Category Archives: Economics

Central Banking in Middle-Earth, or: The Much-Maligned King Thror

This is not a post about the inflation of Hollywood movie length, although The Hobbit (part 1 of 3, mind you) surely fits that trend (and some unfortunate others). If you want that, there are some reviews I can point … Continue reading

Posted in Books, Economics | Tagged , , , , , , | 6 Comments

Don’t Bail Out the Banks, Bail Out the Economy

It’s recently been argued that central banks working as a lender of last resort makes no sense under a fiat money system. Being insolvent and being illiquid is virtually the same thing when the central bank can just print money. … Continue reading

Posted in Economics, History | Leave a comment

Something is Rotten in the Corporation of Apple

Imagine you and a bunch of friends got together and started a gold mine. You had a plot of land with a lot of gold in it, and everyone in the group chipped in some money to hire people to … Continue reading

Posted in Economics | Leave a comment

The Possible Problem with Voluntary Exchange

Libertarians like myself [ed. — no longer accurate] like to defend contracts and other exchanges¬†because they’re voluntary. When two capable adults reach an agreement to exchange their legally owned objects, labor or money, then presumably they both believe they’ll be … Continue reading

Posted in Economics, Philosophy | Leave a comment

Cash for Kidneys

The United States is in a medical crisis. This is not an issue of escalating healthcare costs or an overseas epidemic, but rather a homegrown problem: a massive shortage of kidneys. The lack of available kidneys leads to around 4,000 … Continue reading

Posted in Economics, Medical | 1 Comment

What does “harm” mean? Or, the importance of baselines

Bryan Caplan asked an important question to economics bloggers via the Kauffman survey: “Taking into account its entire history, do you think the Federal Reserve has done more harm than good?” The returns were surprisingly¬†ambivalent: 56% of respondents answered that … Continue reading

Posted in Economics, Politics | Leave a comment

America Without the Dollar

A couple months ago, when discussing why a currency union worked so much better for American states than European countries, I questioned Paul Krugman’s assumption that our current dollar monopoly on currency was necessarily the best thing. Subsequently I did … Continue reading

Posted in Economics, History | 1 Comment