1984

Avoiding Biases: Lessons from Michael Huemer

The featured image of this post is a photograph I took two weeks ago less than a mile from my home in Maine. It is only illustrative but, I think, powerfully illustrative. In evaluating the truth, objectivity requires one to check one’s own biases. It […]

Breaking News: Unrealized Capital Gains are Not Taxed

University of Michigan economist Justin Wolfers tweets: Stunning new estimates suggest that the 400 wealthiest American families paid an average Federal tax rate of only 8.2%. Wow, I thought. That is stunning. It’s true that a large percent of Americans have a zero average federal […]

Angry Bears

In a comment replying to MikeP about my post “Preach What You Practice,” September 20, 2021, I made the point that acting rationally often involves going along with something that doesn’t make sense because the penalties are substantial. I wrote: Something that helps me deal […]

The OCTOPEST Oracle

Can corporate America, and Big Tech in particular, be democratized? How can we make capitalism more accountable to the people? In this episode, EconTalk host Russ Roberts welcomes back the OCTOPEST of Microsoft, Glen Weyl. Says Roberts, “I love capitalism. Because capitalism, profit, and loss, […]

Should Paid Leave Programs be Public or Private?

The Wall Street Journal had a very good and rather comprehensive Review and Outlook piece yesterday about what’s wrong with the Democrats’ push to create a federal paid leave program. The piece makes some important points, not least of which is that the absence in […]

Introduction to the Czech Edition of Open Borders

The Czech translation of Open Borders is now available for sale. And for those of you who don’t speak Czech, here’s the English version of my all-new Introduction to the Czech Edition. Special thanks to Martin Pánek, Director of the Liberální institut, for making this […]

Toward a Constitutional Theory of Property Rights

Prior to and since the death of Harold Demsetz, there have been a series of wonderful posts here on Econlib that have highlighted the importance of his work, in particular his article, “Toward a Theory of Property Rights” (1967). What makes it such a great […]

Doug Irwin on the Korean miracle

Doug Irwin has an excellent new paper describing how the Korean economy took off in the late 1960s: In the early 1960s, South Korea was close to being considered a failed state. It suffered from political turmoil and economic stagnation. One of the poorest countries […]

Woke Is Old

One of the less charming features of the woke movement is its vocal age prejudice. In conversation, believers have repeatedly appealed to my age and their youth to gain argumentative advantage. I’m tempted, admittedly, to respond in kind. In reality, the young have less insight […]