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20 августа, 22:10

Bonus Quotation of the Day…

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(Don Boudreaux) Tweet… is from page 297 of my late Nobel-Laureate colleague Jim Buchanan‘s 1976 paper “Public Goods and Natural Liberty,” as this paper is reprinted in James M. Buchanan, Externalities and Public Expenditure Theory (2001), which is volume 15 of The Collected Works of James M. Buchanan: The modern economist may reject [Adam] Smith’s central notion […]

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20 августа, 21:21

Some Links

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(Don Boudreaux) TweetMarian Tupy, who grew up under communism, is not amused by nostalgia for communism – and especially not by the not-from-The-Onion (but from the New York Times) assertion that communism enhanced women’s sexual pleasure.  A slice: One has to wait until “Why Women Had Better Sex Under Socialism,” to meet an actual Eastern European. “Consider […]

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20 августа, 13:51

Quotation of the Day…

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(Don Boudreaux) Tweet… is from page 75 of my late Nobel laureate colleague James Buchanan’s 1986 paper “Notes on Politics as Process,” as this paper is reprinted in James M. Buchanan, Politics as Public Choice (2000), which is volume 13 of the Collected Works of James M. Buchanan: Politics that is confined to a few and well-defined tasks […]

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17 августа, 20:26

A Fusillade of Fallacies at Breitbart

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(Don Boudreaux) TweetBelow is a letter to Breitbart.  (I thank Scott Lincicome for alerting me to this mountain of economics mistakes.) John Carney’s essay “No. The U.S. Trade Deficit Is Not a Good Thing” (Aug. 15) is a fusillade of fallacies.  Among the worst is Mr. Carney’s claim that foreign direct investment “isn’t some vote of confidence […]

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17 августа, 15:51

Quotation of the Day…

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(Don Boudreaux) Tweet… is from page 110 of my late Nobel laureate colleague Jim Buchanan‘s 1980 paper “Rent Seeking and Profit Seeking,” as it is reprinted in volume 1 of The Collected Works of James M. Buchanan: The Logical Foundations of Constitutional Liberty: If allowed to function within a set of laws and institutions that protect individual property […]

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17 августа, 01:25

Trade’s Greatest Benefit

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(Don Boudreaux) TweetIn the August 17th edition of the Washington Post is a letter that I wrote to highlight the most important benefit of freer trade and the greater global economic integration that it promotes: increased prospects for peace. Regarding the Aug. 13 news article “China to N. Korea: You’re on your own if you attack U.S.”: Would […]

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16 августа, 23:00

Bonus Quotation of the Day…

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(Don Boudreaux) Tweet… is from pages 263-264 of my late Nobel-laureate colleague James Buchanan’s 1991 paper “The Minimal Politics of Market Order,” as this paper is reprinted in Choice, Contract, and Constitutions (2001), which is volume 16 of The Collected Works of James M. Buchanan: If resources are not allocated and products distributed through the workings of a market […]

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16 августа, 17:37

Some Links

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(Don Boudreaux) TweetThe Encyclopedia of Libertarianism is now on-line and ungated. Unskilled immigrants do not harm Americans. Jairaj Devadiga explains that jobs are destroyed by government, not by innovation. Doug Badger is not impressed with Obamacare.  A slice: Obamacare is insuring more poor people and uninsuring millions of middle-income people. That suits the Democratic party and many […]

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16 августа, 13:56

Quotation of the Day…

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(Don Boudreaux) Tweet… is from pages 48-49 of my late Nobel-laureate colleague Jim Buchanan’s 1996 paper “Economics as a Public Science,” as this paper is reprinted in Economic Inquiry and Its Logic (2000), which is volume 12 of the Collected Works of James M. Buchanan (footnote deleted): Economists often complain about the observed fact that “everyone is […]

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15 августа, 13:55

Quotation of the Day…

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(Don Boudreaux) Tweet… is from page 131 of my colleague Dick Wagner’s insightful 2016 book, Politics as a Peculiar Business (link added): Consider a variation on Henry Fawcett’s (1871) tale of Robinson and Smith.  Each started at the same point in life in similar occupations earning similar amounts of income.  Robinson spent all of his income, with […]

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14 августа, 22:29

Who’d a-Thunk It?

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(Don Boudreaux) TweetWe study the effect of minimum wage increases on employment in automatable jobs – jobs in which employers may find it easier to substitute machines for people – focusing on low-skilled workers from whom such substitution may be spurred by minimum wage increases. Based on CPS data from 1980-2015, we find that increasing the minimum […]

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14 августа, 20:44

Bonus Quotation of the Day…

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(Don Boudreaux) Tweet… is from page 277 of my late colleague Jim Buchanan‘s 1985 article “Constitutional Democracy, Individual Liberty, and Political Equality” as it is reprinted in Moral Science and Moral Order, Vol. 17 of The Collected Works of James M. Buchanan: Those persons who object to the explicit introduction of or an extension of constitutional limits […]