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The Boundaries of Fiscal and Monetary Policy

The main purpose that the framers had in their minds was to establish a limited representative government in the newly joined former colonies. The various elements of the Constitution must be viewed as instruments that perform all of the purposes they were designed to serve. Popular sovereignty, as well as rules of law federalism, representation of the political checks and balances, and the separation of power between the executive, legislative, and judiciary branches, were thought of by the authors of the Constitution as the perfect structure to serve as a guarantor for the self-evident truths proclaimed a couple of years...
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A Child Comes With His Bread

The principal inspiration behind what I am referring to as the "title" of this essay and the basis for my argument comes from the Romanian proverb "copilul vine cu painea lui." My goal is not to refute Oreskes's claims per se. It is rather to deny the claim that she identifies Julian Simon as representative of an unpopular misunderstanding of Simon's argument and to make clear what is not clear in Oreskes's assertion. While this title and the proverb that it is linked to are not just unusual but also consistent with the idea of Oreske, it is, in fact, prompted...
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Mises, as well as Buchanan’s On Classical Liberalism versus Socialism

The writings of Ludwig von Mises and James M. Buchanan are a reflection of the most outstanding of the classic liberal intellectual tradition. Since the year 100 years ago marked Mises' Socialism 1's publication Mises' Socialism, and because 2023 marked the 10th anniversary of the death of Buchanan, the author, it is the perfect time to reflect on their contribution to the field. Both advocate ethical and methodological individualism and private property rights. They also support the concept of a minimal government, a market economy, as well as a liberal democracy. They both agree that economic and political systems and decisions should be evaluated by...
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The Kids Are… Different

The Norway comparison is, to me, untrue. It's like Twenge does not believe the reader to understand the figure of 5.8 million. It is, at best, condescending. It is, at worst, an attempt to expand the size of the brain that the person is reading. The author's "perspective" almost always nudges in this direction. I'm also curious whether the generational framing strategy works in the way she suggests. Twenge writes: The time in which you were born will have a significant influence on your behavior, attitude, and values, as well as the traits of your personality. In reality, the year...
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Thomas Sowell, Political Conflict, and Madmen in Authority

The impact of well-articulated ideas could be insignificant in their influence on a particular election or legislative vote, or an act of a leader of the state. But the context in that this decision-making takes place could have a specific view or a particular conflict of ideas when intellectuals have played an important role in history, not just by speaking words of wisdom into the ears of political leaders as being a part of the massive and powerful currents of concepts and misperceptions that propel humans' actions. The impact of visions does not depend on them being articulated or on...
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Climate Activism, in contrast to Classical Liberalism

In the fall of 1997, the political economics William A. Niskanen, at the time director of the Cato Institute, published an essay that argued against regulating (CO 2) and other greenhouse gases through an international treaty (or different ways). 2 The Kyoto Protocol was just ahead that was a battle between the neo-Malthusian intellectuals and rent-seeking companies (such as Enron or BP) against the modern-day, consumer-driven, high-energy living. "In December," Niskanen's essay 3 began, "policymakers will meet in Kyoto to discuss an international treaty to control greenhouse gases." In the absence of knowledge regarding the costs as well as the benefits and alternatives, taking...
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Adam Smith Experimental Innovator

The terms innovative conceptualist and experimental innovators do not have to be limited to the world of art. Further research has shown that a similar pattern is also evident across other disciplines, including the literature field (Galenson 2005 and Elias (2013)) and music (Galenson 2009) as well as the high-quality wine industry (Elias and Co 2020) and food and drink (Elias and colleagues 2022). Bruce Weinberg and David Galenson (2019) demonstrate that economists are also classified into two kinds of innovators. Conceptual economists find specific issues and resolve them through deductive reasoning. They typically make the most important discoveries during...
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The Revanchist Right

He views mainstream conservatism as making several concessions in the direction of the Left. He opposes a political system based on take-and-give, saying that this entails more give but too little take. The New Right has abandoned the comfortable belief that even with a few bumps, the overall picture is normal and steady in America and that we are able to go in the direction of our current trajectory through a collaborative exchange alongside the Left. Our current crisis calls for a more aggressive and sometimes more abrasive approach. .... A leftist revolution within America has already begun. As counterrevolutionaries,...
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Don Lavoie on the Continuing Relevance of the Knowledge Problem

The author is Don Lavoie, not Friedrich Hayek who invented the phrase "knowledge problem" in his classic 1985 book National Economic Planning: What Is Left?1 (itself a more accessible and more focused distillation of Lavoie's thesis with the help of Israel Kirzner, entitled Rivalry and Central Planning: The Socialist Calculation Debate Reconsidered). Lavoie Reformulated and clarified the problem of knowledge that was formulated through Ludwig von Mises and Friedrich Hayek, took to challenge the numerous suggestions of the time that called for greater state control and proposed a radical liberal alternative. You may think we've mastered all we can be aware of...
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Recycling And Reuse Ways To Win The War On Waste

It is undisputed the fact that we face a problem across the world in the world of wasteful food and drink. The numbers reveal the extent of the amount of food and money that is wasted every year. Based on The World Counts website, approximately one-third of the total, or around 1.3 billion tonnes of the food consumed in the world is wasted. More than that end in the garbage. It is believed that the F&B industry, as well as many others, produces a large amount of waste from packaging. According to the World Bank projects glob, global municipal waste...