In Tuesday’s USA Today, Glenn Reynolds wrote about the “Cajun Navy” – a group of volunteers in Louisiana who helped to rescue and provision victims of the Baton Rouge floods. Voluntary, civil-society arrangements arise and outperform the state.
How aluminum changed the world. (HT Ross Nordeen)
Finally, here’s the abstract of my colleague Pete Boettke’s and GMU Econ PhD candidate Patrick Newman’s recent paper, “The Consequences of Keynes“:
This paper discusses the consequences of John Maynard Keynes for the science of political economy, or the fields of economics, economic policy, and politics. It argues that the consequences of Keynes in all three fields were negative and resulted in a significant retrogression. For economics, a macroeconomic theory of an unstable capitalist economy supplanted the theory of the market process which concentrated on the individual actions of entrepreneurs and their effects on relative prices and production. For economic policy, activist tinkering on behalf of policy advisors replaced the theory of limited and hands off governments. For politics, unrestricted politicians and continual deficits and inflation replaced restrained politicians who adhered to balanced budgets and sound money.