Archive for the ‘Economics’ Category

Brexit, free trade, and Enlightenment principles

Monday, August 1st, 2016

NEOLIBERALISM, LIBERTARIANISM, AND FREE TRADE As I read about the rationales given for each side in the recent "Brexit" decision as well as their respective complaints and predictions about the UK's present and future situation, one thing strikes me as particularly funny above all: All the economic and social objections to ...

If it ain’t broke, fix it till it is

Tuesday, March 24th, 2015

That saying doesn't perfectly apply to the broadband internet and telecommunications industry in the U.S., because I think there's plenty wrong with that industry now, but I feel completely certain that the FCC's new net neutrality rules will fail to fix or prevent whatever the advocates of such rules imagined ...

Will Wilkinson on Uber

Saturday, December 20th, 2014

I liked this piece by Will Wilkinson at the Daily Dish on the taxi company Uber, the ignorant reactions to its "surge" pricing, and the calls for it to be dissolved into a worker collective: There’s something about Uber, the popular ride-sharing service, that brings out the nutty in people. During ...

Actually, I think Matt Yglesias is right about this one

Tuesday, June 10th, 2014

In a much-ridiculed Tweet from 2013, Matt Yglesias said that a higher-taxed company will not charge higher prices than its lower-taxed competitor because "Taxes are paid on profits not sales. It's irrelevant to pricing." @Mikexxxx1 No. Taxes are paid on profits not sales. It’s irrelevant to pricing.— Matt Yglesias (@mattyglesias) July ...

Maybe Austrian economics is more mathematical than people think

Saturday, November 9th, 2013

I don't mean quantitatively, with equations and graphs and models, but more philosophically and methodically. At the mathematics blag The Aperiodical, I found this post about the central difference between math and science: Up to a point, it might seem reasonable to explore an issue by finding a bunch of examples and ...

On encouraging the purchase of food

Sunday, June 2nd, 2013

You might have heard some people making fun of Kansas state Senator Jeff Melcher (R) for opposing a decrease in the state sales tax on food because, "It seems to me we are encouraging the behavior of purchasing food and discouraging the behavior of purchasing anything else." Two major, obvious ...

The Saturday Night Live solution to high medical bills

Wednesday, February 27th, 2013

I have an audio file of a 1992 Saturday Night Live skit in which Dana Carvey plays Ross Perot discussing some of his proposals to save the United States from financial ruin. One of the many funny passages goes: Let's take the issue of waste. You know, I find it fascinating ...

Liberal hypocrisy on the economy

Friday, December 14th, 2012

We’ve been hearing for four years how the poor economy and slow recovery under Barack Obama are not his fault because George W. Bush screwed it up so badly for eight years before him. I don’t doubt that’s true, just as I don’t doubt Obama’s and the Democrats’ policies are ...

Arianna Huffington on short-term solutions to long-term problems

Thursday, December 13th, 2012

I liked this column by Arianna Huffington about the fiscal cliff face-off and the irrelevance it has to our deeper, long-term problems of employment and growth: 'Slightly Above Zero': A Slogan for Our Age of Diminished Expectations. I never thought of her as an astute political commentator, but this is ...

“Insider trading” is not wrong and shouldn’t be illegal

Sunday, December 2nd, 2012

Federal prosecutors in New York recently charged hedge fund manager Mathew Martoma with using illegal "inside tips" to help his hedge fund make $276 million in illegal profits or avoided losses. He received some unpublished data about the ineffectiveness of an Alzheimer's disease drug, so he sold all possible stock ...

The social function of price rationing

Monday, May 21st, 2012

I liked this article about marginal pairs and the price system by Daniel J. Sanchez, especially the last section, "The Social Function of Price Rationing": Why is it important that markets clear? Why is the market-price system, characterized as it is by competitive bidding, important? Of all the possible standards for ...

Bob Murphy interview on the Peter Schiff Show

Tuesday, April 10th, 2012

I liked several things Bob Murphy had to say in his recent appearance on the Peter Schiff Show podcast, which was guest-hosted by Tom Woods. The two main topics they discussed were the contradictions between Keynesians and Austrians even though they have the same empirical data and the justice of ...