Bob Murphy does a very nice job – using effective and fair examples – explaining why Austrians (including Russ) are rightly suspicious of conventional empirical macroeconomics.
John Taylor makes a case against capital controls – which term, as Taylor correctly notes, “is a euphemism for government officials restricting where and in what form people or firms can borrow or lend or invest or save in exchanges with other people or firms, mainly in other countries.” And I highly recommend the paper he cites by Kristin Forbes.
Here’s Yale historian Paul Sabin writing in the New York Times on the Julian Simon – Paul Ehrlich bet. I can pick some nits, but they would be minor (and obvious to regular Cafe patrons). I will, though, say that the answer to Prof. Sabin’s question – “And if environmentalists like Mr. Ehrlich hadn’t urged action back in the 1970s, would all that creativity have been channeled into the cleaner air and water that we enjoy today?” – isn’t as obvious as I gather Prof. Sabin believes. What were the trends in air pollution and water pollution prior to the 1970s?