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Star Trek: Markets on the Edge

By Akiva Malamet | Mar 16 2024
In my previous post, I discussed why Star Trek’s Federation, despite its calls for peaceful diversity, fell just a bit short of their aim. In this post, I switch gears from culture and ideology to economics. In the Federation, most goods and services are produced via replication. The need for production and trade via the ...

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Star Trek: Just Short of Utopia

By Akiva Malamet | Mar 10 2024

Star Trek is often seen as utopian science fiction, but a close look shows that the world of the Federation is not as peaceful and inclusive as it first appears. Following Gene Roddenberry’s dream of a future society lacking prejudice and focused on inclusion, social and legal equality, and egalitarian post-scarcity economics, Trek is well-known .. MORE

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Nicely done. I think people who just experiment with LLMs from time to time, rather than using them on a daily basis have a hard time understanding how they can be used effectively. Asking clear..

William Bruntrager, March 7

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Liberty

A Victory for Freedom of Choice

By David Henderson | Mar 18, 2024 | 8

In February 2012, I wrote on EconLog: Nevertheless, there is a way that the federal government now cuts access to contraceptives in a way that substantially raises the cost. Were the government to get rid of the regulation that does this, women’s access to contraceptives would rise and the cost would fall. What is the .. MORE

Uncategorized

The American Dream Isn’t Dead, But Its Pulse Is Weak

By Vance Ginn | Mar 18, 2024 | 0

A recent ABC News/Ipsos poll reveals 69% of Americans believe the American Dream, once a beacon of hope and aspiration, no longer holds true. The cornerstones of this dream, characterized by the opportunity for homeownership, family life, financial security, and upward mobility, seem elusive to many. It’s too often overshadowed by economic uncertainties and social .. MORE

Taxation

Does Taxing Capital Encourage Capital Formation?

By Scott Sumner | Mar 17, 2024 | 30

At first glance the answer seems obvious—no.  But not everyone sees things that way. Here’s Bloomberg: Biden will also ask lawmakers — as he did in last year’s budget request — to impose the 21% minimum on multinational corporations, which the White House says would result in substantial new taxes on pharmaceutical companies. He also .. MORE

Books: Reviews and Suggested Readings

My Weekly Reading and Viewing for March 17, 2024.

By David Henderson | Mar 17, 2024 | 3

First, Happy St. Patrick’s Day. Now to the news. DEI killed the CHIPS Act by Matt Cole and Chris Nicholson, The Hill, March 7, 2024. Excerpt: The Biden administration recently promised it will finally loosen the purse strings on $39 billion of CHIPS Act grants to encourage semiconductor fabrication in the U.S. But less than a .. MORE

Central Planning

Definitions and the Euphemism Treadmill

By Kevin Corcoran | Mar 17, 2024 | 2

I posted recently about how some people try to use definitions to shortcut discussion about various issues. This is closely related to an idea Steven Pinker calls the “euphemism treadmill.” In short, this describes how people attempt to relabel ideas or concepts to improve their appeal. The process was once explained in the following way .. MORE

Books: Reviews and Suggested Readings

Star Trek: Markets on the Edge

By Akiva Malamet | Mar 16, 2024 | 3

In my previous post, I discussed why Star Trek’s Federation, despite its calls for peaceful diversity, fell just a bit short of their aim. In this post, I switch gears from culture and ideology to economics. In the Federation, most goods and services are produced via replication. The need for production and trade via the .. MORE

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Books: Reviews and Suggested Readings

From the Fourth Millennium, A Tale for Libertarians 38

In 3024, the world was divided into many different societies. Most of them had a minimal state inspired by the ideas of 20th-century economists and political philosophers, notably Anthony de Jasay’s “capitalist state.” The mission of such a state was to ensure that it would not be replaced by a state intent on “governing,” (that .. MORE

Free Markets

Against the State and Its “Public Goods” 28

This is the title of my anniversary review of Anthony de Jasay’s Social Contract, Free Ride, just out in the Spring issue of Regulation, under the “From the Past” rubric. The highlights of the book, as quoted from my review: De Jasay argued that the main justification for the state—that it produces or finances so‐​called .. MORE

Books: Reviews and Suggested Readings

A “Window” into Modern Economics: The James M. Buchanan Archives 2

James M. Buchanan won the Nobel Prize in 1986. Shortly after that, the Buchanan House at George Mason University was constructed to serve as both an office and an archive of Professor Buchanan’s life work. There were also the Collected Works projects that were undertaken at the Buchanan House – first Professor Buchanan’s 20 volumes .. MORE

Book Reviews and Suggested Readings

Economists Waging War

By David R. Henderson

A Book Review of Economists at War: How a Handful of Economists Helped Win and Lose World Wars, by Alan Bollard.1 Most economists go through their lives wondering if any of their work has had an effect on the world beyond academe. The seven economists that Alan Bollard writes about in Economists at War probably .. MORE

Can Capitalism Survive?

By Benjamin A. Rogge

One of the signs of advancing age in the American college professor is a tendency for him to write less and publish more. This seeming paradox is easily explained by the phenomenon of Collected Works, that is, by what on television would be described as reruns. As in television, no great public outcry is needed .. MORE

Milton Friedman’s Many Battles

By Arnold Kling

Characteristically, Friedman had a contrarian take on the Washington consensus. Ironically, the turn toward markets gave new life to the classic institutions of the postwar managed economy, namely the World Bank and the International Monetary Fund (IMF). No longer working to stabilize a gold-backed currency, the two international organizations offered loans to emerging economies—typically conditional .. MORE

The Sky Is Falling (Again): Two Cheers for Decadence, and a Third for a Return to Capitalism!

By Nikolai Wenzel

A Book Review of The Decadent Society (How We Became the Victims of our Own Success), by Ross Douthat.1 New York Times columnist Ross Douthat brings us a breathless and demoralizing story of the decline of Western civilization. The book raises a few meaty points about the Zeitgeist, but it overextends its reach, attempting to .. MORE