Category Archives: Economics

The virtues of 18th-century mercantilism

Nice piece on comparative advantage and the benefits of being the world’s reserve currency. Kevin D. Williamson writes that Americans have a strange love-hate relationship with our consumer goods: We love our stuff, and we hate the people who sell it … Continue reading

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on the trade deficit

Kevin D. Williamson on the trade deficit (with China): American manufacturing wasn’t hollowed out by unfair competition from wily Orientals — it wasn’t hollowed out at all, in fact, U.S. manufacturing output today being far higher than it was during … Continue reading

Posted in Economics, Foreign Affairs | 1 Comment

The evolution of everything

George Will, writing of Matt Ridley’s book, takes issue with creationists –  but not the “mistaken but inconsequential” religious creationists.  “It is secular creationists whose social costs are steep.” “Secular theists” — economist Don Boudreaux’s term — produce governments gripped … Continue reading

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The short-termism myth

From The New Yorker (!): pressure to focus on the short term doesn’t come from “Wall Street” or investors, but from poorly designed CEO compensation packages. Excerpt from The Short-Termism Myth [There are] two common but ultimately questionable assumptions. The first is … Continue reading

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Paradise of the real

More good stuff from Kevin D. Williamson in Welcome to the Paradise of the Real: We treat the physical results of capitalism as though they were an inevitability. In 1955, no captain of industry, prince, or potentate could buy a car … Continue reading

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For whatever passes for rational among politicians

Everybody says they want Sweden; presumably, the people in Venezuela would prefer Sweden, too. Consider the VA system, the IRS, your local DMV, and ask yourself whether American institutions are more likely to produce Swedish outcomes or Venezuelan outcomes under … Continue reading

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CA already rations iPhones and cabernets, so why not water?

In The Dry Math of Scarcity, Kevin D. Williamson comments on CA’s man-made drought and makes a few broader points: I am glad California is having a drought. Not because I hate California (I love California) or Californians (I hate … Continue reading

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