Business and Economic Ethics — Course Topics and Materials

Philosophy 325

Professor Stephen Hicks

Introduction

Stephen Hicks, “What Entrepreneurship Can Teach Us About Life” (or at The Wall Street Journal). Audio version.

Topic 1: Entrepreneurism

Hans Rosling, “200 Countries, 200 Years, 4 Minutes — The Joy of Stats” [Video]

Movie: Mr. Selfridge (Season 1, Episode 1).

Questions: Why do some people say “I’ve never worked a day in my life”? “People start hating their jobs at age 35.” Why? [PDF version]

Supplemental: Gapminder Tools.

Topic 2: Entrepreneurial Character

Stephen Hicks, “What Business Ethics Can Learn from Entrepreneurship” [article]. Audio edition at YouTube.

Movie: Steve Jobs (Apple and Steve Jobs).

Ethical Principles chart.

Questions: Is this good advice?

From Steve Jobs, former Apple CEO: “Your work is going to fill a large part of your life, and the only way to be truly satisfied is to do what you believe is great work. And the only way to do great work is to love what you do. If you haven’t found it yet, keep looking. Don’t settle. As with all matters of the heart, you’ll know when you find it. And, like any great relationship, it just gets better and better as the years roll on. So keep looking until you find it. Don’t settle.”

Also good advice? From Intel founder Andy Grove‘s Only the Paranoid Survive: “The sad news is, nobody owes you a career. Your career is literally your business. You own it as a sole proprietor. You have one employee: yourself. You are in competition with millions of similar businesses: millions of other employees all over the world. You need to accept ownership of your career, your skills and the timing of your moves. It is your responsibility to protect this personal business of yours from harm and to position it to benefit from changes in the environment. Nobody else can do that for you.”

Supplemental: Courage: 10-Meter Tower . Independence: Stanley Milgram: “Milgram Experiment” [article]. Rob Tracinski.on Sam Bankman-Fried, Fraud, and “Effective Altruism.”

Topic 3: Entrepreneurial Definition, Start-up, and Management

Alexei Marcoux, “Defining Entrepreneurship”

Movie: Icahn: The Restless Billionaire.

Questions: Are these guys correct? Lee Iacocca (Chrysler CEO): “I hire smart people and get out of their way”. Peter Drucker: “Tell people what you need, not what to do.” Steve Jobs (Apple CEO): “I hire people brighter than me and get out of their way.”

Supplemental: Stephen Hicks, “The Entrepreneurial Process” . Terry Noel, “Management and Entrepreneurship”

Topic 4: Does Money Buy Happiness?

Tara Smith, “Money Can Buy Happiness” [article]. [Executive Summary here.]

Data: Does income correlate with reported well-being? (2023)

Movie: The Pursuit of Happyness.

Questions: What is wealth? Time, money, meaning, character, reputation, capital goods, consumption goods?

Does this sound true to you? Bill Gates in the early days at Microsoft: “I don’t think anyone at the company is in it for the money. It’s a much more exciting field than trying to measure exactly how much we’re selling or how much it’s worth. The creation of these programs is something you can sit down and see people enjoying and solving real problems.” (1984 interview)

Why do some people say “The love of money is the root of all evil”?

What does this mean? “The average citizen in many advanced industrial nations has over $450,000 in intangible net worth.”

What’s your exit amount? What does retirement even mean? If you won the lottery, would you continue working?

Supplemental: Data on income and life satisfaction: Jean Twenge. Dissatisfaction with standard of living vs. GDP measures of income [chart]. Happiness flow chart:

Topic 5: Money and Autonomy or Money versus Autonomy?

Stephen Hicks, “You Should Love Money” (audio). Also available here.

Movie: Founder (Ray Kroc and McDonald’s).

Does this sound true? Physician Alan Lickerman: “restrictions on our autonomy may lie at the heart of a great deal of our unhappiness. Studies show, for example, that one of the greatest sources of dissatisfaction among doctors isn’t having to deal with insurance companies or paperwork but lack of control over their daily schedules. (I’ve found this to be true: nothing distresses me more in the course of my work day than feeling hurried and unable to control how I spend my time.) I simply hate feeling forced to do things—even things I would want to do if I weren’t being forced to do them.”

Questions: True? “We naturally, as I said, even from our cradles, love liberty, and have therefore an aversion to many things, for no other reason, but because they are injoined us.” [The philosopher John Locke, Some Thoughts Concerning Education [1690], Section 148]

Why? “Many a person remains in the same town, street, or house from January to December, without a wish or thought tending towards removal, who, if confined to that same place by the mandate of authority, would find the imprisonment absolutely intolerable.” [John Stuart Mill, Principles of Political Economy. Books I-II. Indianapolis: Liberty Fund, 2006, p. 213]

Supplemental: “Individualism a stronger predictor of well-being than wealth, says new study” (Science Daily). Selected quotations on money. Silicon Valley entrepre neur John Chisholm interview.

Topic 6: Robots, ArtificiaI Intelligence, and Why You Must Be Entrepreneurial

Stephen Hicks, “The Robots Will Free Us” .

Movie: The Inventor: Out for Blood in Silicon Valley.

Questions: Historically, has technology expanded or restricted the number of available jobs? Are robots freeing us from boring work or taking away opportunities?

Supplemental: Atlas University: AI and Robotics sessions.

Topic 7: Are We Rich?

John V. C. Nye, “Standards of Living and Modern Economic Growth,” Concise Encyclopedia of Economics. [Article] (Sample study questions on Nye.)

Movie: Ford v. Ferrari.

Questions: True? “In the most successful countries, the average citizen now enjoys a material standard of living that would have made the greatest king of two hundred years ago turn green with envy.” (John V.C. Nye)

True? “The Earth was 518.98 percent more abundant in 2018 than it was in 1980.” (Simon Abundance Index)

For one million dollars, would you agree never to use the Internet for the rest of your life? Follow-up question: How much does the Internet cost you each month?

In 1700, what was average life expectancy at birth? At what age did children stop going to school? Did people retire?

How much would it cost you to make a sandwich entirely from scratch?

Supplemental: Max Roser, “Economic Growth.” “Five Charts.” Child Mortality. Our World in Data. (Sample study questions on Roser.) 10 Indicators. Wealth and Health Indicators [PowerPoint].

Topic 8: Why Are Some Economies Wealthy and Some Not?

“Ease of Doing Business Index.“ The Rankings from 2006-2020.

Movie: Rocket Singh – Salesman of the Year.

Gapminder, 2016 World Chart. “Income and Life Expectancy,”

Topic 9: Free-Market Capitalism versus Socialism

Robert Lawson, “Economic Freedom.” Concise Encyclopedia of Economics. [Article]

Movie: Inside Bill’s Brain – Decoding Bill Gates.

Supplemental: Chris Coyne, “The Market Process” [7-minute video]. Robert Nozick, “The Tale of the Slave,” from Anarchy, State, and Utopia (1974). [HTML]

Topic 10: Socialism versus Free-Market Capitalism

Karl Marx and Friedrich Engels, The Communist Manifesto. [Executive Summary here.]

Movie: The Lives of Others.

Supplemental: Robert Heilbroner, “Socialism,” Concise Encyclopedia of Economics. [Executive Summary here.] Journalistic example: Socialist Grading and Your GPA?

Topic 11: Liberal Capitalism versus sexism, racism, and religious intolerance

Stephen Hicks, “13 Arguments for Liberal Capitalism in 13 Minutes”

Movie: Self-Made (miniseries about C. J. Walker, “Madam C. J. Walker: The Ultimate Self-Made Woman”).

Topic 12: Market Pricing or Rent Controls?

Walter Block, “Rent Control.” Concise Encyclopedia of Economics.

Movie: The Big Short.

Questions: on Prices and Ethics and Rent Control.

Topic 13: Market Prices or Minimum Wages?

Linda Gorman, “Minimum Wages,” Concise Encyclopedia of Economics.

Movie: Moneyball.

Questions: Minimum Wages.

Supplemental: Stephen Hicks video lecture on Minimum Wages: 1. The standard employer/employee relationship. 2. The argument for minimum wages. 3. Contrasting the initial arguments’ claims about economics, ethics, and politics. 4. The economic argument against minimum wages. 5. Minimum wages: ethics and politics. * Summary flowchart of the arguments for and against minimum wages. Journalism: Seattle 2017: “The Seattle Minimum Wage Study”. Amazon 2018: Good free-market competitive move. Bootleggers and Baptists move. Bonuses eliminated. Net loss? Socialists happy? Unionists happy? New York City restaurants 2019. History: Ford workers get $5 per hour and 40 hour week. “7 Quotes That Reveal the Racist Origins of Minimum Wage Laws”. Comparative: European country data on the minimum wage.

Topic 14: Competition, Property Rights, and Regulation. How Best Solve the Tragedy of the Commons?

Garrett Hardin, “The Tragedy of the Commons,” Concise Encyclopedia of Economics.

Movie: Hitsville: The Making of Motown.

Supplemental: Stephen Hicks, video lecture: 1. What the tragedy is.
2. The free-market solution. 3. The socialist solution. 4. Comparing the two solutions. * View the entire lecture at YouTube. 43 minutes total.

Optional: “Market failures and Externalities” [Video lecture]. Robert Litan, “Regulation” [CEE]. Video: Elinor Ostrom on “Ending the Tragedy of the Commons” (the Nobel-Prize winning economist explains how, with proper governance, humans are capable of finding peaceful solutions to the problem of resource scarcity). Vlad Tarko on Ostrom. [podcast] Journalism examples: Online Dating Apps. Shared bicycles. Private Sector Roads in Sweden and Finland. “How the Coase Theorem Solves the Problem of Wolves.” New Zealand and privatizing fisheries.

Movies and Documentaries

The Greatest Showman (P. T. Barnum). Self-Made (miniseries about C. J. Walker: “Madam C. J. Walker: The Ultimate Self-Made Woman”). Ford v. Ferrari. Bohemian Rhapsody (Queen and Freddie Mercury). Mr. Selfridge. Any Given Sunday. The Aviator (Howard Hughes). Working Girl. Hitsville: The Making of Motown. Guru. (Gurukanth Desai. Trailer and Rent/Buy option at YouTube.) Steve Jobs (Apple and Steve Jobs). The Inventor: Out for Blood in Silicon Valley. The Pursuit of Happyness. Inside Bill’s Brain – Decoding Bill Gates. Founder (Ray Kroc and McDonald’s). Other People’s Money. Glengarry Glen Ross. The Big Short. Silicon Valley (comedy-drama series). Becoming Warren Buffett. Adidas vs Puma: The Brothers’ Feud. Moneyball. Rocket Singh – Salesman of the Year. The King’s Speech. Jerry McGuire. The Lives of Others. Icahn: The Restless Billionaire. Wall Street.

Topic: Personal Responsibility, Paternalism, and Experimental Cancer Drugs (Laetrile)

Tom Beauchamp, “Manufacture and Regulation of Laetrile” [pdf].

Stephen Hicks video lecture:
1. Context and defining the issue.
2. The argument for legalizing Laetrile.
3. The argument for banning Laetrile.
4. Comparing the arguments for and against Laetrile.
* View the entire video-lecture at YouTube. 65 minutes total).
* Summary: flowchart of the pro and con arguments.

Gerald Dworkin, Paternalism, S.E.P., 2017.
Journalism: Paternalism tending to authoritarianism, and pushback.

Resources, Fairness, and Is the FCC’s “Fairness Doctrine” Fair?

Tom Beauchamp, “The FCC’s ‘Fairness Doctrine'” [pdf].
Stephen Hicks video lecture:

1. The early days of radio and a tragedy of the commons.
2. What is fairness? Two competing answers.
3. The argument for the “Fairness Doctrine.”
4. The argument against the “Fairness Doctrine.”
5. Related issues: whether politics is special, whether the medium matters, scarcity, unintended consequences, and abuses of power.
* View the entire lecture at YouTube. 70 minutes total. * Summary flowchart of the arguments pro and con [jpg].
Optional: Stephen Hicks, “Is Life Unfair? My Challenge to the Best Tennis Player in the World.” Visual Capitalist: The Allocation of the Wireless Spectrum in the United States.

Markets or Central Planning

Optional: John Atcheson, “Let’s Just Admit It: Capitalism Doesn’t Work.” Common Dreams.
Optional: Robert Tracinski, “The Top 5 Forms of Socialism Denial.” The Federalist.
Cases: Soviet Union, China, Cuba, Venezuela.

Robert Salvino, “Entrepreneurship and Public Policy”

Capitalist Peace

Is the Capitalist Peace thesis true?

Why work?

“Of all the unhappy people in the world, the unhappiest are those who have not found something they want to do.” (Lin Yutang)

“I do not think there is any thrill that can go through the human heart like that felt by the inventor as he sees some creation of the brain unfolding to success … Such emotions make a man forget food, sleep, friends, love, everything.” (Nikola Tesla)

“Man’s work begins with his job; his profession. Having a vocation is something of a miracle, like falling in love.” (Hyman Rickover, “Notable and Quotable,” The Wall Street Journal, September 16, 2005)

“One must live as if it would be forever, and as if one might die each moment. Always both at once.” (Alexander the Great, as per Mary Renault)

“Work is a duty” versus “Work is play.”

What is psychic income? Curiosity, creativity, meaning, pride, benevolence, efficacy.

Egoist, Predator, or Altruist?

Plato, The Republic: excerpt from Book 2 on “The Myth of Gyges.” Sample study questions on Gyges.
Mother Teresa, excerpt “On Prayer,” from No Greater Love (1987). Sample study questions on Teresa.

Optional: Karen Rinaldi, “Motherhood Isn’t Sacrifice, It’s Selfishness,” The New York Times. [Article]

Stephen Hicks, “Egoism, Altruism, and Predation” [14-minute video lecture]. Stephen Hicks, “The Myth of Gyges” [7-minute lecture excerpt].

Resources: Plenty or Scarcity?

Sue Ann Batey Blackman and William J. Baumol, “Natural Resources,” Concise Encyclopedia of Economics.
Stephen Hicks, “Do we really live in a world of scarce resources?”
The Wager: Julian Simon versus Paul Ehrlich. Wikipedia.
Garrett Hardin, “Lifeboat Ethics: The Case against Helping the Poor” (1974).
Stephen Hicks, “Lifeboat ethics: how scarcity thinking sets us at each others’ throats”.
Dave Merrill and Lauren Leatherby, “How the USA Uses Its Land”. Bloomberg, July 31, 2018.
On Norman Borlaug, Father of the Green Revolution.

Jonathan Adler, Dematerialization.

Trade

Stephen Hicks, “Free Trade Makes You a Better Person”.
Arnold Kling, “International Trade,” Concise Encyclopedia of Economics.
Henry Hazlitt, Chapter 11 of Economics in One Lesson (1946).
Jeff Jacoby, “Nations don’t trade with each other, and trade is not a war.” The Boston Globe.
“Uber, Cuba, and Freedoms Small and Large.”
The Trading Game: Arbitrary, Free Trade, Restrictions, Egalitarian, Authoritarian.

Competition and/or Cooperation?

Timothy Taylor, “The Blurry Line Between Competition and Cooperation” Concise Encyclopedia of Economics.
Frédéric Bastiat, “A Petition from the Candlemakers about Unfair Competition from the Sun” (1845).
Shawn Klein, “Sportsmanship” [podcasts] and “Competition” [article].
Satire: “Ball-less Soccer in Olympia, Washington” [Video].
Defining: Cooperation, Competition, Rivalry, Adversary, Enemy.

Property Rights

International Property Rights Index. Map image.
The Kelo case: Kelo v. City of New London. Wikipedia summary. Institute for Justice summary.
Alchian, Armen. “Property Rights” Concise Encyclopedia of Economics.

Christina Sandefur and Ari Armstrong, Defense of Property Rights [podcast, 2020].
Journalism: “An entire Manhattan village owned by black people was destroyed to build Central Park.”

Solving Poverty

Peter Singer, “The Duty to Give to the World’s Poor”. [Article]
Garrett Hardin, “Lifeboat Ethics: The Case against Helping the Poor” (1974). [Article]
Countries: Magatte Wade on Senegal. Dominican Republic and Haiti.
How America’s poor can still be rich in stuff. [Article]
Stephen Hicks, “Who Really Wants to Solve the Problem of Poverty?” [Article]
Cases: “The Jitney Potential” [PDF article]. Tennessee Cops Bust Barbers Who Lack High School Diplomas. Nigerians’ Mandatory Paid Vacations. Illinois Daycare Regulations. Baltimore Food Trucks.

Market Entrepreneurs versus Political Entrepreneurs: Public Choice

Burton Folsom, “Political Entrepreneurs vs. Market Entrepreneurs.”
David R. Henderson, ““Rent Seeking.”
William Shughart, “Public Choice” Concise Encyclopedia of Economics.
Russell Roberts, “If You’re Paying, I’ll Have Top Sirloin” (1995).
Rob Norton, “Unintended Consequences” Concise Encyclopedia of Economics.
James M. Buchanan, “Public Choice: Politics without Romance,” Policy Magazine (2003).
Ayn Rand, Atlas Shrugged.

Leadership

Justin Bariso, “Google Spent a Decade Researching What Makes a Great Boss. They Came Up With These 10 Things.” Inc.
Al Gini and Ronald Green, Ten Virtues of Leadership, Wiley, 2013.
Chapter One of Ayn Rand, Atlas Shrugged, contrasting James Taggart and Dagny Taggart.
Niccolò Machiavelli, “On Whether It Is Better to Be Loved or Feared,” The Prince (1513).
The Last Dance. Documentary on Michael Jordan and the Chicago Bulls’ dominance of basketball in the 1990s.
C.S. Forester. Lieutenant Hornblower.

Why does every four-year old say at some point: “You’re not the boss of me!”?

True? “If you don’t love something, you’re not going to go the extra mile, work the extra weekend, challenge the status quo as much.” (Steve Jobs)

“At bottom every man knows well enough that he is a unique being, only once on this earth; and by no extraordinary chance will such a marvelously picturesque piece of diversity in unity as he is, ever be put together a second time.” (Friedrich Nietzsche, Untimely Meditations)

Money

The Bible: “The love of money is a root of all evil.”“You cannot serve both God and money.” Charles Mathewes and Evan Sandsmark, “Being Rich Wrecks Your Soul.” Ayn Rand, “Francisco’s Money Speech,”Capitalism Magazine. [Executive Summary here.]

Profit

Journalism: John Stossel, “Greed,” ABC News Special.
Neera Badhwar, “Free Markets and Business Don’t Require Greed”.
Notes on ABC News Special “Greed” (1999).
Lester C. Thurow, “Profit” Concise Encyclopedia of Economics.
Optional: Stephen Hicks, “Profits — Good, Bad, and Obscene.”

Health Care

Tom Beauchamp, “Manufacture and Regulation of Laetrile”.
Charles Hooper, “Pharmaceuticals” Concise Encyclopedia of Economics.
Marta Podemska-Mikluch, “Broken Insurance System Discourages a Life-Saving Therapy,” and “Insurance Cartel Holds Back Life-Saving Therapy from Thousands of Small Children.”
Rationing. Journalism: British decision no surgery for obese or smokers. Importing pharmaceuticals: “Not from Canada.”
Jason Brennan and Peter Jaworski, “If You May Do It for Free, You May Do It for Money.” Responses by Benjamin Barber and Ilya Somin.
Stephen Wilkinson, “The Sale of Human Organs,” Stanford Encyclopedia of Philosophy. [Article]
Journalism: Institute for Justice, “Everything” [15-minute Video].

Individualism and Collectivism

Stanley Milgram, “Conformity,” excerpt from Obedience to Authority (1974).
Jason D. Hill, Becoming Cosmopolitan.
Journalism: “Individualism a stronger predictor of well-being than wealth, says new study” (Science Daily).

Regulation

Robert Litan, “Regulation”
Stephen Hicks, Blamestorming and “Deregulation caused the financial crisis”.

Unintended Consequences

Rent-seeking

Dispersed Costs and Concentrated Benefits

Bureaucracy

Regulatory Capture

Chris MacDonald and Alexei Marcoux, “Regulatory Capture,” The Concise Encyclopedia of Business Ethics.
IHS, Public Choice series.

Environmental Values

Chelsea Follet, Seven Ways in Which Human Ingenuity Helps the Planet. Human Progress, 2016.
The Love Canal Environmental Disaster.
The Bhopal Chemical Spill Disaster.
Daniel Fernández Méndez, “The Real Relationship Between Capitalism and the Environment.”
George Monbiot, “Meet the ecomodernists: ignorant of history and paradoxically old-fashioned.”
Jeremy Lent, Steven Pinker’s Ideas About Progress Are Fatally Flawed. These Eight Graphs Show Why..
Editorial Board, “When It Comes To The Environment, These Are The Good Ol’ Days.” Investor’s Business Daily.

Whistleblowing

Stephen Hicks, Whistleblowing and Government Secrets, Chelsea Manning edition.

Division of Labor

Adam Smith, “Of the Division of Labour”, Chapter 1 of The Wealth of Nations (1776).

Corruption

Transparency International.
Stephen Hicks, Corruption—Is It Worse in Free or Government-Regulated Markets?

Sweatshops

Benjamin Powell: https://www.youtube.com/watch?v=O2sW2wt3nLU

Child Labor

Jeffrey Tucker, “Let the Kids Work.” FEE.
Antony Davies and James Harrigan, “Child Labor Was Wiped Out by Markets, Not Government,” Words and Numbers.
Lawrence Reed, “Child Labor and the Industrial Revolution.” FEE

Externalities

Michael Munger, “When Is a Potato Chip Not Just a Potato Chip?”

Famous entrepreneurs

Jeff Bezos, Statement to the House Committee on the Judiciary. 2020.
Sam Zell, excerpt from Am I Being Too Subtle? (2017).
J. J. Hill.
P. T. Barnum, ART OF MONEY GETTING, or, Golden Rules for Making Money (1880).
John D. Rockefeller
C. J. Walker, “Madam C. J. Walker: The Ultimate Self-Made Woman.”
Self-Made [miniseries].

Cornelius Vanderbilt
Mary Kay Ash
Ray Kroc. The Founder. 2017 docudrama featuring Michael Keaton as Ray Kroc.
Sam Walton.
Steve Jobs.

Elon Musk and Tesla.
Kaizen interviews.

Forbes series.

Goalcast Life Stories series.

Business Ethics Cases

Chris MacDonald and Alexei Marcoux. Business Ethics Highlights.
Tom Beauchamp, “The FCC’s ‘Fairness Doctrine'”.
Telecommunications and the “‘Fairness Doctrine.'”
John Haring, “Telecommunications” Concise Encyclopedia of Economics.
Tom Beauchamp, “Putting the Squeeze on Citrus Hill Orange Juice” .
Tom Beauchamp, “Hooker Chemical and Love Canal” .
The Love Canal Environmental Disaster.
Tom Beauchamp, “Venture Capital for Rubbernex” .
The Bhopal Chemical Spill Disaster.

Nations

Comparing North and Latin American Economic Performance.
Indices: Index of Economic Freedom, Economic Freedom of the World, and DoingBusiness.org.

Theorists

Mark Hlavac, Nobel Prize-Winning Contributions to Economics.
John Maynard Keynes, The End of Laissez-Faire
Stephen Hicks, Can We Blame Keynes for Keynesianism?
Henry Hazlitt, Economics in One Lesson (1946).
Henry Hazlitt, Economics in One Lesson (1946).
Jean-Baptiste Say.
Karl Marx, Excerpts from The Communist Manifesto .
Max Weber, excerpt from The Protestant Ethic and the Spirit of Capitalism.

Milton Friedman, 10 Excerpts from Free to Choose.

Equality

Justice

Trade.

Free choice for both sellers and buyers. North Face. Bake my cake.

Economic Mobility
Scott Winship, “Economic Mobility in America.“

Takings and Eminent Domain

Little Pink House
Bill of Rights
Kelo
Journalism:

Opportunity Cost

Bastiat, “The Seen and the Unseen.”

Bootleggers and Baptists

Transaction Costs

Michael Munger, “Why We Can’t Break Up With Our Stuff Yet”

The Jones Act

Thomas Grennes, “An Economic Analysis of the Jones Act.”

Financial services

Prices

Michael Munger, “Three Undeniable Problems with Anti-Gouging Laws” AIER, 2018.

Pollution
Marion Tupy, https://humanprogress.org/article.php?p=1745

Government/Business Relations
Zoom and China.

Recommended Other Sources

Strata Academics, Entrepreneurial Virtues.
Michael Munger, Introduction to Political Economy course.
Richard Lorenc, “Twelve Economic Concepts Everyone Should Know.”
Bartley J. Madden, “Reconstructing Your Worldview in Five Minutes”

Progress

Marian Tupy, Human Progress data. Child Mortality Rates over Time. Bret Swanson, “The i-Phone in Your Pocket Is Worth Millions”.The Simon Abundance Index, 2019. The 50 Most Important Life-Saving Breakthroughs in History. Deirdre McCloskey. “The Great Enrichment,” Mercatus, 2020.