Economic History
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Britain’s Problems Didn’t Begin with Brexit
Brexit disappointed both its critics and supporters, but Britain’s economic malaise runs much deeper than the 2016 referendum.
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Why Fascists Admired Keynes’s Economics
Keynes saw centralized economic direction as an improvement on market coordination. This provided cover to later corporatist authoritarians who wanted to control every aspect of life.
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The Baseball Tax That Made the Great Depression Worse
Nothing’s more American than baseball and taxes, but combining the two in 1932 cost millions their affordable day out.
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Welcome to Trillionistan. Don’t Get Comfortable.
Not all trillions — debts, valuations, investments — are created equal. Huge nominal numbers often obscure the institutions and incentives that produced them.
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Social Security Is Not a Generational Contract
The rhetoric of a “generational compact” sounds compelling until you ask who actually agreed to it — and who pays for it.
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Keeping Cool: The Air Conditioner That Changed America
The time price of air conditioning has fallen 98.6 percent since 1952. That ordinary luxury saves lives every summer.
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Does Funding Research Give Government a Claim to Tech Firms?
Public research may contribute to private innovation, but causal influence does not give government an ownership stake.
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‘Guns Versus Butter’: Tracing the Dark Origins of a Classic Economic Model
The phrase’s apparent origins in Nazi Germany — and its grim use during the 1930s and 1940s — highlight a basic truth: prioritizing guns over butter ultimately imposes the cost of lower living standards on ordinary citizens.
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The American Revolution Redefined Freedom Itself
Since 1776, at least 120 peoples have declared independence, echoing Jefferson’s universal claim about natural rights, self-government, and political legitimacy.
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•
Hamilton’s Economic Vision Had One Crucial Blind Spot
Hamilton recognized the importance of manufacturing but overlooked the market processes that create lasting prosperity.
-
•
Britain’s Problems Didn’t Begin with Brexit
Brexit disappointed both its critics and supporters, but Britain’s economic malaise runs much deeper than the 2016 referendum.
-
•
Why Fascists Admired Keynes’s Economics
Keynes saw centralized economic direction as an improvement on market coordination. This provided cover to later corporatist authoritarians who wanted to control every aspect of life.
-
•
The Baseball Tax That Made the Great Depression Worse
Nothing’s more American than baseball and taxes, but combining the two in 1932 cost millions their affordable day out.
-
•
Welcome to Trillionistan. Don’t Get Comfortable.
Not all trillions — debts, valuations, investments — are created equal. Huge nominal numbers often obscure the institutions and incentives that produced them.
-
•
Social Security Is Not a Generational Contract
The rhetoric of a “generational compact” sounds compelling until you ask who actually agreed to it — and who pays for it.
-
•
Keeping Cool: The Air Conditioner That Changed America
The time price of air conditioning has fallen 98.6 percent since 1952. That ordinary luxury saves lives every summer.
-
•
Does Funding Research Give Government a Claim to Tech Firms?
Public research may contribute to private innovation, but causal influence does not give government an ownership stake.
-
•
‘Guns Versus Butter’: Tracing the Dark Origins of a Classic Economic Model
The phrase’s apparent origins in Nazi Germany — and its grim use during the 1930s and 1940s — highlight a basic truth: prioritizing guns over butter ultimately imposes the cost of lower living standards on ordinary citizens.
-
•
The American Revolution Redefined Freedom Itself
Since 1776, at least 120 peoples have declared independence, echoing Jefferson’s universal claim about natural rights, self-government, and political legitimacy.
-
•
Hamilton’s Economic Vision Had One Crucial Blind Spot
Hamilton recognized the importance of manufacturing but overlooked the market processes that create lasting prosperity.