Wednesday , August 21 2019
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Tag Archives: Regulation

21st century problems

I recently came across an amusing story out of San Francisco, which nicely illustrates the fact that the 20th century is over.  The San Francisco school board is considering painting over a set of murals depicting the life of Washington: More than 100 people crammed shoulder to shoulder in a high school entryway, gazing up at the scenes of George Washington’s life. Here was the first president in Mount Vernon, flanked by the slaves he owned. There he was again,...

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Some Links

Jeffrey Tucker sets straight the economically and factually misinformed Pope Francis I. A slice: Let me offer my own definition of libertarianism. It is the political theory that freedom and peace serve the common good better than violence and state control, thus suggesting a normative rule: societies and individuals must be left unmolested in their associations and commercial dealings so long as they are not threatening others. My intrepid Mercatus Center colleague Veronique de Rugy is...

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Bonus Quotation of the Day…

… is from page 133 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 (emphasis added): The main argument of the Wealth of Nations remains to this day a valid reason for leaving trade free, and the main argument is that interference only makes bad worse. This has been forcibly repeated by post-Malthusian economists, who have argued that our present system of private...

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Some Links

My intrepid Mercatus Center colleague Veronique de Rugy exposes Trump’s incoherence on trade. A slice: You see, one important fact that eludes our president is that the main way for foreign investors to acquire the dollars they invest in the United States is to sell us stuff. They send us goods that we want, and in exchange, we send them dollars. The beauty of the whole system is that the dollars we send across our northern and southern borders as well as abroad come back home when...

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Fishy

My long-time and very dear friend Kerry Dugas – we met in 1972 as freshmen at Archbishop Shaw High School – works at Sysco Foods in New Orleans. He just wrote to inform me of a new piece of protectionist legislation enacted by the solons of Louisiana. It sports the informal moniker “Crawfish and Shrimp Menu Labeling Act.” Here’s the text of Kerry’s e-mail to me: Up until now, patrons of Louisiana restaurants were ignorant victims of sinister imported seafood merchants. A big thanks to...

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Reinhardt’s Misleading Data on Drug Price Differences

Timothy Taylor, the Conversable Economist, posted today on some highlights from the late Uwe Reinhardt’s last book, Priced Out: The Economic and Ethical Costs of American Health Care. He, following the lead of the Milken Institute Review in its excerpt of the book, shows charts comparing the cost of various health care goods and services in the United States to the cost in other countries. The bottom line, which will surprise no one who has followed the issue, is...

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Corporations are Private

Here’s a letter to a reader of my blog: Mr. F____ Thanks for your e-mail in response to my criticism of Dennis Prager’s call for the U.S. government to suppress the freedom of expression of private companies such as Google. You write: “[O]ne persnickety point: Google is a private enterprise but a public company, albeit with two classes of shares.  It must answer to shareholders. Given the dual share structure, it is unlikely that shareholders could dramatically alter policies.  But as a...

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Quotation of the Day…

… is from pages 258-259 of my late Nobel-laureate colleague James Buchanan’s 1991 paper “The Minimal Politics of Market Order,” as it is reprinted in Choice, Contract, and Constitutions (2001), which is volume 16 of The Collected Works of James M. Buchanan: Bureaucrats who possess discretionary authority to allocate or distribute access to economic value will, of course, have opportunities for pecuniarily beneficial trades for the simple reason that the allocative-distributive authority...

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Freedom Is Not Protected By Its Violation

Here’s another letter to “proud Trump man” Nolan McKinney: Mr. McKinney: You label me “dogmatic” for opposing Dennis Prager’s and some other conservatives’ call for government to more intrusively regulate Google, YouTube, and other tech companies. And you allege that I’m “naïve in not seeing [that] these leftist behemoths are suppressing [the expression of] ideas which are crucial for limited government.” In other words, you think me to be dogmatic and naïve for opposing government...

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Some Links

George Will eloquently explains that the ideas and ethics of ‘conservative nationalists’ such as Oren Cass and Tucker Carlson differ from those of ‘progressives’ such as Elizabeth Warren and Bernie Sanders only superficially. Here’s Will’s opening paragraph: Regimes, however intellectually disreputable, rarely are unable to attract intellectuals eager to rationalize the regimes’ behavior. America’s current administration has “national conservatives.” They advocate unprecedented expansion...

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