Lay and Skilling are hardly alone. The difference is that they are going to prison. This was not a case of executives looting their company and then hiding those assets in offshore bank accounts and absconding with their ill-gotten gains. Instead, it was a case of executives who believed their own hype — and that of the financial press — and failed to apply the fundamentals of sound business practices to their decisions.
The Austrian School of economics arose in opposition to the German Historical School; and Carl Menger developed his methodological views in combat with the rival group.
The problem with this assumption is that it is quite impossible to construct a scale of measurement for human preferences — both for individuals and especially for groups of individuals.
In a series of posts to an Internet discussion group several years ago, David Friedman severely criticized Murray Rothbard's account of Adam Smith in his Economic Thought Before Adam Smith
Based on correspondence from this piece on kids and the web, the number-one issue that makes parents reluctant about the web is its red-light district. Well, let me cut to the chase: K9webprotection is a free program that solves the problem, and better than any of the others I've tried.
A new federal report on hurricane damage, writes Lew Rockwell, argues that we certainly need local and state regulations, certifications, and licenses.
Government involvement accounts for the internet's continuing problems, while the market should get the credit for its glories.
Gregory Bresiger says that Regulation National Market System's June 29th trade-through rule mandate had become a dead letter. But the regulatory state — massive, expensive, and Byzantine — survives.
