Icebreakers arrive in 1920s Helsinki – health and safety be damned

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#OTD

The public choice theory of LBJ in a nutshell

David D. Friedman | Market failure

Texas price gouging law is backfiring

Knowledge Problem

Halea Walker and I have an op-ed appearing in the Dallas Morning News explaining that Texas’s anti-price gouging law comes with some unintended consequences.

What I most want to say about price gouging laws is, in effect, “if you mess with price discovery, you’re going to have a bad time.” Unfortunately, that claim does not resonate deeply with non-economists.

In the op-ed, we give two examples of ways the state’s enforcement of the law post-Hurricane Harvey is giving Texans “a bad time”: first, the law likely protects hoarders able to stock up fast more than it protects consumers actually distressed by the hurricane; and second, the law ends up disadvantaging small businesses to the benefit of big business.

Here is the first part of the op-ed:

In the aftermath of Hurricane Harvey, a photo of a case of bottled water selling for nearly $43 at a Houston-area Best Buy quickly…

View original post 419 more words

Why is #JesusisGay or #AllahisGay blasphemy? #hatespeech in the Age of Enlightenment?

OIA: cartels, oligopoly, oligopsony & monopsony @women_nz @NZHumanRights @nztreasury @NZcomcom


https://www.stuff.co.nz/business/money/104626995/beware-of-pay-transparency-it-plays-into-the-hands-of-bosses-and-men

Behind on my blasphemy

The UK’s unpaid war debts to the United States, 1917-1980

The Long Run

by David James Gill (University of Nottingham)

ww1fe-562830 Trenches in World War I. From <www.express.co.uk>

We all think we know the consequences of the Great War – from the millions of dead to the rise of Nazism – but the story of the UK’s war debts to the United States remains largely untold.

In 1934, the British government defaulted on these loans, leaving unpaid debts exceeding $4 billion. The UK decided to cease repayment 18 months after France had defaulted on its war debts, making one full and two token repayments prior to Congressional approval of the Johnson Act, which prohibited further partial contributions.

Economists and political scientists typically attribute such hesitation to concerns about economic reprisals or the costs of future borrowing. Historians have instead stressed that delay reflected either a desire to protect transatlantic relations or a naive hope for outright cancellation.

Archival research reveals that the British cabinet’s…

View original post 315 more words

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