Headbook: Medical Marijuana Comes Out of the Gray

It seems like cannabis is always on the leading (and sometimes bleeding) edge of social evolution, which is why I find it interesting — as a market anarchist, I often see cannabis trends as indicative of the whole “building the new society in the shell of the old” approach.

Just in the last 15 . . . → Read More: Headbook: Medical Marijuana Comes Out of the Gray

Public Goods

Let’s play spot the fallacies:

We do not just have governments in order to rob Peter to pay Paul. We have governments because there are things they can provide that the private sector is either unable or unwilling to provide effectively – courts, police, schools, roads, other infrastructure, etc. Conservatives focus so much on . . . → Read More: Public Goods

My proposal to Congressman Joe Heck

“The art of economics consists in looking not merely at the immediate, but at the longer effects of any act or policy; it consists in tracing consequences of that not merely for one group, but for all groups.” -Henry Hazlitt

Congressman Heck is trailing Mitt Romney in the valid solutions . . . → Read More: My proposal to Congressman Joe Heck

On Wealth Inequality

Joseph Stiglitz:

Inequality is bad for growth, stability and efficiency. … Inequality peaked both before the Great Depression and before the Great Recession, and it’s not an accident. So basically, when we have a lot of inequality, demand goes down. … All this inequality was offset by creating a bubble. The bubble allowed people . . . → Read More: On Wealth Inequality

Book Review

Like A Financial Analysis of al-Qaeda in Iraq, this book is rather technical and highly academic in approach. Unsurprisingly, it is a rather boring read for the most part. Furthermore, the book isn’t particularly insightful.

There were some who apparently claimed, presumably around the time this book was written, that capitalism was responsible for . . . → Read More: Book Review: South Africa’s War Against Capitalism by Walter E. Williams

Worst of Both Worlds

Tom Clougherty, on the Independent Commission on Banking’s recent proposals:

I hope this isn’t the case, but if it is, it probably suggests a far more radical regulatory approach than the Independent Commission on Banking has considered. It might even point in the direction of ‘narrow’ or ‘limited purpose’ banking, which would involve imposing . . . → Read More: Worst of Both Worlds

Restraining Capitalism

I was talking to a preacher buddy of my dad’s a while ago, discussing my future plans, and I told him how I wanted to be an economist.  Being a free-market apologist who had the audacity to challenge him on his favorable views of unions (from a historical perspective), he felt compelled to tell . . . → Read More: Restraining Capitalism

Jamestown

Apparently some Democrats object to the idea that Jamestown was run as a socialist enterprise, as Dick Armey pointed out. They say “Oh, no Jamestown was established as a capitalist venture to make a profit.”  Well, that’s true, but internally (which is the only thing that matters) it was run in the same way . . . → Read More: Jamestown

The Joys of Central Planning

When central planners take the outcome away from the self-organising system of the market economy, we often get strange outcomes. At the end of June 2009, 32 foreign banks were in India with 293 branches. In addition, 43 foreign banks were in India through `representative offices’. (Source: RBI Annual Report. Hat tip: Radhika Pandey).

In . . . → Read More: The Joys of Central Planning

Support for Free Markets and Globalisation in India

On 5 October 2007, I had written a blog post Does urban India favour liberal economics?, where I had used survey data released by the Pew Institute, which measures attitudes of roughly 45,000 people worldwide with roughly 2,000 in India. Their sampling mechanism has an urban bias.

Today, I saw current information, and cross-country . . . → Read More: Support for Free Markets and Globalisation in India