Carbophobic socialism rules OK!

Unsurprisingly, the latest missive from the Doomsday cult of tax-exempt Phyllakes plays up the supposed horrors of ‘climate change’ for all it’s worth, before strongly recommending that we ‘Rich’ people bear most of the costs of their megalomania, neatly employing a weepy-eyed catchphrase - “Human Solidarity in a Divided World” which they know will appeal to anti-capitalist journos, to the MTV generation muddle-heads, the celebrity serial child-adopters, and the billionaire rock-sta

“The Cradle of Liberty”

That’s the nickname of the Boston area, a nickname that appears to be applicable once more. Massachusetts looks to be the forefront of another revolution: the revolution to end the income tax. Last week, the Patriots over at the Center for Small Government reported that 100,000 signatures were delivered for validation and certification. This is another step in the arduous process to gain ballot access. Should the issue pass, the income tax in Massachusetts is done ... stick a fork in it.

Buckley Revealed

[In his 20s, Murray Rothbard wrote a newsletter called The Vigil, in which he wrote the following review of William F. Buckley, Jr., “A Young Republican View,” The Commonweal, January 25, 1952.]

Mechanism Design and the Free Market

Like most of the important results in mainstream economics, the prize-winning work in mechanism design is very elegant mathematically, and offers many counterintuitive results — yet it has precious little bearing on the case for (or against) laissez-faire capitalism. Those who think otherwise are relying on a simplistic and naïve view of how the market and government actually operate. Before arguing this point, we should first review some basics. For those who equate “the free market” with “atomistic individuals who reduce everything to money,” it is obvious why the insights of mechanism design appear to impugn pure capitalism, and to justify enlightened government tinkering with spontaneous outcomes. Yet this view relies on a false caricature of the market economy, and a naïve faith in political action.

Efficiency and Externalities

The Mises Institute is very pleased to re-issue Professor Roy Cordato’s book on efficiency in the Austrian tradition. The problem of externalities and efficiency is cited relentlessly in mainstream literature as the great rationale for government intervention. The Austrian tradition, however, takes another approach, viewing these supposed problems as having market solutions that depend on a view of economics rooted in an understanding of the competitive process.