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And It has a Link to a Beautiful Photo of a San Francisco Landmark

Ernie G. – who describes himself as a “faithful student at Cafe Hayek” – asks that I post again a link to this August 2011 entry.  Happy to oblige, Ernie! Here’s the conclusion of that post from a year and a half ago: Economists who offer advice to drivers of public policy without pausing to [...] [...]

The economics that’s in demand

In the latest EconTalk, Pete Boettke makes the case (based on his book, Living Economics) for what he calls mainline economics–the tradition going back to Adam Smith via Hayek and others, with a strong emphasis on spontaneous order. He also has a very nice tribute to Jim Buchanan–we recorded this just after Buchanan passed away. [...] [...]

Quotation of the Day…

… is from page 292 of Vol. 19 (Ideas, Persons, and Events [2001]) of The Collected Works of James M. Buchanan; specifically, it’s from Jim’s 1996 essay “Adam Smith as Inspiration”: To suggest, with welfare economists, that market failure supports politicization, there must be not only departures from the necessary conditions for efficiency, but also some presumption that [...] [...]

Testing Jonathan Haidt

I happened across this paragraph from the site breastcancer.org – not a political or ideological site: Biopsy is usually a simple procedure. In the United States, only about 20% of women who have biopsies turn out to have cancer. By contrast, in Sweden, where cost accounting is much stricter and only the most suspicious lesions [...] [...]