Category Archives: Economics

The persistence of (belief in) socialism

I find the persistence of belief in socialism surprising (an example here), particularly given that Venezuela and North Korea both, in their different ways, display, yet again, the disastrous results in poverty, human misery and tyranny of “actually existing socialism”: that is, state domination of the economy. The lesson of Venezuela is, if anything, even stronger, as it is an […]

The uselessness of “bubble” talk

This is based on a comment I made here. If turning points in asset prices could be reliably predicted, they wouldn’t happen (since no none would buy at the “about to be seriously undercut” price). The “bubble” folk don’t seem to understand that calling it a “bubble”: (1) entails not knowing when the turning point will […]

The “race” delusion in American politics and society.

Ron Unz has produced two pieces of statistical analysis on ethnicity and crime in the US providing evidence that there is no distinctive tendency among Hispanics to have a higher crime rate, once other factors are controlled for, while there is clearly a much higher crime rate among African-Americans. This being an American piece, anything to do with […]

No, Ibn Khaldun is not the father of economics

I am a great admirer of work of the C14th Muslim intellectual Abū Zayd ‘Abd ar-Raḥmān ibn Muḥammad ibn Khaldūn al-Ḥaḍramī (1332-1406), known as Ibn Khaldun. I gave a paper on his thought to the University of Melbourne Medieval Roundtable in April 2016, I will be giving another examining the course of the Ottoman Empire in the light of […]

A Roman Industrial Revolution?

Kingdom of the Wicked is set in a Roman Empire that’s had an industrial revolution, something long considered plausible by economic historians. There are all sorts of theories as to why it didn’t actually happen, although the presence of chattel slavery looms large. The Roman society I’ve depicted has abolished slavery; I’ll be frank and […]

The depths of Palestinian dysfunction

We are about three years away from the centenary of the (third) Palestine Arab Conference in December 1920 which demanded an end to Jewish migration into Palestine and just under three years from the centenary of the April 1920 Nebi Musa riots, the first fatal clash between Jews and Arabs in Palestine on the matter […]

Why there is so much nonsense spouted about fascism

If you are going to invoke the interwar period, particularly the 1930s, please do so intelligently. By which I mean, non-propagandistically. And by interwar period I mean the phenomenon of fascism and neo-fascism. Despite self-serving (look at me, I am opposing fascism!) shrieking, there is not a lot of fascism or neo-fascism in contemporary Western politics. […]

Hitler defeated Lenin, Chiang defeated Mao

It is a commonplace that the victors write history. But which victors? The victors that are claimed to write history are normally taken to be those who win wars and other conflicts. But just because one side wins a war or conflict, it does not follow that its ideas triumph in the longer term. Consider […]

Stop with the projecting

If you assume some factor is behind everything, it is very easy to find it everywhere you look–you just project it onto phenomena. Marxists assumed everything was driven by class dynamics and–surprise, surprise—they found it everywhere they looked. As a friend of mine said to me years ago; Marxist academics didn’t look for evidence, they […]

Globalisation, internationalisation and globalism

It has become something of an analytical commonplace to see the rise of populist nationalism (or national populism)–the development of nationalist parties in Europe, the Brexit vote in the UK and The Donald winning the Electoral College (and thus the US Presidency) in the US–as signifying “a revolt against globalisation”. That is not a useful way […]