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Category Archives: Economics

The EU’s downward spiral

Econblogger Bryan Caplan is rightly sceptical of “it will end in civil war(s)” claims about the European Union‘s (EU) current travails, and is moreover prepared to put his money where his blogging is; hence he will accept bets on the issue. Nobel memorial laureate and economic historian Robert Fogel argued that pressures over mass immigration were a significant aggravating factor in the lead […]

States start with violence and expropriation

I came across this passage in a collection entitled States and Development: Historical Antecedents of Stagnation and Advance (pdf): A realistic, even if stylized, account begins with the coalition building in which the elites of an emergent state are likely to engage, both with other power holders and with economically successful interests (p.11). It is in a similar […]

History and surplus: 10,000 years in one blog post

Human history has largely been driven by the creation and use of surplus production — that is, production beyond subsistence. (Subsistence meaning sufficient to sustain life and reproduction.) The change from prehistory to history is very much a matter of the generation and use of surplus production. There are essentially only three ways for such surplus […]

Open and closed state systems: the geography of regional unification

Recurring periods of unification were a notable feature of the history of China; notably the Qin-Han (221BC-220), Sui-Tang (589-907), and Yuan-Ming-Qing (1271-1912) periods of unification. (The Northern Song [959-1126] arguably do not count as a full unification, since they never controlled the northern regions, which was under the control of the Liao dynasty [907-1125].) Indeed, of all the major civilisation centres, China was unified more […]

Lenin, Luxemburg and Gorbachev’s failure (a Vladimir, Rosa and Mikhail story)

Vladimir Lenin gave his name to Leninism, a way of operationalising revolutionary socialism. In fact, essentially the only way that has proved effective, based on adopting the Jacobin model of political action. That is, totalist politics–no limit on the range, or means, of political action in pursuit of a specific political project. Lenin was happy to adopt the title of Jacobin: A Jacobin […]

Serfdom versus slavery

Slavery remains a live issue, as discussed in the Global Slavery Index. The Index uses the following operational definition of slavery: Slavery is the possession and control of a person in such a way as to significantly deprive that person of his or her individual liberty, with the intent of exploiting that person through their use, management, […]

Frustrated status and bigotry

Bigotry (in the sense of prejudice-by-category) is a form of moral exclusion–one excludes some group from the moral consideration and standing given to other people. As I have noted before, bigotry is always and everywhere a moral claim–a claim about some category of people’s moral status or standing. A claim not based on specific individual actions against others, […]

The three ages of trade and the distorting retro-perspective of the modern

The history of long distance trade can be broadly divided into three periods: the globalisation or mass trade period (from the 1820s onwards), a transition period (in an integrating Atlantic economy, from the C16th onwards) and the pre-globalisation or network trade period (prior to the 1820s outside the Atlantic economy). What drives the transition from one period to another is communication and transport costs. Prior […]

Ethos and welfare

The OECD Secretariat released recently (November 2014) a revealing summary (pdf) of public social expenditure by OECD countries. The database the study is based on is available online. (Private social expenditure–i.e. private charity–is not covered by this post.) Social expenditure being defined as: Social expenditure comprises cash benefits, direct in-kind provision of goods and services, and tax breaks with social purposes. … To […]

The Rotten Heart of Europe

Bernard Connolly‘s The Rotten Heart of Europe: Dirty War for Money is a jeremiad against European monetary union first published in 1995. Its publication led to the author’s sacking from the European Commission, where he had been senior monetary and foreign exchange economist. This is not, as Connolly a matter of saying the “Emperor has no clothes” but […]