Tuesday , October 15 2019
Home / Tag Archives: Virginia Political Economy (page 5)

Tag Archives: Virginia Political Economy

Some Links

My intrepid Mercatus Center colleague Veronique de Rugy has a wish-list for 2019. A slice: Next on my wish list for 2019 is the termination of all crony programs that benefit well-connected and large companies at the expense of everyone else. They include the U.S. Export-Import Bank, everything in the Department of Commerce (apart from the Census Bureau and the Patent and Trademark Office — the two actually mentioned in the Constitution), many of the programs in the Department of Energy,...

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Some Links

Dismayed by the disgrace into which the history profession seems to be headed – witness, for example, ‘historian’ Nancy MacLean’s disgraceful 2017 book Democracy in Chains – economic historian Bob Higgs pleads for pity for economists. Also from Bob Higgs is this post on China: I am old enough to remember when almost everyone believed that the Russians were, as Khrushchev put it, going to “bury” us. Even leading economists such as Paul Samuelson were taken in by such nonsense. Of course,...

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Devastating Review of Nancy MacLean’s Fictional Work “Democracy in Chains”

The December 2018 issue of the prestigious Journal of Economic Literature contains a lengthy, in-depth, and devastating review of Nancy MacLean’s 2017 work of fiction (masquerading as a work of history), Democracy in Chains. The review – titled “The Sound of Silence: A Review Essay of Nancy MacLean’s Democracy in Chains: The Deep History of the Radical Right’s Stealth Plan for America” – is written by Jean-Baptiste Fleury and Alain Marciano. Here’s the abstract: This essay reviews Nancy...

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Some Links

John Tamny takes on Tim Wu’s economically simplistic and historically uninformed call for governments to break up firms that Wu has somehow divined are too big. A slice: Wu writes that “we are conducting a dangerous economic and political experiment,” and that “we have recklessly chosen to tolerate global monopolies and oligopolies in finance, media, airlines, telecommunications and elsewhere, to say nothing of the growing size and power of the major technology platforms.” Actually...

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Quotation of the Day…

… is from page 272 of my late Nobel-laureate colleague Jim Buchanan’s 1978 paper “Public Choice and Ideology,” as this paper is reprinted in Jim’s 1979 collection, What Should Economists Do? (original emphasis): It seems extremely difficult for anyone to adopt a socialist position and at the same time be familiar with and accept the analysis of public choice. Here I use socialist in the sense that this term was employed in the 1930s, when [Oskar] Lange, [Abba] Lerner, and others...

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The Right to Vote Isn’t Remotely Sufficient to Guarantee Freedom or Even ‘Voice’

In my latest column for AIER, I discuss what I believe to be an indisputable fact of reality – but a ‘fact’ that many people, of all political persuasions, resist. A slice: It’s true that you cast a ballot and that your vote was counted. But your vote – your “say” – was only the faintest of muffled whispers. If you voted for the losing candidate, your request for government not to intrude into your life in the ways promised by the victorious candidate is ignored. You must obey the...

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Some Links

My intrepid Mercatus Center colleague Veronique de Rugy puts her finger on the real problem with the health-care market in the United States. A slice: As my colleague Robert Graboyes’ entire research agenda has shown, the focus on the provision of health-insurance coverage has distracted us from a more important health care goal: producing better health for more people at lower cost, year after year. The solution here is innovation. Nothing would affect prices and quality of health care...

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On Formally Amending Constitutions

This month marks the 25th anniversary of the publication, in the Fordham Law Review, of my and Adam Pritchard’s article “Rewriting the Constitution: An Economic Analysis of the Constitutional Amendment Process.” In this article Adam and I use a basic public-choice approach to develop a positive analysis of constitutional amendments, with application specifically to the United States Constitution. Meeting Adam in law school was an extraordinary stroke of good luck in my life, which is...

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Bonus Quotation of the Day…

… is from page xvii of Geoffrey Brennan’s Foreword to the 2000 Liberty Fund reissue of Brennan’s and James M. Buchanan’s 1980 book, The Power to Tax: [T]here is no point in constitutional rules if those rules only prevent wholly benevolent persons from doing good. And there is no point in constitutional rules other than majority rule if majority rule robustly ensures maximally desirable outcomes. Comments

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Some Links

My intrepid Mercatus Center colleague Veronique de Rugy and her co-author Justin Leventhal show that the great geyser of cronyism that is the U.S. Export-Import Bank is still justly called “Boeing’s Bank.” Also from Veronique is this essay on the persistence of government failures. A slice: Since this trade war started, not only has no country lowered its tariffs as a result of the administration’s pressure, but many tariffs have actually gone up. Prices are up, too. Washing machine...

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