Tuesday , October 15 2019
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Tag Archives: Curious Task

Bonus Quotation of the Day…

… is from page 57 of Peter Drucker’s insightful Winter 1984 California Management Review article, “The New Meaning of Corporate Social Responsibility“: Paradoxically, government which finds it hard to start small and to be patient, finds it even harder to abandon. Every program immediately creates its own constituency, if only the people who are employed by it. It is easy, all too easy, for modern government to give. It is all but impossible for it to take away. The rule for failures is...

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Quotation of the Day…

… is from page xxv of George Will’s 2019 book, The Conservative Sensibility: The progressives’ indictment is that the [American] Founders’ politics is cramped and uninspiring because it neither aspires to, nor allows for, the integration of the individual’s spiritual needs and yearnings with the individual’s political identity and activities. To this indictment the American conservative’s proper response is a cheerful, proud plea of guilty. The world has suffered much, and still suffers,...

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Bonus Quotation of the Day…

… is from page 13 of Deirdre McCloskey’s August 2019 manuscript titled “Bettering Humanomics: Beyond Behaviorism and Neo-Institutionalism” (footnote deleted): Monopoly or inequality or externality or informational asymmetry “exist,” to be sure. Some economists have been vigorous in measuring their local effects, on telephone pricing, say, or the imperfect market for defective horses or automobiles. But their national significance has been nothing like established in economic measurement....

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Emergent Order

Please watch this remarkably wonderful video on spontaneous order. Produced by the Institute for Humane Studies at George Mason University, it features Duke University economist Bruce Caldwell. Comments

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Bonus Quotation of the Day…

… is from page 145 of my GMU Econ colleague Larry White’s excellent paper “The Conflict Between Constitutionally Constraining the State and Empowering the State to Provide Public Goods,” which is chapter 7 in Richard E. Wagner, ed., James M. Buchanan: A Theorist of Political Economy and Social Philosophy (2019): It is rather that we should not forget, in moving our attention from blackboard constructions to the phenomena of the world outside the classroom, that the benefits of any...

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Quotation of the Day…

… is from page 132 of Deirdre McCloskey’s excellent 1990 volume, If You’re So Smart: The Narrative of Economic Expertise: [T]he model of the future is no substitute for the entrepreneur’s god-possessed hunch. DBx: Wishing a very happy birthday to the great Professor McCloskey! Comments

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Some Links

Boston Globe columnist Jeff Jacoby writes insightfully about the additional calamities unleashed by “anti-price-gouging” legislation. A slice: Laws against “gouging” add to the suffering caused by hurricanes, floods, and other disasters. Rather than prevent anti-social behavior, they encourage it. And far from ensuring that supplies remain available at prices residents can afford, they all but guarantee more painful shortages. Price controls are always bad policy, because they interfere...

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Quotation of the Day…

… is from page 282 of George Will’s 2019 book, The Conservative Sensibility (original emphasis): Government uses redistribution to correct social, meaning market, outcomes that offend it or some of its powerful constituencies. But government rarely explains, or perhaps even rarely recognizes, the reasoning by which it decides why particular outcomes of consensual market activities are incorrect. When taxes are levied not merely in order to efficiently fund government but to impose this...

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Bonus Quotation of the Day…

… is from pages 134-135 of the 2000 Liberty Fund edition of Frederic William Maitland’s profound 1875 dissertation at Trinity College, Cambridge, A Historical Sketch of Liberty and Equality: Adam Smith has remarked that the laws made about religion and commerce have been peculiarly bad, and we may notice that laws on these two subjects were the first laws condemned as essentially going beyond the proper province of law…. There are no subjects with which the statesman has to deal, the...

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Bonus Quotation of the Day…

… is from page 729 of the 2007 Liberty Fund edition (Bettina Bien Greaves, ed.) of Ludwig von Mises’s 1949 treatise, Human Action: The reformers, in exhorting people to turn away from selfishness, address themselves to capitalists and entrepreneurs, and sometimes, although only timidly, to wage earners as well. However, the market economy is a system of consumers’ supremacy. The sermonizers should appeal to consumers, not to producers. They should persuade the consumers to renounce...

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