Ideas matter, but they matter when and because they are put into practice. We're seeing rising romanticism around central planning so we're going to have to refight the socialist calculation debate all over again.
It never ends well: to clean up mountains of bad debts, the Chinese regime has employed debt-for-equity schemes that could leave countless ordinary investors in deep trouble.
In an economy where the ruling party controls enormous portions of the economy, attempts to redistribute some of that state-owned wealth isn't necessarily a move against the private sector.
Thanks to capital accumulation and other innovations in the West, life expectancy grew beyond anything previously imagined. The benefits spread from there.
Thanks to capital accumulation and other innovations in the West, life expectancy grew beyond anything previously imagined. The benefits spread from there.
Age-adjusted mortality in the UK rose in 2020 to the same level last experienced in 2008. Yet the government declared no national health crisis in those years.
The story of the Americas as the violent “pacifying” and corralling of free indigenous peoples by white outsiders erases the long history of statism in many areas of the New World.
Acton says the muse of the historian is Rhadamanthus, the avenger of innocent blood: "The historian must be a judge, and a hanging judge at that, to right the wrongs of history."
The story of the Americas as the violent “pacifying” and corralling of free indigenous peoples by white outsiders erases the long history of statism in many areas of the New World.
Cultural disparities between national, linguistic, or cultural groups can prevent the spread of trade and hamper the adoption of useful economic strategies.
