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Don’t Be Surprised by Authoritarianism
Don’t Be Surprised by Authoritarianism Kids are conditioned from birth to submit to authority. Most kids are conditioned almost from day one to obey arbitrary authority. No one attempts to explain or justify the source of the parent or teacher’s authority; no consent is sought, and no choice is offered. Schools demand complete conformity to […]
How to Cope with Inevitable Chaos
How to Cope with Inevitable Chaos And that’s okay. You don’t need to. And neither does governments. Is it me or does it seem like current times are more chaotic than ever? The world seems to be constantly threatened by mass shootings, terrorism, war in the Middle East, nuclear proliferation, and lack of international diplomacy. […]
Cognitive Biases Afflict Government “Nudgers” Too
Cognitive Biases Afflict Government “Nudgers” Too Market-based decisions may not always be entirely rational, but there is almost no incentive for governmental decisions to be rational, either. Economist Richard Thaler recently won the 2017 Nobel Prize in economics for his important work documenting widespread cognitive errors in human decision-making. All too often, people fail to act […]
Even Advanced Technology Cannot Explain Human Action or Predict Markets
Even Advanced Technology Cannot Explain Human Action or Predict Markets The logic of the human mind will prevail over paternalist dictates and the hubris of the social engineers. For more than a century, the world has been caught in the grip of social engineers and political paternalists who are determined to either radically remake society […]
Neoliberalism Was Never about Free Markets
Neoliberalism Was Never about Free Markets From the beginning, it was about watering down classical liberalism. One of the most accusatory and negative words currently in use in various politically “progressive” circles is that of “neoliberalism.” To be called a “neoliberal” is to stand condemned of being against “the poor,” an apologist for the “the […]
If You Give the State an Inch, It Will Take a Mile
If You Give the State an Inch, It Will Take a Mile There’s No Such Thing as Neutral Intervention Humans are imperfect beings. Try as we may, each of us is subject to some degree of inconsistency in our own thought patterns. Even the greatest champions of liberty who have made invaluable contributions to the […]
The European Union Is Doomed to Fail
The European Union Is Doomed to Fail How on earth can the European Union unite that which history forced asunder? Have you ever heard of Deutsch Jahrndorf? No? I don’t blame you. The tiny Austrian village, which is situated four miles from the Danube, is utterly unremarkable, except for the fact that it sits on […]
IMF Head Foresees the End of Banking and the Triumph of Cryptocurrency
IMF Head Foresees the End of Banking and the Triumph of Cryptocurrency In a remarkably frank talk at a Bank of England conference, the Managing Director of the International Monetary Fund has speculated that Bitcoin and cryptocurrency have as much of a future as the Internet itself. It could displace central banks, conventional banking, and challenge […]
Japan’s Demographic Time Bomb Keeps Ticking
Japan’s Demographic Time Bomb Keeps Ticking When I warn about the fiscal and economic consequences of America’s poorly designed entitlement programs (as well as the impact of demographic changes), I regularly suggest that the United States is on a path to become Greece. Because of Greece’s horrible economy, this link has obvious rhetorical appeal. But there’s another nation that may be […]
