The EU’s Drive toward Political Centralization Will Doom Its Economy

In the wake of the economically disastrous covid-19 shutdowns, the political class has desperately tried to save the failing euro system. On July 21 European leaders agreed on what they called a “historic” deal. It was nothing more than a multitrillion euro stimulus package. However, it is more probable that the “recovery fund” will delay any chance of a much-needed economic restructuring taking place.

James Champlin’s Lessons on Political Economy

James Tift Champlin (1811–82) was born in Colchester, Connecticut. He enrolled at Brown University in 1830, where the president, Francis Wayland, greatly impressed him.

Wayland was a staunch defender of private property, the free market, and classical liberalism. His book The Elements of Political Economy (1837) is based on sound and insightful economic principles with an emphasis on human action.