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 Classical Liberalism, Extended Order, You Can't Have it Both Ways on Dec 21st, 2011
We might as well make this an ongoing series as well. Let’s stop and think about why some of the Occupy Wall Streeters are upset. They are upset that working hard and getting an education has not produced a “fair” return for them, and that some folks in society are getting an “unfair” return. Fine, [...]
Posted in Extended Order, Institutions, growth on Nov 28th, 2011
Today we begin a periodic series that will attempt to capture, via the numbers, exactly what has happened to the size and scope of government since the Great Society. People of all stripes have lovely narratives about “climates” of regulation or deregulation, point to increases or decreases in tax rates, point to the composition of [...]
Posted in Extended Order, Macroeconomics on Nov 25th, 2011
While my wife makes her way through the stores today to cash in one some deals we’d otherwise not take advantage of (for example, it’s a great day to get your new linens and bath towels – while everyone is fighting over the latest toy, these sorts of mundane household items are often on sale [...]
Posted in Extended Order on Oct 13th, 2011
Reflect for a moment on the wonders of the iPod, or really any digital audio device. On a single device, you can completely store and personalize all of your music, audio-book, podcast and other audio files. It can go virtually anywhere you go, whether you are hiking in the High Peaks or driving through the [...]
Posted in Competition, Extended Order, Voluntary Society, You Can't Have it Both Ways on Sep 9th, 2011
The beginning of every academic year brings me great joy. Not only do I get to meet lots of new interesting and bright people, but I have never failed to be introduced to a new way of thinking, a new idea, a new outlook on something I have seen in only one light for a [...]
Posted in Extended Order on Aug 26th, 2011
The average replacement cost of centralized nuclear and fossil-fuel powered power plants is about $1,500 per installed kilowatt. This might mean nothing to you, but consider this: a typical American household requires about 1 kilowatt to operate all of the electric implements in its house. Now consider this: how much money do you think it [...]
Posted in Extended Order, Regulation on Aug 21st, 2011
This is by no means meant to be relativist. Earlier this week we discussed some of the problems with the Fractivist movement – among them was the possibility of fracking fluids contaminating wells. I understand that this is a real (and controllable) problem. Do any of you recall the US government mandates to put oxygenates [...]
Posted in Extended Order on Aug 2nd, 2011
The worst kept secret in transportation circles is how inefficient high-speed rail is on both environmental and economic grounds. An equally poor secret, yet one that planners do not like to make well known, is just how efficient and convenient intercity buses are. In terms of both energy use, safety and carbon emissions, buses blow [...]
Posted in Extended Order, Politics on May 22nd, 2011
The following is a simple map of all 3,000+ counties in the continental US. Does is strike anyone as odd that so many of the counties are perfectly sharp geometric forms (e.g. rectangles)? Think of what a county, as a political unit, is supposed to be capturing. Isn’t it supposed to be capturing an area [...]
Posted in Extended Order on Apr 19th, 2011
How many times have you seen this expression? It sounds great, right? Food going from the farm right to your table. The concept conjures up imagery of a bucolic past we have lost touch with, a community support for local farming that has been ripped from us by the heartless capitalist system we suffer under. [...]
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