Wednesday, October 27, 2021

Fuller on No Free Lunch

 My former student and now colleague Caleb Fuller has written a new book, No Free Lunch, that is both readable and insightful. He dismantles economic myths people still believe, which makes his book well suited to our time.

As Fuller relates in an interview discussing the book and why it is important,

Economics is deadly serious business. For many people in the modern world and throughout history, getting the economics right means the difference between life and death. Inspired by Hazlitt and Frederic Bastiat before him, I wanted to communicate the basic principles of economics, and what it tells us about human flourishing, to a new generation.

Monday, October 25, 2021

Supply-Chain Shortage or Merely Central Planning?

 John Tamny says Central planning:

The supply lines of February 2020 were impossibly complicated structures that no politician could ever hope to design. Think billions of individuals around the world pursuing their narrow work specialization on the way to enormous global plenty. Put another way, the shelves in economically free countries were heaving with all manner of products based on economic cooperation that was staggering in scope. Brilliant as some experts claim to be, and brilliant as some politicians think they are as they look in the mirror, they could never construct the web of trillions of economic relationships that prevailed before the lockdowns. But they could destroy the web. And they did; that, or they severely impaired it.

You can read the rest by clicking here.

If you are interested in a thorough theoretical critique of a variety of forms of central planning, I recommend Hans-Hermann Hoppe's A Theory of Socialism and Capitalism.