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 […]

Rising Inflation: The New Normal?

Union Budget- and Its promises February 3, 2021 The Economic TranscriptOriginal Article

10 Friday AM Reads

My end of week morning train WFH reads: • Crypto Die-Hards Built a $90 Billion Wall Street on the Internet Automated protocols running on the internet are paying traders to provide liquidity for unregulated, decentralized markets. (Businessweek) • How to Have a Roaring 2020s (Without […]

1935 Auburn 851 Speedster

Another Spring cabriolet for open-air driving: The Auburn Speedster was a powerful, affordable, stylish car. The design was gorgeous, Art deco influenced, with sweeping body lines. It featured the streamlined boat tail body, and (aluminum or chrome?) exhaust pipes on the passenger side, immense curvaceous […]

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 […]

Sunk Cost and Marginal Cost: Our Microwave

A few weeks ago our microwave went on the blink. It still worked but when we opened the microwave’s door, a fan immediately started up. The GE repairman showed up today. After examining it quickly, he was pretty sure he could fix it. But, he […]

Friedman’s smashing success

In the late 1940s, Milton Friedman was considered an important economist who had made significant technical contributions. At the beginning of the 1950s, however, he moved away from Keynesian economics and as a result was increasingly viewed as a bit of a nut. Two decades […]

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 […]