John Mauldin’s Prescription for Avoiding Economic Catastrophe

Best-selling author John Mauldin of Mauldin Economics says the EU is only left with choices that range from bad to disastrous. Meanwhile, Republicans and Democrats will have to hold hands and walk off the cliff together to solve U.S. economic problems. In this exclusive Gold Report interview, Mauldin expands on his comments at . . . → Read More: John Mauldin’s Prescription for Avoiding Economic Catastrophe

The resource curse of land ownership

Land ownership in pre-modern India

In India, 50 or 100 years ago, land was a defining feature of wealth. The stock of land generated a flow of income. The landless were low-paid agricultural labour. The landed gentry of rural India were the kings of their heap. They had power, prestige, position, prosperity.

In the . . . → Read More: The resource curse of land ownership

A False Analogy

Robin Hanson makes a predictable mistake:

Similarly, the kinds of innovation activities and intellectual property rights that make sense depend on available institutions and technologies. I’m happy to admit that today intellectual property (IP) is not obviously a good idea. Such property can create large “anti-commons” transaction and enforcement costs that greatly raise . . . → Read More: A False Analogy

How Silly Were J.S. Mill’s Views About Income Distribution?

J S Mill wrote: “The laws and conditions of the Production of wealth partake of the character of physical truths. There is nothing optional or arbitrary in them. … It is not so with the Distribution of wealth. That is a matter of human institution solely. The things once there, mankind, individually or collectively, . . . → Read More: How Silly Were J.S. Mill’s Views About Income Distribution?