Nobody likes being told there is no such thing as a free lunch. But it is incredibly important. Unless someone reminds the public that free lunches are illusory, they may never figure out how to get a meal in the first place.
Alex Salter, Economist-Man and His Never-Ending Battle
An outstanding explanation of “rent seeking,” and how it destroys wealth and opportunity.
Why Did America Fight the Vietnam War?
Rapists, thugs, and thieves improve their lives by using coercion or threats of coercion to reduce the range of options available to others. Civilized, peaceful, and productive people improve their lives by using commerce to expand the range of options available to others. Neither the raw facts of the matter nor the ethics of these alternative courses of action are altered one bit if the rapists, thugs, and thieves hire well-dressed agents to carry out their schemes and rename these plunderous schemes “trade policy.”
– Don Boudreaux
I’ve been thinking this lately. I’m surprised to learn many things like this.
Considering what is indeed the historically unprecedented great enrichment that market economies have created for the masses, to complain about today’s differences in monetary incomes or wealth is akin to complaining about the color of a rescue ship that has just saved the lives of hundreds of people who were on the verge of drowning at sea.
– Don Boudreaux
Bogged at Cafe Hayek
What happens when intelligence agencies go to war with each other and don’t tell the rest of us? I think there’s something going on between the US and Russia that the public is just seeing pieces of. We have no idea why, or where it will go next, and can only speculate.
Who is Publishing NSA and CIA Secrets, and Why? https://www.schneier.com/blog/archives/2017/05/who_is_publishi.html
It is truly miraculous that the following proposition continues to be held as proven: Anything that an individual steals from the whole is a general profit. Perpetual motion, the philosopher’s stone, or the squaring of the circle have fallen into oblivion, but the theory of Advancement through theft is still in fashion.
Frédéric Bastiat, Economic Sophisms and “What Is Seen and What Is Not Seen”
Because children have abounding vitality, because they are in spirit fierce and free, therefore they want things repeated and unchanged. They always say, “Do it again”; and the grown-up person does it again until he is nearly dead. For grown-up people are not strong enough to exult in monotony. But perhaps God is strong enough to exult in monotony. It is possible that God says every morning, “Do it again” to the sun; and every evening, “Do it again” to the moon. It may not be automatic necessity that makes all daisies alike; it may be that God makes every daisy separately, but has never got tired of making them. It may be that He has the eternal appetite of infancy; for we have sinned and grown old, and our Father is younger than we.
Earth Hour is largely celebrated in rich, urban areas. Around the world, there are around 1.3 billion people living in the developing world who will not get a choice whether to participate or not. That’s because they will be living without reliable electricity on Saturday night, just like they do every other night.