The Greek government places price controls on many types of fuel, and to the extent that the controls correlate, more or less, to existing supply and demand conditions, they are harmless in an economic sense. But today’s news tells of a smothering smog enveloping Athens as Greeks increasingly choose lumber over heating oil to warm their houses.
A great, uplifting song for kicking off the first day of the new year. “It’s hard to dance with the devil on your back, so shake him off!” Interpret it as a motivational anthem for the free (market-civil-and-family) society, and the “devil” as the imperial, parasitic state.
Be sure to read any you missed!
The Indian Journal of Economics and Business recently published a revised version of my testimony to Congress in Vol 11, no.
Not only is he still alive but the Nobel Laurette is working on a new book and is starting a new journal. He recently published an article in the Harvard Business Review criticizing modern economics for not being realistic.
Here is Murray Rothbard’s comments on Coase’s lectures. Go to page 253.
“Austrian School of economic thought gaining influence as nations tackle debt.” Mark Thornton, GP Manish, and Malavika Nair are quoted.
Last Wednesday (Dec 26, 2012), I posted the following comment on The Amazingly Popular Bush Tax Cuts by Randall Holcombe:
I love Walter Block and Bill Bennett. In their paper, “Involuntary Unemployment” (Dialogue, Vol. 1, 2008, pp. 10-22), they write on the persistence of Keynesian theory despite its failures to explain real-world economic phenomenon:
The war on cash in Sweden may be stalling. The anti-cash movement has been vigorously promoted by major Swedish commercial banks as well as the Riksbank, the Swedish central bank. In fact, for three of the four major Swedish banks combined, 530 of their 780 office no longer accept or pay out cash. In the case of the Nordea Bank, 200 of its 300 branches are now cashless, and three-quarters of Swedbank’s branches no longer handle cash.
