Financial Markets

Celebrating the Repeal of the Corn Laws

One week from today – June 25th – is the 175th anniversary of the repeal of the corn laws. On June 25th, 1846, the Duke of Wellington persuaded the House of Lords to join the House of Commons in repealing Britain’s protective tariffs on grain […]

Some Non-Covid Links

My GMU Econ colleague Bryan Caplan was interviewed on PBS about his book (illustrated by Zach Weinersmith), Open Borders. My Mercatus Center colleague Liya Palagashvili moderated this discussion, on immigration, among Chandran Kukathas, Alex Nowrasteh, Adam Cox, and Robert Krol. GMU Econ student Agustin Forzani […]

Some Covid Links

GMU Econ alum Dan Mitchell supplies further evidence of the recklessness and irresponsibility of politicians – recklessness and irresponsibility that, clearly, are not necessarily tempered during times of crises. Here’s more wisdom and a wise warning from my GMU Econ colleague Bryan Caplan. A slice: […]

Quotation of the Day…

… is from page 202 of Lord Acton’s late-1890s lecture “The Influence of America,” as this lecture appears in Essays in the History of Liberty: Selected Essays of Lord Acton, Vol. 1 (J. Rufus Fears, ed., 1985; on-line access to this essay is available free […]

Wisconsin Economic Activity in May

Employment numbers for May were released for today. Nonfarm payroll employment and the March 2021 Outlook forecast: Figure 1: Nonfarm payroll employment from April release (blue), forecast from March 2021 Economic Outlook (teal squares), all in 000’s, seasonally adjusted. Source: BLS, DWD, and Wisconsin Department […]

The Bitcoin Law: Counterfeit Free Choice in Currency

“Why should we not let people use freely what money they want to use? [They] ought to have the right to decide whether they want to buy or sell for francs, pounds, dollars, D-marks, or ounces of gold. I have no objection to governments issuing […]

No, the Burden of Deficit Financing Is Not Confined to the Present

Here’s a letter to John Tamny: John: Much of what you write in your essay “Misunderstood Deficits” is correct. But your continued insistence that the burden of government indebtedness is incurred in the current period rather than passed on to future taxpayers is incorrect. It’s […]

Some Non-Covid Links

Scott Lincicome and Huan Zhu have written a new paper on the dangers of industrial policy. A slice: Perhaps the most widespread industrial policy obstacle is the “knowledge problem.” In “The Use of Knowledge in Society,” economist F.A. Hayek explained that the information needed to […]

The Market for Scary Covid Fiction Must be Huge

Here’s a letter to the Washington Post: Editor: Leana Wen continues to stoke excessive fear of Covid by making false claims (“Coronavirus vaccinations for young children should be an urgent priority,” June 16). An example is her assertion that “Covid-19 is now one of the […]

Some Covid Links

James Bovard argues that “Covid-19 is enabling politicians to turn freedom from an individual right into a conditional bureaucratic dispensation.” Two slices: G-7 leaders enjoyed parties and plenty of backslapping – privileges denied to nearby British citizens whose lives continue semi-paralyzed by pervasive government restrictions. […]