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 Economic Illiteracy on Sep 1st, 2010
Have you ever thought about where your emotion of disgust comes from? We all experience it. Whether it is looking at rotting roadkill on a hot day, or when a lover is cuckolded, or some other reason. I happen to experience it in my economic life a lot. In fact, I have been told by [...]
Posted in Economic Illiteracy on Aug 31st, 2010
Via John Stossel:
The city of Cleveland operates a public grocery store called the West Side Market. It boasts organic foods, unique specialty items, and personal service (the DMV boasts that too, you have to deal personally with them). It looks quite nice from the pictures. But typical of government it is only open for 4 [...]
Posted in Economic Illiteracy on Aug 28th, 2010
A friend of a good friend reminds me that:
If you are a doctor who accepts Medicare payments, you cannot offer your services to non-Medicare patients at a lower cost, even if they’re uninsured …
HT: Tim Bastian
Posted in Economic Illiteracy, Economics Problems, Politics on Jul 15th, 2010
Does being on the short-end in some transaction empower the loser to become an expert on relevant policy? This is one of my largest pet peeves. For example, no doubt that the families of those murdered and injured in the 9-11 events have suffered a great deal, but does it make any sense at all [...]
Posted in Economic Illiteracy on Jul 14th, 2010
I’ve had people try to refute economic arguments I’ve made by appealing to something along the lines of, “I’ve heard that before … or that argument is SO pedestrian.”
Well, the truth is boring isn’t it? Critics who employ such tactics rarely follow up with an analysis of what is so objectionable in what I write, [...]
Posted in Economic Illiteracy on Jun 22nd, 2010
And that worked our great didn’t it. This is feeling more and more like an Ayn Rand novel.
“Government Launching Plan to Halt Homelessness.”
My new thought is why even launch a plan, just decree homelessness ended, and it should simply end.
Posted in Corporatism, Economic Illiteracy on Jun 9th, 2010
Coyote exposes Andy Stern and the “changey left Progressives” for the bloviating buffoons they really are.
Here is a sample:
I am not sure I have ever heard anyone sound more like a scabby beauracrat in Atlas Shrugged. Can you believe this dweeb along with Barrack and the gang who can’t shoot straight taking credit for the [...]
Posted in Economic Illiteracy on Jun 8th, 2010
Dan Klein reports:
Zogby researcher Zeljka Buturovic and I considered the 4,835 respondents’ (all American adults) answers to eight survey questions about basic economics. We also asked the respondents about their political leanings: progressive/very liberal; liberal; moderate; conservative; very conservative; and libertarian.
…
In this case, percentage of conservatives answering incorrectly was 22.3%, very conservatives 17.6% and libertarians [...]
Posted in Economic Illiteracy, Environment on Apr 12th, 2010
Economists have to thank the “Progressives” of the world for their existence. Their 100+ years of policy follies have provided us with example after example to use in our economics courses. But I want to offer up the Progressives the opportunity to put their money where their mouth is today. You see, they really only [...]
Posted in Corporatism, Economic Illiteracy, You Can't Have it Both Ways, trade on Apr 2nd, 2010
Do you really believe that your elected officials are acting in your interest? Do you really believe that when they tax you, when they offer up protectionist measures, when they bail out financial institutions, when they fund schools that teach cinema majors but cut nursing programs, etc. that these are programs working in your benefit? [...]
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