NEW PAPER ON SSRN: The wealth-creating engine of capitalism is the movement of assets to higher-valued uses. Our biggest and most valuable assets, and those with the greatest wealth-creating potential are corporations. Antitrust law and practice work to facilitate this movement, while deterring the types of mergers which substantially lessen competition. Previous iterations of the DOJ/FTC Merger…
Benefit-cost analysis without the benefits or the analysis: How not to write Merger Guidelines
Benefit-cost analysis without the benefits or the analysis: How not to write Merger Guidelines
20 Aug 2023 Leave a comment
in applied price theory, history of economic thought, industrial organisation, law and economics
Argentina should dollarize
19 Aug 2023 Leave a comment
Here is my Bloomberg column on that topic, here is the trickiest point: Another concern, more significant, is that dollarization would be a huge upfront cost to the government of Argentina: Someone would have to actually come up with all the dollars to serve as currency. Keep in mind, however, that the economy of Argentina…
Argentina should dollarize
Misleading Parliament
19 Aug 2023 Leave a comment

In my post on Thursday I commented briefly on the appearance by the Governor and his Chief Economist at Parliament’s Finance and Expenditure Committee. They tried to suggest to the Committee that to the extent there had been inflation forecast errors over the last year – responding to a question from Nicola Willis – that […]
Misleading Parliament
Washington’s ‘Whoo-Hoo’ Moment: Trump Indictment Coverage Borders on the Indecent
19 Aug 2023 Leave a comment

Below is my column in The Messenger on the celebrations after the fourth indictment of former president Donald Trump — and the dismissal of any concerns over the implications of these prosecutions for free speech. Some Democrats are warning that they need to avoid the public displays of joy. The danger is that Democrats just […]
Washington’s ‘Whoo-Hoo’ Moment: Trump Indictment Coverage Borders on the Indecent
Climate Hype Backfires on Greens
19 Aug 2023 Leave a comment
Mark Higgie reports Europe’s summer of climate hysteria in Spectator Australia. Excerpts in italics with my bolds and added images. But voters continue to move against the Green tide If the British weather were a person with bank accounts, it would by now likely find itself, like Nigel Farage, ‘de-banked’ for political incorrectness. While the […]
Climate Hype Backfires on Greens
California’s Subsidised Solar Onslaught Threatens Total Grid Collpase
19 Aug 2023 Leave a comment

Solar has plenty of friends when the Sun’s up, but it’s an orphan after Sunset. And it’s that point when solar-obsessed Californians smack into reality, with a very costly bang. Conventional generators – that were designed to run around-the-clock – get bumped off the grid as the output from solar panels peaks for a few […]
California’s Subsidised Solar Onslaught Threatens Total Grid Collpase
Texans Asked To Cut Electricity Use, As Wind Power Drops Off
18 Aug 2023 Leave a comment

By Paul Homewood h/t Dave Ward What a surprise!! https://twitter.com/ERCOT_ISO/status/1692212135005237465 Fortunately Texas still has plenty of gas generation: https://www.eia.gov/electricity/gridmonitor/dashboard/electric_overview/balancing_authority/ERCO
Texans Asked To Cut Electricity Use, As Wind Power Drops Off
Corruption at elections in Britain in the 19th century
18 Aug 2023 Leave a comment
Following on from Martin Spychal’s blog about the paper he gave at last month’s ‘From “Old Corruption” to the New Corruption?’ conference, organised jointly by Oxford Brookes and Newman Universities, we hear from our assistant editor Kathryn Rix. She gave the conference keynote, looking at parliamentary efforts to tackle the problem of electoral corruption in […]
Corruption at elections in Britain in the 19th century
“A Monopoly in Expressing its Views”: D.C. Circuit Hands Down Major Free Speech Victory for Pro-Life Group
18 Aug 2023 Leave a comment

The U.S. Court of Appeals for the D.C. Circuit has handed down a major victory for free speech against the District of Columbia. In Frederick Douglass Foundation v. District of Columbia, Judge Neomi Rao reversed district court judge James E. Boasberg who dismissed the challenge by pro-life protesters who alleged that they were treated differently…
“A Monopoly in Expressing its Views”: D.C. Circuit Hands Down Major Free Speech Victory for Pro-Life Group
Argentina Election Shocker
17 Aug 2023 Leave a comment

When I visited Argentina last November to give some speeches, I expressed a lot of pessimism and rhetorically asked whether the country could be rescued. In a column earlier this month, I followed up with two reasons for why Argentina is a basket case: “The short-run answer is modern monetary theory. The long-run answer is […]
Argentina Election Shocker
The Speech-as-Conduct Theory: A Response on the Second Trump Indictment
17 Aug 2023 Leave a comment

In the wake of the second indictment of Donald Trump, many law professors have offered good-faith rationales for why the four counts do not violate the First Amendment. Some of these columns respond to my view that the indictment would criminalize disinformation and political speech. While I respect many of these commentators, including my good […]
The Speech-as-Conduct Theory: A Response on the Second Trump Indictment
He’s the One
16 Aug 2023 Leave a comment

I recently shared my advice for men on finding a wife. Now I’m going to share my advice for women on finding a husband. While a few bigots will object to the idea of males advising females, the only question that genuinely matters is whether my guidance is good. To start, most of my advice…
He’s the One
Monetary policy miscellany
16 Aug 2023 Leave a comment

I did an interview with Mike Hosking this morning on monetary policy and inflation, against the backdrop of this afternoon’s Reserve Bank Monetary Policy Statement. Where we differed seemed to be around wages. Hosking asked how did wage inflation get so high, contributing to the ongoing inflation problem, and suggested that wage earners should now […]
Monetary policy miscellany
“Oh Georgia, No Peace I Find”: The Fourth Indictment of Donald Trump and the Criminalization of Election Controversies
16 Aug 2023 Leave a comment

Below is my column in The Messenger on the Georgia indictment. As expected, the indictment is a sweeping racketeering based prosecution involving former president Donald Trump and the 18 other defendants. The scope of the alleged conspiracy is massive. “The call” is one of those steps but the famous line that has occupied hours of […]
“Oh Georgia, No Peace I Find”: The Fourth Indictment of Donald Trump and the Criminalization of Election Controversies
Age of Rage: UChicago Report Finds 30 Million Americans View Violence as Justified To Keep Trump from Power
15 Aug 2023 Leave a comment

I recently asked, in light of the free speech implications of the second federal Trump indictment, when the price is too high for those who seek to jail the former president. The chilling answer is found in a new report out of the University of Chicago showing that almost 12 percent of the population, representing […]
Age of Rage: UChicago Report Finds 30 Million Americans View Violence as Justified To Keep Trump from Power
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