October 11, 2009
Britain's Central Planning Death Panels
October 11, 2009
Free Market M.D.
October 11, 2009
Economies of Scale in Compliance
October 11, 2009
Balan's Challenge
October 10, 2009
The Pleasure of Telling Others What to Do
October 10, 2009
Gonick the Great - and How He Could Have Been Greater
October 9, 2009
More Scott Sumner
October 9, 2009
Not From The Onion
October 9, 2009
Thoughts on a Second Stimulus
Right now I am reading How The West Grew Rich, by Rosenberg and Birdzell (Basic Books 1986). It's a spectacularly good book, makes me notice again how much good stuff gets lost having gone down the river as new books get written. It's big on institutions allowing capitol accumulation and encouraging risk taking.
I plan to read Clark later, but find it hard to imagine that I'll think his new ideas should replace these well-buttressed old ones.
Why isn't comparative advantage enough to explain the sudden growth? The benefits from trade arise as soon as people start trading, but to do that effectively you need a certain amount of technology, e.g. steam engines.
In fact I wonder about Bryan's hypothetical of a few posts ago, "what if the American revolution failed?": in the century after 1776, England dropped its tariffs and launched the industrial revolution, would this have happened had the founding fathers been crushed?
Could you comment on the Barney Frank editorial in today's Boston Globe.