Friday , October 18 2019
Home / Cafe Hayek

Cafe Hayek

Commerce Is Still Doux

In my most-recent column for the Pittsburgh Tribune-Review, I offer what I believe to be legitimate reasons to question the claim that the U.S. government leaving Americans free to trade with the Chinese people supports the beasts in Beijing and their tyranny. A slice: Precisely because free trade and free markets enrich ordinary people in China, these people gain greater stakes in keeping China’s trade and markets free. The Chinese people come to rely more on the commercial ties that...

Read More »

Quotation of the Day…

… is from page 789 of Leo Strine’s excellent 2015 Wake Forest Law Review article, “The Dangers of Denial: The Need for a Clear-Eyed Understanding of the Power and Accountability Structure Established by the Delaware General Corporation Law“: After all, Bono, a hero of the left, is the leader of the world’s most famous Dutch rock band, having incorporated U2 in the Netherlands in order to escape paying higher taxes to his homeland, Ireland. DBx: Some academics these days – also heroes of...

Read More »

Bonus Quotation of the Day…

… is from page 55 of Armen Alchian’s and William Allen’s Universal Economics (2018; Jerry Jordan, ed.); this volume is an updated version of Alchian’s and Allen’s magnificent earlier textbook, University Economics: It is often argued that intermediaries like wholesalers, retailers, sales agents, and advertisers exploit the ignorance of customers. That is true in the same way a teacher exploits the ignorance of students, doctors exploit the ignorance of patients, and authors the ignorance...

Read More »

Lies, Damn Lies, and…

Here’s a letter to a sympathetic patron of Cafe Hayek: Mr. Fulton: Thanks for your e-mail. I did indeed read in today’s Wall Street Journal about the decline in U.S. manufacturing output, and I agree that this decline likely has much to do with Trump’s war on Americans who trade with foreigners. But I’ll refrain from blogging on it. There’s a larger monster that lurks, one that I don’t wish to feed. Indeed, I want to do my part to slay this beast. This larger monster is the too-frequent...

Read More »

Mises vs. Marx

The supremely talented, and learned, filmmaker John Papola does it again, this time with a rap video pitting Ludwig von Mises against Karl Marx. Enjoy! And learn. …..I love the cameos by some good friends. Comments

Read More »

Pittsburgh Tribune-Review: “Costs & benefits”

In this July 28th, 2005, column for the Pittsburgh Tribune-Review I warn against hotheaded, poorly thought-out responses to terrorist attacks. You can read my warning beneath the fold. Costs & benefits If retaliation for terrorist attacks is poorly thought out, it will be poorly aimed. And if it is poorly aimed, then three regrettable consequences follow. How should a government respond to a barbaric and unjustified terrorist attack such as the suicide bombings in London? The answer...

Read More »

Some Links

Richard Ebeling identifies the poisonous root of the NBA’s recent kowtowing to the authoritarians in Beijing. In this slice, Richard makes the solid point that two wrongs don’t make a right: In the hysteria of an American political election season, the worst thing that could happen would be if politicians and pundits now propose to legislate or regulate the response by the NBA or the Houston Rockets to the Chinese government. With all the chatter about the Chinese attempting to abridge...

Read More »

Quotation of the Day…

… is from page 136 of GMU Econ alum Edward Stringham’s important 2015 Oxford University Press book, Private Governance: The most personal form of private governance is individual self-governance or internal moral constraints. Ignored by strict neoclassical economists, the importance of individual self-governance or internal moral constraints has been discussed by writers from Adam Smith to Immanuel Kant and Leo Tolstoy. Internal moral constraints are rules that people choose to follow...

Read More »

Some Links

My intrepid Mercatus Center colleague Veronique de Rugy isn’t favorably impressed by Trump’s new kinda-sorta-maybe trade deal with China. Megan McArdle isn’t favorably impressed with Elizabeth Warren’s knowledge of health-care economics. Vincent Geloso isn’t super-impressed with the economics that was most-recently awarded a Nobel Prize. A slice: First, the narrowing of the focus provides results that are not that surprising: more capital makes small firms more productive; better food...

Read More »

Bonus Quotation of the Day…

… is from page 230 of Mike Munger’s excellent essay “Final Thoughts on Egalitarianism,” which is the conclusion to the new 2019 volume, In All Fairness (Robert M. Whaples, Michael C. Munger, & Christopher J. Coyne, eds.): Power doesn’t stay where you put it. It expands, and corrupts, other activities and other government officials. Comments

Read More »