Roger Garrison showed that the interest rate is one of the economy's most important signals.
When it's manipulated, the consequences don't disappear... they just get delayed.
@Sergio_Econ on why it still matters:
Affordable, abundant energy is one of the most direct paths to human flourishing.
The UK has it within reach.
Harry Phibbs on what's really behind Britain's ongoing energy crisis:
When the economic case for free markets gets too strong to argue with, the argument usually shifts to culture and ethics instead.
@erikwmatson on why cultural arguments still have to survive economic scrutiny:
The creation of new wealth usually depends on knowledge, insight, and creativity.
Things that flourish in freedom, and wither under control.
This 1986 Freeman piece reads like it was written for today:
Civilized conversation and constructive debate would gain a great deal of significant clarity if the dispute on “neoliberalism” was abandoned.
As @PhilWMagness of the @IndependentInst and Robert Lawson of the @SMUCoxBridwell have recently shown, the term has become devoid of any meaningful content, a pejorative label that allows opponents to abuse it as a convenient catch-phrase to blame everything and anything that is wrong with the world.
This renders the exchange a boring semantic debate.
@TheFreemanMag vía @feeonline.
thefreemanmag.substack.com/p…
A new essay by me at @TheFreemanMag: "Castles on Economic Sand."
"One can have a variety of viewpoints about the good life and the appropriate set of political arrangements for promoting it. But one cannot, as Kenneth Boulding once remarked, build political and ethical castles on economics sand—and this is precisely what many of those in our political and intellectual classes have made a career in."
thefreemanmag.substack.com/p…
This is a great review by Allen Mendenhall. A thorough, wonderfully-written, and balanced review on a close reading of the book! Thank you for posting and hosting his review!
"Neoliberalism" doesn't have a definition.
In Latin America and beyond, "neoliberalism" is a catch-all term, it means everything so it ends up meaning nothing.
@rsalinasleon breaks down why when a label substitutes for an argument, the ideas underneath it can be missed:
The enduring power of the Declaration lies in its ability to provoke argument, reflection, and renewal.
250 years later, it still does.
@allenmendenhall reviews a timely new book on America's oldest debate:
When the government's response to a housing crisis is to blame foreigners and promise more public housing...
The structural problems don't necessarily go away.
Mark Nayler on Spain's economic balancing act:
We make our money.
And over time, our money also makes us.
Peter Earle on what two decades of deflation did to Japan, and why exiting it statistically is not the same as exiting it psychologically: