Homines libenter quod volunt credunt
Posted in Inflation on Jan 27th, 2011
In this piece, Senator Bernie Sanders tells us: “It’s an IOU that is backed by Treasury bonds and the faith and credit of the United States government,” said Sen. Bernie Sanders, I-Vt. “It is the same faith and credit that enables us to borrow from rich people and from China and from other countries. As […]
Posted in Environment, Market Failures, You Can't Have it Both Ways on Jan 27th, 2011
Two common arguments made against market systems are: Left to their own devices, capitalist economies are prone to monopoly. Private, profit-seeking interests over-exploit environmental resources. Let’s grant that both of these are 100% true. What would the implication be? Well, consider the problems of “monopoly” as the standard market-failure critique goes. Monopolies are “bad” because […]
