Blog Review 898

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When someone is given the Nobel for achievements in one are of economics that doesn't instantly make them experts in other areas of economics.

As one other Nobelist puts it, the current problems require a new understanding of the points Adam Smith made.

And the current problems are also laying bare quite how little we know about macroeconomics (as opposed to micro....)

For example, the Goldilocks Theory of Macroeconomic Stimulus.

One way of putting it, we don't have a British banking crisis, we have a Scottish banking crisis. A new Darien perhaps?

Don't try to trim government spending, slash it by simply stopping government from even attempting certain things.

And finally, OK, economists don't know everything about the economy but then that's not uncommon, for a science not to know all the answers.

Blog Review 897

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Equality's a big thing in lefty circles. Pity they don't actually mean it all that often.

And there's also lefty big style rewards at the top while the workers get fired.

If you're going to nationalise the banks then you do need to use a little bit of logic in deciding how and which ones.

To be hoped for of course, but it's very hopeful to think that this government will lead us to smaller government.

And more on this government. There are some things which government simply has to do and they don't do these essential tasks well if they continually try to do things which government doesn't need to do.

(Sweary alert) It seems obvious that this government still hasn't quite grasped the concept of competition as yet.

And finally, St Augustine and the Obamessiah.

Blog Review 896

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There's more management wisdom in this blog post than in most MBA courses.

No, it's true, nominal prices really are sticky downwards.

Technical, but what went wrong at AIG.

If rewards for failure are to be named and shamed in the private sector, should that also apply to Ministers in the public sector?

On the valuse or not of teacher training courses.

If a politician is going to hire an expert it's probably a good idea that the politician pays attention to what the expert says, no?

And finally, an old photo series explains new events.

Blog Review 895

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Climate change isn't a major preoccupation around here. But markets, even constructed ones, really do work.

When even Pat Buchanan is making noises about drug legalisation maybe we're actually getting somewhere?

Many seem to think that the rapid privatisation in the Eastern European states killed the workers. Turns out that this isn't in fact true.

There are indeed reasons to think that the various stimulus programmes will make things worse, not better.

An interesting example of truly abysmal science reporting.

Is it the people in government who are incompetent or is it government that is incompetent?

And finally, describing a new political party.

Blog Review 894

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This is one of the really annoying things about civil liberties. If you're going to take them seriously then you have to support them for even those people you disagree with.

On the theory and value of swearblogging.

One Nobel Laureate asks "Do we actually want to become French?"

It isn't necessarily true that governments can borrow more cheaply than companies. Look at the interest on marginal borrowing rather than average it over total borrowing.

This is really most unkind to Mrs. Dromey.

If a charity is funded by government and acts like politicians do, is it really fair to still call it a charity?

And finally, unfair if amusing.

The Rotten State of Britain: A fork in the road

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On the back of the much talked about Rotten State of Britain, Dr Eamonn Butler has been inundated with media requests. It would appear the subject matter is striking a resonance with the people of this country.

For example, The Telegraph's Christopher Hope has written on Dr Butler's analysis of bureaucratic and authoritarian state. While in The Times Dr Butler writes on how the believers in free markets are fighting back.

The Rotten State of Britain will hopefully prove to be the first obituary for a type the government that we were able to stop before it was too late. Let us hope it does not turn out to be a record of the end of this country's freedom. We will see...

Either way, it can and should be purchased by clicking here.

Blog Review 893

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As we know, Gordon Brown seems most reluctant to apologise. Fortunately, the IMF seems to have done it for him.

Enough people have been arguing for drug legalisation for enough time. Could we finally start to see sense on this please?

It's actually sad to see some of the arguments rolled out in the interests of maintaining their illegality.

It's clear that recycling is a religious tenet.

Embarrassingly, we still seem not to have learnt some of the lessons of the Great Depression.

It's been said before that the issues don't change, only the way they are talked about.

And finally.

World Statesman of the Year

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Junksmith thought he was seeing things when glancing over someone's newsapaper on the tube he saw that Gordon Brown had been voted World Statesman of the Year. However, it turns out it is true. The Appeal of Conscience Foundation even went so far as to say to him that: "your courage in defending freedom and human rights ... and also your key intellectual and compassionate leadership in these critical times, when financial upheavals raised societal tensions and international tensions". April Fools day has clearly come early for Mr Brown.

Blog Review 892

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Contrary to popular belief, it was the rich voting for Obama disproportionately, not the poor.

Yes it was leverage and no it wasn't. The banks weren't any more leveraged than usual: it's that the mortgages themselves were more leveraged than usual.

One fifth birthday that deserves to be celebrated.

Sad but true, Amnesty International has jumped the shark.

This isn't quite how quantitative easing works. Sadly.

Efficient, low cost health care. That's what the US is looking for, so it's odd that they make it illegal to provide efficient low cost health care.

And finally, cruel, cruel Guido.

Blog Review 891

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Will the recession drive Eastern European birth rates even further down? And what effect will that have on long term demographics?

Cultural values and economic development. Yes, respecting the individual does promote prosperity.

Is environmentalism a religion? It certainly has many of the characteristics.

Why do governments like to control education? For the same reason that religions do, it creates acolytes perhaps?

No, seriously, things really have got better since the 1950s.

Understanding Rand: she was writing having seen the Leminists dismantling the capitalist economy.

And finally, couldn't you see this answer coming?