Frederick Forsyth (1938 to 2025) was an English novelist and journalist. He’s best known for the string of meticulously researched popular thrillers he wrote in a 30-year career between the early 70s and the early Noughties. He wrote 14 novels in total, none of them as good as the debut, his first and best novel […]
Frederick Forsyth reviews
Frederick Forsyth reviews
26 Mar 2026 Leave a comment
in defence economics, economics of education
Two obituaries of Robert Trivers
26 Mar 2026 Leave a comment
Although I did call attention to the death of Robert Trivers, age 83, on March 12, and I knew him slightly, I did not have the chops to summarize his many contributions, nor did I know him that well (we overlapped at Harvard). Fortunately, Steve Pinker has produced an absolutely terrific bio of Trivers at…
Two obituaries of Robert Trivers
Defining Socialism
26 Mar 2026 Leave a comment
in applied price theory, comparative institutional analysis, development economics, economic history, economics of regulation, history of economic thought, liberalism, Marxist economics
I’ve written a four-part series (here, here, here, and here) explaining why socialism is a bad idea, but let’s use today’s column to define this evil ideology. As I mentioned in the video, genuine socialism is based on three very specific concepts. Government ownership of the means of production Central planning to determine the allocation […]
Defining Socialism
The rise of China as a global innovator in pharma (incentives matter)
26 Mar 2026 Leave a comment
in development economics, entrepreneurship, growth miracles, health economics Tags: drug lags
This paper examines China’s transition from pharmaceutical “free rider” to global innovator over the last decade. In 2010, China accounted for less than 8% of global clinical trials; by 2020, it had surpassed the US in annual registered clinical trial volume. To study this transformation, we compile a comprehensive, synchronized database spanning the pharmaceutical drug…
The rise of China as a global innovator in pharma (incentives matter)
Snapshots of “Cross-Border Financial Centers”
26 Mar 2026 Leave a comment
in financial economics, international economic law, international economics
I heard a story some years back about a court case that involved following a blizzard of cross-border financial payments. Apparently, even the lawyers were having a hard time tracking, and the jury was completely at sea. But the lawyers and the judge all knew that only one thing actually mattered in the trial. Would…
Snapshots of “Cross-Border Financial Centers”
Javier Milei Week, Part IV: Argentina’s Pre-2023 Descent into Protectionism
26 Mar 2026 Leave a comment
in applied price theory, Austrian economics, development economics, economic history, growth disasters, industrial organisation, international economics, survivor principle Tags: Argentina
Last year, as part of a series on the additional reforms Milei needs to enact in Argentina, I shared this video on reducing protectionism. Since the video was only one-minute long, there was no chance to provide details. But at the conference in Buenos Aires this week, Professor Jorge Streb shared some fascinating details on […]
Javier Milei Week, Part IV: Argentina’s Pre-2023 Descent into Protectionism
James Stewart-WW2 Hero
26 Mar 2026 Leave a comment
in defence economics, movies, war and peace Tags: World War II
Stewart’s draft number was 310, and when he appeared before Draft Board No. 245 in West Los Angeles in February 1941, the 6’3” actor weighed just 138 pounds—five pounds under the minimum requirement. He was rejected for service. Undeterred, Stewart took matters into his own hands. Aware he was nearing the age limit for flight […]
James Stewart-WW2 Hero
A worthwhile trade off
25 Mar 2026 Leave a comment
in applied price theory, economics of regulation, human capital, labour economics, labour supply, law and economics, occupational choice, politics - New Zealand, property rights Tags: employment law, offsetting behavior, unintended consequences
Susan Hornsby-Geluk writes: Among the most controversial aspects of the recently enacted Employment Relations Amendment Act 2026 is the introduction of a high-income threshold for personal grievance claims. Under the new provisions, employees earning $200,000 or more in annual remuneration will lose the right to bring a personal grievance for unjustified dismissal, or an unjustified…
A worthwhile trade off
Energy Expert: Germany’s Nuclear Phaseout Was A “500 Billion Euro Mistake”
25 Mar 2026 Leave a comment
in economics of climate change, energy economics, environmental economics, environmentalism, global warming Tags: atomic energy, Germany, wind power
Professor Fritz Vahrenholt revisits Germany’s transition to green energies (Energiewende), calling the country’s exit from nuclear power a huge mistake, one that even the current government now acknowledges. Prof. Fritz Vahrenholt (photo) looks at the high costs of green energy subsidies in Germany. In 2025, wind and solar operators received approximately €16.5 billion in government…
Energy Expert: Germany’s Nuclear Phaseout Was A “500 Billion Euro Mistake”
Javier Milei Week, Part III: Good Economic Policies, Good Economic Results
25 Mar 2026 Leave a comment
in Austrian economics, development economics, Public Choice, economics of regulation, applied price theory, economic history, growth disasters, economics of bureaucracy Tags: Argentina
Part I of this series reviewed the horrible economic conditions that plagued Argentina when Javier Milei took office. Part II looked at Milei’s spending restraint and some of the subsequent improvements in fiscal outcomes. For today’s column, let’s focus on what Milei has achieved in areas other than fiscal policy, and it will be based […]
Javier Milei Week, Part III: Good Economic Policies, Good Economic Results
Javier Milei Week, Part II: Good Fiscal Policies, Good Fiscal Results
24 Mar 2026 Leave a comment
in applied price theory, Austrian economics, budget deficits, development economics, economic history, fiscal policy, growth disasters, macroeconomics Tags: Argentina
Part I of this series focused on the horrible economic conditions that led to Javier Milei’s election in late 2023. For Part II, let’s start with this segment from an interview I did last week while in Slovenia. In less than two minutes, I tried to summarize Milei’s achievements. Let’s take a more detailed look, […]
Javier Milei Week, Part II: Good Fiscal Policies, Good Fiscal Results
Strategic overhangs and ways to prevent them in MMP systems
23 Mar 2026 Leave a comment
in comparative institutional analysis, constitutional political economy, politics
In mixed-member proportional (MMP) electoral systems, an “overhang” seat can result if a party wins more seats via the nominal tier (of, typically, single-seat districts) than it would be entitled to if a regular proportional-representation (PR) systems were used.
Strategic overhangs and ways to prevent them in MMP systems
Chi-Town Meltdown: Chicago Ramps Up Taxes and Debt in Familiar Death Spiral
23 Mar 2026 Leave a comment
in politics - USA, public economics, urban economics
As a Chicago native, I have watched my home city unravel under the policies of Mayor Brandon Johnson and the…
Chi-Town Meltdown: Chicago Ramps Up Taxes and Debt in Familiar Death Spiral
Javier Milei Week, Part I: Inheriting an Economic Crisis
23 Mar 2026 Leave a comment
in applied price theory, Austrian economics, budget deficits, business cycles, development economics, economic growth, economic history, growth disasters, liberalism, libertarianism, macroeconomics, Marxist economics Tags: Argentina
Given my enthusiasm for Javier Milei and his libertarian reforms, I’m excited to be in Buenos Aires for a week-long program on “Understanding Argentina’s Transformations Under Milei.” This means a heavy does of Milei-ism this week. For today’s column, I’m going to share some slides from a presentation by Alejandro Rodriguez on the “Inheritance” Milei […]
Javier Milei Week, Part I: Inheriting an Economic Crisis
Electric Car Mandates Start To Bite
22 Mar 2026 Leave a comment
in energy economics, environmentalism, transport economics Tags: electric cars
By Paul Homewood Car manufacturers must ensure that electric cars make up at least 33% of their total registrations this year or face swingeing government fines of £12000 for every car they are short. So far, they are struggling at below 22%, which is even less than at the same stage last year. They […]
Electric Car Mandates Start To Bite
Utopia, you are standing in it! 
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