President-probably-elect Joe Biden has confirmed that he intends to introduce a forgiveness program on student debts, perhaps up to $50,000 as Senator Elizabeth Warren (D.MA) has proposed. This is a direct subsidy to the relatively rich, to be paid for by suffering middle-class taxpayers. Rather than forgiving the debts of the relatively rich, let us […]

British prime minister Boris Johnson announced this week that he would make it illegal to sell petrol or diesel-driven automobiles from 2030, pushing the British into a fleet of electric cars. He proclaimed this would lead to a “green industrial revolution.” Fat chance! If Boris had been around in the 1780s, he would have had […]

As President Trump seems likely to leave office in January, the historically minded of us should reflect on his legacy. In the short-term, maybe until 2200, his reputation will doubtless be smeared. It took 250 years for King Charles II to get his due from historians, and Lord Liverpool, almost 200 years later, still has […]

Boris Johnson’s decision to lock down England again until December 2, is economically and scientifically bizarre. It is based on advice from the faulty mathematicians at Imperial College, who proved to be hopelessly in error when the COVID-19 pandemic first arrived in March. It will damage the British economy, and probably kill more people than […]

Henry Fox, 1st Baron Holland (1705-74) made £400,000, equivalent to about $100 million today, from the office of Paymaster of the Forces during the Seven Years War. Shortly after his departure, British politics was cleaned up, so that fifty years later statesmen such as Lord Liverpool lost money on 15 years as Prime Minister. In […]

Calvin Coolidge is not running. Nor is Lord Liverpool, though his ability to win four successive general elections in his own time suggests he could do so now, with only modest policy adjustments. When deciding whom to vote for, we must measure the available candidates, not against perfection, but against the opposition candidate and those […]

For the 244 years of the United States’ independent existence, few would have thought that the country had anything to learn from the ultimate Old World monarchical autocracy, Philip II’s Spain (he ruled 1556-98). Yet as politicians debate the merits of yet another public spending “stimulus” on top of a $3 trillion 2020 deficit, Philip […]

Twenty years ago, I was strongly in favor of globalization. I recognized the theoretical benefits it could bring and believed that poor countries could get richer while rich countries and their inhabitants did not get poorer. Alas, I favored a globalization that we did not get, and that maybe does not exist. Politics, as always, […]

Every economic textbook trumpets the need for the rule of law and will tell you that one major reason for many Third World countries’ poverty is their uncertain legal system and bribery-susceptible judges. Yet to have a rule of law, we need a court system to enforce the law and general agreement on what the […]

This summer has seen a rush of billionaires and their companies donating to left-wing causes, or even giving extraordinary amounts of money to the Joe Biden campaign to defeat President Donald Trump. That is their right, of course. But I find it extraordinary that a majority of the world’s ultra-rich are supporting people whose policies […]