Time Traveling Thought Experiment

Imagine for a moment that one of your ancestors from 200 years ago (1810) gets transported to the present day. Further imagine that you take her on a tour of Bill Gates’ primary residence. What do you think she will be impressed by? What consumer goods in the house will leave her awestruck?

H/T Don Boudreaux


Posted in Innovation | Tagged | Leave a comment

The Hangover Theory

I could write a whole essay about the dirty tricks Paul Krugman employs in this Slate magazine article from 1998. Instead, I will focus on just one (okay, maybe a few more than one…).

Krugman insists that the Austrian theory of the business cycle is a pure misunderstanding of all the Keynesian and post-Keynesian economic “developments”. The misunderstanding, Krugman argues, is not based on a difference in perspectives or methods of prediction, but rather an intellectual short-coming that precludes economists like Hayek and his contemporary counterparts from doing the simple arithmetic! As Krugman would say, “Um, last time I checked, income = expenditures…” To make sure his readers understand just how much smarter he is than the Austrians, Krugman informs us that he regards the theory, “as worthy of serious study as the phlogiston theory of fire.” So how could so many serious academics still take thinkers like Hayek and Mises seriously? Krugman’s answer: To relieve themselves of conservative guilt, of course, associated with the desire to pay lower taxes. Read More »


Posted in Banking & Finance, Government Spending, Unintended Consequences | Tagged , , , | Leave a comment

Stop the Hate

I’ve discovered that there are as many people that want to save the world per capita in the PACS department as the Business School. In my Organizational Behavior course, we had to write our own obituary or retirement speech. The vast majority of obits were about accomplishments having a net positive on the world. No one wanted to make money for the sake of making money.

I personally don’t want to save the world. I don’t think it’s a reachable goal. I’d be happy to live out my years running a sandwich shop in New Hampshire surrounded by a loving family and close friends. That’s an aside to my major point: people are good, so please don’t judge them for making different life choices or believing different things.

Liberals think they are the tolerant ones. Yet how many liberals do you know who think it’s a character flaw to be conservative? I bet the number is more than one. At a recent Jewish holiday dinner, I held my tongue as adults around my expressed this sentiment. Read More »


Posted in Psychology & Behavior | Tagged | Leave a comment

Dangerous Keynesianism and Other Thoughts

If you’re paying people to dig for moneybags, you are wasting other people’s money. I say other people because there’s no way you’d be that stupid to waste your own resources. Yet that’s what a lot of people think the government should do. Can someone convince me that it’s a good idea to pay people to do things that provide little value at a high cost?

The State should not be in the employment role. When individuals are relying on the state for their livelihood, they will use the monopoly of force to their advantage. Firms who don’t have to compete for customers will make things better for themselves and a select group at the expense of everyone else. Public service workers merely exist within the political-industrial complex.

The State should not steal. They are the ones with guns who claim the legitimacy to point guns over you. Milton Friedman would advise, “Construct a constitution explicitly limiting the powers of government.” His son David would take it a step further and say, “Don’t give anyone special powers.” I’m leaning more and more towards David’s solution these days.

Our laws and regulations fail us become they don’t serve the individual customer who prefers efficiency over special interests. Profit maximizers please the people they serve. Laws should created for profits, bought by profit maximizing private security firms, and ultimately bought by an individual choosing the solution he finds most prudent. Instead, laws are chosen by politicians in their quest for reelection and power.


Posted in Government Spending | Tagged | Leave a comment

Eminent Domain

A 500 word essay I wrote for the Koch Summer Internship application… Read More »


Posted in Law | Tagged | Leave a comment

A Priori Knowledge and Mises

“Conflict Begets Change” – Creative writing failure that Charlie found in Dwinelle

I already know conflict begets change by a priori knowledge. Conflict disrupts things, whether they be tangible or interpersonal connections. A system disrupted will change, either in the short or long term.

I’ve begun my journey into the ideas and writings of Ludwig Von Mises, who argues among other things that economic law is a priori knowledge. I’ll keep you updated on my lateral intellectual refocus from the Chicago School to the Austrian School. So far, I’ve come to the conclusion that both camps are extremely insightful and that the entire painting of liberty is drawn with more than one brush.


Posted in Freedom, Knowledge problem | Leave a comment

More Monopoly Power in Education

Josh’s letter to the editor of the Daily Cal is bolstered by this article from Joe Klein, writing in Time Magazine:

Toward the end of his life, Shanker began to realize the union was headed down the wrong path. In a 1993 speech, he talked about the need for more accountability: “I wouldn’t be saying these things … if I didn’t have the sense that we are at the same point that the auto industry was at a few years ago. They could see they were losing market share every year and still not believe that it really had anything to do with the quality of the product … I think that we will get — and deserve — the end of public education through some sort of privatization scheme if we don’t behave differently.”

Al Shanker, the man Klein is quoting, was a powerful teacher’s union leader from the sixties through the nineties. It’s bad news when a salty old  union boss is preaching about a lack of accountability in his union’s sector. The education monopoly in the United States a a crucial issue of reform. Apparently, a $4.8 billion stimulus program gave federal money to states that agreed to experiment with charter schools. The move was blocked in New York State by the powerful teaching union. For a nightmarish description of the New York public school system, check out this old episode of This American Life. Read More »


Posted in Government Spending, education | Tagged , , , | Leave a comment

Ron Paul Clip

Ron Paul speaks some truth on Larry King live. The force is strong with this one.


Posted in Freedom | Leave a comment

I Should Have Been More Clear

The State is a Monopoly in Higher Education Issues

That was the headline the Daily Cal selected for my letter to the editor. Perhaps I should have been more clear, since that wasn’t what I was trying to argue.

The State is the largest source of monopoly power because it has a monopoly on force. It uses that monopoly to create other monopolies, such as K-12 education and the prison system. Ricardo Gomez urged people to strengthen the size and scope of the State in many areas. I thought that his boogeyman, privatization, is actually the best way to move forward.

My letter wasn’t really about higher education, but it still matters. It crowds out other Universities through its existence. It uses stolen money to hire teachers and offer services on an unfair playing field. Did I mention it transfers wealth from the have-nots to the will-haves?


Posted in Government Spending | Tagged | Leave a comment

My Attempt at a Hayeku

It turns out that in addition to being a great rapper, Russ Roberts also has a poetic streak!

Here’s my attempt at a Hayeku:

Strive not for order
Legislation is not law
Order emerges


Posted in hayek | Tagged , , | Leave a comment