Friday , September 21 2018
Home / Tag Archives: Virginia Political Economy

Tag Archives: Virginia Political Economy

Quotation of the Day…

… is from page 6 of Deirdre McCloskey’s September 2018 manuscript “Raising Up Private Max U,” which is forthcoming in The Ethical Formation of Economists (Wilfred Dolfsma and Iona Negru, eds.): The problem is that ethics in economics has been thoughtlessly attached to Rousseau’s notion of a general will.  Deep in left-wing thought and in a good deal of right-wing thought about the economy is the premise, as Isaiah Berlin once put it, that government can accomplish whatever it rationally...

Read More »

Some Links

Jeffery Tucker is correct: to work seriously and to good effect to change the world requires patience. A slice: Change doesn’t usually come about through threats, screaming, signs, and intimidating demands, much less unhinged dreams of how you think the world should work. If the movements gathering around the country to demand this and that in front of the Supreme Court reduced their ambitions to immediate family and friends, they might discover the truth of what [Jordan] Peterson is...

Read More »

Some Links

George Selgin clearly explains the controversy over TNB. America has an imperfect record of resisting homegrown tyrants. George Leef writes of business schools being invaded by “social justice” teachings. Richard Ebeling is correct: macroeconomic aggregates hide more than they reveal. Joe Carter adds his clear voice to those who lament how hurricanes stir up the broken-window fallacy. And read also Rick Newman. Speaking of natural disasters, here’s Dan Mitchell’s guide to everything you...

Read More »

Some Links

Thomas Firey explains that imports increase GDP. And import restrictions not only reduce GDP but are also not generally “pro-business.” Deirdre McCloskey reviews Patrick Deneen’s Why Liberalism Failed. A slice: True liberalism by itself is, as Adam Smith said, “the liberal plan of [social] equality, [economic] liberty, and [legal] justice,” then leaving people alone, with a little help in the form of a modest national defense and some subsidies to elementary education. By contrast,...

Read More »

Some Links

Jeffrey Tucker ponders – with help from Mises, Orwell, and Ernst Renan – Yoram Hazony’s defense of nationalism. My GMU Econ and Mercatus Center colleague Pete Boettke writes about the bitter logic of political choice. Here are questions that George Will has for Brett Kavanaugh. A slice: Dissenting in Lochner, Oliver Wendell Holmes said the Constitution “does not enact Mr. Herbert Spencer’s ‘Social Statics,’ ” a book advocating laissez faire economic policies. However, because laissez...

Read More »

Bonus Quotation of the Day…

… is from Kevin Williamson’s brilliant smack-down of Elizabeth Warren’s most-recent spasm of lunacy: It is remarkable that people who are most keenly attuned to the self-interest of CEOs and shareholders and the ways in which that self-interest influences their decisions apparently believe that members of the House, senators, presidents, regulators, Cabinet secretaries, and agency chiefs somehow are liberated from self-interest when they take office through some kind of miracle of...

Read More »

Bonus Quotation of the Day…

… is from page 94 of Razeen Sally’s excellent 1998 volume, Classical Liberalism and International Economic Order: All the classical economists began their analyses with a theoretical statement on the static and dynamic gains that issued from unimpeded cross-border trade. Nevertheless, their clinching argument against the imposition of trade barriers relied primarily on the ‘political economy’ of empirical and policy observations. DBx: Protectionists find unjustified comfort in some...

Read More »

Quotation of the Day…

… is from page 141 of the 1994 re-issue of Charles Murray’s 1988 volume, In Pursuit: Of Happiness and Good Government (original emphasis): The ubiquitous “unintended consequences” that have been found by the evaluators of social programs would not have mystified Publius. Constituencies of persons, Publius already knew, would seek to use the reforms for their own ends. They would form factions, bringing pressures to bear on the politicians who design the policies and the bureaucrats who...

Read More »

Quotation of the Day…

… is from page 180 of Razeen Sally’s important 1998 book, Classical Liberalism and International Economic Order (footnote excluded): Such ‘political market failure’ is even more characteristic of foreign economic policy than domestic economic policy. Executive discretion, as well as weak parliamentary and judicial control, characterise foreign economic policy-making, at least in part because information on foreign economic policy is less readily available to the legislature, the courts...

Read More »

Beware All Who Invoke ‘the Will of the People’

In my latest column in the Pittsburgh Tribune-Review I question the notion of the “will of the people.” A slice: Suppose that you prefer to have 1,000 fewer of your tax dollars spent on health care in order to have 1,000 more spent on national defense, while I have the opposite preference. What’s the correct policy? What’s the “will” of the two of us collectively? There is no obviously correct answer. Now add your cousin to our small group. Suppose that he prefers to have 10 fewer of his...

Read More »