economic history

How Austerity Emerged after World War I to Preserve Capitalism

In this excerpt of a new book, The Capital Order, Clara Mattei traces the origins of austerity to the period just after...

Neoliberalism Beyond the Heartlands

Much of the historical analysis of neoliberalism, both its ideological roots and its outcomes, has focused on U.S. and Europe, with figures...

Adam Smith on Self-Betterment and Policy Impacts

In this celebration of Adam Smith’s contributions to the field of political economy, Peter J. Boettke and Alain Marciano take a passage...

New Research Shows The Breakup of IG Farben Increased Innovation

IG Farben used to be the world’s largest chemical company and a major innovator—until it was broken up in one of the...

The “Conspiracy” of Consumer Welfare Theory

Matt Stoller argues there was a conspiracy. It was more of an association with a singular purpose.

Corporate Sovereigns and the Emergence of State Sovereignty: A Closer Look at the East India Company

A new data collection has made it possible to reveal the self-sovereignty of the English East India Trading Company that produced a...

New Data Shows the Rise of Corporate Concentration in the US in the Past 100 Years

New research observing 100 years of concentration in economic activities and investment in research and development shows that the dominance of large...

Why Jean Fourastié’s Theory of Economic Development is Still Relevant Today

In 1949, the innovative French economist and policymaker Jean Fourastié introduced a theory of growth and technological development that economists could still...

The Rise, Survival, and Potential Fall of the Reagan-Era Antitrust Consensus

With major antitrust reform in the air, Brian Cheffins explores how and why a now highly controversial antitrust consensus that emerged under...

How China Became a Global Economic Powerhouse Through an Idiosyncratic Approach to Market Capitalism

Chinese reformers after the death of Mao Zedong in 1976 agreed that it was necessary for China to move towards marketization, but...

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Antitrust Misunderstands Innovation. This Is How We Fix It.

Antitrust misunderstands innovation by focusing almost entirely on incentives to innovate to the neglect of questions regarding the ability to innovate through...

How Should the Law Tackle Rapidly Evolving Financial Technologies?

The last half-century has witnessed an explosion of technology changing how the financial landscape functions for customers and new and legacy banking...

The Road to Hayek: A Comprehensive History of Neoliberalism’s Forefather

In their first of two volumes, historians of economics Bruce Caldwell and Hansjoerg Klausinger access new archival material to explore the first...

International Policymaking Must Evolve

In this Q&A about his new book for ProMarket, Paul Tucker explains the changing global order and the need for academics, policymakers...

Capitalism Does Not Require a Tradeoff Between Planet and Profit

Critics of capitalism claim that the economic system incorrigibly encourages the exploitation of the planet and is thus incompatible with efforts to...