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 Extended Order, Flotsam and Jetsam on Oct 23rd, 2010
If we develop better methods of identification like biometrics and the like, will we see the end of last names over time? Having last names is apparently something from relatively recent history.
Posted in Extended Order, Price System on Oct 7th, 2010
Consider how a central planner would solve a simple problem like, “what to do about Mr. Smith’s regularly occurring headaches.” The planner would have to call together a meeting of his planning board, and seek their input on the best way to accommodate me (because of course, they are all benevolent and seek nothing other [...]
Posted in Extended Order, Methodology on Sep 24th, 2010
A while ago I linked to a few stories highlighting some miserable failures in urban planning in Cleveland and Pittsfield. I received several e-mails asking things like, “propose something better” and “should we let them all die?” Without discussing either of those (I will soon) allow me to make a methodological argument about the problem [...]
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 Extended Order on Jan 13th, 2010
I ask my students the following question: Briefly characterize why the argument that “we are dependent on foreign oil” as a justification for developing alternative energy sources is a poor one. You could attack this issue in one of three ways: (1) Understanding the extended order of human cooperation will lead you to understand that [...]
Posted in Extended Order on Jul 31st, 2009
Last weekend I put together a 1,500 word article. In doing so, I selected four words that I commonly use to be added to the Microsoft Word dictionary. And no, this was not one of them – I, Mike Rizzo, am Wintercow.
Posted in Economic Illiteracy, Extended Order, trade on Jul 24th, 2009
Monroe County (the country where Rochester resides; outside the city are many quaint villages and still lots of pretty farmland): Eat fresh, buy local, grow Monroe! In their Grow Monroe brochure they celebrate, in pages facing one another: (1) Our county is home to successful national food brands, and then (2) Smart “buy local” choices [...]
Posted in Extended Order, You Can't Have it Both Ways on Apr 30th, 2009
I typically enjoy reading articles about local currencies, local farms, buying local, etc. – they are choc full of economic nonsense that make for great teaching. But every once in a while a piece comes along that demonstrates the anti-humanity of the community-minded folks who often support such ideas. Note that I celebrate the use [...]
Posted in Extended Order, You Can't Have it Both Ways on Apr 16th, 2009
“Rizzo, what do you think about regulating short-selling?”
Posted in Corporatism, Extended Order, You Can't Have it Both Ways on Nov 14th, 2008
In today’s news Congress is inching ever so closer to providing a $25 billion emergency loan package for bail out the “Big 3″ American auto-manufacturers. This is not the first time they have done it.
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