The Place for Property and Commons

Lynne Kiesling Ray Gifford has written an excellent a historical perspective on the property rights and commons debate in the digital sphere. He hearkens back to the Parliamentary enclosure movement of the 18th century in Britain to point out that The private decisions of multiple individuals will deliver an order in the face of uncertainty … More The Place for Property and CommonsMore The Place for Property and Commons

Adam Smith on the Politics of “People of Fashion”

Lynne Kiesling Michael Barone has an interesting column on Adam Smith as a political pundit. He riffs off of a quote from Wealth of Nations, Book V, Chapter 1, para. 199: In every civilized society, in every society where the distinction of ranks has once been completely established, there have been always two different schemes … More Adam Smith on the Politics of “People of Fashion”More Adam Smith on the Politics of “People of Fashion”

Windfall Profits? Spare Me

Lynne Kiesling Like “price gouging”, “windfall profits” is an economic non-concept that rears its ugly head in the political machinations surrounding exogenous economic dislocations like national disasters. Senators Cantwell and Dorgan, who are sensible on some other, electricity-related, energy issues, really get it wrong here. Steve Chapman’s column on the topic points out the economic … More Windfall Profits? Spare MeMore Windfall Profits? Spare Me

France Repeals the Laws of Economics (Hee Hee!)

Lynne Kiesling OK, I know criticizing Dominique de Villepin is like shooting fish in a barrel, but this one really cries out for it: After threatening oil companies with a big tax grab, French petrol prices fell slightly and Dominique de Villepin pronounced it a step in the right direction but not enough. Meanwhile, he … More France Repeals the Laws of Economics (Hee Hee!)More France Repeals the Laws of Economics (Hee Hee!)