Michael Perelman argues that economics is not an objective science, but an ideology, an apologia for capitalism promoted by the mercantile classes and their intellectual vanguard. Richard Vedder says “[a]s neo-Marxist accounts go, this one is far less polemical and hysterical than some, but it still simply does not accord with critical facts.”

The lessons of Iraq pose challenges for our understanding of the state. Consider the gap that separates the Bush administration’s original theory with the reality on the ground today. The idea was that the Iraqi government would be “decapitated,” and that once Saddam and his few henchmen were crushed, the country could breathe free and get on with the business of building a great society.

Education and social critic Alfie Kohn is an exhaustive researcher and engaging writer. I have not read all of his eleven original books, but I do highly recommend these two: Punished by Rewards: The Trouble with Gold Stars, Incentive Plans, A’s, Praise, and Other Bribes and Unconditional Parenting: Moving from Rewards and Punishments to Love and Reason. The titles and subtitles make clear his premises about human motivation and behavior.

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.