10 Reasons Colonizing Venus is a Good Idea
09 Jun 2021 Leave a comment
in economics of media and culture Tags: Venus
Government Regulations – Milton Friedman
08 Jun 2021 Leave a comment
Milton Friedman on Government Regulations (1973) Capitalism and Freedom – Milton Friedman: https://www.youtube.com/watch?v=zDo642kuR7k
Milton Friedman was an American economist and statistician who received the 1976 Nobel Memorial Prize in Economic Sciences for his research on consumption analysis, monetary history and theory and the complexity of stabilization policy.
Top Milton Friedman Books:
1. Capitalism and Freedom: https://amzn.to/3lJ54bF
2. Free to Choose: https://amzn.to/3vRwTmG
3. Why Government Is the Problem: https://amzn.to/31hjeHi
An Indispensable Member? Legal expertise in the Long Parliament, ‘an ancient lawyer’ and civil war intimidation
08 Jun 2021 Leave a comment
In the past, as with now, it was not uncommon to find those trained in the practice of law seated on the benches of Parliament. In today’s blog Dr Vivienne Larminie, assistant editor of our Commons 1640-1660 project, looks into the tumultuous political career of one such lawyer in the 17th century, John Whistler.

via Wikimedia Commons
With their expertise at a premium in the drafting of legislation, lawyers have always found a place in Parliament. When professional experience was combined with long service in the House and a reputation for learning, integrity or judicious pronouncements, a lawyer MP might command such respect that it was considered difficult to operate without him.This was the case with John Selden, a jurist with a European reputation who, when the Long Parliament assembled in November 1640, had the added kudos…
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The politics of SkyPath 2.0
08 Jun 2021 Leave a comment
in politics - New Zealand, transport economics, urban economics
Thomas Sowell on the Economics of Redistribution: Quicksand at One End and Beatings at the other End
08 Jun 2021 Leave a comment
Over the years, I’ve shared some clever images, jokes, and cartoons to expose the flawed mindset of those who hope to achieve coerced equality of outcomes with redistribution and high tax rates.
The size of a pizza vs the share of a slice.
The modern version of the Little Red Hen.
Washington’s Byzantine welfare state.
Chuck Asay’s overburdened tractor.
The Wizard-of-Id parody.
Two pictures showing how the welfare state begins and ends.
A socialist classroom experiment (including a video version).
The economics of redistribution in one image.
As you can see, this is a common-sense issue. When you give people money on the condition that they don’t earn much money, you create a perverse incentive for them to be unproductive.
Especially since, when people work more and earn more, they get hit by a combination of fewer handouts and…
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The Economics of “Labor Shortages”
08 Jun 2021 Leave a comment
During the Obama years, I shared a cartoon strip that cleverly makes the point that some people will choose not to work if they can get enough goodies from the government.
That Wizard-of-Id parody has been viewed more than 56,000 times, which suggests many readers also thought it was worth sharing.
But it obviously hasn’t been shared often enough with the crowd in Washington. Politicians have created a welfare state that penalizes work and rewards dependency.
Especially now that there are bonus payments for staying unemployed. Which makes it hard to businesses to find workers.
Our friends on the left, however, think there’s a solution to this problem.
In his column for the New York Times, David Leonhardt says there is not a labor shortage because employers can simply raise wages.
The idea that the United States suffers from a labor shortage is fast becoming conventional wisdom. But…
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Why Don’t People Duel Anymore
08 Jun 2021 Leave a comment
in defence economics, economic history, economics of crime, law and economics
Why Did the Ottoman Empire Join the Central Powers?
08 Jun 2021 Leave a comment
in defence economics, war and peace Tags: World War I
10 Reasons Colonizing Mars is a Bad Idea
08 Jun 2021 Leave a comment
in economics of media and culture Tags: Mars, space
June 6, 1944 – The Sea Was White-Crested and Angry
07 Jun 2021 Leave a comment
June 6, 1944: D-Day
Allied troops landed on the beaches of Normandy, Operation Overlord, the biggest seaborne invasion in history, marking the start of the liberation of France, and beginning the final phase of WWII in Europe.
Around 150,000 troops from Britain, America, Canada, and other Allied countries landed on five sectors of Normandy beach. The victory was costly: over 10,000 Allied casualties, compared to an estimated 5,000 to 9,000 casualties for the Germans.
To read more, click:
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How do you align the incentives of sea captains transporting criminals to Australia with those of the public?
06 Jun 2021 Leave a comment
in applied price theory, Armen Alchian, comparative institutional analysis, economics of information, financial economics, history of economic thought, industrial organisation, labour economics, labour supply, law and economics, managerial economics, market efficiency, organisational economics, personnel economics, property rights, Ronald Coase, survivor principle, theory of the firm Tags: adverse selection, asymmetric information, incentive compatibility, moral hazard
Avoidable Self Harm: Dogged Reliance On Intermittent Wind & Solar Guarantees Power Supply Chaos
06 Jun 2021 Leave a comment
Sign up for wind and solar and receive power supply chaos as just one of the added extras, along with rocketing power prices and a wave of social and environmental havoc.
Australia has been on the path since 2001 when Federal Liberal PM, John Howard introduced his Renewable Energy Target. The Target was greatly expanded by Labor in 2009, with the subsidies to wind and solar pumped up to cost Australian power consumers more than $4 billion a year.
But tonight’s post is about something that, barely a decade ago, was almost inconceivable in a country blessed with coal, gas and (completely ignored) uranium. That is, routine power supply disruptions in the form of widespread load shedding (when the grid manager is in control) and mass blackouts (when things get completely out of control).
At the heart of the debacle sits sunshine-dependent solar and weather-dependent wind.
Here’s Chris Kenny’s…
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