Blog Review 866

2918

blog-review-866

What Adam Smith actually said about the banks....and can we please put this "invisible hand" thing to rest?

With Alex Renton's misunderstandings of the food market there's a certain wonder that he manages to remain nourished.

My word, this anti-terrorist legislation is effective, isn't it?

If certain economies (say, Continental European) have structurally higher rates of unemployment than others (say, Anglo Saxon or even Nordic) then that rather damages the Keynesian case that unemployment comes from a lack of aggregate demand, doesn't it?

A reminder to those who argue for higher taxes: you can always raise your own voluntarily, you know? (HMG runs a similar scheme, cheques to "The Accountant", 2 Horse Guards Road).

Wouldn't it be interesting if we had a truly "accountable" government?

And finally, what they are spending those unaccountable higher taxes on. Charlatans.

Dr Eamonn Butler on Radio 4's You and Yours

2912

dr-eamonn-butler-on-radio-4-you-and-yours

Click here (38:44) to listen to Dr Eamonn Butler discussing emigration and the future state of the UK economy on You and Yours this morning.

Blog Review 865

2908

blog-review-865

You know, it might just be that infrastructure spending isn't quite the way to revive an economy?

But if we are going to be all Keynesian about these things, might we not do what Keynes actually thought was a good idea?

Question: why are people listening on the subject of macroeconomics to people who are not macroeconomists?

It's happening in the streets now, these protests against the fat cats who don't pay their "fair share" of taxes.

Netsmith might need a little lie down in a moment. In praise of Hazel Blears.

Politics is as politics is: Obama's already breaking pledges.

And finally, the phrase of the day. "The process of quantifying our ignorance".

Quote of the week

2905

and-another-thing

“Bringing the Government in to run Wall Street is like saying ‘Dad burnt dinner, let’s get the dog to cook’."

P.J. O’Rourke, on the US banks’ bailout

Blog Review 864

2900

blog-review-864

Do you remember when $30 billion was a lot of money?

Wasn't the problem that we didn't know what the correct prices were in the first place? To find out that the government overpaid is not all that much of a surprise is it?

Explaining AIG using the ever popular two cows method.

An excellent solution to the American problems with the trial lawyers.

Now really is not the time to be increasing statutory redudancy payments.

One way to get the housing market moving.

And finally, yes, there is such a thing as too much time on your hands.

Blog Review 863

2897

blog-review-863

Further proof that protectionism really isn't all that wise.

And other political ideas are even less sensible.

This talk about green shoots of recovery. Might it actually be true?

Although this might not be true in every country.

Climate change and global warming.

Wouldn't it be terrible if families just sorted it out themselves? Whatever it is?

And finally, a stimulus proposal we can really get behind!

Blog Review 862

2896

blog-review-862

It seems that no one wants to use Burke's small battalions any more: to our increasing poverty.

Yes, it is true, Adam Smith really did predict Gordon Brown.

The bad bank proposal is even worse than you thought it could be.

Perhaps resolution (that's bankruptcy by another name) might now be better?

One more economist opposed to the fiscal stimulus.

Staggering: sales fall by 32% and market share rises?

And finally, well, and finally.

The Rotten State of Britain

2880

the-rotten-state-of-britain

Some readers might remember Will Hutton's 1995 book The State We're In. It beat up the Thatcher/Major government for how bad things were: overcentralized government, a politicized civil service, huge private and public borrowing, Britain isolated in Europe and the world...

Well, nice try, Will, but Britain's in an even worse state today. It's even more centralized and politicized, even more despised by other countries, and a whole lot more bust. We're nannied, spied on, and bossed about even more. And we've spent trillions of extra cash on our public services – to what result?

The trouble is that, as these political outrages unfold one by one in the newspapers, it's impossible to see the full, shocking picture of what's really happened – and is still happening – to this once-proud country. Like an impressionist painting, you need to stand back to see the reality.

So I've written a new book – The Rotten State of Britain – in which I do just that. I've woven twelve years' worth of facts into a damning indictment of our rotten government, politicians, economy, welfare, healthcare, education, society, values, and the rest. And I've explained how we can stop the rot.

You'll see a link to the book on the right-hand column. It comes out 26 February, but you can pre-order it, at a discount, right now by clicking the link. And every book you buy from the right-hand column brings the Adam Smith Institute a few pennies from Amazon – so get clicking!

The Next Generation with David Davis MP

2888

the-next-generation-with-david-davis-mp

On Tuesday night we held our first Next Generation reception of 2009, with David Davis MP there as speaker and guest of honour. Despite the freezing weather and the transport chaos it sparked, the event was as packed as I can remember a TNG being. Mr Davis' 10-minute speech was a wide-ranging and robust defence of liberty in the economic and civil spheres, and plainly hit home with the young audience.  And although he had to rush to the House of Commons to vote, Mr Davis came straight back to spend the rest of the evening talking informally to our guests. Next Generation events are open to those aged 16-33, and usually take place in Westminster on the first Tuesday of every month. If you would like to join the TNG, sign up here via our website or, better still, become a member of our Facebook group.

Blog Review 861

2884

blog-review-861

It isn't actually clear that migrant labour damages either British jobs or wages.

Proof though that trusting markets does indeed work in the medium to long term.

I think we can say that there probably is a credit crunch, yes. Or at least a credit contraction.

That your city has pockets of loyal natives all over the country isn't in fact good news.

Are multiple births a status symbol? A Veblen Good?

While it's glorious to see the biter bit, shouldn't those teeth be gnawing a little more vehemently?

And finally, old jews telling jokes.