Why Progressives Once Fought Tariffs as They Fought Monopolies

The Nineteenth Century understood very well that tariffs have the same effect on consumers as do monopolies. Tariffs prevent foreign competitors from undercutting the prices of domestic companies, because the foreign competitors must now pay the tariffs, and that in turn allows domestic companies to raise prices. It is for this reason that in the […]

Congestion Pricing Is Just the Latest in Progressives’ Betrayal of the Regulatory State

Once upon a time, most ways into New York City were tolled. Then the original progressive movement hit. Progressive economists like Harold Hotelling argued persuasively that because the marginal cost of running another motorist over a bridge was near zero, there was no economic reason for which everyone who wanted to drive over the bridge […]

The Chinese Nile Part N+2

Big ideas flow to countries that think big: TerraPower also suffered a setback in October when the Energy Department effectively killed any chance of building a demonstration reactor in China. The department announced measures to prevent “China’s illegal diversion” of U.S. civilian nuclear technology for military purposes. Three years earlier, TerraPower had unveiled an agreement […]

The Chinese Nile

Surely the Times’s compulsive need to find fault in every Chinese triumph, nicely demonstrated today by the paper’s trashing of the new Beijing airport, has contributed to the gross misestimation of China’s potential for success that the Times itself is finally reporting. Beijing is about to complete a massive new Zaha-Hadid-designed airport in, as today’s […]