Myth: Adam Smith argued that the welfare gains from free trade among nations were limited to countries’ exploitation of their production cost advantages.   The Reality Behind the Myth: Adam Smith is heralded today for…

Lately I’ve been stunned by reports of nominal wage cuts.  They aren’t just in the news; several professionals that I personally know have received such cuts.  Employers routinely cut total pay during recessions by slashing…

In a recent post, a commenter linked to an article discussing Niall Ferguson’s allegation that flights out of Wuhan had continued into February (which contradicts claims in the post.)  Then the same commenter did more…

  Believe it or not, there are times you shouldn’t shelter in place… Times you should not shelter in place When you suspect you’re having a heart attack or strokeWhen you are seriously or critically…