January
2023

December
2022

November
2022

October
2022

January 2023

Article

Behavioral Versus Free Market Economics

By Leonidas Zelmanovitz

In the late 1960s, the ideal of a society with free markets was definitively out of favor with the public. The Great War ended the "century of liberalism" (1815-1914), and the Great Depression pressed governments of all political stripes to intervene in the economy and...

Book Review

When Searching for Monsters to Destroy, What Do We Fail to Discover?

By Rosolino Candela

Book Review of In Search of Monsters to Destroy: The Folly of American Empire and the Paths to Peace, by Christopher J. Coyne.1 According to Ludwig von Mises, "economic history is a long record of government policies that failed because they were designed...

Book Review

Constitutional Democracy: Is Democracy Limited by Constitutional Rules?

By Pierre Lemieux

A Liberty Classic Book Review of The Reason of Rules: Constitutional Political Economy, by Geoffrey Brennan and James M. Buchanan.1 Originally published in 1985, Geoffrey Brennan and James Buchanan's The Reason of Rules extends Buchanan's previous work, n...

Book Review

Rejecting the Culture Transplant

By Arnold Kling

A book review of The Culture Transplant: How Migrants Make the Economies They Move to a Lot Like the Ones They Left, by Garett Jones.1 In January of 2018, President Donald Trump disparaged taking in immigrants from "[expletive] countries." Equally dramati...

December 2022

Article

The Economics of Quiet Quitting: Taking Stock and Looking Ahead

By Rosolino Candela

In the last several months, growing attention has been paid both in print and social media to what has become known as "The Great Resignation," a term referring to the increase in job openings and corresponding increase in employment turnover rate since 2021. To pla...

Article

Economics and the Art of Education

By Richard Gunderman

The more I think it over, the more I feel that there is nothing more truly artistic than to love people. —Vincent Van Gogh1 Politicians have long assayed education in terms of economic value. In 1994, for example, Bill Clinton told educators that they we...

Book Review

The Boys Under the Bus

By Arnold Kling

... the problems of boys and men are structural in nature... the educational system is structured in ways that put them at a disadvantage. Men are struggling in the labor market because of an economic shift away from traditionally male jobs. And fathers are dislocat...

Book Review

Some Unpleasant Thoughts: Refugees and Wealth

By Kwok Ping Tsang

A book review of The Wealth of Refugees: How Displaced People Can Build Economies by Alexander Betts (Oxford University Press, 2021)1 A key idea in Adam Smith's The Wealth of Nations is that people have a persistent and ever-present drive to "better their...

November 2022

Article

Can We Have Welfare Without the Threat of Violence?

By Max Borders

Most grownups don't believe in magic anymore. Sometimes, though, it can be helpful to imagine it. A powerful ring turns the wearer invisible in J. R. R. Tolkien's The Lord of the Rings. That power means the wearer can act with relative impunity. (For that device, To...

Article

Monopoly and Barriers to Entry: Old Wine in New Bottles

By Rosolino Candela

The year 2022 marks the 75th anniversary of the founding meeting of the Mont Pèlerin Society organized by F. A. Hayek. What is particularly interesting is the fact that—as highlighted in the transcripts of that meeting recently published by Bruce Caldwell as Mont...

Book Review

Where Is the Free Market Utopia?

By Art Carden

A Book Review of The Great Reversal: How America Gave Up on Free Markets, by Thomas Philippon.1 The Great Reversal defends a provocative and surprising thesis: the United States has given up on free markets while Europe has embraced them. As a result, Eur...

Book Review

A Memoir and a Manifesto

By Arnold Kling

This book is our story, an unlikely account of how two outsiders—a charter school principal and defrocked philosopher... are now fortunate to preside over one of the most successful early-stage funds in the business... in the top one or two percent of all funds in...

October 2022

Article

The Division of Labor and the Diminution of Man

By Richard Gunderman

The elderly patient presented with difficulty walking. The patient was referred to an orthopedic surgeon, who traced the problem to osteoarthritis in the patient's hips, knees, and feet. An otolaryngologist saw the patient and diagnosed a malfunction of the inner ear, t...

Book Review

A Keynesian’s Macroeconomic History

By Arnold Kling

One main reason why rational expectations macroeconomics, in particular its implication that the Phillips Curve for anticipated changes in money is vertical even in the short run, caught on was the allegation that the incumbent Keynesian tradition had failed to eith...

Article

Ensuring Privacy in Healthcare—Privately

By Walter Donway

In retrospect, blockchain was a long time coming, given its potential for shifting power from governments and organizations to individuals—and addressing the government regulatory mess hobbling healthcare. Blockchain technology came on the scene in 2007-8 with it...

Book Review

Social Justice as a Tribal Remainder

By Pierre Lemieux

A Book Review of The Mirage of Social Justice, by Friedrich Hayek. Volume II of his Law, Legislation, and Liberty1 Published in 1976, The Mirage of Social Justice was the second volume of Friedrich Hayek's trilogy Law, Legislation, and Liberty. My review ...