Tuesday, October 21, 2008

The End of Libertarianism? Don't blame free markets for the current panic! and more...

The End of Libertarianism and Other Adventures in Financial Policy Fantasy-- Don't blame free markets for the current panic
In a recent op-ed, Slate Editor in Chief Jacob Weisberg blamed the financial crisis on free market ideas. But as Harvard economist Jeffrey Miron writes, the incontrovertible fact is that the U.S. has not pursued policies that even remotely resemble libertarianism.

"Heat" on PBS Tonight-- A review of the new Frontline documentary on big business and climate change
Will it take a push from the government to get big business to take action on climate change? That's the argument made during tonight's episode of the PBS show Frontline. But as Science Correspondent Ronald Bailey writes in his preview of the show, previous government pushes haven't exactly been huge successes.

The Rise of Disaster Socialism-- I've seen the past...and it works
As America heads toward a recession, the "disaster socialists," writes Michael Moynihan, are once again presaging the death of capitalism. And once again, they're wrong.

Midnight Bias-- Can the nation survive without fair and balanced Sarah Palin jokes?
Sarah Palin didn't actually do much during her celebrated appearance on Saturday Night Live this weekend. But as Greg Beato writes, it was a shocking tableau nonetheless. After mocking Palin relentlessly for the last month, SNL actually made her complicit in their crimes against democracy.

From Hit and Run, Reason's staff blog:
Strangely, Developing World Still Not Drained of Brains
In 1987 Fijians of Indian descent began to emigrate in large numbers. Spurred by a political coup they felt damaged relative prospects at home, they left for places like Canada, Australia, and New Zealand, all of which privilege skilled, educated immigrants. As smart Indian Fijians left for Sydney, observers lamented the "ominous," "crippling," even "horrific" loss of human capital. One population researcher charmingly compared the migration to a massive increase in the death rate.Economist Michael Clemens decided to find out what, exactly, was going on. By using the (static) ethnic Fijian population as a control group, he and Satish Chand decided to test the effect of labor movement on human capital stocks.Read the rest here.

Daily Brickbat
Waiting for Uncle Sugar
An auction for 56 foreclosed properties in Utah fell through when the owners rejected the bids. Auctioneer Eric Nelson says the banks and private lenders who owned the properties decided to wait and see if they might get a better offer from the federal government.

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