In our age of clickbait and hyperbole, people call things “unprecedented” that are not unprecedented at all. Public officials shamelessly brag that the nation’s recent economic growth is unequaled. (It’s not.) Broadcasters breathlessly report that today’s anxiety over the stock market is unheard of. (Actually the number of suicides after the Crash of 1929 [...]
When set in motion, panic does not care what is in the way of its mad flight. All must be sacrificed—economy, society, and even worship—in the name of irrational fear. Moreover, it proves difficult to stop. What is missing in our reaction to the coronavirus pandemic is wisdom. In the face of the coronavirus [...]
Wilhelm Röpke asked how to address the problems of social fragmentation and the loss of community feeling, in a world where the market is left to itself. Röpke’s own idea was that society is nurtured and perpetuated at the local level, through motives that are quite distinct from the pursuit of rational self interest. [...]
Conservatives tend to be skeptical about the doom-and-gloom scenarios that are being presented as absolute certainties unless the country as a whole is essentially shut down for months. Many have called us “deniers” or accused us of valuing money over human life. But I believe that this skepticism is both eminently reasonable and will [...]
Once upon a time there was a beautiful land that called itself the Shire. Its people were happy. They lived and worked on their own small pieces of land, growing their own food and trading the surplus with their neighbours. Many of them were also craftsmen, making and fixing things so that everyone could [...]
The economic ignorance makes me want to gouge my eyes out. With the coronavirus pandemic upon us, and the topic of 24/7 media coverage, attention has been given to so-called “price gouging.” Webster’s dictionary defines the term simply as “charging customers too much money.” In the context of the current coronavirus panic, the term [...]
Reports of folks in this heavily armed nation stocking up on guns and ammunition suggest a widespread apprehension of what may be coming. If the medical crisis is allowed to induce an economic crisis that leads to a social crisis, the American political system, our democratic system, may itself be severely tested. "We cannot let [...]
If we were to imagine ourselves standing on a hill, looking down on the full sweep of history stretched out before us in the valley of human memory, we would observe the social edifices of man rising and falling in revolutions with the periodicity of seasons. We would witness hands reaching up like a [...]
The evidence is more than clear: Communism, socialism, and progressivism have each made huge comebacks, re-entering political discourse. Even their titles have reacquired respect and a semblance of dignity in many circles of public thought. What happened? The West won the Cold War in 1989, didn’t she? I am fiercely proud of the fact [...]
During LBJ’s presidency, a war was waged, as Amity Shlaes demonstrates in “Great Society,” by the federal government against the rest of the nation. Relief might have been expected from Richard Nixon, but Nixon’s true intent was symbolized when he placed a portrait of Woodrow Wilson in the Cabinet Room. This tragic story of [...]
A sociologist born at the turn of the twentieth century, Henri Lefebvre is a figure whose writings shed light on questions pertaining to rural life versus urban life, theories of the state, modernity, and the role of social space and markets in cities. Beyond sociology, he is considered an important figure in both urban [...]
Can “free trade,” as understood by Adam Smith, bring peace among nations? Or does it just allow the strongest nations to become imperial powers? In answering these questions, we must keep in mind that Smith was an economist and not a prophet. In all normal civilisations the trader existed and must exist. But in [...]
California’s AB-5 law severely limits the type of freelance work that people can do. Several other blue states, including New York and New Jersey, are considering some variation on this unintentionally harmful law. It would be nice if legislators aiming to help workers would recall the adage, “First, do no harm.” Is schadenfreude, the [...]
The trade war has ignited debate on the merits of tariffs and the need to protect the nation’s manufacturing base. Battle lines are drawn between an exaggerated localism that stresses self-sufficiency and a bloated globalism where products transit the Earth unhindered and markets alone rule. […]