Calculation and Knowledge

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Entrepreneurship, Arbitrage, and Capital

Calculation and KnowledgeCapital and Interest TheoryEntrepreneurship


[Cross-posted at Organizations and Markets]

Over the years I'm increasingly convinced that Israel Kirzner's metaphor of entrepreneurship as costless discovery ...

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Thoughts on the Latecomer and Homesteading Ideas; or, why the very idea of "ownership" implies that only libertarian principles are justifiable

Calculation and KnowledgePhilosophy and MethodologyPolitical TheoryPrivate Property


The following is an edited version of my recent post on a libertarian discussion list. I've often noted how Hoppe's writings on libertarian ethics stress the importance of the "prior-later" distinction and the problems with the "latecomer" ethic. A few thoughts on...

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Why People Walk on Stairs and Sometimes Stand on Escalators

Calculation and KnowledgePhilosophy and Methodology


Here is the problem, according to Steven Landsburg:

Taking a step has a certain cost, in terms of energy expended. That cost is the same whether you're on the stairs or on the escalator. And taking a step has a certain benefit...

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The one question you must never ask an economist

Calculation and KnowledgePhilosophy and MethodologyPolitical Theory


Economists are everywhere. Steve Levitt, Tim Harford and Steven Landsburg use newspaper columns and best-selling books to show how economics can account for why drug dealers live with their...

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Gore: Ignorant or Dishonest?

The EnvironmentCalculation and Knowledge


In his July 1, 2007, New York Times Op-Ed piece, "Moving Beyond Kyoto," Al Gore states:

Consider this tale of two planets. Earth and Venus are almost exactly the...

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John Galt Lacks Appropriate Neural Firing

Taxes and SpendingCalculation and KnowledgePhilosophy and Methodology


From the University of Oregon comes this: A psychologist and two economists have conducted a study that proves that we, as good little citizens of the regime, are made happy by the extraction of our wealth in the...

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Environmentalist Bugaboo Loses Support

The EnvironmentCalculation and Knowledge


For years, the environmentalists have been trying to have it both ways, claiming that in the midst of the global warming that they allege, Europe might suffer an ice age. According to this scenario, ships would sail through an ice-free Arctic Ocean but be unable to unload their cargos in the ice...

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