Celebrating humanity's flourishing through the spread of capitalism and the rule of law
07 Jun 2026 Leave a comment
in economics of information, economics of media and culture, economics of regulation, entrepreneurship, financial economics, history of economic thought, industrial organisation, market efficiency, politics - USA, regulation, survivor principle Tags: creative destruction
Everyone in Washington seems to agree that artificial intelligence must be governed. The only real dispute is who gets the steering wheel. Congress? Federal agencies? State legislatures? Some newly minted task force with a long acronym and a taste for reporting requirements? That debate is already too narrow. President Donald Trump’s recent executive order on…
Artificial Intelligence, Natural Ignorance
07 Jun 2026 Leave a comment
in economics of regulation, entrepreneurship, industrial organisation, law and economics, managerial economics, organisational economics, property rights
SpaceX may soon ask public investors to buy a piece of the future. The fine print may ask them to buy something else, too: a theory of corporate governance. The company’s reported initial public offering (IPO) has already drawn significant concern from institutional investors and corporate-governance observers. That concern is understandable. SpaceX reportedly seeks to…
SpaceX and the New Geography of Corporate Governance
06 Jun 2026 Leave a comment
in energy economics, entrepreneurship
Peter Zeihan is a global energy, demographic, and security expert breaking the news about a new tech revolution enhancing extraction of hydrocarbon fuels. For those preferring to read, below is a lightly edited transcript from the video with my bolds and added images. Hey all, Peter Zeihan here coming to you from Los Angeles on […]
Fourth Shale Revolution = Hydrocarbon Abundance
05 Jun 2026 Leave a comment
in entrepreneurship, human capital, labour economics, labour supply, managerial economics, organisational economics, personnel economics
News.com.au reports: A high-profile tech CEO has sparked debate after revealing he quietly axed his entire human resources department earlier this year. Ryan Breslow, CEO of Bolt Financial, claims the HR team at the fintech firm was “creating problems that didn’t exist” and fostering a culture of complaining rather than productivity. “The problems disappeared when…
Abolishing HR
04 Jun 2026 Leave a comment
in applied price theory, entrepreneurship, industrial organisation, managerial economics, organisational economics
SpaceX may soon ask public investors to buy a piece of the future. The fine print may ask them to buy something else, too: a theory of corporate governance. The company’s reported initial public offering (IPO) has already drawn significant concern from institutional investors and corporate-governance observers. That concern is understandable. SpaceX reportedly seeks to…
SpaceX and the New Geography of Corporate Governance
26 May 2026 Leave a comment
in applied price theory, econometerics, economic growth, economic history, entrepreneurship, fiscal policy, macroeconomics Tags: taxation and entrepreneurship, taxation and investment
Three findings emerge. First, improvements in aggregate tax competitiveness are positively and significantly associated with real GDP per capita growth, robust to a wide range of controls. Second, this aggregate effect is driven entirely by the corporate tax pillar; no other component displays a significant growth effect. Third, the corporate tax effect materializes contemporaneously and…
The corporate tax rate really matters
24 May 2026 Leave a comment
in applied price theory, economic growth, entrepreneurship, fiscal policy, human capital, income redistribution, labour economics, labour supply, macroeconomics, poverty and inequality, Public Choice, public economics Tags: taxation and entrepreneurship, taxation and investment, taxation and labour supply
I’ve shared several columns (here, here, here, here, and here) reviewing scholarly research on the harmful economic impact of wealth taxation. From now on, however, I think I’ll simply share this clever video from the folks at Reason. The video uses humor to make very important points about how a wealth tax would diminish incentives […]
The (Amusingly) Destructive Economics of Wealth Taxation
23 May 2026 Leave a comment
in applied price theory, Armen Alchian, entrepreneurship, history of economic thought, industrial organisation, survivor principle, theory of the firm
One of the most persistent criticisms of law & economics is that it rests on unrealistic assumptions. Economic models often assume firms maximize profits, investors respond rationally to incentives, and market participants systematically adjust their behavior in predictable ways. Critics frequently point to these assumptions as evidence that economic analysis is detached from reality. Real…
‘Uncertainty, Evolution, and Economic Theory,’ by Armen Alchian
23 May 2026 Leave a comment
in applied price theory, economic growth, entrepreneurship, human capital, industrial organisation, labour economics, labour supply, macroeconomics, market efficiency, occupational choice, survivor principle, theory of the firm
California has seen the future of work, and Sacramento’s first instinct is to convene 14 task forces about it. Gov. Gavin Newsom signed Executive Order N-6-26 today, setting California’s workforce agencies in motion on directives involving research reviews, revisions to the state’s Worker Adjustment and Retraining Notification (WARN) Act, studies of new safety-net programs, a…
The AI Jobs Panic Comes to Sacramento
14 May 2026 Leave a comment
in applied price theory, economics of regulation, entrepreneurship, industrial organisation, politics - New Zealand, urban economics Tags: competition law, land supply, zoning
The Spinoff reports: Both Labour and National governments have considered the idea of breaking up the big two but ultimately decided against it. A 2023 analysis by MBIE suggested forcibly breaking up the supermarkets could cost as much as $3.8 billion over 20 years, mostly due to the loss of economies of scale. It could make wholesale and distribution…
A good idea for supermarket competition
13 May 2026 Leave a comment
in applied price theory, economic history, entrepreneurship, history of economic thought, industrial organisation, survivor principle Tags: industry policy
Tweet… is from page 8 of Scott Lincicome’s and Huan Zhu’s superb September 2021 paper, “Questioning Industrial Policy: Why Government Manufacturing Plans Are Ineffective and Unnecessary”: A core part of industrial policy’s knowledge problem is timing: because markets and personal preferences are constantly evolving, the facts (products, investments, supply and demand, etc.) on which an…
Bonus Quotation of the Day…
08 May 2026 Leave a comment
in applied price theory, entrepreneurship, industrial organisation, transport economics
Many antitrust economists are wary of the efficacy of predatory pricing, the strategy of pricing below costs to drive a competitor out of a market. The usual counter-argument is that, for it to work, the inevitable losses this will entail must be recouped after the rival has exited. Recoupment requires higher prices … that can…
A Hiccup in a Price War
27 Apr 2026 Leave a comment
in applied price theory, economic history, entrepreneurship, history of economic thought, industrial organisation Tags: industry policy
Tweet… is from page 815 of Richard Nelson’s and Richard Langlois’s February 1983 Science paper titled “Industrial Innovation Policy: Lessons from American History”: A quick reading of the case studies is enough to dash any supposition that technological change is somehow a cleanly plannable activity. In fact, it is an activity characterized as much by…
Quotation of the Day…
19 Apr 2026 Leave a comment
in applied price theory, econometerics, entrepreneurship, fiscal policy, human capital, income redistribution, labour economics, labour supply, macroeconomics, poverty and inequality, Public Choice, public economics Tags: taxation and entrepreneurship, taxation and investment, taxation and labour supply
In Part I of this series back in 2014, we looked at some academic research from Canada showing that the revenue-maximizing tax rate on the richest taxpayers was 27.5 percent. A key insight from that research is that high-income taxpayers have considerable control over the timing, level, and composition of their income (just like in […]
The Laffer Curve and Limits to Class Warfare Tax Policy, Part II
17 Apr 2026 Leave a comment
in business cycles, Edward Prescott, entrepreneurship, financial economics, global financial crisis (GFC), great recession, history of economic thought, human capital, labour economics, macroeconomics, monetary economics, occupational choice, Robert E. Lucas
Tim Sablik of the Richmond Fed interviews “Ellen McGrattan: On measuring what businesses do, developing effective tax policy, and searching for answers beyond the lamppost” (Econ Focus: Federal Reserve Bank of Richmond, First/Second Quarter 2026). Here are a few of the comments that caught my eye: How did McGrattan become interested in business cycles? In…
Interview with Ellen McGrattan: Business Cycles and Intangible Capital
Celebrating humanity's flourishing through the spread of capitalism and the rule of law
A History of the Alt-Right
Econ Prof at George Mason University, Economic Historian, Québécois
Celebrating humanity's flourishing through the spread of capitalism and the rule of law
Scholarly commentary on law, economics, and more
Beatrice Cherrier's blog
Celebrating humanity's flourishing through the spread of capitalism and the rule of law
Celebrating humanity's flourishing through the spread of capitalism and the rule of law
Celebrating humanity's flourishing through the spread of capitalism and the rule of law
Why Evolution is True is a blog written by Jerry Coyne, centered on evolution and biology but also dealing with diverse topics like politics, culture, and cats.
Celebrating humanity's flourishing through the spread of capitalism and the rule of law
A rural perspective with a blue tint by Ele Ludemann
DPF's Kiwiblog - Fomenting Happy Mischief since 2003
Celebrating humanity's flourishing through the spread of capitalism and the rule of law
The world's most viewed site on global warming and climate change
Tim Harding's writings on rationality, informal logic and skepticism
A window into Doc Freiberger's library
Let's examine hard decisions!
Commentary on monetary policy in the spirit of R. G. Hawtrey
Thoughts on public policy and the media
Celebrating humanity's flourishing through the spread of capitalism and the rule of law
Politics and the economy
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Reading between the lines, and underneath the hype.
Economics, and such stuff as dreams are made on
"The British constitution has always been puzzling, and always will be." --Queen Elizabeth II
Celebrating humanity's flourishing through the spread of capitalism and the rule of law
Celebrating humanity's flourishing through the spread of capitalism and the rule of law
WORLD WAR II, MUSIC, HISTORY, HOLOCAUST
Undisciplined scholar, recovering academic
Celebrating humanity's flourishing through the spread of capitalism and the rule of law
Res ipsa loquitur - The thing itself speaks
In Hume’s spirit, I will attempt to serve as an ambassador from my world of economics, and help in “finding topics of conversation fit for the entertainment of rational creatures.”
Researching the House of Commons, 1832-1868
Articles and research from the History of Parliament Trust
Reflections on books and art
Posts on the History of Law, Crime, and Justice
Celebrating humanity's flourishing through the spread of capitalism and the rule of law
Exploring the Monarchs of Europe
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Small Steps Toward A Much Better World
“We do not believe any group of men adequate enough or wise enough to operate without scrutiny or without criticism. We know that the only way to avoid error is to detect it, that the only way to detect it is to be free to inquire. We know that in secrecy error undetected will flourish and subvert”. - J Robert Oppenheimer.
The truth about the great wind power fraud - we're not here to debate the wind industry, we're here to destroy it.
Celebrating humanity's flourishing through the spread of capitalism and the rule of law
Celebrating humanity's flourishing through the spread of capitalism and the rule of law
Utopia, you are standing in it! 
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