TweetHere’s a follow-up note to a commenter at EconLog. Steve: There are two different avenues down which we can and should travel to assess whether or not the Focused Protection advocated in the Great Barrington Declaration (GBD) is more practical than is the alternative – namely, lockdowns – against which the authors of that …Cafe Hayek. 5,513 likes. Education website by Don Boudreaux on January 12, 2024. Tweet. Several weeks ago I spoke with Drew Benson about international trade and protectionism. I very much enjoyed our conversation. Next post: A Modern Economy, As Such, Cannot Owe or Be Owed Anything.Are you a coffee lover who enjoys the ambiance and experience of visiting cafes? If so, you may have considered becoming a loyal cafe patron. Being a loyal customer not only benefi...3 days ago · Some Links. by Don Boudreaux on February 19, 2024. Tweet. Last month, Michael Strain defended people who earn billions of dollars in markets. Two slices: Unsurprisingly, the economic populists and nationalists on the political right find themselves in agreement with the progressive left. A few months ago, Steve Bannon, former US President ... Cafe Hayek. where orders emerge. Adam Smith and His National-Defense Exception to a Policy of Unilateral Free Trade. by Don Boudreaux on September 18, 2020. in Adam Smith, Trade, Video, War. Tweet. In his short video I discuss Adam Smith’s national-defense exception to a policy of unilateral free trade. (Again, I thank my Mercatus Center ...In today’s digital age, having a stable and reliable WiFi connection is crucial. Whether you are at home, in the office, or even at a public space like a café or airport, a weak or...Some facts about income inequality. Former U.S. Labor Secretary Robert Reich made a splash in 2011 with a two-minute YouTube video purporting to show that the only Americans who enjoyed any improvement in economic well-being during the 30 years following Ronald Reagan’s election to the presidency were the extremely rich.Some Links. by Don Boudreaux on January 6, 2024. Tweet. Lawrence Krauss decries the fact that “articles in hard-science journals increasingly read like [Alan Sokal’s] 1996 hoax, and dissenters are suppressed.”. A slice: Undergraduates are being exposed to this stuff as well. Rice University offers a course called “Afrochemistry: The ...The Best Protective Tariff Rate Is Zero (But Perhaps Not So for Revenue Tariffs) by Don Boudreaux on January 26, 2024.Jan 9, 2024 · In a free society, characterized by individual liberty, each one pursues his own goals (his “ends” in the terms of Friedrich Hayek ). Each one is free to pursue his own happiness. That the collectivist ideology espoused by protectionists would lead to logical contradictions is not surprising. In defending the “national interest ... by Don Boudreaux on May 4, 2021. Tweet. In The Essential James Buchanan, Randy Holcombe and I do our best to introduce the general public to the essential ideas of the late 1986 Nobel-laureate economist, James Buchanan. (Buchanan directed Randy’s dissertation research at Virginia Tech and was later a colleague of mine at George Mason University.)Nov 11, 2009 · A Reflection on Insider Trading and Confidence in Markets. by Don Boudreaux on November 11, 2009. Tweet. Here’s a thoughtful piece on the merits and demerits of criminalizing insider trading. Among the most common arguments made today in favor of the criminalization of insider trading (as opposed to letting corporations, in competition for ... Kenneth Rapoza concludes his recent piece on the U.S. trade deficit by quoting CPA president Jeff Ferry’s worry that “it is hard if not impossible to see how we can generate significant economic growth in this country while the trade deficit continues at close to a trillion dollars, or 3 percent of GDP” (“ Annual Goods Trade Deficit Has ...Quotation of the Day…. by Don Boudreaux on January 16, 2024. Tweet. … is from page 4 of the 1976 second edition of my late, great teacher Leland Yeager’s magisterial International Monetary Relations: Theory, History, and Policy (original emphases; footnote deleted): Our opportunity for gain is genuine regardless of why foreigners sell so ...Some Links. by Don Boudreaux on September 15, 2023. Tweet. Rob Bradley describes the battle between classical liberals and warm-mongers. A slice: “War is the health of the state,” Randolph Bourne wrote during World War I. Robert Higgs’s 1987 book Crisis and Leviathan generalized the principle: Crises are typically exploited by statist ...TweetThe Russian government wants to punish America for sanctions the U.S. government imposed on Russia over the Russian government’s involvement in the hostilities in Ukraine. So what does the Russian government do? Its chosen means for punishing America is to prevent the Russian people from buying food from America. “We’ll show you, Comrade …Kenneth Rapoza concludes his recent piece on the U.S. trade deficit by quoting CPA president Jeff Ferry’s worry that “it is hard if not impossible to see how we can generate significant economic growth in this country while the trade deficit continues at close to a trillion dollars, or 3 percent of GDP” (“ Annual Goods Trade Deficit Has ...Mar 22, 2022 · Julian Simon’s identification of the human mind as “the ultimate resource” is one such paradigm-shifting idea, or at least potentially so. This idea is at once so pro- found as to be paradigm-shifting, yet it’s also simplicity itself. Of course nothing – no raw material, no labor service, no unit of time, not even land – is useful ... TweetDr. Peter Navarro University of California – Irvine Dr. Navarro: You write in your document “Scoring the Trump Plan” that “[a]ccording to textbook theory, balanced trade among nations should be the long-term norm, and the chronic and massive trade deficits the US has sustained for over a decade simply should not exist.” This claim …Seafood has always been a favorite among food enthusiasts, with its fresh flavors and delicate textures. When it comes to enjoying seafood, nothing beats the experience of dining a...This morning, Deirdre sent to me some of her related thoughts on Oxfam’s mismeasure of the ‘distribution’ of incomes worldwide. I share Deirdre’s thoughts with you just below, with her kind permission: Such was the zero-sum rhetoric of the Democrats in the U.S. in their 2014 congressional campaigns and of the Oxfam report early in 2014 ...Some Links. by Don Boudreaux on February 17, 2024. Tweet. Robert Tracinski pushes back against those (many) people who insist on repeating the myth that manufacturing in the United States is disappearing. Three slices: But none of this is true. U.S. manufacturing is not in decline and never has been. We are still one of the greatest …Dec 22, 2023 · TweetThere’s much to like in Richard Jordan’s essay today at Law & Liberty, “Romancing Creative Destruction.” But I object to his claim that “capitalism simply cannot sustain spiritually-rich communities by itself.” My objection is not that the claim is mistaken; it’s not. This claim is correct. Indisputably so. My objection is to the supposition that […] Cafe Hayek. 5,513 likes. Education website Apparently It’s Collectivism Only If It Is Pursued as a Means of Privation. by Don Boudreaux on November 25, 2010. Tweet. Liberal Curmudgeon blogger Stephen Budiansky ridicules Rush Limbaugh, Glenn Beck, and others for describing early Plymouth colony as a failed experiment in collectivism . (HT Tom Elia) The thrust of Budiansky’s …Are you a coffee lover who enjoys the ambiance and experience of visiting cafes? If so, you may have considered becoming a loyal cafe patron. Being a loyal customer not only benefi...TweetAn economist friend, who teaches at a prominent U.S. university (not George Mason!), just sent to me the following e-mail in response to this earlier Cafe Hayek post in which I quote Thomas Sowell on the abuse of science. I share the e-mail with my friend’s kind permission, but my friend wishes to remain anonymous. […]Dec 2, 2014 · Roberts takes a different tack. He argues that Smith’s two books are about different and nonoverlapping spheres of human interaction. Borrowing from economist and philosopher Friedrich Hayek, he argues that “we need to inhabit two different worlds at the same time to interact within our families and then move into the commercial sphere and ... Are you a small cafe or restaurant owner looking to upgrade your coffee equipment? Investing in a commercial coffee machine can greatly enhance the quality of your beverages and im...Quotation of the Day…. by Don Boudreaux on February 18, 2024. Tweet. … is from pages 21-22 of The Fiscal Policy of International Trade: Being a Summary of the Memorandum by Prof. Alfred Marshall, Published as a Parliamentary Paper in 1908, J.M Robertson, ed. (1910) (original emphasis): Other countries have not found, on the other …AEA Research Highlights - interviews with authors published in AEA journals. EconTalk - sponsored by The Library of Economics and Liberty. Freakonomics - general audience. …Jan 6, 2020 ... Hayek's “Curious Task”. For more on teaching economics, see “Economics ... He blogs at Café Hayek (www.cafehayek.com). For more articles by ...Tweet. Here’s a letter to the Wall Street Journal:. Editor: By my count, Peter Navarro’s op-ed in today’s pages – “Give Trump’s Tariffs a Fair Test” – is the seventh such piece that you’ve published by him since he became Donald Trump’s trade shaman. Each of these essays is a cascade of contradictions and confusions so immense that even listing them would …This post looked at the proportion of children who have done better than their parents. Here's a measure of the amounts. Half empty or half full? Both no doubt. Just don't tell me that people in the bottom 40% haven't...His newer research suggests that the poor and middle class have made gains faster than the rich, revealing what the Financial Times economics editor Chris Giles calls a “link between trade integration and falling global inequality.”. In fact, even Piketty’s much‐ criticized calculations showed a decline in global income inequality over ...Starbucks coffee stores and stands, as with many other coffee shops, offer a “cafe breve” version of the company’s lattes, in which half-and-half or light cream is substituted for ...TweetScott Lincicome explains that skeptics of globalization get almost everything wrong about the phenomenon that they condemn. A slice: Some older industrial cities do indeed remain depressed following decades of trade liberalization, but it’s hard to blame trade for that when far more of them — towns like Pittsburgh; Greenville, South …Oct 28, 2013 ... Don Boudreaux of George Mason University and Cafe Hayek talks with EconTalk host Russ Roberts about the intellectual legacy of Ronald Coase.Jan 6, 2020 ... Hayek's “Curious Task”. For more on teaching economics, see “Economics ... He blogs at Café Hayek (www.cafehayek.com). For more articles by ...Dec 3, 2021 · Please enter all required fields . Correct invalid entries . No spam, ever. Promise. Powered by FeedBlitz It is possible to find a “today is your birthday horoscope” at sites such as Cafe Astrology and Free-Horoscope-Today. Most sites that offer this service, including Cafe Astrology, ...3 days ago · Some Links. by Don Boudreaux on February 19, 2024. Tweet. Last month, Michael Strain defended people who earn billions of dollars in markets. Two slices: Unsurprisingly, the economic populists and nationalists on the political right find themselves in agreement with the progressive left. A few months ago, Steve Bannon, former US President ... Russell David " Russ " Roberts (born September 19, 1954) is an American-Israeli [3] economist. He is currently a research fellow at Stanford University 's Hoover Institution and president of Shalem College in Jerusalem. [4] [5] [6] He is known for communicating economic ideas in understandable terms [7] as host of the EconTalk podcast. Some Links. by Don Boudreaux on January 24, 2024. Tweet. At Law & Liberty, Phil Magness today exposes several of the many misunderstandings that infect Oren Cass’s January 2nd essay at that site. Four slices: Cass begins his historical account with a novel claim. “For more than a century after Ricardo introduced the concept of …When it comes to designing a commercial cafe, one of the most important aspects to consider is the furniture. The right furniture can create a welcoming and comfortable atmosphere ...The statistics, compiled by SNL Financial from U.S. Treasury data, showed 91 banks and thrifts skipped the May dividend payment under the Troubled Asset Relief Program, or TARP. It was the first missed payment for 23 of the banks; for the others, it was at least their second miss. The number of banks missing their TARP payments rose for …Jun 22, 2016 · TweetNo politely sized blog post is large enough to contain even a tenth of all that that there is to say about cost-benefit analysis. So in this post – which I’ll keep polite – I’ll make only one point. (Well, I’ll make one point plus a preface.) I preface my point by saying that I’m […] May 12, 2011 ... ... Hayek [il coanime le blog libertarien Cafe Hayek, et le clip penche plutôt en faveur de ses idées]. Mais il souhaitait que Keynes ait tout ...Dec 19, 2023 ... ... Café, and Em Sherif Sea Café. Mrs. Hayek opened her first restaurant in Beirut, Lebanon, in 2011 and has since grown to have 21 restaurants ...Quotation of the Day…. by Don Boudreaux on February 13, 2024. Tweet. … is from page 281 of the 2016 second edition of Thomas Sowell’s important volume Wealth, Poverty and Politics (original emphasis): Black Americans, a group identified as beneficiaries of the welfare state in America, made considerable economic progress in the twentieth ...Bonus Quotation of the Day…. by Don Boudreaux on May 6, 2022. Tweet. … is from page 98 of the late Stanford University economic historian Nathan Rosenberg’s insightful 1992 paper “ Economic Experiments ,” as this paper is reprinted in Rosenberg’s 1994 book, Exploring the Black Box: Technology, Economics, and History (original ...Aug 19, 2021 ... The Dutch expectation of competence extends to public life. One afternoon, I was enjoying a beer and sandwich at a sidewalk café. An SUV was ...AEA Research Highlights - interviews with authors published in AEA journals. EconTalk - sponsored by The Library of Economics and Liberty. Freakonomics - general audience. …Jan 22, 2024 · Some Links. by Don Boudreaux on January 22, 2024. Tweet. Thomas Lambert and Tate Cooper methodically expose the errors, illogic, and arrogance of the neo-Brandeisians. Two slices: Two of Neo-Brandeisianism’s reform proposals are unique to the movement and follow from its distinctive criticism of the prevailing antitrust regime. Some facts about income inequality. Former U.S. Labor Secretary Robert Reich made a splash in 2011 with a two-minute YouTube video purporting to show that the only Americans who enjoyed any improvement in economic well-being during the 30 years following Ronald Reagan’s election to the presidency were the extremely rich.TweetIn my latest column for AIER, I share a few letters that I’ve sent over the years to students and high-school teachers. A slice: Next is a 2019 letter to a high-school student in California who applied to George Mason University: Ms. S: Thanks for your e-mail. I’m honored that you read Café Hayek, and […]Cafe Hayek. 5,413 likes · 1 talking about this. Education websiteSome Links. Carl Schramm explains that industrial policy paves “a path to national shrinkage.”. Two slices: The massive federal spending supposedly justified by Covid-19 served as cover for the Biden administration to transform the American economy into something more like China’s state-managed one. Left-leaning Keynesian economists …Tweet. Here’s a letter to The American Mind:. Editor: Quoting F.A. Hayek’s 1960 claim that free markets will bring about a “balance … between exports and imports,” Oren Cass argues that the string of annual U.S. trade deficits over the past 44 years proves that Hayek was wrong – that history has “broken” Hayek’s “promise” (“Hayek’s Broken Promise,” Feb. 19).Sep 12, 2023 · TweetThe Cato Institute today begins the release of a series of papers in its new and important project “Defending Globalization.” I’m pleased to have contributed the first of these papers; it’s titled “Comparative Advantage.” A slice: The scholar, financier, and statesman David Ricardo (1772–1823) is credited with first clearly identifying comparative advantage. He did so […] Some Links. by Don Boudreaux on January 22, 2024. Tweet. Thomas Lambert and Tate Cooper methodically expose the errors, illogic, and arrogance of the neo-Brandeisians. Two slices: Two of Neo-Brandeisianism’s reform proposals are unique to the movement and follow from its distinctive criticism of the prevailing antitrust regime.Oct 31, 2023 · In no universe is such a policy prudent. Nor were lockdowns “essential.”. As Nocera and McLean note, “the weight of the evidence seems to be with those who say that lockdowns did not save many lives. By our count, there are at least 50 studies that come to the same conclusion. After The Big Fail went to press, The Lancet published a study ... Get in Touch. by Don Boudreaux on February 14, 2024. Tweet. Here’s a letter to Yahoo!Finance: Editor: May I plead with you to improve the economic literacy of your reporting on international trade? A few days ago your reporter Enda Curran opened a story with this line: “The US goods-trade deficit with China shrank to the smallest total ...Aug 16, 2021 · TweetI conclude my latest column for AIER with a heartfelt appreciation for the opportunity – one that I’ve enjoyed now for decades – to teach Principles of Microeconomics. A slice: My goal in teaching Principles of Microeconomics is not to launch my students on a path to earn graduate degrees in the subject, or even […] TweetMatt Ridley decries the BBC’s insistence on co-opting bad weather into a climate crusade. Two slices: America has also failed to break records. On Monday, Death Valley got close to its (and the world’s) all-time high of 56.6C. But that record was set in 1913, 110 years ago. Remarkably, more than 30 of the 50 American […]Some Links. by Don Boudreaux on February 15, 2024. Tweet. My intrepid Mercatus Center colleague, Veronique de Rugy, understands well the folly of those people who wrongly suppose themselves to be wiser-than-thou in rejecting Adam Smith’s observation that “consumption is the sole end and purpose of all production; and the …TweetJuliette Sellgren talks with Eric Daniels about history. Wall Street Journal columnist Mary Anastasia O’Grady writes insightfully about the left-wing, economically ignorant populist now again ruling Brazil. Two slices: Another democratic principle at risk in Brazil is free speech. Mr. Biden may have to avoid that topic too. …Friedrich Hayek: A famous economist born in Vienna, Austria, in 1899. Friedrich Hayek is well-known for his numerous contributions in the field of economics …Mar 15, 2023 · Help Improve the Cafe. Contact our webmaster about errors on the site. ... Sowell on Scarcity. by Russ Roberts on May 10, 2006. Tweet. Here is Thomas Sowell’s deep insight about economic reality from Basic Economics: A distinguished British economist named Lionel Robbins gave the classic definition of economics: Economics is the study of the use of scarce resources which have alternative uses. What …Mar 17, 2023 · On Hayek. by Don Boudreaux on March 17, 2023. Tweet. Thanks to Rosemarie Fike and the Fraser Institute for allowing me to expound on some of the work of F.A. Hayek ... Dec 2, 2014 · Roberts takes a different tack. He argues that Smith’s two books are about different and nonoverlapping spheres of human interaction. Borrowing from economist and philosopher Friedrich Hayek, he argues that “we need to inhabit two different worlds at the same time to interact within our families and then move into the commercial sphere and ... TweetThe following is prompted by this splendid comment by Thomas Coss on this recent Cafe Hayek blog post: This minimum wage stuff is a head-fake; silly diversions so that political do-gooders can think highly about themselves, safe from any of the consequences. Indeed so. By advocating the use of government force to strip low …The statistics, compiled by SNL Financial from U.S. Treasury data, showed 91 banks and thrifts skipped the May dividend payment under the Troubled Asset Relief Program, or TARP. It was the first missed payment for 23 of the banks; for the others, it was at least their second miss. The number of banks missing their TARP payments rose for …I'm grateful for my long friendship and collaboration—not least through our blog Café Hayek. (www.cafehayek.com)—with Russell Roberts, now of the Hoover ...Unconditionally. - Cafe Hayek. No Conscription. Ever. Unconditionally. Criticizing my unconditional opposition to conscription, you ask what I would do if “our fighting forces were undermanned and needing substantial infusions of manpower to protect our freedoms.”. That’s easy: raise soldiers’ pay until the supply of such workers is ...Seafood has always been a favorite among food enthusiasts, with its fresh flavors and delicate textures. When it comes to enjoying seafood, nothing beats the experience of dining a...Who doesn’t want to pretend they’re a Starbucks barista in the comfort of their home kitchen? Well, with the help of a few handy gadgets, like the Zabba Cafe Casa electric milk fro...Oct 12, 2020 · Joakim Book patiently and thoroughly exposes the weaknesses in ad hominem arguments – in this case with reference to ad hominem attacks on AIER’s Great Barrington Declaration. Two slices: As soon as the Bought-and-Paid-For objection is raised, two strange things happen. First, we start investigating the funding relationships behind the ... Dec 22, 2023 · TweetThere’s much to like in Richard Jordan’s essay today at Law & Liberty, “Romancing Creative Destruction.” But I object to his claim that “capitalism simply cannot sustain spiritually-rich communities by itself.” My objection is not that the claim is mistaken; it’s not. This claim is correct. Indisputably so. My objection is to the supposition that […] Feb 14, 2024 · Get in Touch. by Don Boudreaux on February 14, 2024. Tweet. Here’s a letter to Yahoo!Finance: Editor: May I plead with you to improve the economic literacy of your reporting on international trade? A few days ago your reporter Enda Curran opened a story with this line: “The US goods-trade deficit with China shrank to the smallest total ... Friedrich Hayek: A famous economist born in Vienna, Austria, in 1899. Friedrich Hayek is well-known for his numerous contributions in the field of economics …
Oct 28, 2013 ... Don Boudreaux of George Mason University and Cafe Hayek talks with EconTalk host Russ Roberts about the intellectual legacy of Ronald Coase.. Dha payment standards 2023
Henry Manne on Insider Trading. by Don Boudreaux on April 28, 2014. Tweet. The great Henry Manne – dean emeritus of George Mason University’s School of Law and pioneering scholar in law and economics – helps expose, in tomorrow’s Wall Street Journal, the folly of the prohibition of insider trading. A slice:Discoursing on Trade Deficits. Whatever credibility might reside in Kenneth Rapoza’s argument for us Americans to be wary of our trade with the Chinese is seriously diluted by his crude misunderstanding of trade balances (“ In the U.S.’s Fight Against China, We’re at a Distinct Disadvantage ,” January 3).May 12, 2011 ... ... Hayek [il coanime le blog libertarien Cafe Hayek, et le clip penche plutôt en faveur de ses idées]. Mais il souhaitait que Keynes ait tout ...TweetAn economist friend, who teaches at a prominent U.S. university (not George Mason!), just sent to me the following e-mail in response to this earlier Cafe Hayek post in which I quote Thomas Sowell on the abuse of science. I share the e-mail with my friend’s kind permission, but my friend wishes to remain anonymous. […]Quotation of the Day…. by Don Boudreaux on February 8, 2024. Tweet. … is from pages 437-438 of Julian Simon’s brilliant 1996 magnum opus, The Ultimate Resource 2: Still – there is our (probably) natural aversion to risk and uncertainty. Even so, we should keep in mind that risk and uncertainty are not all in one direction, and that the ...TweetIt’s well-known among people who bother to learn the facts that U.S. manufacturing output continues to rise despite the reality that the number of Americans employed in jobs classified as being in the manufacturing sector peaked in June 1979 and has fallen, with very few interruptions, ever since. Nevertheless, some people – for …Unconditionally. - Cafe Hayek. No Conscription. Ever. Unconditionally. Criticizing my unconditional opposition to conscription, you ask what I would do if “our fighting forces were undermanned and needing substantial infusions of manpower to protect our freedoms.”. That’s easy: raise soldiers’ pay until the supply of such workers is ...Help Improve the Cafe. Contact our webmaster about errors on the site. ...Quotation of the Day…. by Don Boudreaux on February 16, 2024. Tweet. … is from page 174 of Tom Palmer’s February 2007 paper “ Twenty Myths about Markets ,” as this paper is reprinted in Tom’s superb 2009 book, Realizing Freedom: Market processes aren’t races, which have winners and losers. When two parties voluntarily agree to ...Mar 22, 2022 · Julian Simon’s identification of the human mind as “the ultimate resource” is one such paradigm-shifting idea, or at least potentially so. This idea is at once so pro- found as to be paradigm-shifting, yet it’s also simplicity itself. Of course nothing – no raw material, no labor service, no unit of time, not even land – is useful ... Quotation of the Day…. by Don Boudreaux on February 14, 2024. Tweet. … is from pages 15-16 of Richard Epstein’s insight-filled 2006 book, How Progressives Rewrote the Constitution: The key insight is this: competition is a positive-sum game, while aggression is a negative-sum game. For that social reason, and not for any fascination …He writes a blog (with Russell Roberts) called Cafe Hayek and a regular column on economics for the Pittsburgh Tribune-Review. He has appeared numerous times on John …Nov 2, 2022 · TweetRuss Roberts talks with Mike Munger about industrial policy. Here’s a slice, from the transcript, of Munger’s remarks: Look, elected officials have a two-year time horizon until the next election. And that’s in November. So, in December they have a 23-month time horizon. So, politics has a really, really short time horizon, and that’s why […] Nov 29, 2023 · Trade truly is a marvelous technology! If trade were an actual, physical machine it would be hailed as one of the greatest inventions of all time. And so when government restricts your ability to transform what you produce into outputs produced by foreigners, government artificially restricts the operation of this technology. Tweet. Today’s Wall Street Journal exposes the lie that is the so-called “Social Security Trust Fund” – and further reveals the disgraceful flippancy with which politicians and their go-fers mislead the public about it. Here’s a slice: President Obama famously played to grandma’s Social Security fears this week, saying in an interview about the debt-ceiling …The problem that you fret about doesn’t arise. I close by expressing agreement with Adam Smith when he wrote that “nothing, however, can be more absurd than this whole doctrine of the balance of trade.”. Economic policy would today be far better had this foolish mercantilist notion been completely discarded in the 18 th century and ever ...Maybe the coolest thing ever. OK, maybe it isn’t THE coolest thing, but it’s in the top 100. (HT: Maggie’s Farm) This is so beautiful and so important–a visual representation of human progress over the last two hundred year. We humans have done pretty well, lately.Bonus Quotation of the Day…. by Don Boudreaux on February 8, 2024. Tweet. … is from page 68 of the 1983 Transaction Publishers edition of Redvers Opie’s 1934 translation of Joseph Schumpeter’s 1912 book, The Theory of Economic Development: The slow and continuous increase in time of the national supply of productive means and of ….