The curious task of economics is to demonstrate to men how little they really know about what they imagine they can design. – F.A. Hayek
Posted in Corporatism, Extended Order on Apr 8th, 2008
the typical trucker of the “typical” politician? It’s not even a close competition! This interesting article from the Quad-City Times illustrates why. Truckers appreciate and understand Hayek and Leonard Read: Hills then removed his wristwatch, using it to explain his point of view: “Every piece of this watch was trucked from somewhere. If you can’t [...]
Posted in Politics, Standards of Living, You Can't Have it Both Ways on Apr 7th, 2008
A recent news story (I link to it at the very end of this post) brings to mind two Journey songs (yes, I was/is a Journey fan), “Anyway you want it,” and “Don’t Stop Believing”. Imagine the reaction if I got on the news today and exclaimed,
Posted in Flotsam and Jetsam on Apr 5th, 2008
I forget the name of that website? How much does your company spend on meetings? The real March Madness. A government site I like!
Posted in Ultimate Resource on Apr 4th, 2008
That was in the gift shop. A little earlier I finished reading the following placquard: “The slash-and-burn agricultural practice of these early ____ meant they had to move their villages every 15 to 25 years to find fresh sources of fertile soil, firewood, and game. This has made it difficult to arrive ata definite sequence [...]
Posted in Corporatism on Apr 3rd, 2008
Learn about how the Fed has completely over-reached its statutory authority and is laying waste to the U.S. Constitution. We The People don’t seem to understand, or care, for that matter.
Posted in Economic Illiteracy on Apr 3rd, 2008
The daily wages of a mason paid in local currency without board furnished in Massachusetts in 1631: 2 shillings The daily wages of a mason paid in local currency without board furnished in Massachusetts in 1670: 2 shillings Two shillings in both 1631 and 1670 would have been worth approximately $12.00 in 2002 $US.
Posted in Regulation on Apr 2nd, 2008
It is a well-known fact that union membership and coverage has declined substanially over the 20th century. For exampe, in 1973 nearly a quarter of all wage and salary workers were unioin members (it was far higher in earlier years – for example it seems to have hit 37 percent in 1960, but the data [...]
Posted in Macroeconomics on Apr 1st, 2008
In many ways, today’s prevailing economic conditions are unusual given the signs of an economic slowdown. Interest rates are far below historical averages, real productivity growth remains strong, credit appears to be widely available – the “credit-crunch” notwithstanding, and the national unemployment rate is well below its post-WW II average. Is this low unemployment rate [...]
Posted in Economics Problems on Apr 1st, 2008
When you know economics has gone off the deep end: “The Economics of Brushing Teeth“
Posted in Taxation on Apr 1st, 2008
A look at where your tax dollars go.
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