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The American Economic Association (AEA) takes pride in celebrating its founder Richard T. Ely. This pride is strange, given the character of Ely’s thought, which is revealed in The Independent Review article “The Shaping of a Future President’s Economic Thought: Richard T. Ely and Woodrow Wilson at ‘The Hopkins’” by Gary M. Pecquet and Clifford F. Thies, as well as the Econ Journal Watch article “Richard T. Ely: The Confederate Flag of the AEA?” by Clifford F. Thies and Ryan Daza. In this podcast, Thies is interviewed by the economist Lawrence H. White and explores Ely’s ideas, values, and impact. Thies is the Eldon R. Lindsay Chair of Free Enterprise and Professor of Economics and Finance at Shenandoah University.
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In June 2005, the U.S. Supreme Court ruled in Kelo v. New London that local governments may force property owners to sell out and to make way for private economic development, even if the property is not blighted. In response, many states have passed legislation and proposed amendments to their state constitutions to block this unprecedented government assault on the rights of property owners.
