The concept of regime uncertainty is far from the only important contribution to political economy made by Robert Higgs. For example, he earlier explained the ratchet effect in which the state uses a crisis to accumulate power and, while after the crisis passes state intervention decreases, it always settles at a level above what it was before the crisis.
Anyone wanting to learn more about the life and work of Higgs should treat themselves to his interview on C-Span's In-Depth. This program originally aired over a year ago, but many may have never seen it. You can watch the three-hour program in its entirety by clicking here. If you are looking for something worthwhile to watch over the weekend, this is it!
In this interview Higgs provides much insight on a variety of topics related to economics, economic history, and the political process. He also serves as a model for anyone wanting to defend an unpopular conviction without resorting to bitterness, name calling, derision, or becoming mean-spirited.