Here is a great 5 minute video where David Stockman is interviewed. It provides the historical backdrop of Ronald Reagan and the “deficits don’t matter” Republican ideology. The Fed’s bond bubble is discussed. It would make a great classroom video presentation and discussion.
Most online versions of this video have the host’s final comments deleted.
Many oil-rich countries subsidize the sales of gasoline. Venezuela sells gasoline for less than 2 cents a gallon. The average per capita gasoline consumption is 413 kilograms. In neighboring Columbia gasoline is $4.72 and per capita consumption is 60 kilograms.
I have a new paper with John Chapman and Mario Mondelli, “Private Equity and Entrepreneurial Governance: Time for a Balanced View,” in the February 2013 issue of the Academy of Management Perspectives.
April 15th is a horrible day, because it sums up all the wealth destruction called taxation that we are subjected to all year long.
On this date in 1913, from the New York Times:
Mainstream economists, especially those of the Chicago School, have often tried to dismiss the Austrian School as a cult. Here Walter Block takes on a couple of those accusers.
Julian Sanchez has carried criticism of the Non-Aggression Principle (NAP) to a new level. The principle tells us not to commit aggression; but, as Matt Zwolinski and others have pointed out, you don’t know what counts as “aggression” unless you know what rights people have. You can’t judge who the aggressor is simply by seeing who uses force first. The person who does so may be responding to a violation of rights and not be an aggressor at all.
Nicolás Cachanosky, who recently completed his PhD at Suffolk University under Ben Powell (now at Texas Tech running the new Free Market Institute), has been hired by Metro State. Nicolás fills the position I vacated when I completed retirement from Metro following the Spring 2012 semester. Nicolás has just posted a new and potentially very important working paper “U. S.
