Antitrust, Multi-Dimensional Competition, and Innovation: Do We Have an Antitrust-Relevant Theory of Competition Now?
15 Sep 2014 Leave a comment
in economics
The Beauty Of Centrally Planned Agriculture
15 Sep 2014 Leave a comment
in economics
This is where progressives want to take us, with their pens and their phones and the EPA.
What Ha Joon Chang Doesn’t Tell You about ‘Free Market Economics’
15 Sep 2014 Leave a comment
in economics
Professor Ha Joon Chang has become something of a hero to those who champion heterodox economic theory and who rail against the supposed intellectual hegemony of ‘neo-liberalism’. In a number of books such as Kicking Away the Ladder Chang sets out to overturn the alleged orthodoxies of mainstream economics by questioning the case for free trade as an appropriate development strategy in poorer countries and more widely making the case for a high regulation/big government agenda. These themes are vividly on display in Chang’s latest best seller 23 Things They Don’t Tell You About Capitalism. Unfortunately, also on display in this book is Chang’s penchant for misrepresenting opponents, the use of straw man analyses and claims to theoretical innovation for what amounts to ‘re-inventing the wheel’. In several posts in the coming weeks I aim to highlight these aspects of Chang’s work in the hope that his readers (should…
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Fact sheet on Green scaremongering about more flooding because of global warming
15 Sep 2014 1 Comment
What does socialism do?
15 Sep 2014 1 Comment
in applied price theory, applied welfare economics, comparative institutional analysis, development economics, growth disasters, liberalism, Marxist economics Tags: socialism
HT: Dan Mitchell
Ronald Coase: On the Market for Goods and the Market for Ideas
15 Sep 2014 1 Comment
in economics
Ronald Coase is one of my favourite living economists (he is now 100 years old). His work on the significance of transactions costs and dealing with problems that these costs raise is fundamental to a proper understanding of the market economy and the institutions that support it. Alas, though his work was recognised with the receipt of the Nobel Prize in 1991 the implications of Coase’s ideas are not widely understood by contemporary economists and indeed they are often completely misrepresented by those who should know better (in my book Robust Political Economy I target Joseph Stiglitz as being particularly guilty of this charge).
One of the most interesting but neglected of Coase’s ideas is presented in a brief essay on ‘The Market For Goods and the Market For Ideas’ , originally published in the American Economic Review in 1974. In this essay, Coase points out the inconsistency of those…
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Churchill on capitalism
14 Sep 2014 Leave a comment
in applied welfare economics, constitutional political economy, market efficiency, Public Choice, public economics, technological progress Tags: capitalism, Winston Churchill
The Putin Effect on transitional economies in the former Soviet union
14 Sep 2014 Leave a comment
in development economics, growth disasters, growth miracles, income redistribution, Marxist economics, Public Choice, rentseeking Tags: development, development miracles, disasters, former Soviet Union, Poland, The Great Enrichment, transitional economies, Ukraine
Poland was in the same position as Ukraine after the collapse of the Soviet empire, but it followed better policy and is now several times richer.
Utopia, you are standing in it! 
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