Financial History


, Financial Times
The golden 2% has created the modern world
Alex J. Pollock

Of course Vaclav Smil is correct that Moore’s Law-type growth rates of 35 per cent per year will not go on forever, however astonishing the record so far (“Infinite growth is a pipe dream”,…

, Barron's
Power Struggle
Alex J. Pollock

To the Editor:
Discussing the tension between President Trump and Fed Chairman Powell, Steven Sears describes it as “this historically unusual relationship between two of the world’s most…

Book Review: Finance and Philosophy: why are we always surprised

From Housing Finance International:
For most people, including the readers of Housing Finance International the title of this book is perhaps not instantly engaging. It sounds “heavy” and in an…

, Law & Liberty
Skewering ‘the Pretense of Knowledge’ in the Financial Realm

From Law & Liberty:

Finance and Philosophy: Why We’re Always Surprised is a short, brilliant book. It is meant to be an easy read, and it is (except that footnotes and actual citations…

Europe’s populist and Brexit economic challenge

From AEI:

Europe’s political landscape is becoming much more challenging, as evidenced by the strong showing of populist parties in the recent European parliamentary elections and by the…

Pollock participates in a discussion with Professor Mark H. Rose
Alex J. Pollock

R Street Distinguished Senior Fellow Alex J. Pollock took part in a March 27 panel at the American Enterprise Institute to discuss economic historian Mark Rose’s new book, “Market Rules:…

, The Hill
Copy Sweden: Reduce government spending and prosper
Douglas Carr

Sweden has enviable attributes. For starters, The World Happiness Reportplaces Sweden seventh globally, far ahead of the U.S. (19th). For the five years through 2017, Sweden’s economy has…

, Financial Times
We can’t help feeling that we today are smarter
Alex J. Pollock

Martin Wolf is certainly correct that “further financial crises are inevitable” (March 20). Let me add one more reason why this is so — another procyclical factor rooted in human nature. This…

Over a century, which years were inflation-control champions and which booby-prize winners?
Alex J. Pollock

How much can the rate of inflation move around? A lot.

The Consumer Price Index (CPI) began in 1913, the same year
the Federal Reserve was created. The CPI’s path over the 106 years since then…

, Law & Liberty
The Inescapably Political World of Banking and Finance
Alex J. Pollock

Banking always involves political economy,
as professor Mark Rose observes, or as we might more precisely say, political
finance. This is the central lesson of Rose’s Market…