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September
2022

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2022

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2022

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2022

September 2022

Article

Ideas Trigger Change

By Lars  Peder Nordbakken and Leonidas Zelmanovitz

Economics, as it has been taught historically, often departs from a static analysis of society in which economic activities are in perfect equilibrium. It is only after this baseline is given that more realistic assumptions are added for the economics students to be tra...

Article

Can Price Controls Fight Inflation?

By Rosolino Candela

In recent years, fears of inflation and the possibility of recession have grabbed headlines, particularly as the Federal Reserve has raised interest rates to curb inflation. In a recent article published in The Washington Post, historian Meg Jacobs and economist Isa...

Article

Enron’s Collapse at 20: Three Myths in Search of an Historian

By Roger Donway

A journalist is someone who knows all the facts of a story and none of the truth. That melancholy reflection is prompted by the twentieth anniversary of Enron's historic collapse into bankruptcy: December 2, 2001. In its day, Enron's bankruptcy was the largest in U...

Book Review

When Cost-Benefit Analysis Fails

By Arnold Kling

Whether to have a child is what I call a wild problem—a fork in the road of life where knowing which path is the right one isn't obvious, where the pleasure and pain from choosing one path over another are ultimately hidden from us, where the path we choose define...

August 2022

Article

California Leaking: People, Pipes, and Prices

By John McKenzie and Richard B. McKenzie

California (and much of the West) is in the midst of its worst multi-decade drought in maybe a millennium. Los Angeles has received only a fifth of its normal near-desert-level rainfall this year. Indeed, LA's rainfall to date in 2022 is just under the normal precipitat...

Book Review

Ludwig von Mises’ Socialism: A Proper Defense of Liberalism

By Rosolino Candela

A Liberty Classic Book Review of Socialism: An Economic and Sociological Analysis, by Ludwig von Mises.1 The hallmark of a great book is its ability to stand the test of time, for its lessons to apply across place and time, and for its underlying principl...

Book Review

Volksgemeinschaft: Hitler as Revolutionary

By Stephen Davies

A Book Review of Hitler: The Politics of Seduction, by Rainer Zitelmann.1 One could truly say that there is no end to books about Adolph Hitler. Every year brings new works to add to the library already in print. This despite there being what most regard as a def...

Book Review

Balaji-land: Getting From Here to There

By Arnold Kling

A network state is a social network with a moral innovation, a sense of national consciousness, a recognized founder, a capacity for collective action, an in-person level of civility, an integrated cryptocurrency, a consensual government limited by a social smart co...

July 2022

Article

Re-Imagining Medicine

By Richard Gunderman

Twice per year a group of medical students and I put on a "Mini Medical School" for high school students in our city's public school system. About 50 students, nearly all from disadvantaged backgrounds, gather for a day at our medical school, attending a special class a...

Book Review

Frédéric Bastiat: The Jonathan Swift of Economics

By Caleb Fuller

A Liberty Classic Book Review of Economic Sophisms, by Frédéric Bastiat.1 "The worst thing that can happen to a good cause is, not to be skillfully attacked, but to be ineptly defended." —Frédéric Bastiat, Economic Sophisms (1845). ...

Article

Hollywood’s Monetary Policy

By Thomas Hogan

A Book Review of The Lords of Easy Money: How the Federal Reserve Broke the American Economy, by Christopher Leonard.1 Many great movies are "based on a true story"—meaning some parts are true, but the details, even entire plotlines, are embellished wit...

Book Review

Economic Thought Experiments

By Arnold Kling

Perhaps the oddest thing of our soon-to-be present is that while the Americans revel in their petty, internal squabbles, they will barely notice that elsewhere !!! Lights will flicker and go dark. Famine's leathery claws will dig deep and hold tight. Access to the i...

June 2022

Book Review

The Entrepreneurial Justice of the Market Process

By Rosolino Candela

A Liberty Classic Book Review of Discovery, Capitalism, and Distributive Justice, by Israel M. Kirzner.1 Can the distribution of income generated by the market process be regarded as just? The answer to that question depends on the extent to which economi...

Book Review

Maybe It’s Not Time for Socialism

By Donald J. Boudreaux

A Book Review of Time For Socialism, by Thomas Piketty.1 Time For Socialism author Thomas Piketty boasts a doctorate in economics, publishes papers regularly in top economics journals, teaches economics at the Paris School of Economics, and was once on the econom...

Book Review

The World’s Got Talent

By Arnold Kling

When it comes to talent, we will try to teach you how to think past the bureaucracy. We focus on a very specific kind of talent in this book—namely, talent with a creative spark—and that is where the bureaucratic approach is most deadly. In referring to t...

Article

From Prometheus to Arcadia: Liberals, Conservatives, the Environment, and Cultural Cognition

By Pierre Desrochers

Review of The Progressive Environmental Prometheans: Left-wing Heralds of a "Good Anthropocene." by William B. Meyer1 Coming out of left field for the 50th anniversary of Earth Day in 2020, the Michael Moore-backed documentary Planet of the Humans (hencef...