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 Property Rights on Nov 25th, 2010
I wrote this for Thanksgiving last year. Didn’t get around to a new article for this year, but I hope you can enjoy this “reprint.” Four centuries after the celebration of the first Thanksgiving, there is still widespread disagreement about the reason for the Pilgrims’ feast. But whether it was a harvest festival, a strictly [...]
Posted in Property Rights on Nov 12th, 2010
Many innately “useless” objects in society seem to have great exchange value, much to the consternation of the cultural stewards. For example, there is a thriving market for tiny plastic ornamentation to decorate your rubber sandals with. I argue elsewhere that this is not “useless,” but that is not the focus here. Consider why Jibbetz [...]
Posted in Property Rights, Socialism, ethical foundations on Oct 12th, 2010
At what point does the production of wealth create a moral obligation to be happy about having some of that wealth plundered by the “enlightened progressives?” For years, classical liberals have crafted sensible arguments for the sanctity of private property on moral, economic and practical grounds. These are ignore, no matter how sound they are. [...]
Posted in Property Rights, Socialism, Taxation on Sep 20th, 2010
Tyler Cowen weighs in on a debate “raging” regarding the complaints of a rich guy about his impending (increasing) tax bill: Oddly — or perhaps not – it’s the people who feel they deserve their money who are the most likely to give it away. I’m not going to weigh in. Rather, I’ll ask, is it OK [...]
Posted in Property Rights on Sep 16th, 2010
My unwritten policy at the Unbroken Window is to typically not comment on issues like this. But I think enough time has passed to put an economist’s perspective on the issue and have it heard without shuffling quickly to another web site. Ignore the passions for now, ignore the 9-11 issue, ignore the religious discrimination, [...]
Posted in Property Rights, You Can't Have it Both Ways on Sep 8th, 2010
Many non-liberals (in the classical sense, not the modern sense) construct elaborate arguments aiming to rebut the primacy of self-ownership and thus that a liberal order (i.e. a social “system” that is permitted to emerge through voluntary exchange and contract) is unjustified either on that ideological ground or on some contrived argument about the undesirability [...]
Posted in Environment, Property Rights on Sep 7th, 2010
A little less love and a lot more property is in order. Read the Economist story.
Posted in Property Rights, You Can't Have it Both Ways on Sep 6th, 2010
If you view the world as one where the evil capitalists are exploiting the workers, I am pretty sure you would hold the view that workers have a right to withhold their services from employment. A corollary to that view is that workers have a right to bargain for a greater share of the pie [...]
Posted in Corporatism, Property Rights on Aug 22nd, 2010
It is illegal in Maine for retailers to sell 6 gallons of milk and give away a 7th for free. The hubris behind the whole program (similar ones operate in many states) is astonishing. The grocery store had to go to the milk czar to ask for permission to offer an in-store promotion. Under what [...]
Posted in Classical Liberalism, Property Rights on Aug 19th, 2010
I like to run along the Erie Canal when I exercise. At several of the access points there are signs posted that say something like “No Parking at All Times.” And of course, several of those signs have had black markers drawn through the “Parking” and replaced with “Wars.” My old neighborhood in (arm)Pittsfield, MA [...]
![[Most Recent Quotes from www.kitco.com]](http://www.kitconet.com/charts/metals/gold/t24_au_en_usoz_2.gif)
![[Most Recent Quotes from www.kitco.com]](http://www.kitconet.com/charts/metals/silver/t24_ag_en_usoz_2.gif)