World History

It is thanks to global trade that we now have access to many more resources for treatment and prevention of disease, including COVID-19.

John Maynard Keynes's supporters still insist that he was a mild and benign liberal. In truth, Keynes supported the blood-soaked Soviet regime and called himself a socialist. 

Whatever happens with the virus, the real story, the real historical change, is probably economic. Abenomics—Japan's ultra-Keynesian experiment—seems to be dead.

The popular narrative is that demographics are driving Japan's declining worker productivity. But the real culprit is government regulations and a lack of entrepreneurship.

The Greeks haven't saved or produced enough to justify their high standard of living compared to other countries of the world. This is a fragile bubble economy made possible by European central bankers.

Between 1909 and 1913, Keynes was the most important defender of British monetary imperialism in India. His faithful defense of the British Empire in those early years allowed him to become the century’s most influential economist after the war.

Although it doesn't explain everything, it's always a good idea to ask "who benefits" whenever governments step in to "solve" a crisis.

Real wages in Japan have been declining thanks to decades of expansionary monetary and fiscal policies. Now "Japanization" increasingly looks like a fate that awaits Europe.

Sinister forces in American political life are using the coronavirus crisis to incite war with China and to stir up bad feelings toward the Chinese people. But war with China should be the last thing people want.

Ludwig von Mises explains how the weakened state of German liberalism left the door open to German socialism which paved the way for Nazi ideology.