A Unilateral Free Trade Policy Would Be Hugely Beneficial for Brexit Britain »

My new monograph, A Trade Policy for a Brexited Britain, was published on Friday by the Institute of Economic Affairs. Here is a brief synopsis: Adam Smith once observed that “Consumption is the sole end and purpose of all production; and the interest of the producer ought to be attended to only so far...
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Smith on Jones »

One defining characteristic of early economists was their antipathy toward protectionism, because they realized that high tariffs and import restrictions harm a nation’s citizens by eliminating mutual benefits that voluntary exchange would have created. Adam Smith, history’s most famous economist, was among their number. However, there was the one case of protectionism he endorsed,...
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The Avengers of Civil Society? »

While watching the summer blockbuster Avengers: Age of Ultron, I had trouble shaking thoughts from two books not usually connected to action heroes, let alone movies: Adam Smith’s The Theory of Moral Sentiments and C.S. Lewis’s The Four Loves. I doubt writer/director Joss Whedon had these social philosophers in mind when he was writing...
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The Ex-Im Bank Redux »

Adam Smith, the first and still best of all of the world’s economists and moral philosophers, once wrote in opposition to all systems of “preference and restraint”. That lesson is lost on most politicians and all special pleaders who support re-authorization of the taxpayer-financed Export-Import Bank, whose funding is once again set to expire...
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Think You’re Smart? Try This Quiz from The Independent Review! »

The fall 2012 issue of The Independent Review, our quarterly journal edited by Robert Higgs, is hot off the press! As always, The Independent Review deals with a wide variety of fascinating questions about economic policy, political and social theory, and intellectual history. To test your wits, try answering the questions addressed in the...
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Adam Smith on Tax-Regime Uncertainty »

As Congress and the President consider yet another set of “reforms” for the federal income tax code, taxpayers should encourage them to heed the words of one of the first and greatest economists. In Book V, Chapter II, Part II of The Wealth of Nations (Modern Library, Cannan ed., p. 778), Adam Smith wrote...
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C. S. Lewis on Mere Liberty and the Evils of Statism, Part 1 »

For decades, some Christians, both “conservative” and “liberal,” have unfortunately embraced an ill-conceived “progressive” (i.e., authoritarian) vision to wield intrusive government powers as an unquestionable and even sanctified calling for both domestic and international matters, abandoning the Christian, natural-law tradition in moral ethics and economics. In contrast, the Oxford/Cambridge scholar and best-selling author C....
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