George Stigler Can regulatory agencies protect the consumer? (1971)


Greenpeace Co-Founder Tears Apart Green New Deal

Green Jihad

Greenpeace co-founder Dr. Patrick Moore joined Mike Huckabee to discuss the Green New Deal. Moore did not mince words with how he felt about the plan and its proponents.

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“I’ll Tell You What Happens With Impossible Promises”: When Kinnock Faced Down Militant

Anthony Broxton

As the Labour Party return to Liverpool – the scene of their pitched battles of the 1980s – Militant have been praised for their work fighting the Tories. In 1985 however, it was Neil Kinnock’s speech that put Labour back on the long road to government. 

The Road to Bournemouth

The battle between the Labour Party and the Militant faction was arguably their biggest – and most destructive – of the 1980s.

The path to Neil Kinnock’s Bournemouth speech began twenty years earlier, when – in 1964 – the Militant Tendency launched their newspaper The Militant. Developing as a group from the Revolutionary Socialist League, it pursued an “entryist” policy to gain key positions within the Labour Party.

As Labour were turfed out of office in 1979, moderate MPs came under increasing pressure to adopt a more radical Marxist agenda.The nature of the divide was illustrated at Labour’s 1980 conference, where delegates met to decide…

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Living/minimum wage: what we know

Core Economics

Version 1.0 (April 24, 2019)

A couple of weeks ago, I got ensnarled in one of these debates on Facebook that do not go anywhere; it was triggered by the Australian Labor Party’s recent Living Wage policy proposal and the related discussion about the merits of minimum wages, and there specifically whether increases in minimum wages have negative employment effects and even more specifically whether such detrimental employment effects hit those at the low end of the wage distribution. These debates tie into other current debates like the one about lacking wages growth about which even the RBA is now concerned; see also Fig 17.17 here, or the one about wage theft which even the current government — not known for its charitable inclinations — says it wants to address, or the one about growing inequality which, as it affects aggregate demand, has to be a growing concern…

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Green co-leader will be led by science – but GM is not yet a Shaw thing

Point of Order

The  Ardern   government  wants to  lead the world  in implementing  measures  to  combat  climate  change.  Prime Minister  Jacinda Ardern put her personal stamp on this by saying it will be  her  government”s  “nuclear-free”  moment.

The science  on  global  warming  is clear,  say  both   Labour and  the Greens.   So  shouldn’t every   kind of  science   be  used  to  combat it?

Well,  no,  says  the  Green  Party.  It  refuses   to  contemplate  genetic  modification  as an instrument   for  example   in the  campaign  to  make  NZ-predator   free.

Predator Free 2050 is forbidden from carrying out any research which could lead to the use of genetic modification or gene editing, a letter written by Conservation Minister Eugenie Sage shows.

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steven lubet vs. the entire field of ethnography

Contexts magazine recently published an article by Northwestern law professor Professor Steven Lubet where he argued that ethnographers should seriously be interested in verifying claims reported in ethnographies. This is part of his bigger effort to critique ethnographic practices, not only in terms of truth making but also in terms of research ethics. Here are the links, some critics of Lubet, and then I’ll give you my brief opinion:

My take: Overall, I am on “Team Lubet.” I won’t relitigate earlier issues, but I will say that ethnographies are not exempt from the ethical principles that govern human behavior in general and social research in particular.

In terms of his specific…

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Bank capital again

croaking cassandra

Just a quick post today, as submissions close soon on the Reserve Bank Governor’s plans to require banks to fund much more of their balance sheets with equity capital, and I still need to write mine.  The Governor stated last week that the Bank has already received 50 or so submissions.  I hope that, in the spirit of open government and genuine consultation, the Bank will put those submissions up on their website pretty promptly –  and not, as is more usually the case with them (but not, say, with parliamentary select committees), only when the Governor has made his final decision.

I’ve seen a few submissions, none of which seemed very positive on what the Governor was proposing.   It remains striking that, five months on from the release of the initial consultative document there has still been no serious attempt at a cost-benefit analysis, and only the promise…

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Civil Rights in Song (1): Eyes on the Prize

RGS History


Given that one of the most important roots of the civil rights movement was in the black churches, and given the importance of gospel music to those churches, it’s hardly surprising that music provided a vibrant and very important sound track to that struggle. So, time for some civil rights songs: here, from the time itself, in the years leading up to the passing of the Civil Rights Act and the Voting Rights Act.

On that famous day, in 1963, when Martin Luther King spoke to the crowd in Washington, it was the gospel singer and civil rights campaigner, Mahalia Jackson, who shouted to to King to ‘tell them about the dream’. King listened, and so did the world.

Music played a major role that  day, as this New Yorker article explains:

Here she is, in the later ’60s, singing the civil rights anthem:

Among the star turns was…

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FRIEDMAN FRIDAY Milton Friedman’s FREE TO CHOOSE “How to cure inflation” Transcript and Video (60 Minutes)

The Daily Hatch

Milton Friedman’s FREE TO CHOOSE “How to cure inflation” Transcript and Video (60 Minutes)

Image result for milton friedman free to choose

In 1980 I read the book FREE TO CHOOSE by Milton Friedman and it really enlightened me a tremendous amount.  I suggest checking out these episodes and transcripts of Milton Friedman’s film series FREE TO CHOOSE: “The Failure of Socialism” and “What is wrong with our schools?”  and “Created Equal”  and  From Cradle to Grave, and – Power of the Market.“If we could just stop the printing presses, we would stop inflation,” Milton Friedman says in “How to Cure Inflation” from the Free To Choose series. Now as then, there is only one cause of inflation, and that is when governments print too much money. Milton explains why it is that politicians like inflation, and why wage and price controls are not solutions to the problem.

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In Apple v Pepper, SCOTUS leaves home without its Amex

Truth on the Market

It might surprise some readers to learn that we think the Court’s decision today in Apple v. Pepper reaches — superficially — the correct result. But, we hasten to add, the Court’s reasoning (and, for that matter, the dissent’s) is completely wrongheaded. It would be an understatement to say that the Court reached the right result for the wrong reason; in fact, the Court’s analysis wasn’t even in the same universe as the correct reasoning.

Below we lay out our assessment, in a post drawn from an article forthcoming in the Nebraska Law Review.

Did the Court forget that, just last year, it decided Amex, the most significant U.S. antitrust case in ages?

What is most remarkable about the decision (and the dissent) is that neither mentions Ohio v. Amex, nor even the two-sided market context in which the transactions at issue take place.

If the decision in

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UK Media Watch prompts correction to Daily Mirror omission on Israeli casualties

Last week, we complained to the Daily Mirror over an article in their May 7th print edition on the recent violence between Israel and terrorists in Gaza.  The piece provided an estimated number of Gaza civilians killed during the short conflict, but omitted the fact that all four Israelis killed by Hamas and Islamic Jihad rockets were civilians.

DEADLY violence on the border of Israel and the Gaza Strip has petered out after Egypt and the United Nations reportedly mediated a ceasefire yesterday. Twenty-one Palestinians, more than half of them civilians, and four Israelis have been killed in three days of clashes.  

Shortly after contacting editors, our complaint was upheld, and the following correction appeared in the May 8th print edition.

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The Evil of Environmentalism

Green Jihad

Mine Your Own Business pulls the mask off of the environmentalist movement. The 2006 documentary thrashes the warm, fuzzy image of environmentalists as well meaning, harmless activists and is the first movie to reveal the true intent of foreigners who lead campaigns to rescue people in remote areas of poor foreign countries from development.

The answers environmentalists give when interviewed are often disturbing, and usually with racist overtones. But, somehow, they are continuously supported and conduct activities that force people to remain in poverty. The makers of Mine Your Own Business ask local people about their lives and what they want for themselves and their future.

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