Does Piracy Harm Sales?

That’s the question asked by Michael Smith.  He doesn’t do a very good job answering:

My colleague, Rahul Telang, and I recently finished a paper reviewing the academic research on the impact of piracy on sales. Our review finds that, when viewed as a whole, the academic literature strongly suggests that piracy harms media . . . → Read More: Does Piracy Harm Sales?

Positive Signs

From the Grey Lady:

LAST week, Attorney General Eric H. Holder Jr. proclaimed in a speech that when it comes to fighting financial fraud, the Obama administration’s “record of success has been nothing less than historic.” Such self-congratulation is not only premature, but it also reveals a troubling lack of understanding about what is . . . → Read More: Positive Signs

Greg Mankiw: Ignoramus or Liar?

How else to explain this nonsense:

The anti-SOPA crowd argues that this is a matter of basic liberty. But it’s not. In a free society, you don’t have the freedom to steal your neighbor’s property. And that should include intellectual property. Moreover, it is the function of the state to enforce those rights. We . . . → Read More: Greg Mankiw: Ignoramus or Liar?

Fraud

Pay close attention to this chart: [Source] This is a problem. As a libertarian, I generally view regulation as pointless, needlessly expensive, counterproductive, and anti-liberty. As such, I oppose a good portion of government interference in the economy. However, committing fraud is not simply a matter of failing to comply with ticky-tack regulation. Fundamentally, . . . → Read More: Fraud

Identity Crisis: The Numbers Behind Identity Theft

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Fake Tungsten Gold Found

When one goes to buy gold they want real gold, not some cheap substitute like a fake tungsten gold bar. There has been a lot of rumor, neither credible nor verifiable sources, about bars containing both gold, the Ancient Metal of Kings and tungsten, the ‘heavy stone’.

Just like a $100 bill costs about . . . → Read More: Fake Tungsten Gold Found

Should We Expect the Rules of a Good Society to be Good for Everyone?

In my view, we should expect the rules of a good society to have the assent of nearly everyone but that does not mean that these rules are good for everyone. In particular, the law of liberty – preventing people from interfering with the protected domain of others – cannot be expected to be . . . → Read More: Should We Expect the Rules of a Good Society to be Good for Everyone?

Insane Psycho-Sociopathic Court Economists

Gregory Mankiw, professor of court economics at Harvard and economic advisor to President George W. Bush, proposed negative interest rates in a recent New York Times article.  Mike Shedlock, a prominent financial commentator has appropriately weighed in 19 March with Time For Mankiw To Resign and again on 21 March with Economist Mankiw Defends Policy . . . → Read More: Insane Psycho-Sociopathic Court Economists