Tag Archives: externalities

Ronald Coase (1910-2013)

I was intending to make this my Wednesday post for last week, but my iPad ate my draft in Pages (it will not open or email the document: any suggestions for getting to the document would be welcome). But delaying for a week allowed me to provide a more complete post.   Ronald Coase, the […]

Social bully politics

I have previously articulated what I call the paradox of politics (or the paradox of rulership)–we need the state to protect us from social predators but the state itself is the most dangerous social predator. The paradox can never be solved, merely managed more or less well. The guardian delusion The delusion that one can solve […]

Bubble trouble: all information is not equal

This post is partly prompted by this comment and this paper (pdf) (via) on the US housing price bubbles and busts and (greatly) extends this comment by myself. It is also a response to the work of mathematician-turned-historian Andrew Odlyzko. In a previous post, I argued that easy monetary policy was not to blame for the asset booms […]

Your merit good is not meritorious, therefore it has been cancelled

Instead of doing, you know, actual work last night (how do I hate thee HMRC, let me count the ways), I spent quite a bit of the evening reading articles and responding to the news that new Queensland Premier Campbell Newman has cancelled (I’m not sure if that’s the right word, but never mind) the […]