely been vanquished. Instead, the battle in most countries largely revolves around the size of the welfare state. At the risk of over-simplifying, here are the three choices. Should […]
The United States vs. Europe, Part V
The Reporting of Hitler’s Death
01 May 2026 Leave a comment
in defence economics, economic history, war and peace Tags: Nazi Germany, World War II
On 29 April 1945, Hitler completed his will and last political testament and married his longtime mistress, Eva Braun. He also received the news that Benito Mussolini met his death in Italy. Mussolini’s corpse, along with that of his mistress, Clara Petacci, had been smashed in fury by a mob and hung upside down outside […]
The Reporting of Hitler’s Death
African and Muslim roles in the African slave trade
01 May 2026 Leave a comment
in economic history, economics of crime, labour economics, labour supply, law and economics Tags: economics of slavery
The False Simplicity of Blaming “the West” Alone for the African Slave Trade On March 25, 2026, the UN General Assembly adopted a controversial resolution declaring the transatlantic slave trade and racialized chattel enslavement of Africans as the “gravest crime against humanity,” championed by Ghana on behalf of the African Union. The resolution, passed with 123 votes […]
African and Muslim roles in the African slave trade
Pandemics
30 Apr 2026 Leave a comment
in economic history, health economics Tags: economics of pandemics
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
Dachau Liberated
29 Apr 2026 1 Comment
in defence economics, economic history, economics of crime, law and economics, laws of war, war and peace Tags: Nazi Germany, The Holocaust, World War II
Dachau was the first concentration camp built by the Nazis. It opened on 22 March 1933. Twelve years, one month and one week later, the US Forces liberated the camp. The troops were horrified by what they saw. Below are just some testimonies. A letter by Sgt. Horace Evers Dearest Mom and Lou, Just received […]
Dachau Liberated
Utopia, you are standing in it! 
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