Daily Archives: December 16, 2017

The King is Dead: Royal Death and Succession under the Tudors


Talk by David Starkey @ Whitley Bay Playhouse 11/05/2016

A couple of months ago I went to hear a talk by David Starkey on the Tudor succession at my local theatre. These are the notes I took on the day:-

Henry VIII by Hans Holbein 1540 Henry VIII by Hans Holbein 1540

Similar to today?

Cromwell similar to David Cameron?

Death of a monarch – die publicly, semi-public, public proclamation.

Every Tudor death of a monarch is kept secret.

Intrigues, political struggles – characteristic over regime with autocratic rulers.

Henry VIII’s death replicates that of Henry VII.

Elizabeth I’s death = change of dynasty. Robert Carey rides to Edinburgh to tell James VI of Scotland he is now James I of England.

One smooth succession – death of Mary I, throne goes to Elizabeth I. Mary believed she was pregnant even on her deathbed.

English relations with Scots not good historically – Elizabeth militarily prepared over…

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NAFTA Talks Stall Over Climate Change

Watts Up With That?

Canadian Prime Minister Justin Trudeau, his wife Sophie Gregoire, and daughter Ella-Grace wave as they board a government plane in Ottawa, Monday August 29, 2016. THE CANADIAN PRESS/Adrian Wyld
No kids,

Guest essay by Eric Worrall

Negotiations for a new North American Free Trade Agreement have reportedly stalled at least in part over whether climate change should be included in the text of the agreement.

U.S. Fights Mention of ‘Climate Change’ in New Nafta

By Josh Wingrove , Eric Martin , and Andrew Mayeda
16 December 2017, 06:46 GMT+10 Updated on 16 December 2017, 07:24 GMT+10

The U.S. is fighting against any mention of “climate change” in a potential new environmental chapter of the North American Free Trade Agreement, according to two people familiar with talks.

The latest Nafta talks were set to wrap Friday in Washington with no new agreement to finalize individual subjects or chapters. While mention of…

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FCC Internet Regulation Is a Recipe for Crony Capitalism

Truth on the Market

Much ink has been spilled (and with good reason) about the excessive and totally unnecessary regulatory burdens associated with the Federal Communications Commission’s (FCC) February 26 “Open Internet Order” (OIO), which imposes public utility regulation on Internet traffic.  For example, as Heritage Foundation Senior Research Fellow James Gattuso recently explained, “[d]evised for the static monopolies, public-utility regulation will be corrosive to today’s dynamic Internet. There’s a reason the phrase ‘innovative public utility’ doesn’t flows easily from the tongue. The hundreds of rules that come with public utility status are geared to keeping monopolies in line, not encouraging new or innovative ways of doing things. . . .  Even worse, by imposing burdens on big and small carriers alike, the new rules may actually stifle chances of increasing competition among broadband providers.”

Apart from its excessive and unjustifiable economic costs, the OIO has another unfortunate feature which has not yet…

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Truth on the Market

Thomas Hazlett and I have posted The Law and Economics of Network Neutrality:

The Federal Communications Commission’s Network Neutrality Order regulates how broadband networks explain their services to customers, mandates that subscribers be permitted to deploy whatever computers, mobile devices, or applications they like for use with the network access service they purchase, imposes a prohibition upon unreasonable discrimination in network management such that Internet Service Provider efforts to maintain service quality (e.g. mitigation congestion) or to price and package their services do not burden rival applications.

This paper offers legal and economic critique of the new Network Neutrality policy and particularly the no blocking and no discrimination rules. While we argue the FCC‘s rules are likely to be declared beyond the scope of the agency‘s charter, we focus upon the economic impact of net neutrality regulations. It is beyond paradoxical that the FCC argues that it is imposing…

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Hazlett on Net Neutrality and Antitrust

Truth on the Market

My colleague Tom Hazlett has an interesting piece in the Financial Times chiming in on the network neutrality debate.  Hazlett makes the point that if “competitive harm” is the concern, isn’t antitrust the answer rather than regulation of this sort?  Hazlett writes:

But rather than enforce such [disclosure] rules, the FCC launched regulatory attack by asserting that Comcast’s network management choices evinced anti-competitive intent. The operator disrupted access to video streams to protect Comcast’s own cable products. The assertion was supported by nary a wisp of evidence or analysis in the 34-page FCC Order. Were the regulators the least bit serious, they would have seen their rationale for intervention as worthy of support. Surely, it needs some.

Hazlett dismantles the competitive threat story in more detail and concludes that antitrust courts, which require a more rigorous proof of competitive harm, are preferable to FCC-style regulation:

The FCC writes that video-on-demand…

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Knowing the Who: Identifying the effect of entrepreneurs on firms

The NEP-HIS Blog

Do entrepreneurs matter?

Sascha O. Becker (s.o.becker@warwick.ac.uk), CAGE University of Warwick

Hans K. Hvide (hans.hvide@econ.uib.no), University of Bergen, CEPR and University of Aberdeen


Within the broad literature on firm performance, economists have given little attention to entrepreneurs. We use deaths of more than 500 entrepreneurs as a source of exogenous variation, and ask whether this variation can explain shifts in firm performance. Using longitudinal data, we …find large and sustained effects of entrepreneurs at all levels of the performance distribution. Entrepreneurs strongly affect firm growth patterns of both very young firms and for firms that have begun to mature. We do not find significant differences between small and larger firms, family and non-family firms, nor between firms located in urban and rural areas, but we do find stronger effects for founders with high human capital. Overall, the results suggest that an often overlooked factor –individual entrepreneurs plays…

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{Economics ∪ History} ∩ {North ∪ Fogel}

The NEP-HIS Blog

A Cliometric Counterfactual: What if There Had Been Neither Fogel nor North?

Claude Diebolt (Strasbourg University) and Michael Haupert (University of Wisconsin – La Crosse)

Abstract – 1993 Nobel laureates Robert Fogel and Douglass North were pioneers in the “new” economic history, or cliometrics. Their impact on the economic history discipline is great, though not without its critics. In this essay, we use both the “old” narrative form of economic history, and the “new” cliometric form, to analyze the impact each had on the evolution of economic history.

URL: http://d.repec.org/n?u=RePEc:afc:wpaper:05-17&r=his

Circulated by nep-his on: 2017-02-19

Revised by Thales Zamberlan Pereira (São Paulo)

Douglass North and Robert Fogel’s contribution to the rise of the “new” economic history is well known, but Diebolt and Haupert’s paper adds a quantitative twist to their roles as active supporters of cliometrics when there was still resistance to apply new methods to the study of the past…

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The Euro left is rather intolerant

Can’t Choose A Country To Visit? Try An International Zone.

Little Earthquake


Any time you’re within the confines of an international airport, for instance at the duty free shop, you’re in an “international zone.” It’s a physical area governed by international law or by more than one nation, hence, the lack of duty on that bottle of rum. This concept was exploited in the Tom Hanks movie The Terminal, in which a traveler from a war-torn country can neither return home nor enter the U.S. (or elsewhere) and ends up living at Kennedy Airport indefinitely. That was a ridiculous conceit, of course, but it illustrates the point. An international zone is like the line of scrimmage in football, belonging to neither team. Or perhaps like No Man’s Land on the battlefield. Except in the case of an international zone, it’s not fought over as in war or football. It’s staked out and agreed upon.

Be that as it may, these zones…

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Bruce Yandle on bootleggers & Baptists

Knowledge Problem

Bruce Yandle’s “bootleggers & Baptists” model of political coalition formation is one of the most useful models in the political economy of regulation (and one that both Mike and I employ frequently, as seen by our many posts using the model).

Here’s a great new Learn Liberty video featuring Bruce himself describing how coalitions of seemingly-unlikely interests can form to enact particular regulations. He describes the original formulation, and then applies it to environmental regulation.

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Ronald Coase interview

Knowledge Problem

Michael Giberson

Interview with Ronald Coase, on the occasion of the establishment of the Coase China Society, an effort to stimulate study and application of Coase’s ideas in China. Interview conducted by Wang Ning, a student of Coase’s now teaching at Arizona State University and co-author with Coase of the book How China Became Capitalist.

HT to Paul Walker of Anti-Dismal.

A few selections illustrating Coase’s views on Coasean economics, experimentation and institutional reform, and where Hayek had a good point:

WN: You mentioned many times that you do not like the term, “Coasean economics”, and prefer to call it simply the “right economics” or “good economics”.  What separates the good from bad, the right from wrong?

RC: The bad or wrong economics is what I called the “blackboard economics”. It does not study the real world economy. Instead, its efforts are on an imaginary world that…

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