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economic historian, entrepreneur, and fiction writer
Ferguson Reminds Us Why Bad Officers Keep Their Jobs

Ferguson Reminds Us Why Bad Officers Keep Their Jobs

A grand jury in Ferguson just failed to indict officer Darrell Wilson. In view of the historical record, this is—sadly—the expected outcome. Across the United States, bad police officers are routinely cleared of wrongdoing.

Review of In Defense of Classical Liberalism

Review of In Defense of Classical Liberalism

In Defense of Classical Liberalism is not for everyone. It will appeal to a very specific audience, but I believe that it will appeal to them very well indeed.

State Monopolies Aren’t What They Used to Be

State Monopolies Aren’t What They Used to Be

New technologies like Peacekeeper challenge the State's monopolies.

The Dating Market: Anarchy in Action

The Dating Market: Anarchy in Action

Dating is anarchy, and thank God.

Deals

Deals

One man struggles to feed his family, and takes the only way out he knows.

The Arithmetic of Keynesian Stimulus

The Arithmetic of Keynesian Stimulus

Does Keynesian economics work? 100 years of tests shows that it does less for our economy than Laissez-Faire.

Starvation and Military Keynesianism: Lessons from Nazi Germany

Starvation and Military Keynesianism: Lessons from Nazi Germany

Did Keynesianism really turn Nazi Germany's economy around?

Behavioral Economics and Irrational Voters

Behavioral Economics and Irrational Voters

Voting, like so many things, is rarely rational. It certainly can't be trusted to give us good--or any--government.

Killing the Maximum-Wage Myth

Killing the Maximum-Wage Myth

Why we don't need--and shouldn't have--a maximum wage.

Want to Beat Secular Stagnation? Try Laissez-Faire

Want to Beat Secular Stagnation? Try Laissez-Faire

Economists from Larry Summers to Paul Krugman are discussing the new phenomenon of “secular stagnation,” meaning our economy has entered a period of long-term stagnation due to depressed aggregate demand. They claim we need more government spending to fuel demand and jump-start our economy. But these Keynesian policy prescriptions miss the point, and in fact, similar policies pursued for the past decade are what got us here. Going back even further, they were tried before in the Great Depression. In 1929, the market crashed and the federal government, led first by Hoover and then by FDR, tried to stimulate demand to cure the depression. Hoover launched a small stimulus package. FDR’s New Deal spent billions trying to put the entire nation to work to boost demand. But far from ending the depression, government intervention made the situation worse. Professors Cole and Ohanian, writing in the prestigious Journal of Political Economy, argue that, “New Deal labor and industrial policies … prevented a normal recovery.” In FDR’s Folly, Jim Powell argues that the New Deal created business uncertainty and burdensome new regulations, and this together with more government spending kept the economy in a rut. FDR’s anti-business policies kept output low and unemployment artificially high: in…

How Federal Financial Student Aid Hurts Struggling Families

How Federal Financial Student Aid Hurts Struggling Families

Federal student aid, paradoxically, hurts students. Find out why.

For-Profit vs Non-Profit: An Arbitrary Divide?

For-Profit vs Non-Profit: An Arbitrary Divide?

Can a for-profit enterprise do as much good as a nonprofit? If so, why shouldn't we donate to them?

Keynesians: Sleepy? Down a Red Bull

Keynesians: Sleepy? Down a Red Bull

100 years of economic history shows that Keynesian policies just make recessions worse.

Maximum-Wage Advocates Don’t Understand Who They Want to Regulate

Maximum-Wage Advocates Don’t Understand Who They Want to Regulate

Maximum-wage advocates like to claim that CEOs are lazy, overpaid, and provide no value. The reality is the opposite.

Why Small Government Reduces Income Inequality

Why Small Government Reduces Income Inequality

If Progressives are serious about reining in income inequality, they should promote less government, not more.

Want Peace? Promote Free Trade

Want Peace? Promote Free Trade

Frédéric Bastiat famously claimed that “if goods don’t cross borders, soldiers will." The last several hundreds proved him right.

Is Liberty on the Rise?

Is Liberty on the Rise?

Is Liberty on the Rise? History says yes.

Free the Poor

Free the Poor

Does economic freedom alleviate poverty? The War on Poverty turns 50 this year. It's still no match for the free market.