Tag: Uncategorized

Note to Gov. Brown on Medical Liability Law: If It Ain’t Broken, Don’t Operate »

California’s “tort wars” are heating up, and Dan Walters of the Sacramento Bee notes: “The big question is whether plaintiffs’ attorneys will try again to overturn the $250,000 cap on pain and suffering damages in medical malpractice cases that Gov. Jerry Brown signed in 1975.” If increased by legislators—instead of by voters at the...
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Recommended Reading: Challenge of Liberty Student Seminar »

Recommended Reading: Challenge of Liberty Student Seminar Colorado Springs, June 17–21 2013 Below you will find the reading for the summer seminar. To fully understand each lecture, you will want to at least look at all the preparatory readings. The supplemental readings are less necessary. See especially the Plato, Cochran, and Higgs items. Monday:...
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ABCs for Today’s Public School Students »

A is for Alzheimer’s Disease. If you eat lots of vegetables and floss your teeth, you will live a long time and get this condition as your reward. B is for Baconator. If thou shouldst ever eat one, thou shalt surely die. C is for Crumbling Infrastructure, an incantation government officials mutter when they...
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Italy’s Populists »

The populist reaction against Europe’s crisis continues to move south, as exemplified by the astounding success of the Five Star Movement led by comedian Giuseppe Grillo, which became Italy’s largest single party in the recent general elections. An organization that has been in existence for three years, the Five Star Movement has capitalized on...
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Don’t Rely on a Quack Doctor »

A man goes to his doctor for a routine checkup. The doctor performs a perfunctory examination and informs him that unless he receives an experimental treatment the doctor has devised, he will soon become disabled. “What’s it cost, Doc?” the man asks. “Well, unfortunately it’s not cheap, Mr. Smith, and I can’t tell you...
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The Federal Fiscal Horse Runs Uphill, but Not Downhill »

Funny, isn’t it? When federal spending was accelerating like a race horse bolting out of a burning barn in FY 2008 and FY 2009, Congress did not encounter any insuperable problems in appropriating the huge amounts of additional funds (and running up the public debt rapidly to pay for its sudden extravagance), but now...
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Monetary Policy and Heightened Price Volatility in Raw Materials Markets »

Despite the Fed’s breathtaking increase of base money since the autumn of 2008, the money stock as measured by conventional concepts such as M2 has not increased greatly, and hence, as ordinary quantity-theory-of-money thinking would lead us to expect, inflation as measured by conventional concepts such as the consumer price index (CPI) has been...
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Stream of Conciousness Ramblings, Somewhat Related to James M. Buchanan »

A bottle of Jack Daniels is sitting on our kitchen counter, the result of a fire in our microwave oven. The oven was destroyed so we ordered a replacement, which was supposed to be installed a few days ago, but the installers who showed up couldn’t get the new oven into the spot where...
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More Monetary Peculiarities of the Past Five Years »

Two months ago, I wrote about the extraordinary increase in the demand for money during the past five years, noting in particular the substantial decline in the velocity of the M2 money stock. I also noted that M2 has increased about 38 percent since late 2007. In the present post, I call attention to...
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I, Pencil: The Movie »

In 1958, Leonard E. Read wrote “I, Pencil”—a short, brilliant essay about how markets coordinate the countless steps that go into making an ordinary pencil. In addition to its insightful substance, the essay is also noteworthy for Read’s clever literary device: the story is told from the perspective of a pencil. The piece ran...
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