Tag Archives: Economics

Book Review: Black Rednecks and White Liberals – Part 2: Are Jews Generic?

Part 1 of this review can be found here. The second part of Thomas Sowell’s Black Rednecks and White Liberals bears the delightful title “Are Jews Generic?” and takes the reader on a tour across several continents and millenia to … Continue reading

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Quote of the Week: John Maynard Keynes on Pragmatism

The ideas of economists and political philosophers, both when they are right and when they are wrong, are more powerful than is commonly understood. Indeed the world is ruled by little else. Practical men, who believe themselves to be quite … Continue reading

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Quote of the Week – George Orwell on Economic Competition

The trouble with competitions is that somebody wins them. This brilliant quote is taken from George Orwell’s review of Friedrich Hayek’s The Road to Serfdom and situated in a discussion of monopoly. Orwell contends that free market competition leads to … Continue reading

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Quote of the Week: John Maynard Keynes on the Long Run

In the long run we are all dead. Although some people have interepreted this statement as Keynes displaying a callous disregard for the long term consequences of his proposed policies, that’s not quite accurate. Here is the same quote with … Continue reading

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Against Affirmative Action

(An earlier version of this article appeared on A Voice for Men.) Suppose you were working in a chemical lab, doing some experiment. You get careless and by accident you spill some acid into your eye. What do you do? … Continue reading

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Acceptable Losses

Whenever the topic turns to some statistic about deaths, such as this news story about workplace fatalities in West Australia, there is a high likelihood that an ever-popular cliché will be trotted out: “Every single death is one too many.” … Continue reading

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Why I’m a Libertarian Part 4/4: The Harmony of Interests

For part 1 of this series, see The Coercive Nature of Law. For part 2, see The Efficiency of Free Market Capitalism. For part 3, see Negative Externalities of Government. “The history of all hitherto existing society is the history … Continue reading

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Why I’m a Libertarian Part 3/4: Negative Externalities of Government

For part 1 of this series, see The Coercive Nature of Law. For part 2, see The Efficiency of Free Market Capitalism. The most popular argument against free markets among economically literate people is market failure. Non-libertarians who understand economics … Continue reading

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The Economist’s Question

An economist was once asked how his wife was. His answer: “Compared to what?” This old economics joke illustrates one of the central lessons of economics. In decision making, it does not matter how good or bad a particular option … Continue reading

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