Category Archives: Blogging

The uselessness of “bubble” talk

This is based on a comment I made here. If turning points in asset prices could be reliably predicted, they wouldn’t happen (since no none would buy at the “about to be seriously undercut” price). The “bubble” folk don’t seem to understand that calling it a “bubble”: (1) entails not knowing when the turning point will […]

Why there is so much nonsense spouted about fascism

If you are going to invoke the interwar period, particularly the 1930s, please do so intelligently. By which I mean, non-propagandistically. And by interwar period I mean the phenomenon of fascism and neo-fascism. Despite self-serving (look at me, I am opposing fascism!) shrieking, there is not a lot of fascism or neo-fascism in contemporary Western politics. […]

Multiculturalism is an experiment that might fail

Multiculturalism has become a sacred marker of progressivism: one absolutely has to be in favour of multiculturalism, or one is not a good person. A person seriously critical of (let alone hostile to) multiculturalism is, in fact, outside the moral pale. There are deep problems with this. First is defining what one means by multiculturalism–there are quite a […]

Are we heading towards peak globalisation? The ages of trade, globalisation and IT

This is based on a comment I made here. The history of (long distance) trade can be divided into 4 eras, one of which is regional and transitional: Continental-coastal: outside local areas, trade was limited to thin networks of high value items with some (highly fluctuating) upward tendency in the extent of such networks, but […]

The Hugo awards and the decay of Western civilisation

The Hugos, for those unaware, are (speculative fiction/science fiction/fantasy) SF awards voted on by people at Worldcon.  Along with the Nebulas, they have long been the premier awards in SF. A few years ago, some SF writers got together and decided to push back against [what they saw as] the drift of the awards from their […]

The rhetorical appeal of The Donald

The Donald is a demagogue and central to demagoguery is wish fulfilment politics. Demagoguery is not about believing in things, but in saying whatever the audience wants to hear. (The real trick is saying what they want to hear but haven’t articulated themselves yet.) Say it well enough and almost any amount of contradiction will […]

Westerners have moral agency, Muslims have excuses

The recent case of a Norwegian left of centre politician who is apparently distressed that his convicted Somali rapist is likely to be deported has caused a minor online stir. I was, however, particularly struck by this statement: But perhaps the most notable lesson Hauken says he learned is that “rapists are from a world […]

Post-Enlightenment is the Counter-Enlightenment rebooted

There is a clear difference between the modernist Left and the postmodern progressivism. The modernist Left was an Enlightenment project, and proud to be so. This is the stream of political analysis and commentary represented in our time by such figures as the late Christopher Hitchens and Norman Geras, by Terry Eagleton’s jeremiads against post-modernism and by the Euston Manifesto. They are the […]

Against Austrian business cycle theory

Former Austrian school economist Bryan Caplan recently won a bet against Austrian school economist Bob Murphy on the path of US inflation. Caplan won by betting with the key market indicator (TIPS), Murphy lost by betting against it. At first glance, that the ex-Austrian won by following the market while the Austrian lost by not doing so might seem strange, but it […]

Why gold/currency ratios mattered in the interwar period

This is based on a comment I made here. I have been enjoying Scott Sumner‘s history of the Great Depression, The Midas Paradox: Financial Markets, Government Policy Shocks, and the Great Depression. Sumner provides a key ideas summary for the book here. The book is an examination of dramatic macroeconomic instability under a gold standard. In The Midas Paradox, Sumner gives the […]