The exercise of US foreign policy (along with the European Union and the United Nations) has been increasingly characterized by the use (or threat) of trade sanctions. What do we know about how such sanctions work? Gabriel Felbermayr, T. Clifton Morgan, Constantinos Syropoulos, and Yoto V. Yotov review the evidence in “Economic Sanctions: Stylized Facts…
Economics of Trade Sanctions
Economics of Trade Sanctions
26 Sep 2025 1 Comment
in applied price theory, defence economics, development economics, economic history, economics of regulation, industrial organisation, international economics Tags: trade sanctions
Local government elections 2025 for a libertarian
23 Sep 2025 Leave a comment
in economics of bureaucracy, economics of regulation, environmental economics, environmentalism, law and economics, liberalism, libertarianism, Marxist economics, politics - New Zealand, property rights, Public Choice, transport economics, urban economics Tags: housing affordability, land supply, regressive left, zoning
Libertarians don’t like local government much, generally. While some aspire for maximum devolution, similar to Switzerland, so that most government power (outside defence, foreign affairs and border control) is at the more local level, that would require a transformational constitutional change. Switzerland works because its best and brightest get concentrated at the canton level, and…
Local government elections 2025 for a libertarian
California Dems Scramble To Boost Oil Production After Running Refiners Out Of Town
22 Sep 2025 Leave a comment
in economics of climate change, economics of regulation, energy economics, environmental economics, environmentalism, global warming, politics - USA
“After years of pushing radical climate policies that punished working families, Governor Newsom is finally waking up to what Californians need, he’s now scrambling to secure the very fossil fuels he tried to eliminate,” CEO of the American Energy Institute Jason Isaac told the Daily Caller News Foundation previously. “This sudden embrace of petroleum isn’t leadership, it’s survival. California’s energy future depends on realism, not green delusions.”
California Dems Scramble To Boost Oil Production After Running Refiners Out Of Town
Better Permitting and More Building: Possible?
20 Sep 2025 Leave a comment
in applied price theory, comparative institutional analysis, economics of regulation, environmental economics, law and economics, politics - USA, property rights Tags: housing affordability, land supply, zoning
It seems natural enough, at least based on US experience, to believe that building and permitting are in a natural opposition: that is, stronger permitting means less building. Zachary Liscow has been looking for a way out of this opposition. He spells out some of his thoughts in “Reforming Permitting to Build Infrastructure” (Hutchins Center…
Better Permitting and More Building: Possible?
The United States vs. Europe, Part IV
17 Sep 2025 Leave a comment
in applied price theory, economic growth, economic history, economics of regulation, labour economics, labour supply, macroeconomics, Public Choice, rentseeking Tags: European Union
I put a lot of focus on “convergence” and “divergence” because economic theory says rich countries should not grow faster than poor countries. So when there are examples of divergence, especially when looking at decades of data, we can learn very important lessons about economic policy. Those lessons, in every single case, teach us that […]
The United States vs. Europe, Part IV
A labour law reform that works for workers
14 Sep 2025 Leave a comment
in economics of regulation, labour economics, labour supply, law and economics, personnel economics, politics - New Zealand, property rights Tags: employment law
Roger Partridge writes – Every day, New Zealand workers clock longer hours than their peers in most developed nations yet produce far less value per hour worked. This productivity paradox has haunted our economy for decades, condemning workers to lower wages and longer working days. Now, Parliament has a chance to help change this cycle. […]
A labour law reform that works for workers
Red Tape and Unintended Consequences
13 Sep 2025 Leave a comment
in applied price theory, economics of bureaucracy, economics of regulation, environmental economics, income redistribution, labour economics, labour supply, law and economics, occupational regulation, property rights, Public Choice, rentseeking Tags: France
I’ve written endlessly about the negative effect of high tax rates on productive behavior, as well as some quirky examples of how taxes lead to some unintended consequences. Today, let’s consider how government regulations distort behavior. We’ll start with a video from Reason about government policies that backfire. In this case, note the second example. […]
Red Tape and Unintended Consequences
Greens say taxing supermarkets more will lower food prices!
10 Sep 2025 Leave a comment
in applied price theory, economics of regulation, industrial organisation, Marxist economics, politics - New Zealand, Public Choice, public economics Tags: competition law
Radio NZ reports: But the Greens’ commerce and consumer affairs spokesperson Ricardo Menéndez March told RNZ that was only “one part of the puzzle” and the government needed to explore all its options – including breaking up the supermarket duopoly. “While we support having new players in the market, Nicola Willis is banking on big […]
Greens say taxing supermarkets more will lower food prices!
Prebble on Covid unaccountability
06 Sep 2025 Leave a comment
in economics of regulation, health economics, law and economics, politics - New Zealand Tags: economics of pandemics
Richard Prebble writes: A Royal Commission is our nation’s highest form of inquiry, reserved for the most important issues. To ensure confidence in its findings, commissioners have the power to summon witnesses and take their evidence in public under oath. In my research, apart from health reasons, the only person to have ever refused to […]
Prebble on Covid unaccountability
Do rising house prices damage economic growth?
01 Sep 2025 Leave a comment
in applied price theory, economic growth, economics of bureaucracy, economics of regulation, macroeconomics, politics - New Zealand, Public Choice, regulation, rentseeking, urban economics Tags: housing affordability
Don Brash writes – In recent years, when addressing Rotary and other audiences, I often talk about the five big challenges facing New Zealand – persistently slow growth in productivity, and therefore in income levels; ridiculously unaffordable house prices; the increasing division of our society into those with a Maori ancestor and those without; the […]
Do rising house prices damage economic growth?
Why Are Electricity Prices So High?–Dieter Helm
29 Aug 2025 1 Comment
in applied price theory, economics of climate change, economics of regulation, energy economics, environmental economics, environmentalism, global warming, industrial organisation Tags: British politics, climate activists, wind power
By Paul Homewood Why is the price of electricity so high? It’s a puzzle, because successive politicians (Blair, Cameron, May, Johnson and now Starmer and Miliband) and lots of lobbyists have told us we should have expected quite the opposite: cheap energy, to be achieved by getting out of fossil fuels. First exit […]
Why Are Electricity Prices So High?–Dieter Helm
The Most Important Election(s) of 2025
28 Aug 2025 Leave a comment
in applied price theory, Austrian economics, development economics, economic growth, economics of regulation, fiscal policy, growth disasters, labour economics, labour supply, law and economics, liberalism, libertarianism, macroeconomics, monetary economics, Public Choice, unemployment Tags: Argentina
Javier Milei has generated amazingly good results in just 20 months. But more reform is needed to undo the damage of 80 years of Peronism, which is why I explain that Argentina’s mid-term elections will be very important. Milei wants to turn Argentina into the world’s freest economy. That won’t be possible so long as […]
The Most Important Election(s) of 2025
The greyhound racing ban
27 Aug 2025 Leave a comment
in economics of regulation, labour economics, labour supply, law and economics, politics - New Zealand, property rights, Public Choice Tags: animal rights, Animal welfare
Winston Peters announced: Cabinet has formally agreed this week to the closure of the greyhound racing industry in New Zealand. A bill will be drafted to bring this decision into law. The move follows last December’s announcement of the Government’s in-principle decision to end greyhound racing as of 31 July 2026. The decision was made […]
The greyhound racing ban
Banning racing
22 Aug 2025 1 Comment
in economics of regulation, politics - New Zealand, sports economics
New Zealand will be banning greyhound racing. The Bill to formally end greyhound racing will be introduced to Parliament later this year. The public will be able to make submissions to the select committee as part of the process.“It is important people get the opportunity to have their say. The decision to end greyhound racing was…
Banning racing
Milei’s Achievements…and Challenges
17 Aug 2025 1 Comment
in development economics, economic growth, economics of bureaucracy, economics of regulation, fiscal policy, growth disasters, income redistribution, industrial organisation, labour economics, law and economics, liberalism, libertarianism, macroeconomics, Marxist economics, monetary economics, property rights, Public Choice, public economics, rentseeking, unemployment Tags: Argentina
I’m back in Argentina, the South American country with the world’s best leader. What Javier Milei has accomplished is amazing. And the economic effects have been wonderful. One of my meetings earlier this week was with Marcelo Elizondo, the head of the International Chamber of Commerce for Argentina. He shared a presentation with me that […]
Milei’s Achievements…and Challenges
Utopia, you are standing in it! 
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