Prof. Ronald Coase, Happy 100th Birthday!

Kempton - ideas Revolutionary

I would like to wish Prof. Ronald Coase good health and all the best on his 100th Birthday (Dec 29th, 2010) and his new book to be published in 2011 (see attached Economist article)! “… Mr Coase will publish a new book in 2011, with Ning Wang of Arizona State University, on “How China Became Capitalist”

By the way, I have watched the following lecture videos by Prof. Coase probably over 5-10 times already and I am still learning something new every time. Enjoy. Note: More info after the videos.

Also check out the following,

– (video) Ronald Coase: “Markets, Firms and Property Rights”

Audio (downloadable) Ronald H. Coase: The 17th Annual Coase Lecture

– Ronald Coase Discusses Global Warming Regulation – Of Individual Liberty and Cap and Trade

– For the record, from Stephen N. S. Cheung(2011.01.04)科斯百岁了

And from Economist,

Why do firms…

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The contradictions of decriminalising marijuana and banning tobacco

After They Finish With Exxon…

The Lukewarmer's Way

About the only nice thing to come from the wholesale adoption by climate activists of the Tobacco Strategy is that we can predict what’s coming next.

Why they adopted the Tobacco Strategy is an open question–the activist strategy against tobacco companies failed miserably.


Oh, the activists got their show trials and reparations were paid to some. But Big Tobacco is bigger and richer than ever before. The strategy failed.

At any rate, it is easy to see the next steps in the climate activists’ march to glory–glory, perhaps, but not success.

Activists may be able to convince a jury or even a judge somewhere that fossil fuel companies should have told investors that some day their products would fall out of favor. And it is indeed possible that politicians will regulate fossil fuels or impose a carbon tax that will make this chart from BP obsolete:


If activists are successful…

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What undergrads and @stevenljoyce need to know about trade @GreenCatherine

Minister for everything Stephen Joyce wrote some nonsense in the paper today about how trade agreements and more exports will mean more jobs:

I would like to make the point that trade access is hugely important for a small country like New Zealand. 

Without fair and equal trade access we can’t sell as much of our goods and we get less for them. And that means fewer jobs.

This make-work bias is as bad as those who oppose trade agreements on the grounds of an anti-foreign bias. Trade affects the composition of employment, not the number of jobs. Paul Krugman spent a good part of the 1990s trying to explain that to the general public and public intellectuals.


Source: What Do Undergrads Need To Know About Trade?.

Ponzi Power: US Wind Power Company – Sun Edison – Implodes


share traders Yes boys, sell, sell, sell – it’s another Ponzi scheme …


STT has likened it to the great corporate Ponzi schemes, pointing out, just once or twice, that the wind industry is little more than the most recent and elaborate effort to fleece gullible investors, in a list that dates back to “corporate investment classics”, like the South-Sea Bubble and Dutch tulip mania.

In the wind industry, the scam is all about pitching bogus projected returns (based on overblown wind “forecasts”) (see our posts here and here and here and here); claiming that wind turbines will run for 25 years, without the need for so much as an oil change (see our posts here and here and here); and telling investors that massive government mandated subsidy schemes will outlast religion (see our posts here and here and here).

In Britain, Wind Prospect Group stopped…

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Big agglomeration gains in a growing Auckland? Or not.

croaking cassandra

A few weeks ago, when the annual regional GDP data were released, I used them as the basis for a post casting some doubt on whether we were seeing the widely-touted economic gains from the large and rapidly growing population in Auckland.

The data aren’t ideal by any means.  Among the other issues, they are only nominal, they only go back to 2000, and there are no regional hours worked data.  But they are what we have.  Since 2000, Auckland’s population –  already far and away the largest in New Zealand –  had grown rapidly, up 30 per cent, while the population in the rest of the country had increased by 13 per cent.

And yet, allowing for all the limitations of the data, GDP growth per capita in Auckland over that period had been among the lowest in any of the regional council areas in New Zealand.  Average GDP per…

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Healthcare Triage: Antibiotics and Resistance | The Incidental Economist

A century ago, the top three causes of death were infectious diseases. More than half of all people dying in the United States died because of germs.

Source: Healthcare Triage: Antibiotics and Resistance | The Incidental Economist

Graham John Wheeler: The British Overseas Territories and “Direct Rule”

UK Constitutional Law Association

Graham John WheelerIn the wake of the Mossack Fonseca affair, there have been calls for London to impose “direct rule” on some of the British Overseas Territories which are used for offshore financial purposes.

This blog post does not take a position on the merits of this proposal. Instead, it seeks to highlight two constitutional points which arise in this regard. First, the Territories’ powers of self-government are already relatively circumscribed in legal terms. Second, there is no developed set of doctrines determining when it might be appropriate for the British Government to intervene more closely in the Territories’ governance.

The Territories and their Constitutional Position

The Territories are the last remnants of the former British Empire. There are 14 of them, and they are listed in Schedule 6 of the British Nationality Act 1981. They comprise:

  • Anguilla
  • Bermuda
  • The British Antarctic Territory
  • The British Indian Ocean Territory
  • The Cayman Islands
  • The…

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15 Common Anti-Vaccine Arguments and Why They are a Load of Crap

The Logic of Science

In this post, I will address fifteen of the most commonly used arguments against vaccines. Throughout this post, you should notice that none of these arguments require a great deal of scientific knowledge or logical ability to defeat, and anyone with an unbiased mind and internet capable computer can find the flaws in them in minutes. I realize that this post is lengthy, but its broken up in sections so you can read only the parts that you care about.

#1 We shouldn’t trust the doctors/scientists that support vaccines because they are paid by pharmaceutical companies/the government
#2 Many doctors/scientists are coming forward against vaccines
#3 If vaccines work then why do you care if my child is vaccinated?
#4 No vaccine is 100% safe
#5 Vaccines contain many TOXIC chemicals that aren’t safe at ANY dosage!
#6 Vaccines did not eliminate diseases, they were declining before vaccines were introduced

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Someone forgot to put the brakes on when righting this truck

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