Economic progress manifests itself in a continuous stream of new goods and services generated by, to use Joseph Schumpeter’s term, creative destruction. We tend to focus on the new stuff we have—the microwave ovens, the cellphones, the flat screen televisions—as a sign of progress, barely noticing the things they have replaced. Auto repair shops...
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Why would another federal “stimulus” package fail to promote long-term economic growth? How violent was the American West? What hidden strengths do the Taliban have in common with the North Vietnamese during the Vietnam War? What are we to make of last week’s police protest in Ecuador? Learn the answers to these questions by...
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