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Quotation of the Day…

… is from page 453 of Deirdre McCloskey’s June 1976 article in the Journal of Economic Literature, “Does the Past Have Useful Economics?“: Few intellectual activities are more mischievous when done poorly than economics or history.  The power of fallacious economic reasoning or fallacious historical example to damage society is obvious: the pseudo-economics of mercantilism has [...] [...]

Some Links

Bryan Caplan tells the story of opera tenor Joseph Schmidt (1904-1942) – a man elevated by market forces only to be murdered by political ones. Does economic science demonstrate that the top marginal income-tax rate in the United States today should be 73%?  (HT Greg Mankiw) Sheldon Richman – now at his new home at [...] [...]