Another Greedy Capitalist

Her name is Gina Rinehart:

Now, the Australian mining heiress, worth $19 billion and earlier this year thought to be the world’s richest woman, has sparked another controversy in her latest column in Australian Resources and Investment magazine. (Yes, I am a registered reader online.) Rinehart rails against class warfare and says the non-rich . . . → Read More: Another Greedy Capitalist

Quote of the Week

As is often the case, it’s from dL, author of the Liberale et Libertaire blog. And the reason it’s the quote of the week is that brings together several things I’ve been thinking about in a way that I hadn’t managed to yet:

Our age of State Capitalism-intertwined in a million different knots with a . . . → Read More: Quote of the Week

Market Welfare

In reference to meteorites:

Approximately 5,000–17,000 meteorites plummet to earth every year—some the size of a washing machine, some as small as a golf ball. But when a particularly rare and scientifically valuable specimen like Tissint lands outside Antarctica, scientists and institutions such as the Natural History Museum must jockey with private collectors for . . . → Read More: Market Welfare

Allocating Scarce Resources

If only there was some way to solve this problem:

People struggling with headaches, toothaches, and even feelings of loneliness are calling 911 — often several times a day.

This chronic abuse is overwhelming what industry experts call the 911 “safety net” system. It’s also wasting what could add up to billions of dollars . . . → Read More: Allocating Scarce Resources

The Inevitable Economic Decline

Bret Stephens:

Many of you have been reared on the cliché that the purpose of education isn’t to stuff your head with facts but to teach you how to think. Wrong. I routinely interview college students, mostly from top schools, and I notice that their brains are like old maps, with lots of blank . . . → Read More: The Inevitable Economic Decline

Clean Water

Here’s a summary of a new research paper that claims the government regulation has had positive effects on the environment:

Levels of copper, cadmium, lead and other metals in Southern California’s coastal waters have plummeted over the past four decades, according to new research from USC.

Samples taken off the coast reveal that the . . . → Read More: Clean Water

The Autism of Economics

In a prior post, I offered an alternative explanation for socialism’s failure. In doing so, I critiqued economists that defend the free market on the grounds of monetary incentive structure of being too narrow in their thinking. While monetary incentives play a role in human behavior, they are not the only motivator, and are . . . → Read More: The Autism of Economics

Why Not Sell?

Alex Tabarrok, in reference to encouraging people to become organ donors:

I am not in favor of messing with the insurance system for this purpose but have argued for a more direct approach. Under what I call a “no-give, no-take” rule if you are not willing to sign your organ donor card you go . . . → Read More: Why Not Sell?

Correcting Markets

From the Mises Institute:

And so began the downward trend in America’s free market in medicine. With fewer medical schools — and thus fewer doctors — wages can be kept higher than would exist in a market dominated by free enterprise and the unobstructed entry into practice. Consumers, who ordinarily determine the success of . . . → Read More: Correcting Markets

Spot the Fallacies

I count three:

Capitalism is currently undergoing its most serious crisis since the Great Depression. The solutions offered by the Right are the same as they were then: Do nothing and let the natural cycle of business (the invisible hand of the free market) straighten itself out. Well, that’s not going to work. Hoover . . . → Read More: Spot the Fallacies