TweetAt CapX, I explain what motivated Phil Gramm and me to write our book, The Triumph of Economic Freedom: Debunking the Seven Great Myths of American Capitalism. A slice: Likewise with America’s own industrial revolution, the ‘Gilded Age’. American schoolchildren are taught that the final third of the 19th century witnessed John D. Rockefeller and…
Bad Economic History Fuels Bad Present-Day Economic Policies
Bad Economic History Fuels Bad Present-Day Economic Policies
28 Jun 2025 1 Comment
in applied price theory, Austrian economics, comparative institutional analysis, development economics, economic history, history of economic thought, income redistribution, industrial organisation, international economics, liberalism, politics - USA, Public Choice
The Icarian Gene: The Rise and Fall of the Expert Class
27 Jun 2025 Leave a comment
in economics of education, liberalism, Marxist economics, politics - USA Tags: Age of Enlightenment, free speech, political correctness, regressive left
The warning was stark. At issue was a privileged class that has long dictated policy despite countervailing public opinion. At issue, the luminary warned, is nothing short of democracy itself. No, it was not the continued rallies of Sen. Bernie Sanders (I., VT) to “fight oligarchy.” It was Justice Clarence Thomas rallying his colleagues to […]
The Icarian Gene: The Rise and Fall of the Expert Class
An important article by Andrew Sullivan
27 Jun 2025 1 Comment
in discrimination, gender, health economics, liberalism, Marxist economics, politics - USA Tags: free speech, political correctness, regressive left, sex discrimination
Before I leave for the airport, I wanted to call people’s attention to this new, long op-ed piece by Andrew Sullivan in the NYT. Click to read, or find it archived for free here: Sullivan’s thesis is that extreme trans-activism has not only been inimical for society in several ways, but has also eroded respect […]
An important article by Andrew Sullivan
Unfettered: Fishback 25 Years Later
25 Jun 2025 Leave a comment
in applied price theory, economic history, history of economic thought, human capital, labour economics, labour supply, politics - USA, poverty and inequality Tags: economics of immigration, employment law, monopsony
A quarter century ago, economist Price Fishback published “Operations of ‘Unfettered’ Labor Markets: Exit and Voice in American Labor Markets at the Turn of the Century” 1,762 more words
Unfettered: Fishback 25 Years Later
Racial Disparities in Mortality by Sex, Age, and Cause of Death
25 Jun 2025 Leave a comment
in discrimination, econometerics, health economics, politics - USA Tags: cancer survival rates, life expectancies, racial discrimination
Racial differences in mortality are large, persistent and likely caused, at least in part, by racism. While the causal pathways linking racism to mortality are conceptually well defined, empirical evidence to support causal claims related to its effect on health is incomplete. In this study, we provide a unique set of facts about racial disparities […]
Racial Disparities in Mortality by Sex, Age, and Cause of Death
Supreme Court Delivers Blow To California Climate Zealots
24 Jun 2025 Leave a comment
in economics of bureaucracy, economics of regulation, energy economics, environmental economics, global warming, law and economics, politics - USA, property rights, Public Choice, transport economics
“The Supreme Court put to rest any question about whether fuel manufacturers have a right to challenge unlawful electric vehicle mandates,” American Fuel & Petrochemical Manufacturers (AFPM) President and CEO Chet Thompson said in a statement.
Supreme Court Delivers Blow To California Climate Zealots
The Claude Rains School of Constitutional Law: Democrats Denounce Iranian Attack as Unconstitutional
23 Jun 2025 Leave a comment
in defence economics, politics - USA, war and peace Tags: constitutional law, Middle-East politics, regressive left, war against terror
Yesterday, I wrote a column in the Hill discussing how Trump is unlikely to go to Congress in launching an attack on Iran and how he has history on his side in acting unilaterally. The column noted that many Democratic politicians and pundits who were supportive of such unilateral actions by Democratic presidents such as […]
The Claude Rains School of Constitutional Law: Democrats Denounce Iranian Attack as Unconstitutional
Slowly Strangling the Death Tax
23 Jun 2025 Leave a comment
in applied price theory, Austrian economics, economic growth, macroeconomics, politics - USA, Public Choice, public economics Tags: death taxes, taxation and entrepreneurship, taxation and investment, taxation and savings
Back in 2013, I debated Joe Biden’s top economist on the death tax. Everything I said then (and wrote four years before then) is still true today. In the interview, I mentioned nations that have abolished their death taxes, including Australia. I should have mentioned Sweden as well. As a general rule, I don’t want […]
Slowly Strangling the Death Tax
Dunajtschik backs Chung
23 Jun 2025 Leave a comment
in politics - USA Tags: Wellington
The Herald reports: A key donor of Wellington mayoral candidate Ray Chung has been revealed, with rich-list philanthropist Sir Mark Dunajtschik confirming his financial backing for the mayoral hopeful. Chung, currently a first-term city councillor, is running to lead the capital city on a platform of cutting key projects to implement zero rates increases. … […]
Dunajtschik backs Chung
The Supreme Court Delivers a Blow to Transgender Cases
21 Jun 2025 Leave a comment
in discrimination, economics of regulation, gender, health economics, law and economics, politics - USA, property rights Tags: political correctness, regressive left, sex discrimination
Yesterday, the Supreme Court issued its 6-3 ruling upholding a Tennessee ban on transgender medical treatments for adolescents. The ruling has major implications for pending transgender cases, particularly the concurrence of Justice Amy Coney Barrett rejecting the claim that transgender status qualifies as a group entitled to heightened scrutiny under the Constitution. One of those […]
The Supreme Court Delivers a Blow to Transgender Cases
The Profit Motive Will Ensure Adequate Supplies of Rare Earths
21 Jun 2025 1 Comment
in applied price theory, international economics, politics - USA, resource economics Tags: China
TweetHere’s a letter to the Wall Street Journal: Editor: You’re correct that “Trump has no China trade strategy” (June 12). Nearly all trade talk coming from this administration is economically incoherent bluster from which we Americans can expect only diminished prosperity. You err, however, in describing China as having a “stranglehold on rare-earth minerals.” China…
The Profit Motive Will Ensure Adequate Supplies of Rare Earths
U. S. Supreme Court affirms Tennessee’s ban on medical “gender-affirming care”
20 Jun 2025 Leave a comment
in gender, health economics, politics - USA
In 2023, Tennessee passed a bill to restrict access of minors to “affirmative care”, though only minors who wanted blockers or hormones to assume the identity of his/her non-natal sex or to relieve gender dysphoria. Tennessee is now one of 15 states that has passed laws restricting affirmative care. Note, though, that hormones and blockers […]
U. S. Supreme Court affirms Tennessee’s ban on medical “gender-affirming care”
Markets are forward-looking
18 Jun 2025 1 Comment
in applied price theory, defence economics, econometerics, economic growth, economic history, financial economics, macroeconomics, market efficiency, politics - USA, war and peace Tags: efficient markets hypothesis, World War II
LPL Financial analyzed 25 major geopolitical episodes, dating back to Japan’s 1941 attack on Pearl Harbor. “Total drawdowns around these events have been fairly limited,” Jeff Buchbinder, LPL’s chief equity strategist, wrote in a research note on Monday. (Full recoveries often “take only a few weeks to a couple of months,” he added.) Deutsche Bank analysts […]
Markets are forward-looking
Bill Maher: The MUSKeteers (with Fetterman lagniappe)
16 Jun 2025 Leave a comment
in politics - USA, television, TV shows Tags: political correctness, regressive left
Here’s the comedy/news bit from yesterday’s “Real Time”: another New Rules bit called “The MUSKeteers,” so you know what the subject is. Maher takes up Musk’s suggestion that we create a new political party comprising the 80% of Americans “in the middle.” Maher admires Musk’s engineering ability, but not his ability to manage the government; […]
Bill Maher: The MUSKeteers (with Fetterman lagniappe)
“In the Spirit of Your Loyalty”: LA Citycouncil Member Asks Police to Warn Citizens of Federal Operations
15 Jun 2025 Leave a comment
in law and economics, politics - USA Tags: economics of immigration, law and order
There was an extraordinary moment this week in Los Angeles where City Councilmember Imelda Padilla asked LAPD Chief Jim McDonnell to monitor and warn citizens whenever the federal authorities are conducting an operation or seeking to make an arrest. Padilla asked McDonnell if they could use “AI” and other means to give immigrants a heads […]
“In the Spirit of Your Loyalty”: LA Citycouncil Member Asks Police to Warn Citizens of Federal Operations
Utopia, you are standing in it! 
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