Celebrating humanity's flourishing through the spread of capitalism and the rule of law
16 Sep 2024 Leave a comment
in development economics, economic growth, economic history, growth disasters, history of economic thought, income redistribution, liberalism, macroeconomics, Marxist economics, politics - USA, Public Choice Tags: regressive left, useful idiot, Venezuela
I sometimes make the theoretical case against socialism. Usually, this means exposing the flaws of the core components of the socialist ideology. Government ownership of the means of production is a recipe for resource misallocation. Central planning has a miserable track record of failure because consumer preferences are ignored. Price controls distort incentives to make […]
It Happened Again! The New York Times Writes about Venezuela’s Collapse and Fails to Mention Socialism
06 Sep 2024 Leave a comment
in applied price theory, comparative institutional analysis, development economics, economic history, economics of bureaucracy, entrepreneurship, growth disasters, growth miracles, history of economic thought, income redistribution, industrial organisation, international economics, labour economics, law and economics, liberalism, Marxist economics, poverty and inequality, property rights, Public Choice, rentseeking, survivor principle Tags: Argentina, Chile, Poland, regressive left, Venezuela
About 10 days ago, i showed that Milton Friedman was a much better economist than Joseph Stiglitz by comparing Chile (which followed Friedman’s ideas) and Venezuela (which followed Stiglitz’s ideas). It was a slam-dunk win for Friedman. Chile started poor and has become relatively prosperous. The opposite happened in Venezuela, which started relatively prosperous and […]
Friedman vs Stiglitz: Estonia and Poland vs. Argentina and Venezuela
16 Aug 2024 Leave a comment
in development economics, economic growth, economic history, economics of regulation, entrepreneurship, growth disasters, growth miracles, history of economic thought, income redistribution, labour economics, law and economics, liberalism, macroeconomics, Marxist economics, Milton Friedman, politics - USA, poverty and inequality, property rights, Public Choice, public economics, rentseeking Tags: Chile, free speech, political correctness, regressive left, The Great Enrichment, Venezuela
I’ve repeatedly praised Chile’s pro-market reforms (see here, here, and here) and I’ve repeatedly condemned Venezuela’s shift to socialism (see here, here, and here). But if you don’t have time to read all those columns, this chart from the Maddison database tells you everything you need to know. Simply stated, Chile’s reforms have delivered huge […]
Friedman vs Stiglitz, Chile vs Venezuela
31 Jul 2024 Leave a comment
in development economics, economic history, economics of bureaucracy, economics of crime, growth disasters, income redistribution, law and economics, liberalism, Marxist economics, property rights, Public Choice, rentseeking, resource economics Tags: Venezuela
Jeffrey Clemens points us to some bonkers editorializing in the NYTimes coverage of the likely stolen election in Venezuela. The piece starts out reasonably enough: Venezuela’s authoritarian leader, Nicolás Maduro, was declared the winner of the country’s tumultuous presidential election early Monday, despite enormous momentum from an opposition movement that had been convinced this was […]
Venezuela under “Brutal Capitalism”
20 Dec 2019 Leave a comment
in development economics, economics of bureaucracy, economics of crime, energy economics, growth disasters, income redistribution, international economics, law and economics, Marxist economics, politics - USA, property rights, Public Choice, rentseeking Tags: economics of socialism, useful idiots, Venezuela
07 May 2019 Leave a comment
in development economics, energy economics, growth disasters, International law, politics - USA, Public Choice, rentseeking Tags: Venezuela
28 Nov 2018 Leave a comment
in defence economics, development economics, energy economics, growth disasters, international economic law, International law, Marxist economics Tags: Columbia, Venezuela
03 Nov 2016 Leave a comment
in applied price theory, constitutional political economy, development economics, economics of bureaucracy, growth disasters, Marxist economics, Public Choice Tags: British politics, economics of socialism, Leftover Left, Old Left, The Great Escape, Venezuela
08 Feb 2016 1 Comment
in development economics, economic history, growth disasters, growth miracles, health economics Tags: Chile, life expectancies, The Great Escape, Venezuela
06 Feb 2016 Leave a comment
in development economics, economics of regulation, entrepreneurship, fiscal policy, growth disasters, growth miracles, industrial organisation, labour economics, law and economics, macroeconomics, monetary economics, property rights, public economics Tags: capitalism and freedom, Chile, China, The Great Escape, Venezuela
05 Feb 2016 Leave a comment
in development economics, economics of regulation, growth disasters, growth miracles, law and economics, property rights Tags: doing business, Venezuela
Source: World Bank Doing Business Database 2015.
05 Feb 2016 Leave a comment
in development economics, economic history, growth disasters, growth miracles, Marxist economics Tags: Argentina, Chile, China, left-wing populism, Leftover Left, Oil prices, The Great Fact, Twitter left, Venezuela
Source: The Conference Board. 2015. The Conference Board Total Economy Database™, May 2015, http://www.conference-board.org/data/economydatabase/
21 Jan 2016 Leave a comment
in applied price theory, development economics, economics of bureaucracy, growth disasters, Marxist economics, Public Choice, rentseeking Tags: 2016 presidential election, Argentina, Brazil, Venezuela
09 Oct 2015 Leave a comment
in development economics, growth disasters, growth miracles, Marxist economics Tags: Chile, Venezuela
Embrace the free market and overtake your socialist competitors. buff.ly/1PZ3yuN http://t.co/xfpF4vtqlv—
HumanProgress.org (@humanprogress) October 05, 2015
27 Jul 2015 Leave a comment
in applied price theory, applied welfare economics, comparative institutional analysis, constitutional political economy, development economics, economics of bureaucracy, growth disasters, growth miracles, income redistribution, Public Choice, rentseeking Tags: capitalism and freedom, Hong Kong, Latin American crony capitalism, Venezuela
Socialism works -Venezuela twice as rich as Hong Kong!
No, wait, that was in 1960. http://t.co/sqwVnMc19t—
Screwed by State (@ScrewedbyState) July 26, 2015
Celebrating humanity's flourishing through the spread of capitalism and the rule of law
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