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economics Uncategorized

Goldman Sachs’ Merry-Go-Round of Metal

Goldman Sachs’ Merry-Go-Round of Metal We are living in a golden age of market manipulation. Never have so few been able to control so much in such an opaque system.

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John Galt and the Theory of the Firm

John Galt and the Theory of the Firm We may live in a market sea, but that sea is dotted with many islands that we call firms, some of them quite large, within which decisions are made not via markets but via hierarchy — even, you might say, via central planning. Clearly, there are some […]

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economics Uncategorized

Ending Carbon Socialism

If you seriously believe in markets, you should believe that given the right incentives — namely, putting a price on emissions, through either a tax or a tradable permit scheme — the economy will find lots of ways to emit less. You should definitely not believe, as anti-environmentalists claim, that the result would be economic […]

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economics Uncategorized

Yglesias » FA Hayek, Statist

in The Road to Serfdom Hayek ends up committing himself to a view of environmental regulations that’s well tot he left of where today’s center-left politicians are: Nor can certain harmful effects of deforestation, or of some methods of farming, or of the smoke and noise of factories, be confined to the owner of the […]

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economics Uncategorized

How Much Does the Market Organization of Economic Life Matter?

In 1989, the Iron Curtain came down, and we could see what a difference it made as we could examine levels of material well-being on both sides of the Curtain. This is as close to a perfect natural experiment as anyone could wish: the Iron Curtain’s location was determined by where Stalin’s and Mao’s and […]

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politics Uncategorized

The only thing Americans hate more than big government is the absence of government protection

middle-class Americans of the right, left, and center have now come to expect a level of personal financial security that—despite the stereotypes—most people would never demand from their governments. In a review he wrote earlier this month, Brink Lindsey, the vice president of the libertarian Cato Institute—a man who knows what he is up against—pulled […]