Category Archives: Market Economy

Mikayla Novak on civil society

My RMIT colleague Mikayla Novak has the lead article in the latest issue of Cosmos + Taxis. From the abstract: I depict civil society as a complex and adaptive phenomenon. Individuals and groups within civil society interact with each other … Continue reading

Posted in civil society, Cultural Issues, Market Economy | 38 Comments

More silliness on interchange fees

I found this gem in the Productivity Commission’s draft report on Competition in the Australian Financial System. The fees banks charge each other for card payments are passed on to merchants. These are, in turn, paid by consumers either as … Continue reading

Posted in Economics and economy, Market Economy, Oppressive government, Shut it down. Fire them all. | 32 Comments

Beyond Economics 101

This post on Economics 101 reminds me yet again how useless modern economic theory is at working through almost any economic issue at all. It’s about the theory of comparative advantage, I think, and the role of free trade in … Continue reading

Posted in Classical Economics, Economics and economy, Market Economy | 27 Comments

“Stay out of the United States …”

Last week I attended the London BlockChain Week. It is an industry conference (run each year) and was a very interesting combination of people providing thoughtful and provoking presentations interspersed with industry presentations on new product development. A lot of … Continue reading

Posted in Cryptoeconomics, Innovation, Market Economy, Oppressive government, Shut it down. Fire them all. | 29 Comments

C’mon, who’s really clueless about trade?

From Forbes, the kind of thing you find in among Chamber of Commerce types: Trump’s Tariffs Are A Reminder He’s Clueless About Trade. Sure he is, and the evidence keeps piling up day by day. If we lived in a … Continue reading

Posted in Economics and economy, Market Economy | 62 Comments

Entrepreneurship good and not so good

On the plane ride to Canada we watched The Founder which is about Ray Kroc turning the conception behind this minor fast food outlet that opened in Los Angeles in the 1950s into the international McDonald’s phenomenon it became and … Continue reading

Posted in Market Economy | 17 Comments

Communism for Kids versus Economics for Infants

Just like the article says, this is MIT’s new publication ‘COMMUNISM FOR KIDS’. You can pick it up at Amazon where you can find the following blurb: Once upon a time, people yearned to be free of the misery of … Continue reading

Posted in Classical Economics, Cultural Issues, Market Economy | 37 Comments

Trade is good (with very few exceptions)

The more I think about Steve’s post on Trump and trade the more alarmed I get.* First things first – I do know who Wilhelm Röpke was; but no, he was not as important as Hayek. Moving along. I don’t think of … Continue reading

Posted in Economics and economy, Market Economy | 121 Comments

Bob Day – A message from Tim Andrews

Yesterday afternoon we learned the devastating news that Bob Day is facing potential bankruptcy due to circumstances outside of his control. Bob Day has been more than a campaigner for sound public policy. He is someone who has sacrificed himself in dedicating … Continue reading

Posted in Australian Story, Federal Politics, Guest Post, Market Economy | 25 Comments

Cross Post: Nigel Cory – Roving Government “Bandits” Pillaging and Stealing Intellectual Property Need to Be Confronted by “Gunboat” Nations

A number of countries see cutting-edge intellectual property, especially for life sciences and high-tech goods, much like a predatory bandit saw trade caravans in centuries past—as something there to be raided and plundered. As trade and economic activity becomes more … Continue reading

Posted in Economics and economy, Innovation, Market Economy | 8 Comments