I’m enjoying Bartley Madden’s Value Creation Thinking. Madden has much real-world experience in business from his years as a managing director at Credit Suisee HOLT. He’s also read deeply into the ethics and economics literature. We all know the complaints about the business world — corporations enjoy low public trust, “capitalism” is a dirty word […]
Bartley Madden’s *Value Creation Thinking* Read More »
In my “Where are all those free-market economists who caused the financial crisis?”, I cited survey results showing that very few professional economists are deregulation advocates, and I cited data indicating an increase in regulation in the lead-up to the crisis. Here is Regdata’s more recent “Did Deregulation Cause the Financial Crisis? Examining a Common
Before the 2008 financial crisis: increasing or decreasing regulation? Read More »
I am quite the international trader, it turns out. Earlier today I put on my made-in-Argentina jacket and my new made-in-India shoes and got into my made-in-Japan truck. I stopped for gas at a British petroleum station and chatted with its owner, a guy from Mexico. To help pay for it all, I taught my
Free Trade Makes You a Better Person [Good Life series] Read More »
Some items from the 2017 Index of Economic Freedom that stood out to me: * USA falls from 11th to 17th. * United Arab Emirates rises from 25th to 8th. * Chile falls from 7th to 10th. * Argentina rises from 169th to 156th. * Poland falls slightly from 42nd to 45th. * Guatemala rises
The 2017 Index of Economic Freedom is out Read More »
Recently, I met a young man in Miami. Instead of taking a taxi I decided to try Uber for the first time. Rafael (not his real name) showed up a few minutes later. Traffic was bad in rush-hour Miami, and along the way we started chatting. He was a Cuban, I learned, and until recently
Uber, Cuba, and Freedoms Small and Large [Good Life series] Read More »
[When a nation’s debt becomes unmanageable, what is the responsible next step?] The Greek mess is complicated, but in sorting through complex messes it’s useful to start with simpler cases and build up. All sides in the discussion are appealing to moral considerations about responsibility, fairness, and prudence. Part of the debate is over what
On Greek Debts and the Moral Thing to Do [Good Life series] Read More »
… in Zimbabwe dollars. I bought the pictured note on eBay for a buck (USD). Marginal Revolution University has the sorry story:
I’m a multi-millionaire … Read More »
What explains the dramatic differences in economic performance between the two Americas? Take some World Bank GDP numbers — one measure of economic success. We want people to make an adequate living, especially poor people who are struggling. And if we are ambitious, we want people to live the good life — including expensive things
Comparing North and Latin America Economic Performance [Good Life series] Read More »