Calculation and Knowledge

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Ignorant of Markets, and Proud of It

Calculation and Knowledge


From a letter in today's Wall Street Journal:

If we allow ourselves to buy labor services from the poor, we encourage the idea that they are mere instruments to be used by us at will and thereby corrode one of our most central convictions: All persons, including those...

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Solving the "Problem" of Free Riding

Big GovernmentCalculation and KnowledgeInterventionism


With the almost constant statist apologetics we hear from many government and academic economists, writes Ben O'Neill, it is hard to believe that the discipline of economics was once a thorn in the side of the state and its political elite. So commonplace are fallacious economic arguments...

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Milton Friedman Bleg

Calculation and Knowledge


Milton Friedman's best-known technical works are his Theory of the Consumption function (1957) and the Monetary History of the United States (with Anna Schwartz, 1963). But it is rarely mentioned that Friedman won the John Bates Clark Award (given by the AEA every two years to...

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Brand Blanshard Takes a Swipe at Mises

Calculation and Knowledge



An eminent economist writes: 'The spheres of rational action and economic action are... coincident. All rational action is economic. All economic activity is rational action.' And what is the end of economic activity? One's own pleasure. 'Action based on...

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Arbitraging Ron Paul's Online Odds

Calculation and Knowledge


I admit I haven't personally participated in any of this stuff, so I can't speak from experience. But it seems that there are several gambling web sites with often different odds on Ron Paul. With the possibility of shorting a Ron Paul contract on ...

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The Heroic Richard Lindzen on Global Warming

The EnvironmentCalculation and Knowledge


Richard Lindzen is one of the heroic challengers to the scientific establishment on the topic of global warming, yet you don't often hear about him. He is an an atmospheric physicist and the Alfred P. Sloan Professor of Meteorology...

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What are the Costs of the Patent System?

Legal SystemCalculation and Knowledge


I'm trying to find out if there are any recent estimates as to the cost of the patent system--e.g., what the annual dollar cost is in the US that would not be borne if not for the patent system.

As I've noted before (see There's No Such...

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My Own Pick for Best Living Economist

Calculation and KnowledgeSubjectivism


I am glad that the "Free Market Hall of Fame" poll has such great radical thinkers as Ludwig von Mises and Murray Rothbard in the category for favorite historical free market academic economist, and I am...

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Greenspan: The Liar, The Fraud

Booms and BustsFinancial MarketsCalculation and Knowledge


Alan Greenspan is in the news a lot currently because of the release of his new book. I haven't read the book. Nor will I read it if it means that I have to buy it or if reading it means that Alan Greenspan in any other way will financially benefit from it. Enriching a hypocritical fraud...

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