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 Government Thuggery, Paternalism on Aug 26th, 2010
As if the guys in Albany were elected just to prove everything I say on this site correct: State tax officials, under orders from cash-strapped Albany to ramp up their audit and compliance efforts, have begun to enforce one of the more obscure distinctions within the state’s sales tax law. In New York, the sale [...]
Posted in Classical Liberalism on Aug 26th, 2010
Here is a quote from the son of the (then) leader of the Communist world, Nikita Kruschev (who ruled the USSR from 1953 to 1964 following the terror of Stalin): I had tried and failed to understand what exactly communism was…. I had tried to get Father to shed light on the nature of communism, [...]
Posted in Standards of Living on Aug 25th, 2010
I have very little tolerance for public service announcements on a variety of grounds. One of those grounds is a Buchanan-Tullock ground. I do not view them as harmless little information packets intended to help us live better lives. Perhaps I am too cynical, but there is no question that some group is typically benefiting [...]
Posted in Price System on Aug 24th, 2010
Did you ever wonder why some units of produce are priced per unit while others are priced per pound? For example, the cucumbers here are priced generally a 99 cents each, or more if they are enormous. Corn is priced at 4 per dollar or 5 per $2.00 or some other per unit price based [...]
Posted in Competition, Regulation on Aug 23rd, 2010
With the latest egg scare coming to a head, I am sure that you will be reading plenty of commentary on how we need the FDA to take a greater role in food oversight, and that the powers of the FDA should be expanded. Of course, a crisis is a great opportunity to get people [...]
Posted in Flotsam and Jetsam on Aug 23rd, 2010
I spent way too much time reading economics, history, political theory, philosophy and all things related to learning more and teaching economics. But at the same time, I try to have at least one book or article going at all times that are far removed from it. Last month one of those books was Lenore [...]
Posted in Corporatism, Property Rights on Aug 22nd, 2010
It is illegal in Maine for retailers to sell 6 gallons of milk and give away a 7th for free. The hubris behind the whole program (similar ones operate in many states) is astonishing. The grocery store had to go to the milk czar to ask for permission to offer an in-store promotion. Under what [...]
Posted in Fun Facts on Aug 22nd, 2010
Before 1820, the discipline of economics in Austria was known as “The Science of Police.” This was, of course, prior to the Enlightenment works to be permitted into the empire. Does that make me a policeman?
Posted in Classical Liberalism, Extended Order, ethical foundations on Aug 21st, 2010
The answer is probably the same reason why I am fond of FA Hayek. In preparation for an undergraduate seminar I am running on Hayek, I came across a thought that is as powerful as the one I have at the top of the website. Here it is, if not in exact form: “the main [...]
Posted in Flotsam and Jetsam on Aug 20th, 2010
The Life and Times of an American Playboy. Funny, before I learned he was doing that, I sent him this. And it’s good to see this in the description of the movie: The Life and Times of an American Playboy is an independent short film, currently in production in Missoula, MT. The film is a [...]
![[Most Recent Quotes from www.kitco.com]](http://www.kitconet.com/charts/metals/gold/t24_au_en_usoz_2.gif)
![[Most Recent Quotes from www.kitco.com]](http://www.kitconet.com/charts/metals/silver/t24_ag_en_usoz_2.gif)