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My intrepid Mercatus Center colleague Veronique de Rugy is rightly pleased that one consequence of last-week’s midterm elections in the United States likely will be further legalization of marijuana.

Jeffrey Tucker reports on the long and nuanced history of the word “liberalism.

A.J. Jacobs marvels – rightly so – over his cup of coffee (just as 60 years ago Leonard Read marveled over his pencil). Here are the opening lines from Jacobs’ celebration of the wonders of the globalized economy:

I recently had the opportunity to gaze at one of the most mind-boggling accomplishments in history. This marvel is the result of thousands of human beings collaborating across dozens of countries. It required the combined labor of artists, biologists, politicians, mechanics, miners and goatherds. It took airplanes, boats, trucks, motorcycles, vans, pallets and shoulders. It depended on a vast range of materials, from steel and wood to explosives and bat guano. It relied on ancient wisdom and space-age technology, on freezing temperatures and scorching heat.