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Blog Review 920

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Something to chew upon. With the largest banks, nationalisation simply isn´t possible.

Looking at the relative sizes and thus economic importance of the G 20 countries.

We all knew this government "help" was going to end in tears. And here´s a possible mechanism. What is necessary above all else is certainty: certainty of the law. And that´s just what banks aren´t getting right now.

But then it´s not a surprise that politicians are witless now, is it?

Amazingly, biting sarcasm does not overturn the rules of economics.

More fake charities attempting to alter the course of public discourse.

And finally, embarrassing, ain´t it?

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Blog Review 919

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Oh my, what confusion! Even Nobel Prize winners are finding it difficult to keep their thoughts straight in these times.

Find out which MP took the most of your money last year.

Still, a silver lining....that money they took this year wasn´t worth as much as the money of yesteryear before those MPs got elected to run things for us.

A most important point about economics. It´s essential to differentiate between theory and the underlying reality that theory is attempting to describe.

Sometimes theory is pretty good at that of course: barriers to entry do raise the prices consumers pay.

Good news: "Economic globalization has been going on for far too long for even the crash of 2008 to derail."

And finally, just when should an MP declare an interest?

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Miscellaneous Dr. Madsen Pirie Miscellaneous Dr. Madsen Pirie

The privatization of space

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I was in Russia and Kazakhstan last week to witness close up the launch of Soyuz TMA-14 taking three cosmonauts to the International Space Station.  Interestingly, one of them is a private citizen paying his own way.  It is Charles Simonyi's second such trip, but as a billionaire from his Microsoft days, he can afford the $30m price tag.

The trips are organized by Space Adventures (with whom I long ago booked a sub-orbital flight).  Their private space voyagers are no longer called 'tourists,' but 'mission participants,' since they undergo the same training as other cosmonauts, and perform a series of experiments while in orbit.

Burt Rutan won the X-Prize for sending the first private manned rocket flight into space, funded by Paul Allen, also ex-Microsoft, rather than by any government.  Paul Allen was also there to see Soyuz 14 blast off.  There are several private space vehicles under development, the most publicized one being the Virgin Galactic successor to Rutan's SpaceShipOne, and including SpaceX's Falcon series and Bigelow Aerospace's expandable module.

There is now widespread recognition and acceptance that the next big wave of space activity will be private.  Space tourism is reckoned to have huge growth potential, as do customized launches tailored for private customers.  It will bring non-taxpayer money into space exploration and development, as well as unleashing new creative thinking.  The era is drawing to a close when only government-backed projects and those selected by governments could undertake space voyages.  Replacing it will be the era when space is for everyone.  Of course it will be high-priced at first, but it will rapidly make its way down into accessible price ranges as new technologies and techniques are developed.

The students of Cambridge University Spaceflight are on course to put a rocket into space this September on a student budget.  They have spent over a year perfecting their balloon techniques to take payloads to the edge of space (30km), and have been developing a rocket to be launched from it to cover the additional 70km to reach 100km, the international definition of where outer space begins.  Once again, their effort is entirely private.  They are raising the sponsorship to fund their project.

Space exploration seemed to go into a lull after the excitement of the moon landings and the end of the space race.  Now, it is starting to move again, and it is private projects that are generating the excitement.

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Blog Review 918

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Oh my, American politicians really do seem to have problems paying the taxes they impose on others, don´t they?

No, really, a subsidy to replace clunkers with new cars really isn´t sensible.

Nor is this method of splurging taxpayers´ money a clever one.

If we refuse their products we´re just going to get the people themselves flooding in. Trade sounds better, doesn´t it?

Interesting: indie musician shows that he understands the scalping problem perfectly.

Which is more economics than the World Wildlife Fund seems to grasp.

And finally, a new word game to play.

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Miscellaneous Dr. Eamonn Butler Miscellaneous Dr. Eamonn Butler

How to defend freedom

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Despite the current downturn, the world's income must be about $60,000,000m. If you added up the budgets of all the free-market policy think-tanks in the world, I don't think you'd make it close to $600m, absolute tops. So I figure the world spends 0.00001% of its income defending the source of that income. Thanks, guys, but you could do better. Why not give online or mail a cheque to the Adam Smith Institute today?

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Blog Review 917

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An excellent blog from Cuba, well worth having a read around it. for example, what it´s like to be independent when the whole of society is regimented.

This is what unions do, create monopolies for their own members, but is this actually something we want anyone to be doing?

Taking apart the President´s plans for the auto industry.

How to create the Common Agricultural Policy.

The scary holes in the local authority pension schemes.

If you think we´re all being spied on a little too much already, just you wait.

And finally, a political alphabet.

 

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Bloggers Bash 2009

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Tomorrow we are hosting our now esablished annual Bloggers Bash. This will certainly be a great one, with John Redwood MP, Alex Barker of the FT and Guido Fawkes speaking on Politics and the Blog (not to mention the two small kegs of award winning ale).

Details of the event can be found here.

If you are intersted in attending, simply email events@old.adamsmith.org so we can put you on the guest list.

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Miscellaneous admin Miscellaneous admin

Win a copy of The Rotten State of Britain

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You still have time to win a copy of The Rotten State of Britain over at the Liberal England blog. All you need to do is answer the following questions:

1. In which town was Adam Smith born?

2. Which Scottish Football League team plays its home games there?

3. Who was arrested outside the entrance to Downing Street on 18 June 2006 for carrying a placard saying: "In a time of universal deceit, telling the truth is a revolutionary act"?

4. What is the name of the proposed government database that will hold details of every child in England?

5. Who was appointed to head the Better Hospital Food project in 2000? (Correct spelling please.)

Click here to find out more.

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Miscellaneous admin Miscellaneous admin

Blog Review 916

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One to watch: is there really one rule for them and another for the rest of us? Just what will the Vice President's daughter get for taking cocaine?

A ringing declaration of what it is to be a liberal. The sadness is that all too many of those proclaiming themselves liberals are no such thing.

Now the free movement of capital is being blamed. But please do compare the effects of it (if true) to not having the free movement of capital.

This late in the day it's simply appalling how many don't understand the simplest things about capital markets.

The true meaning of that Dan Hannan video.

Hurrah! A decent idea for government.

And finally, a decent piece of conceptual art (is that even possible?).

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