Homines libenter quod volunt credunt
Posted in Central Planning on Mar 2nd, 2012
Holy Gosh, I really now know we have entered a Brave New World. Here is now what the free-market in energy and transportation is all about (sorry Msrs. Friedman and Hayek for have done such a poor job …): Let’s open our market to good old American competition. Friedrich Hayek and Milton Friedman stressed that […]
Posted in Government Gone Wild on Mar 2nd, 2012
Tim Geithner pulls the same rabbit out of the regulatory hat today in the WSJ: Remember the crisis when you hear complaints about financial reform—complaints about limits on risk-taking or requirements for transparency and disclosure. Remember the crisis when you read about the hundreds of millions of dollars now being spent on lobbyists trying to […]
Posted in Education on Mar 2nd, 2012
When economists think about agency problems they typically describe cases where there are clearly identified “principals” (those whose plans we hope to be executing) and “agents” (those who typically are responsible for executing the plans). The point we make about “principal-agent” problems is that when we drive a wedge between who the decision-maker is and […]
