Robert Fogel is a Nobel Prize Winning Economist. Here is something he said recently:”Technology rescued humankind from centuries of physical maladies and malnutrition, Mr. Fogel argues. Before the 19th century (1800), most people were caught in an endless cycle of subsistence farming.”See Technology Advances; Humans Supersize.Francis Fukuyama, author of the famous book The End of…
Was 1800 (approximately) A Pivotal Year In Human History? Robert Fogel, Francis Fukuyama, And Deirdre McCloskey All Seem To Think So
Was 1800 (approximately) A Pivotal Year In Human History? Robert Fogel, Francis Fukuyama, And Deirdre McCloskey All Seem To Think So
24 Oct 2026 Leave a comment
in development economics, economic history, growth miracles, history of economic thought Tags: The Great Enrichment
Will bystander economies be able to finance their governments?
24 Oct 2026 1 Comment
in Public Choice, entrepreneurship, macroeconomics, public economics, economic growth, applied price theory, fiscal policy, budget deficits Tags: creative destruction
From Jesús Fernández-Villaverde: Will AI poison the public finances of many modern states? There is a real risk that it will. Yesterday, I circulated a new paper, “Saving for the Machines,” which makes a simple point. Building the AI transformation will require enormous investment. The only way to induce agents to save for that investment…
Will bystander economies be able to finance their governments?
ROCKTOBER-Edge of Seventeen:Stevie Nicks
24 Oct 2026 Leave a comment
in Music
It is very hard for artists, who are part of an iconic band, to breakthrough as a solo artist. Stevie nicks was able to handle it(maybe that’s what Destiny’s child meant when they asked “Can you handle it?} Stevie Nicks only became a singer for Fleetwood Mac by chance. The band as looking for a […]
ROCKTOBER-Edge of Seventeen:Stevie Nicks
The Economic Consequences of Different Ways of Propping Up Social Security
24 Oct 2026 Leave a comment
in fiscal policy, income redistribution, macroeconomics, politics - USA, Public Choice, public economics Tags: social insurance
My Ph.D. dissertation last century was about Australia’s system of personal retirement accounts, so I have a long-time interest in how to fix America’s Social Security system. Which leads me to a good news-bad news situation. The good news is that politicians will probably be forced to deal with Social Security at some point in […]
The Economic Consequences of Different Ways of Propping Up Social Security
What Happens to Representative Ilhan Omar’s Congressional Seat if the United States Files Suit to Denaturalize Her?
23 Oct 2026 1 Comment
in politics - USA Tags: constitutional law
[This post was co-authored with Professor Seth Barrett Tillman.] There have been many news reports suggesting that the United States… The post What Happens to Representative Ilhan Omar’s Congressional Seat if the United States Files Suit to Denaturalize Her? appeared first on Reason Magazine.
What Happens to Representative Ilhan Omar’s Congressional Seat if the United States Files Suit to Denaturalize Her?
Quotation of the Day…
23 Oct 2026 Leave a comment
in business cycles, history of economic thought, macroeconomics, monetarism, monetary economics
Tweet… is from page 129 of my late, great teacher Fritz Machlup’s May 1960 Review of Economics and Statistics paper, “Another View of Cost-Push and Demand-Pull Inflation“: It is clear that an inflation of effective demand is a necessary condition not only for a demand-pull inflation of consumer prices but also for a cost-push inflation.…
Quotation of the Day…
Starlink Holdup?
23 Oct 2026 1 Comment
in defence economics, entrepreneurship, industrial organisation, war and peace Tags: Ukraine
Ukraine’s military has become heavily dependent on SpaceX’s Starlink satellite network for battlefield communications and drone operations. They have invested relationship-specific sunk costs into SpaceX’s satellite communications platform. According to a new Wall Street Journal report, Elon Musk ordered restrictions on a military version of the service last week, disrupting Ukrainian offensive and defensive drone…
Starlink Holdup?
‘The Value of the Ability to Deal with Disequilibria,’ by Theodore Schultz
23 Oct 2026 Leave a comment
in applied price theory, entrepreneurship, history of economic thought, industrial organisation, survivor principle
The most valuable skill in the age of artificial intelligence (AI) may not be coding, prompt engineering, or any of the other competencies appearing in job listings. It may be the ability to figure out which skills will be valuable next. Half a century ago, Theodore Schultz had a name for something much like this:…
‘The Value of the Ability to Deal with Disequilibria,’ by Theodore Schultz
I like maps
23 Oct 2026 Leave a comment
in economic history, international economics, International law Tags: economics of borders, maps
Are Banking Systems Inherently Unstable? | @GeorgeSelgin | Hayek Program…
22 Oct 2026 Leave a comment
in applied price theory, Austrian economics, business cycles, economic history, economics of regulation, great depression, great recession, history of economic thought, law and economics, macroeconomics, monetary economics, property rights, Public Choice, rentseeking Tags: monetary policy
SIEPR Economic Summit 2026 | California Wealth Tax
22 Oct 2026 Leave a comment
in applied price theory, economic growth, economic history, entrepreneurship, fiscal policy, history of economic thought, human capital, income redistribution, labour economics, labour supply, macroeconomics, Public Choice, public economics Tags: California, taxation and entrepreneurship, taxation and investment
The Law Society has a problem
22 Oct 2026 Leave a comment
in law and economics, liberalism, Marxist economics, politics - New Zealand Tags: free speech, political correctness, regressive left
I blogged in March about an outrageous decision by a Law Society Standards Committee decision which fined Stephen Franks and Franks Ogilvy for the sin of “being lawyers”. I wrote: The Legal Complaints Review Officer overturned the decision, noting: The very purpose of a lawyer or firm sending a letter on behalf of a client…
The Law Society has a problem
Guest Post: Woke 1 was crazy. Are you ready for Woke 2?
22 Oct 2026 Leave a comment
in discrimination, economics of crime, gender, law and economics, liberalism, Marxist economics, politics - New Zealand, politics - USA Tags: political correctness, free speech, regressive left
A guest post by Alex Penk: “Woke 1” was crazy. Don’t take my word for it; that’s what Alexandria Ocasio-Cortez said. The globally influential US politician made the comment when asked to explain some of her past positions, like defunding the police, and the internet went, well, crazy. But the most interesting thing is what the…
Guest Post: Woke 1 was crazy. Are you ready for Woke 2?
Measure to reform the California recall process (Yes on 5)
22 Oct 2026 Leave a comment
in constitutional political economy, politics - USA, Public Choice Tags: California, constitutional law
In this November’s election, Californians are presented with a proposed state constitutional amendment to reform the process of recalling and replacing elected officeholders. It was placed on the ballot by the state legislature as Proposition 5. I am in favor, and I urge California voters to support it. Below are some excerpts from the voter […]
Measure to reform the California recall process (Yes on 5)
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