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Women wearing masks during the 1918 Flu.
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To Save Lives, Social Distancing Must Continue Longer Than We Expect

The lessons of the 1918 flu pandemic.
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To Be Effective, The Covid-19 Relief Bill Must Spark Consumer Spending

While assisting businesses, Congress must also continue to help consumers.
Propaganda poster from World War II showing a gloved hand holding a wrench and reading "America's answer!".

The Coronavirus War Economy Will Change the World

When societies shift their economies to a war footing, it doesn’t just help them survive a crisis—it alters them forever.

We’ve Never Been Here Before

This is nothing like 2008. Or even 1914.
Donald Trump.
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President Trump’s Desire to Reopen Businesses Quickly Is Dangerous

History teaches us that prioritizing the economy could kill hundreds of thousands.
Portraits of Donald Trump and Herbert Hoover.
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Covid-19 May Destroy Donald Trump’s Presidency

Has Trump plunged America into another Great Depression?
Chuck Schumer talks to reporters.
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Democrats Have Been Right to Insist on a Relief Package that Helps Average Americans

In times of crisis, it has often been the wealthy who get bailed out.
Several stores in a 20th century shopping mall

Paul Samuelson Brought Mathematical Economics to the Masses

Paul Samuelson’s mathematical brilliance changed economics, but it was his popular touch that made him a household name.
High risk, high return investments in whaling ships, such as the New Bedford, Massachusetts, provided a model for modern venture capital. Courtesy New Bedford Whaling Museum.

Venture Capital Builds The Modern World

The American method of high-risk, potentially high-reward investments has fueled innovation from New England whaling ventures to Silicon Valley start-ups.

The Contagious Revolution

For a long time, European historians paid little attention to the extraordinary series of events that now goes by the name of the Haitian Revolution.
Cartoon of people at a crossroad, with one direction pointing to "prosperity" and the other to "depression"

Selling Keynesianism

Today, we can learn a lot from the popularizing efforts that led to that consensus that Keynesianism leads to and long-lasting economic success.
Entrance to CitiBank branch.

Nationalization Is as American as Apple Pie

Nationalization may seem like an alien idea in the hyper-capitalist United States. But the country has a long history of nationalizing all sorts of industries.
Alan Greenspan

When Alan Met Ayn: "Atlas Shrugged" and Our Tanked Economy

We owe at least part of the 2008 financial crisis to Ayn Rand's philosophy of objectivism.

The Rich Can't Get Richer Forever, Can They?

Inequality comes in waves. The question is when this one will break.
Cotton field.

How The 1619 Project Rehabilitates the ‘King Cotton’ Thesis

The New York Times’ series on slavery relies on bad scholarship to make an argument with an inauspicious history.
Bank of England.

The Invention of Money

In three centuries, the heresies of two bankers became the basis of our modern economy.

Against the Great Man Theory of Historians

Without accounting for the often-invisible work of others in his research, Robert Caro's new memoir is not so much inspiration as an exercise in self-celebration.

The American Revolution’s Starving, Barefoot, Heroic Troops

Our young nation was very poor, the war was very expensive, and Congress and the states wanted everyone else to pay.

The Price of Meat

America’s obsession with beef was born of conquest and exploitation.
Photo over Obama's shoulder facing Larry Summers and Timothy Geitner on the other side of a conference table.

Obama's Original Sin

A new insider account reveals how the Obama administration’s botched bailout deal reinforced neoliberal Clintonism.

How the Chicago School Changed the Meaning of Adam Smith’s ‘Invisible Hand’

Smith wasn’t warning about government intervention in the market; he was warning about government capture.
President Kennedy hands Senator Estes Kefauver the pen he used to sign a bill.

The Greatest Show of Them All

How a New Deal senator’s anti-monopoly investigations changed American business.

Banking on the Cold War

The Cold War says more about how U.S. elites imagined their “freedom” than it does about enabling other people to be free.

Wayward Leviathans

How America's corporations lost their public purpose.

Other People’s Blood

On Paul Volcker.
Border patrol guarding a group of men sitting on the ground.
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A Wall Can’t Solve America’s Addiction to Undocumented Immigration

For more than 70 years, undocumented immigrants have shaped the American economy.

Atlas Weeps

Alan Greenspan and Adrian Wooldridge’s strange elegy for capitalism.

Unchecked Power

How monopolies have flourished—and undermined democracy.

When Economists Took Socialism Seriously

If there’s one thing worth taking away from the new White House report on socialism, it’s that economics is a political argument.

“A Place to Die”: Law and Political Economy in the 1970s

What the substandard conditions at a Pittsburgh nursing home revealed about the choices made by lawmakers and judges.

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