David R. Henderson  

How Cool!

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Notes for a Talk... Why TARP was wrong...

Right now I'm on a flight from Dallas to LAX. This is the first time I've been on-line in mid-air. It's fantastic. If you want to see a great 4-minute riff by Louisck that puts everything in perspective, check the following:

http://www.youtube.com/watch?v=8r1CZTLk-Gk

One correction: everything's amazing and I'm happy. I've listened to this over 20 times and it helps me every time I'm sitting on a runway for 30 minutes. In fact, I played it on my iPod for a young woman I was sitting beside when we sat at DFW Thursday night for 25 minutes waiting for the gate to clear. I'll share it with my class when I teach economic growth and/or distribution of income.

My mantra: I love free markets.


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COMMENTS (4 to date)
John S Cook writes:

And how much of this wonderful stuff has its origins in publicly funded research and development that is both international and intergenerational. The difficulty with your mantra of 'free markets' is precisely that it is a mantra. Markets do not exist until there are understandings and agreements on which markets can be based. Who pays for basic research and who ends up paying for misunderstandings and disagreements when they happen.

Jody writes:

John, free markets != anarchocapitalism.

Hyena writes:

I predict that at least a quarter of the class has heard this.

Pandaemoni writes:

Everyone knows that the biggest problem with the world today is that it is insufficiently magical.

Hence the MC Frontalot song "First World Problems." Expectations adjust quickly, and discontent arises when reality differs from current expectations, not based on a comparison of the world today against what it was on some long since past reference date.

In typing a longer version of this post, I accidentally closed the browser tab, losing everything I had typed...and I was really annoyed. (First world problem.)

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