Tag Archives: history

In August 2014, I wrote this post arguing that harsh austerity during the Depression caused Hitler's rise to power. At the time, my argument seemed controversial, at least in Germany. There, it is not the austerity of 1930-32 that is blamed, but the debt-driven hyperinflation of a decade earlier. Germans remain terrified of both inflation and debt to this day.I am certainly not the only person to identify a causative link between austerity and Hitler. Here is Paul Krugman slapping down...

One of the most successful ideas ever is multiculturalism. For thousands of years it has seen an endless sequence of victories. Indeed there were a lot of temporary setbacks, but the long term historic trend is unmistakable. Multiculturalism was initially thought of by kings who conquered an empire of different peoples and wanted to rule them all. These different peoples could keep their own customs and settle most of their own affairs as long as they didn't pose a threat to the social...

Yet it is very difficult to tell these other stories. History is written, we are told, by the victors and stories that do not fit the pattern narrative are rejected. This is especially the case, I have come to believe, in the United States that has created during the Cold War a formidable machinery of open and concealed propaganda. That machinery cannot be easily turned off. It cannot produce narratives that do not agree with the dominant one because no one would believe them or buy such...

It's impossible to hold back the march of time and the working out of the historical dialectic, the moments of which culminate in excess and reaction to it. Beyond Money | Devoted to the liberation of money and credit, and the restoration of the commonsThe decay of western civilization Thomas H. Greco, Jr.

Part one of backgrounder on Korea. It's a must-read for understanding the situation today.Sic Semper TyrannisMAYDAY KOREA! William R. Polk

Some interesting history. The Levellers were one of the inspirations for classical liberalism and laissez-faire. Libertarianism is a contemporary manifestation of classical liberalism, in contrast to neoliberalism, which incorporates a role for the state in promoting commerce and capital formation.Mises Institute — Mises WireThe Levellers: The First LibertariansRoberta A. Modugno

Guest post by Jeff Mosenkis of Innovations for Poverty Action. An attempt to measure and rank the most effective ways to reduce CO2 in the atmosphere ranked educating girls and family planning (globally) above green energy. Fewer unplanned births means fewer carbon footprints. (h/t Osman Siddiqi) On Monday, President Trump expanded the “global gag rule” to mean no funding can go to any NGO that also discusses abortion with beneficiaries anywhere in their operations. This expansion grows its...

Guest post by Jeff Mosenkis of Innovations for Poverty Action. The datasets above all have the same means, SD, and correlations explain Justin Matejka & George Fitzmaurice of Autodesk in a modern update of Anscombe’s Quartet. But the lesson is the same – always plot your stuff. (h/t everybody) Jobs postings: Summer jobs with Busara Center, full-year with Michael Clemens, and many at the IPA/J-PAL (and several other orgs) jobs portal. Podcasts: Tyler Cowen talks with Cardiff Garcia on FT...

This chart has been fascinating me for ages. It was produced by the Bank of England to illustrate a speech by Andy Haldane. Shock, horror - we have the lowest interest rates for 5,000 years. Even in the Great Depression they were higher than they are now. These are, of course, nominal interest rates. Real interest rates are even lower - though not by much, since inflation is close to zero in all major economies.Note also the divergence of long-term and short-term interest rates. This is...

The Group of 30 central bankers and economists has produced a new report, "Fundamentals of central banking: lessons from the crisis". It traces the history of central banking theory and practice, including the economic thought that underlies it. And it draws from it some important lessons about the causes of the 2008 crisis and the reasons for the very long, slow recovery. I've discussed the main themes of the report here (Forbes).But in this post, I want to focus on a particular piece of...