Homines libenter quod volunt credunt
Posted in Environment, Unintended Consequences on Dec 8th, 2011
I am sure you’ll soon hear some debate about the pending Supreme Court hearing of a 9th Circuit (yes THAT 9th circuit) decision to consider rainwater runoff from forest service roads a pollutant to be regulated under the Clean Water Act and not by the states. Look, I do not want to get into whether […]
Posted in Classical Liberalism, Corporatism, Economic Illiteracy, Economics Problems on Dec 8th, 2011
Diligent readers will know that I frequently bang on the idea that we ought to be humble regarding the state of our knowledge and our ability to act on it. But that does not mean, as Hayek correctly pointed out, that economists cannot say anything, about the world. We are well positioned to make what […]
Posted in Central Planning, You Can't Have it Both Ways on Dec 8th, 2011
We don’t need both bank reserve requirements and Federal Deposit Insurance. The reason to have either is to protect depositors in times of liquidity shocks to the banks they are members of. What kind of a signal does the existence of both send to us? Well, it tells us that the banking regulators do not […]