Lynne Kiesling Eric Helland, guest-blogging over at Marginal Revolution, posts on whether or not GPS is a good candidate as a public good. Like Eric’s colleague, I grapple with the public good concept (as Mike mentioned earlier this morning) and share the misgivings Eric reports. For me the question boils down to the degree of …
Steve Verdon has a thought-provoking post with good links on the potential value of a synthesis of Austrian economics and evolutionary game theory that focuses on learning. One of the problems even for the more sophisticated models of learning in games is that the economist still pretty much has to specify the environment, and if …
Learning In Game-theoretic Models And Austrian Economics Read More »
One of the readings for today at the PFF IRLE workshop is Chapters 6-8 of the “Can Capitalism Survive?” section of Schumpeter’s Capitalism, Socialism, and Democracy. I think this is one of the most important economic works ever written, notwithstanding the fact that much of Schumpeter’s doom and gloom fear for the future of capitalism …
A great group of free-market environmentalist analysts and scholars have started up The Commons, a site dedicated to discussion of “environmental quality and human dignity through free markets and property rights”. I recommend it highly and encourage you all to visit. In walking the talk by establishing transparent rules for the use of the site, …
Welcome To The Commons, Here’s How Not To Overuse It Read More »
Not surprisingly, I am really enjoying Russ Roberts’ and Don Boudreaux’s Cafe Hayek. Take, for example, Don Boudreaux’s recent post on Kerry’s reinvocation of the misery index, a 70s concept that should have, like Seals & Crofts and Hall & Oates, stayed in the 70s: One of my most powerful memories of the 1970s is …
I second Virginia Postrel’s recommendation on reading David Brooks’ column on FedEx and productivity. I think he is correct. I especially like the way he says Over the next seven months, the politicos are going to argue about the economic merits of the Republican years versus the Democratic years. That’s a crime against intelligence. The …
Logistics, Technological Change, And Productivity Read More »
Being systematic, here are the primary reasons for the rise in gasoline prices in March 2004: 1. High world crude oil prices. These prices are partly the consequence of conscious OPEC supply constriction to raise price. OPEC?s ability to do so is typically constrained by three interrelated factors: the world demand for oil, cheating on …
What a beautiful place … my husband flew to London and we sandwiched in a couple of days of hiking in the Peak District. And except for the vividly colored foliage, which is not in bloom in early March, it pretty much looks like that picture. We did 10 miles of hiking both days. The …
On Friday I attended an important event in Chicago that shines an optimistic beacon into the stagnant state of electricity policy. The event was the announcement of the first year’s results of the Community Energy Cooperative’s residential demand response program. This program’s results are exciting, and should open our thoughts to a wider range of …
Residential Demand Response is Alive and Living in Chicago Read More »
Yeah, what Alex Singleton said: Where there is only ‘voice’, we are told that we have to wait our turn. We are told to take into account the requirements of other consumers. We are told to be grateful for what we have. ‘Exit’ is much better than ‘voice’. This is because market forces work. Public …
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