Adam Smith, author of An Inquiry into the Nature and Causes of the Wealth of Nations, considered the arguments made by today’s proponents of unilateral free trade and responded to them in print – more . . .
Understanding Karl Marx on Free Trade What do David Ricardo, Ben Shapiro, and Karl Marx have in common? They’re all free traders. No, this is not a tongue-in-cheek jab designed to smear Ricardo or Marx. . . .
Monopoly Has Become a Bad Word—This Needs to Change Economists love words. They have a word for just about everything, and if they don’t then they’ll make one up. Economics is rife with jargon. But . . .
What is Mercantilism, And How Does It Work? Everything you “know” about mercantilism is wrong. Dead wrong. But don’t worry, you’re not alone. No one seems to know what “mercantilism” means—even people who pretend to, . . .
What Is Economic Nationalism? Everyone’s talking about economic nationalism, but no one seems to know what it is. This article clears that up. I’ll tell you what economic nationalism is, give you some historical examples . . .
How Did China Get Rich? Most people don’t get China. It’s far away. They speak a different language. Their culture, philosophy, religion—everything is super different. Because of this, or perhaps because of China’s historical isolation, . . .
Why Study Economic History? Modern (theoretical) economics has failed us. It’s led America down the road to economic collapse, while at the same time empowered and emboldened our rivals. By abandoning empiricism (the use of . . .
America’s Protectionist History “He who controls the past controls the future. He who controls the present controls the past.” ― George Orwell, 1984 We’re taught in school that America’s always been a free-trading nation. America was an . . .
Did China and India Really Have The Biggest Historical Economies? We are constantly told by the media that Western hegemony is a historical aberration, and that China and India have traditionally been the centers of . . .