Late addition. Could be filed under Art. Humour provided by Barry Williams.
Local. The PM talks to one of the old press gallery hacks.
Supply and Demand. Bernanke in the marketplace.
“Bernanke Enjoys the ‘Fruits of the Free Market,’” or so we’re told in a Reuters headline from March 4 about the former Fed chairman’s 40-minute speech in Abu Dhabi for which he received, ahem, $250,000. In the Reuters author’s defense, he was only quoting a DC lobbyist who was defending the amount, and added, Bernanke “will personally experience supply and demand.”
Well, yes, it’s just supply and demand and all that. No big deal and if you don’t like it, you must have something against markets. Still, it would be nice (and a bigger deal) if these reporters would quote someone outside of the accepted intellectual class of the Boswash corridor so compromised by being among the primary beneficiaries of all the new money Chairman Ben and his comrades created, ex nihilo, when he wasn’t shooting baskets in the Marriner Eccles building. If they did, they might hear some healthy skepticism about these events in which top officials cash in on their “public service” via contacts with the very industries they benefited while in office.
George Stigler explained such paybacks in his capture theory of regulation for which he received (rightly) the Nobel Prize in Economics, although I’d say they are better explained by the phrase, “quid pro and here-you-go!”
George Soros on the EU. An interview in The New York Review of Books.
“I still believe in the European Union and the principles of the open society that originally inspired it, and I should like to recapture that spirit. I want to arrest the process of disintegration, not accelerate it.”
How does he square the reality of the regulatory nightmare of the EU and the domination of the Brussels bureaucrats with the principles of the open society?
Around the town: IPA HEY. The Sydney Institute. Australian Taxpayers Alliance, Liberty on the Rocks, the notice board for the ATA: Quadrant on line, Mannkal Foundation, Centre for Independent Studies.
Gerard Henderson’s Media Watch Dog [refreshed on Friday afternoon]
New on the block. Regular contributor Jim Rose has gone feral and utopian!
How we live. First they came for the toasters.