
Samuelson on the labour theory of value
17 Dec 2019 Leave a comment
in applied price theory, Austrian economics, history of economic thought, Marxist economics
Douglas Murray’s new book on social justice warriorism and identity politics
17 Dec 2019 Leave a comment
Douglas Murray is only 40 years old, but has already established himself as a neoconservative intellectual and author. Because of his political views—he’s anti-immigration, a critic of Islam, and a supporter of Brexit—he’s despised by many on the British and American Left, although his SJW credibility is marginally increased because he’s also gay. I haven’t read any of his previous works, but I am reading his latest book: The Madness of Crowds: Gender, Race, and Identity, which was published in mid-September but already has 182 reviews on Amazon and a 4.8-star rating (out of 5). It was hard to get, too, as there are several people who have already requested it at the University of Chicago Library, and I have but a week to read it.
Click on the screenshot to see the book on Amazon:
Since the book is a critique of social justice warriorism and the authoritarian Left…
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Colossal Carnage: US Wind Industry Killing More Than 1,000,000 Birds & Bats Every Year
17 Dec 2019 Leave a comment
Golden Eagle loses its head during wind power ‘transition’.
The polished hypocrisy among those slavish worshippers of wind power is breathtaking. The wind industry is slaughtering millions of birds and bats every year and yet there’s barely a peep from these faux environmentalists.
Sure, as James Taylor points out below, there’s the usual rubbish they dish up about skyscrapers killing more birds than these things, which is hardly to the point (even if it were true, which is doubtful). In any event, apex predators like Eagles, Vultures, Hawks and Kites rarely come to grief by flying into buildings of any description. But it’s these species that are being sliced and diced with complete impunity, all around the world.
When your premise is saving the planet, it’s pretty hard to maintain any kind of ‘social licence’ in the face of the colossal carnage being meted out by the wind industry; in…
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Greenland Ice Melt Accelerating, Says Jonathan Amos (Conveniently Forgetting What He Wrote In 2003!)
16 Dec 2019 Leave a comment
Shadow Banking Crisis of 1763..Amazing similarities with Lehman crisis of 2008
16 Dec 2019 Leave a comment
The more you think times have changed, the more they remain the same. Amazing econ history is..
I came across this paper by Atlanta Fed econs — Stephen Quinn and William Roberds. It is just amazing to note how similar things were way back in 1763. One had pretty similar financial instruments in 1763 whose drying up led to the crisis. And yes you had pretty similar instis like Lehman Brothers which did not have access to retail deposits but relied on a form of wholesale financing.
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Small business and @Fightfor15: @AOC @BernieSanders @SenWarren
16 Dec 2019 Leave a comment
in applied price theory, industrial organisation, labour economics, minimum wage, politics - USA, poverty and inequality, survivor principle Tags: 2020 presidential election, offsetting behaviour, The fatal conceit, unintended consequences
“The Environmental Creed”
16 Dec 2019 Leave a comment
This is a 2007 essay economist Don Boudreaux wrote that was published during 2007 in the Pittsburgh-Tribune Review. It is now posted at Mr. Boudreaux’s website.
The Environmental Creed
Careful observers often and correctly note that, for many of its adherents, environmentalism is a religion.
Too many environmentalists disregard inconvenient truths that would undermine their faith that calamities are percolating just over the horizon. It might well be that humans’ “footprint” on the Earth is larger than ever; it might even be true that this larger footprint creates some health risks for us modern humans that our pre-industrial ancestors never encountered.
But it is undeniably true that we denizens of industrial, market economies live far better and far healthier than did any our pre-industrial ancestors.
Compared to those ancestors, our life expectancies at birth today are about three times higher. Our bodies are cleaner and more free of disease…
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Don’t Copy the United Kingdom’s Government-Run, Single-Payer Health System
16 Dec 2019 1 Comment
I’m on my way back to the United States from England. My election-week coverage (starting here and ending here) is finished, but I’m still in the mood to write about the United Kingdom.
Yesterday, I shared some “Great Moments in British Government” and today I want to look at the U.K.’s single-payer health scheme.
The National Health Service (NHS) is inexplicably popular. Boris Johnson and Jeremy Corbyn basically competed over who would dump the most money into the system.
This near-universal affection is a mystery. There’s a lot of data suggesting the system doesn’t work.
Consider these details from a column by a British doctor.
One of the most curious political phenomena of the western world is the indestructible affection in which the British hold their National Health Service. No argument, no criticism, no evidence can diminish, let alone destroy, it. …Yet again, however, the NHS is…
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Guardian parrots Corbyn lie that antisemitism definition stifles debate on Israel
16 Dec 2019 Leave a comment
The Labour Party’s reluctant acceptance of the IHRA Working Definition of antisemitism in 2018 didn’t occur without a fight. There was one notable dissenter to the proposal to adopt, in full, the IHRA definition: Jeremy Corbyn, who claimed that it would stifle criticism of Israel.
As we noted at the time, the Guardian shared Corbyn’s dishonest interpretation of IHRA, in the following sentences of an official editorial:
The Palestinian narrative of dispossession and expulsion could be stifled, if not outlawed, by interpretations of the IHRA. Punishing political speech would stir more discord. If Jews have a right to define what oppresses them then Palestinians should also have the same right.
They’re at it again.
The Guardian, which recently endorsed Corbyn for prime minister, published an article by US correspondent Ed Pilkington (“Trump signs antisemitism order amid concerns it targets critics of Israel”, Dec. 12) that includes a…
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Samuelson bullying Marx again
16 Dec 2019 Leave a comment
in applied price theory, history of economic thought, Marxist economics
Doom prediction amnesia
16 Dec 2019 Leave a comment
One of the things that became abundantly clear in a previous post is how incredibly easy it is replace past failed predictions by a brand new one, even when incompatible with the failed prediction. There was the example of a Belgian activist who in 2008 claimed that we only had ten year left to avert tipping points by limiting the temperature increase to 2 C, but in 2018 -when we horribly failed to reach that target- he made a new prediction that we now had another ten years to prevent tipping points by limiting the temperature increase to … 1.5 C.
In that post, I also noticed the similarity between this prediction and the prediction by Andrew Simms and his onehundredmonths campaign. Both claimed that 2 C had to be averted otherwise we were in for tipping points, pointed to the authority of the IPCC to justify their claim…
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Walter E. Williams: Government, The Market, and Minorities
16 Dec 2019 Leave a comment
in applied price theory, applied welfare economics, Austrian economics, comparative institutional analysis, constitutional political economy, discrimination, economic history, economics of education, entrepreneurship, health economics, human capital, industrial organisation, labour economics, labour supply, occupational choice, poverty and inequality, privatisation, survivor principle, unemployment, welfare reform Tags: racial discrimination
Australia’s Energy Crisis: Subsidised Wind & Solar Obsession Sending Power Prices Into Orbit
15 Dec 2019 1 Comment
Add heavily subsidised and chaotically intermittent wind and solar to your grid and rocketing prices are guaranteed. The Danes know it, the Germans know it and South Australians became the butt of international jokes, because of it.
The relationship couldn’t be clearer: see above the pertinent little graphic from Dr Michael Crawford, which says it all, really.
For, try as they might, Australia’s renewable energy rent seekers are stuck with the fact that despite sunshine and wind being ‘free’, subsidised wind and solar power, anything but.
Some of the more deluded among them have even gone so far as to claim that South Australian power prices have actually fallen thanks to wind and solar. Tackling the truth has never been their strong point – eg: South Australia’s 50% Renewable Energy Fail: World’s Highest Power Prices Caused by Subsidised Wind & Solar
With a warm week coming up across the southern…
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China scientists warn of global cooling trick up nature’s sleeve
15 Dec 2019 Leave a comment

A new study has found winters in northern China have been warming since 4,000BC – regardless of human activity – but the mainland scientists behind the research warn there is no room for complacency or inaction on climate change, with the prospect of a sudden global cooling also posing a danger.
The study found that winds from Arctic Siberia have been growing weaker, the conifer tree line has been retreating north, and there has been a steady rise in biodiversity in a general warming trend that continues today. It appears to have little to do with the increase in greenhouse gases which began with the industrial revolution, according to the researchers.
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