
From https://www.elibrary.imf.org/view/journals/023/0031/006/article-A005-en.xml
Celebrating humanity's flourishing through the spread of capitalism and the rule of law
16 Oct 2021 Leave a comment
in applied price theory, applied welfare economics, budget deficits, business cycles, econometerics, economic growth, economic history, Edward Prescott, history of economic thought, macroeconomics, monetary economics Tags: Japan, real business cycles, taxation and labour supply
16 Oct 2021 Leave a comment
in applied price theory, applied welfare economics, comparative institutional analysis, constitutional political economy, David Friedman, economics of crime, economics of education, economics of information, human capital, industrial organisation, labour economics, labour supply, law and economics, occupational choice, Richard Posner, survivor principle
15 Oct 2021 Leave a comment
California’s wind power proponents promised a clean, green future – instead, they’ve delivered a wholesale environmental disaster.
In the desert surrounding Ocotillo, locals have been putting up with wind turbines self-immolating, throwing their blades in all directions, leaking and spraying oil and collapsing to the desert floor, for years now (see our post here).
Here’s a tale of what a ‘clean’, ‘green’ energy future really looks like.
Ocotillo Wind Turbine Collapses Again
East County Magazine
Henri Migala and Miriam Raftery
20 September 2021
Residents in Ocotillo are voicing concerns after yet another wind turbine collapse at the Ocotillo Wind Energy facility. There were no injuries or damage to other structures when the 300-foot-tall turbine crashed to the desert floor at the trouble-prone facility on Thursday, September 16. But residents are raising serious questions over public safety at the site, which produces energy to SDG&E to power the San Diego…
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15 Oct 2021 Leave a comment
The period of human history that we know today as the Middle Ages spanned over a thousand years, and within that time, significant progress was made into understanding our world. Inventions and discoveries were made not just in Europe but throughout the known world during this time. One area of study that saw a lot of change was medical studies and understanding the human body. How did physicians heal the sick during the Middle Ages, and how did their experiences change their field of study? These questions and more are all explored in Juliana Cummings’ latest book, “Medicine in the Middle Ages: Surviving the Times.”
I want to thank Pen and Sword Books and Net Galley for sending me a copy of this book. I like learning about aspects from the past, so when I saw this title, I was interested in reading it. I am not usually curious about…
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15 Oct 2021 Leave a comment
An interesting story – and for those so inclined, an amusing one – out of the United States.
How Amish Communities Became The First To Achieve Covid “Herd Immunity”.
A reporter interviewed members of the Amish communities in Pennsylvania to see how they’ve been handling Covid-19 without electricity, TV or the Internet, with limited phones and basically just being cut off from the outside world, as has been their practice since their founding in the US over a century ago.
The Amish are a Christian group that emphasizes the virtuous over the superficial. They don’t usually drive, use electricity, or have TVs. And during the Covid-19 outbreak, they became subjects in a massive social and medical experiment.
…
After a short shutdown last year, the Amish chose a unique path that led to Covid-19 tearing through at warp speed. It began with an important religious holiday in May.
You…
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15 Oct 2021 Leave a comment
in applied price theory, Austrian economics, comparative institutional analysis, economic history, economics of regulation, entrepreneurship, industrial organisation, law and economics, property rights, survivor principle
15 Oct 2021 Leave a comment
in applied price theory, comparative institutional analysis, economic history, history of economic thought, industrial organisation, law and economics, property rights Tags: patents and copyright
14 Oct 2021 Leave a comment
There is no market for power that cannot be delivered on demand. Which is why, in the absence of subsidies, there wouldn’t be a solar panel or wind turbine in sight. Sure, there are remote locations where a solar panel hooked up to a system of batteries and diesel generators make perfect economic sense.
Here though, we’re talking about the large-scale solar plants which are increasingly carpeting the countryside, from horizon to horizon.
The value of a power generator as a business asset ordinarily depends upon the value of the power it generates. With wind and solar, however, it’s all about the subsidies they generate.
Tom Shepstone takes a look at the sale of a large-scale solar plant in New Jersey, which reveals what an enormous scam the solar power generation business really is.
Solar Farm Sale Reveals Green Energy Sorcery
Natural Gas Now
Tom Shepstone
16 September 2021
A…
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14 Oct 2021 Leave a comment

It is very hard for artists, who are part of an iconic band, to breakthrough as a solo artist. Stevie nicks was able to handle it(maybe that’s what Destiny’s child meant when they asked “Can you handle it?}
Stevie Nicks only became a singer for Fleetwood Mac by chance. The band as looking for a new guitarist after Peter Green left, and they approached Lindsey Buckingham. He agreed provided his girlfriend, Stevie Nicks, could join too. The rest is Rock N Roll history.
When she went solo in earnest 40 years ago, the woman who had been integral to Fleetwood Mac’s transformation into the world’s biggest band carved out an identity as a star in her own right. She didn’t just make a chart-topping album, Bella Donna, but came up with a stunning anthem that only seems to grow more popular with age.
“Edge of Seventeen” was released as the…
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14 Oct 2021 Leave a comment
in applied price theory, business cycles, econometerics, macroeconomics, Milton Friedman, monetary economics, Robert E. Lucas


From https://books.google.co.nz/books?id=TLq8z0oQg2sC&pg=PA97&source=gbs_toc_r&cad=3#v=onepage&q&f=false
14 Oct 2021 Leave a comment
Reducing the corporate tax rate from 35 percent to 21 percent was the crown jewel of Trump’s 2017 Tax Cut and Jobs Act (TCJA).
Some critics downplayed those benefits and warned that a lower corporate tax rate would deprive the government of too much revenue.
Since I don’t want politicians to have more money, that was not a persuasive argument. Moreover, I argued during the debate in 2017 that a lower corporate tax rate would generate “revenue feedback.”
In other words, there would be a “Laffer Curve” effect as corporations responded to a lower tax rate by earning and reporting more income.
Based…
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14 Oct 2021 Leave a comment
Accusations of political sleaze are on the rise again, but the concept of government insiders profiting from the system is nothing new, as Dr Paul Hunneyball of our Lords 1558-1603 project explains…
If the Committee on Standards in Public Life had existed 400 years ago, it would have needed a rather different remit. While Jacobean politicians periodically attacked corruption and venality in government, it was taken for granted that money was an essential lubricant of the system, and that the highest offices in the land frequently went to the highest bidders. Key components of the civil administration were run as personal fiefdoms and traded as though they were private property. A prime example was the prothonotaryship, or chief clerkship, of the court of King’s Bench, which in 1603 was occupied by John Roper. This office was reckoned to generate a net annual profit of around £4,000 (roughly £1.4 million…
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13 Oct 2021 Leave a comment
in applied price theory, business cycles, economic growth, economics of information, entrepreneurship, financial economics, history of economic thought, industrial organisation, labour economics, labour supply, macroeconomics, monetary economics, survivor principle, unemployment Tags: real business cycles

13 Oct 2021 Leave a comment
In this post which first appeared on the main History of Parliament blog, our research fellow Dr. Stephen Ball looks at the inaugural session of the reformed Parliament, a theme also explored in our previous blog on Harriet Grote.
When the reformed Parliament first met on Tuesday 29 January 1833 many people speculated about the way the reconfigured House of Commons would conduct its business. Fear that the Whig government would be unduly influenced by newly elected Reformers and Radicals, who might try to seize the initiative over legislation was widespread in conservative circles in the early weeks of the new parliament.
A contemporary analysis of non-Conservative MPs returned at the 1832 general election identified 145 Reformers, 40 Radicals, 33 Irish Repealers and two Liberals, who saw the Reform Act as a springboard for further constitutional change, and 194 Whigs, who could be counted on to support the 23…
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