History shows us that slavery is an economic catastrophe as well as a moral one

Slavery has certainly been in the headlines in the past couple of weeks. Given this sudden interest in this area of history, it is worth considering the economic lessons it can teach us, as well as the moral ones. Slavery was abolished in England itself in the twelfth century. Then in 1772, Lord Mansfield gave […]

Anti-capitalists in UK universities need a refresher course in the perils of socialism

The great Harvard economist Joseph Schumpeter, writing in the 1940s, predicted the eventual demise of capitalism. He did not want this to happen. But he envisaged that the “intellectual class” would eventually develop values which were hostile to free markets and private property. Schumpeter’s definition of “intellectuals” was very wide. He meant people in a […]