Let’s Not Replay The Same Old Taxation Failures

In Full Archive by Nathan Lewis

(This item originally appeared at Forbes.com on February 4, 2019.) The idea of income tax rates of 70% and above is making a strange comeback. You would have thought this notion would have died out by now, along with other once-fashionable twentieth-century failures like Soviet …

Good Money, Part I: The New World, by Friedrich Hayek

In Full Archive by Nathan Lewis

Good Money, Part I: The New World(1999) is a series of papers written by Friedrich Hayek in the 1920s and 1930s, edited by Stephen Kresge. They apparently constitute all of Hayek’s major papers on monetary topics during that time.  Back when I was just …

Britain’s Return to Gold In 1925

In Full Archive by Nathan Lewis

Today, I thought I would say something about Britain’s return to the gold standard at the prewar parity value in 1925. This is often portrayed as a big mistake. But, it doesn’t seem like that big of a deal to me. Basically, it involved …

The Mythical Problem Of “Finding The Right Gold Price”

In Full Archive by Nathan Lewis

(This item originally appeared at Forbes.com on December 1, 2018.) For decades, we’ve heard this lament that determining a new “price of gold” (dollar/gold parity) in a new gold standard system is some kind of insoluble barrier akin to Fermat’s Last Theorem. This is …

Net Gold Exports, 1913-1937

In Full Archive by Nathan Lewis

This week we will look at Net Gold Exports of major countries, 1913 to 1937. This has some importance regarding monetary “interpretations” of that time. August 25, 2017: The Interwar Period #2: It’s Not That Complicated The source of the data is the Jones/Obstfeld …

The Decline of Rome

In Full Archive by Nathan Lewis

This is another excerpt from my upcoming book, The Magic Formula. It describes, rather briefly, how the decline of the Roman Empire can be seen as a consequence of unstable politics leading to bad economic policy. A more in-depth (but still short) study of …

The Growth Experiment Revisited (2013), by Lawrence Lindsey

In Full Archive by Nathan Lewis

The Growth Experiment Revisited (2013), by Larry Lindsey, was the last book on the “supply side bookshelf” that I hadn’t read. After many years focusing mainly on monetary issues, after I finished Gold: the Final Standard last year I figured I should catch up …