Bridge of Freedom

It turns out that France’s spectacular new Millau bridge, the tallest and surely the most beautiful ever built, was financed without taxes and at a fraction of the price taxpayers might have otherwise forked over. This SFChron article tries to come to terms with the price difference between this private brdige ($522 million) and the Bay Bridge ($5 billion).

State of Fear

After reading Michael Crichton’s latest book, State of Fear, I bought a copy of it as a Christmas present for a family member. This isn’t the “normal” Michael Crichton book. For one thing, unlike many of his books, there isn’t an over-aggressive company engaging in reckless behaviour. Rather, the target of scorn is rightfully the environmentalist movement, and the fanatic fear-mongering regarding global warming.

Post-Christmas Tree Tip

When you throw out the Christmas this year, leave the lights on it and let the garbage people haul the whole mess away. Everyone knows that taking off the lights is the most frustrating part of taking the tree down. They get tangled, stepped on, and cause tree needles to spread. The old lights won’t shine as bright next year in any case, and you will be spared the frustration that comes with untangling and repairs. But wait. Isn’t this wasteful?

Mises on Risk

I’m co-author of a forthcoming legal book on political risk, International Investment, Political Risk, and Dispute Resolution: A Practitioner’s Guide. My co-author, an excellent but mainstream international lawyer in Paris, has added to the draft the following paragraph on the nature of “risk” and “profit opportunities”, and he has quoted Keynes. I am not happy with the description of the nature of risk and profit opportunities nor with the quote of Keynes.

Tyrannus in Titula

There are different forms of tyranny. There is tyrannus in regimine, a home-grown despot who comes to power through (more or less) legitimate means and then begins to abuse that power and oppress people. If the tyrannus in regimine plays his cards right, he can pay off enough and protect enough interest groups to stabilize his rule. In terms of prudence, it might be better to put up with him or attempt to restrain him than to overthrow him – at least this is what Jefferson taught. The second kind is the tyrannus in titula.