When it comes to matters such as the theory of evolution and stem-cell research, so-called liberals—i.e., socialists who have stolen the name that once meant an advocate of individual freedom—ridicule religious conservatives for their desire to replace science with the dictates of an alleged divine power. Yet when it comes to matters of economic theory and economic policy—for example, minimum-wage legislation—these same liberals themselves invoke the dictates of an alleged divine power.

The NYTimes has a fascinating article about the obstacles confronting those who seek to establish a new government in Somalia. There have been several debates on this blog about the nature of anarchy as it currently exists in Somalia, and whether the country would be much better off than it is now if some sort of state governed it. The establishment of said state, though, is much easier said than done.

The Korea Times reports in this article on the increasing difficulty that the Korean central bank is having in managing its foreign (mostly dollar) reserves.

China Daily reports Nation to explore, expand use of forex reserves

From the KT:

I noted recently how many libertarians ignore or disregard the federalist aspect of our Constitution—e.g., when they use the term “government” to mean state and federal government. Including both state and fed governments in the term “government” is a subtle way to put forward the centralist idea that the Fourteenth Amendment gives all kinds of power to the feds to police state actions.

Seems Snoop Dogg just can’t stay out of trouble with the law lately. In today’s Orange County Register, I say he benefits society and should go free.

In Washington, words such as “cost,” “tax,” “subsidy,” “spending,” and other fiscal terms have no fixed meaning. For example, it is considered costly to cut taxes, and a subsidy to provide a tax break. This morning, we read that Bush wants to provide a tax break to low income people who buy private coverage, while taxing people “for some workers whose health plans cost significantly more than the national average.”

AOL News is reporting an AP story with the telling opening sentence, “Thirty years after it began as just another quirky movement in Berkeley, Calif., the push to ban smoking in restaurants, bars and other public places has reached a national milestone.”