At a 1978 lecture, Milton Friedman talks about government spending and explains one of the greatest economic fallacies of all time, essentially another version of Bastiat’s “broken window fallacy.” HT: Drew Suder Originally posted at Carpe Diem.
German author Heinrich Böll noted that the monarchs and princes who established schools to teach reading and writing did not know what they were doing, as reading and writing makes people think rather than blindly obey the authorities. And Iranian … read more
Republican Governor of Florida Charlie Crist appointed his former chief of staff, George Lemieux, to fill the U.S. Senate vacancy caused by the resignation of Senator Mel Martinez. Lemieux is a place holder. He will not run for election for … read more
Updating the update on the Obama administration’s failure to send a high level emissary to the 70th anniversary commemoration of the start of World War II in Warsaw tomorrow—today the administration announced it was sending National Security Advisor General Jim … read more
My take on the implications of Japan’s elections—turning power over to the untested but charismatic DPJ—is here.
Felix Salmon writes: In an age where pretty much everybody agrees on the importance of increased regulation in the financial sector… “Pretty much everybody”? He needs to get out more. All of the heavy academic lifting of late has been … read more
In a positively illuminating Wall Street Journal column today, lighting expert Howard M. Brandston asks the government to take their hands off our lighting, or at the very least, to go first in uglifying the country’s lumen-verse. Brandston’s expertise in … read more
Dan Akst chats up Michael Winerip’s terrific piece on a 58-year-old formerly highly compensated executive named Michael Blattman who can’t find a job. Dan (who has written for us here and here) believes this episode says a lot about our … read more
As Nick Schulz mentioned in a recent post, Steven Brill of the New Yorker turned in a shocking look into the “rubber rooms” of New York City public schools. In the Big Apple, and other cities for that matter, many … read more
PRINCETON, NJ – Consistent with Gallup’s Consumer Confidence measure and the continued strong performance of the equity market, the Gallup Index of Investor Optimism — a broad measure of investor perceptions — in August hit a new 2009 high of … read more