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Category Archives: Economics

Sharia against success

When the muezzin calls the faithful to prayer, part of his call is “come to success” (Hayya ʿala ‘l-falāḥ, literally “hasten to success”). The idea is that Islam leads to success in this world and the next. For the key problem in Islam is ignorance, and the answer to ignorance is guidance; specifically, the instructions given to […]

Austrians and Marxists are wrong about the state

In 1718, after admiring how orderly his recently conquered province of Livonia was, Peter the Great (r.1682-1725) commanded an enquiry into how this was so. The enquiry found that the Swedish crown had spent as much administering Livonia as Peter spent administering the entire rest of the Russian Empire. Peter promptly dismantled the provincial administration. In […]

First they came for the pagans and the queers

The upside of Mozilla’s purging of Brendan Eich is various folk are getting the point that penalising opinion and purging workplaces is so not a good idea. The downside is a lot of folk just don’t get the bigger issue. This piece, for example, First They Came For The Mormons, exemplifies the common notion that “this” started with […]

Robert Waldman’s really clever, very bad, idea

Over at interfluidity, Robert Waldman posted a really clever bad idea. Tax property rights on things where exclusivity has high costs on others (he nominates real estate and patents) at whatever price the owner sets — with the proviso that the state (or possibly all comers) then have the right to acquire the property at the […]

The curse of managerialism

The ideology of managerialism (that societies are equivalent to the sum of the transactions made by the managements of organisations) must be just about the only case of an ideology whose key figure was an Australian. As Prof. James Hoopes tells it: But the main genesis of managerialism lay in the human relations movement that took root at […]

One In A Million

I’m sure his family love him but I am REALLY getting tired of spending my Christmas with Iain Duncan Smith and am hoping the bi-annual ESA renewal form isn’t going to turn into a new household tradition. Wrapping paper? Check. Tinsel? Check. New nerve conduction test? Damn, there’s always something… Nearly a million people who applied […]

The shipping news

The IT explosion has led to a dramatic increase in the casual use of TLA’s (three letter acronyms) and neologisms.  One of which is “shipping” — postulating a relationship between two fictional characters (typically from a TV series) which is not an explicit part of the story. A lot of fanfic (fiction written by fans) is […]

The reactionary effect of Marxism

Who make up the one group that humanities and social science academics typically feel entitled to analyse and pontificate about without actually studying them in any serious sense? Without talking to them, following them around, examining their letters, documents and memoirs, or reading the work of anyone who has. That would be business folk. (And […]

What is it about money?

I was going to hold off blogging until the New Year, but irritation drove me to posting … In a recent article, Alan Kohler had this to say: The real war is between monetary policy and the Digital Revolution – between the world of finance trying to reduce the value of money and therefore debt, […]

Autumn Statement

The welfare state is unaffordable, George Osborne will tell MPs this week, and permanent cuts will be required to make the public finances “sustainable”. The Chancellor will use his Autumn Statement on Thursday to set out more details of a new cap on welfare spending after the next general election. It is an attempt to […]