Japan houses more than half of the world's 1,000 oldest businesses:
priceonomics.com/why-are-so-man… http://t.co/LVzPPKOeJw—
Zachary Crockett (@zzcrockett) July 15, 2015
Creative destruction in oldest businesses
06 Aug 2015 Leave a comment
in economic history, entrepreneurship, industrial organisation, survivor principle Tags: business history, creative destruction, Japan, market selection
I’m worried! I’m sympathising with organic farmers over a land use conflict!
06 Aug 2015 1 Comment
in applied price theory, applied welfare economics, economics of regulation, industrial organisation, law and economics, politics - New Zealand, property rights, Public Choice, rentseeking, Richard Epstein, survivor principle Tags: common law, economics of agriculture, food snobs, green rent seeking, land use conflicts, land use planning, law of nuisance, noise pollution, nuisance, old common law, organic farming, Richard Epstein, William Blackstone, zoning
Writing this blog of sound mind and sober disposition, I still have considerable sympathy with two organic farmers over a land use conflict they have with the neighbouring gun range.
Local land use regulations allows a gun club to set up 600 m away with competitive shooting days all day for 88 days a year. That is a voluntary self restraint. They could hold shooting competitions every day of the year. The local land use regulations allow the use of guns on rural land. The gun club used this absence of a prohibition on the use of guns in the frequency of use to set up a gun range to fire guns all day long on rural land.
Now here is the rub. There something wrong with the concept of quiet enjoyment of your land if a neighbour can fire off a large amount of noises continuously. The occasional noise, the occasional gunshot yes, but all day? I live near the airport, but I knew it was there when we bought the property and the lands was a little cheaper because of that.
The organic farmers are unusually pristine and prissy about what they want by neighbours to protect the sacredness of their more expensive snob food. I’m not too sure whether they would want to grant their neighbours an equal right to unusual land uses such as opening a gun range. That said, the organic farmers do have a point about a very noisy neighbouring land use that can be heard some distance away.
The organic farmers, of course, could have negotiated with their neighbours for covenants to restrict land use that undermine there are unusually pristine requirements for quiet enjoyment of their land and their neighbours land too. Easy to do when the land is first unused, but once economic activity accumulates, not so easy in terms of transaction costs and hold-outs.
Uber is most valuable start-up
06 Aug 2015 Leave a comment
in economics of regulation, entrepreneurship, industrial organisation, survivor principle, transport economics Tags: creative destruction, Uber
The Left opposed airline deregulation
05 Aug 2015 Leave a comment
in applied price theory, applied welfare economics, comparative institutional analysis, economic history, economics of regulation, entrepreneurship, income redistribution, industrial organisation, politics - Australia, politics - New Zealand, politics - USA, Public Choice, rentseeking, survivor principle Tags: airline deregulation, antimarket bias, bootleggers and baptists, expressive voting, Leftover Left, rational ignorance, rational irrationality
CHART: US average airfares 1979 to 2014 measured in number of hours work at the average wage. @chartoftheday http://t.co/q7Phz3VkU0—
Mark J. Perry (@Mark_J_Perry) August 02, 2015
Deirdre McCloskey’s speech on ‘Bourgeois Dignity’
03 Aug 2015 Leave a comment
in applied price theory, applied welfare economics, comparative institutional analysis, constitutional political economy, economic history, entrepreneurship, industrial organisation, law and economics, property rights, survivor principle Tags: Deirdre McCloskey, entrepreneurial alertness, industrial revolution, The Great Enrichment, The Great Fact
40% of Fortune 500 companies were started by immigrants or children of immigrants
02 Aug 2015 Leave a comment
in economic history, entrepreneurship, industrial organisation, survivor principle Tags: creative destruction, economics of immigration, entrepreneurial alertness, top 1%
The fates of two islands under constant threat from a neighbouring military colossus
01 Aug 2015 Leave a comment
in applied price theory, applied welfare economics, Austrian economics, comparative institutional analysis, constitutional political economy, development economics, economics of media and culture, economics of regulation, growth disasters, growth miracles, income redistribution, industrial organisation, law and economics, liberalism, Marxist economics, property rights, Public Choice, rentseeking, survivor principle Tags: anticapitalist mentality, antimarket bias, capitalism and freedom, China, Cuba, expressive voting, Hong Kong, Leftover Left, public intellectuals, rational ignorance, rational irrationality, Twitter left
The first-ever video played on MTV TD 1981 was?
01 Aug 2015 Leave a comment
in economic history, economics of media and culture, entrepreneurship, industrial organisation, Music, survivor principle Tags: competition as a discovery procedure, creative destruction, entrepreneurial alertness, legacy media, The meaning of competition
Amazon.com as a gale of creative destruction
30 Jul 2015 Leave a comment
in economic history, economics of media and culture, entrepreneurship, industrial organisation, survivor principle Tags: Amazon.com, business history, creative destruction, e-commerce, entrepreneurial alertness, Walmart
Amazon is now bigger than Walmart read.bi/1Lyy93u http://t.co/XBsLW2HG8o—
Business Insider (@businessinsider) July 24, 2015
If bureaucrats were any good at picking winners, they would be hedge funds managers
30 Jul 2015 Leave a comment
in applied price theory, comparative institutional analysis, economics of bureaucracy, entrepreneurship, financial economics, human capital, industrial organisation, labour economics, managerial economics, occupational choice, organisational economics, rentseeking, survivor principle Tags: active investing, corporate welfare, efficient markets hypothesis, entrepreneurial alertness, hedge funds, industry policy, passive investing, picking winners, The fatal conceit, The pretence to knowledge
Page 32 of "An Illustrated Guide to Income" more economic #dataviz at: bit.ly/12SEI9p http://t.co/HYm0II2UNI—
Catherine Mulbrandon (@VisualEcon) May 08, 2013
Page 33 of "An Illustrated Guide to Income" more economic #dataviz at: bit.ly/10M7lqR http://t.co/FcmaqZWB32—
Catherine Mulbrandon (@VisualEcon) May 09, 2013
The hedge fund industry held $2.9 trillion of assets in June. Exchange-traded funds did better econ.st/1DdXgWS http://t.co/CK2foqMOpw—
The Economist (@EconEconomics) August 01, 2015
Creative destruction in advertising revenue around the globe
30 Jul 2015 Leave a comment
in development economics, economic history, economics of media and culture, growth miracles, industrial organisation, survivor principle Tags: competition as a discovery procedure, creative destruction, digital media, legacy media, technology diffusion, The meaning of competition
Why I'm optimistic about digital media, in 2 charts vox.com/2015/7/28/9050… http://t.co/FrVpJC2e2F—
Vox (@voxdotcom) July 28, 2015
Deirdre McCloskey on the Samaritan’s dilemma
30 Jul 2015 Leave a comment
in applied price theory, applied welfare economics, comparative institutional analysis, constitutional political economy, development economics, economic history, economics of regulation, entrepreneurship, growth disasters, growth miracles, history of economic thought, income redistribution, industrial organisation, liberalism, Public Choice, rentseeking, survivor principle Tags: Age of Innovation, bourgeoisie deal, capitalism and freedom, Deirdre McCloskey, The Great Enrichment, The Great Escape, The Great Fact
EU/OECD averages on R&D spending
27 Jul 2015 Leave a comment
in economic growth, industrial organisation, macroeconomics, survivor principle Tags: creative destruction, endogenous growth theory, entrepreneurial alertness, innovation, R&D
UK below EU/OECD averages on R&D spending: contributes to big productivity problem wef.ch/1dNOgv1 #budget15 http://t.co/OiN0706Tyi—
William Bain (@William_Bain) July 09, 2015
Utopia, you are standing in it! 
Recent Comments