Sunday , August 25 2019

Potpourri

Summary:
==> At IER I make a provocative claim: Economists have been “useful idiots” for the environmental socialists. ==> This is a really neat Forbes article from 2 years ago, that the mysterious Von Pepe sent me. An excerpt: Stating the equation a little differently illustrates the principle a little differently: ‘Assets = liability + capital’, which is to say that everything a company owns represents either an obligation to a creditor or back to the owner.If this sounds theological to you, that’s not your imagination. Much of the Bible is written with the steward/owner mindset in the center. Israel was seen as the steward of God’s land, of His law, even of His name.Jesus’ parables quite often center around the relationship between steward and owner. Paul’s

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Robert Murphy writes Potpourri

==> At IER I make a provocative claim: Economists have been “useful idiots” for the environmental socialists.

==> This is a really neat Forbes article from 2 years ago, that the mysterious Von Pepe sent me. An excerpt:

Stating the equation a little differently illustrates the principle a little differently: ‘Assets = liability + capital’, which is to say that everything a company owns represents either an obligation to a creditor or back to the owner.

If this sounds theological to you, that’s not your imagination. Much of the Bible is written with the steward/owner mindset in the center. Israel was seen as the steward of God’s land, of His law, even of His name.

Jesus’ parables quite often center around the relationship between steward and owner. Paul’s letters repeatedly invoke the idea of stewards who hold assets in trust. “… It is required in stewards, that a man be found faithful.” (1 Corinthians 4:2 KJV). Quite a bit of the Pauline epistles are taken up with matters of accounting: Alms to be collected, accounted for, and distributed from the church of one city to the church of another city. This was something quite rare in the ancient pagan world and required new forms of financial accountability. Creating a mutual aid and welfare society on a network basis, rather than one like Rome’s top-down welfare state, was a financial innovation of incredible importance.

Robert Murphy
Christian, Austrian economist, and libertarian theorist. Research Prof at Texas Tech and author of *Choice*. Paul Krugman's worst nightmare.

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