Working Papers
The Anatomy of Capital Returns over the Very Long Run: Germany, 1465–2025
Economics Working Paper 26128
November 6, 2026
A visiting scholar at the Henry Salvatori Center at Claremont McKenna College, William Voegeli is a senior editor of the Claremont Review of Books and the author of Never Enough: America’s Limitless Welfare State.

William Voegeli
Working Papers
Economics Working Paper 26128
November 6, 2026
Articles
President Ronald Reagan’s speech in June 1987, delivered in the shadow of the Berlin Wall, is immortalized because of the exhortation, “Mr. Gobachev, tear down this wall.”
November 6, 2026
Articles
How do prices work in functioning markets?
November 4, 2026