Fortune Sellers

It’s that time of the year when everyone wants to know the economic future. Although economists are highly involved in the prognostication business, their forecasting skill is about as good as guessing.

Peak Gold?

Analysis of the economics of gold price formation by the financial media is nearly all wrong. The majority of articles and research reports obsess about mine supply, as if it mattered (which it doesn’t see 1 and 2). There are additional pointless discussions about whether the gold industry is in a phony deficit or surplus (neither).

Low demand shutters hotel towers in Vegas

The same week that MGM’s $8.5 billion CityCenter is unveiled, the Sahara Hotel has closed two of its hotel towers for the holidays due to low demand.

This closure comes on the heels of Binion’s closing its 365 rooms downtown.

October marked the 22nd straight month of declining gaming revenues in Nevada and was the lowest single-month figure since December 2003, when casinos collected $767.4 million.

Political Paternalism, Big Government, and the Welfare State

We are living in a time when government is growing by leaps and bounds, and increasingly intruding into our lives.

The dangers from growing government may be encapsulated under a variety of headings that I discuss in an article of mine that appears today in the Christrian Science Monitor online, under the title, “Obama, Health Care, and the New Road to Serfdom.”

John Perry Barlow’s “The Economy of Ideas: A framework for patents and copyrights in the Digital Age”

John Perry Barlow‘s 1994 Wired article, “The Economy of Ideas: A framework for patents and copyrights in the Digital Age,” tagged: “(Everything you know about intellectual property is wrong.)”, is a classic. Written at the dawn of the Internet, it’s amazing how non-dated it is. It’s a fascinating, well-written, and insightful paper about the problems of applying classical notions of IP to the digital age. A few choice nuggets: