Milton Friedman, in the 1960s, was convinced that the British government official in charge of Hong Kong's economic policy — John Cowperthwaite — was largely responsible for running the most radical experiment in economic history. Cowperthwaite, a classical liberal enrolled in the British...

Economic freedom is robustly associated with income growth, but does this association extend to the poorest in a society? In this paper, we employ Canada’s longitudinal cohorts of income mobility between 1982 and 2018 to answer this question. We find that economic freedom, as measured by the...

To what extent are the outcomes of economic regulation intended and desired by its proponents? To address this question, we combine Stigler’s theory of regulatory capture with the Austrian theory of the dynamics of interventionism. We reframe Stigler’s theory of regulatory capture as an...

Canada is one of the richest countries in the world today. It stands above most countries in the Americas. It is also noticeably poorer than its American neighbour in spite of considerable geographic similarities. These two facts were true as early as the 17th century. Why? An understanding of...

Thomas Piketty’s Capital and Ideology (2020) offers a powerful critique of ideological justifications for inequality in capitalist societies. Does this mean we should reject capitalist institutions altogether? This paper defends some aspects of capitalism by explaining the epistemic function...

Did late Imperial Russia suffer from Malthusian pressures? In this paper, we use quarterly demographic and economic data from Moscow to answer this question using a VAR approach. In doing so, we provide the first application of this common methodology in economic history to pre-1913 Russia. We...

The theory of interventionism argues that government interventions are inherently destabilizing which helps explain the growth of government. I argue that the theory of interventionism is also useful process of economic growth. At first, an intervention reduces living as a level change. However,...

While few economists dispute that governments should have some role in dealing with pandemics, the relevant institutional question is whether governments can deal with pandemics. In this article, we argue that there are trade-offs embedded with the provision of public health measures. States...

For most of Canadian economic history, French-Canadians (composing more than a quarter of the country's population) had living standards inferior to those of English-Canadians. This was true even in the province (Québec) where the French-Canadians constituted a majority. Today, no significant...

Buchanan and Wagner (1977) pointed to an asymmetry in the political rewards of deficits and surpluses with the former being preferable to the latter. We test this claim by relying on the historical reputation surveys of American presidents. Historical reputations have long been something...