The Blind Invisible Hand

Kevin recently wrote a post that really tickled my brain. It touches on the computational aspect of entrepreneurship. There are a couple points I’d like to follow up on. First I’d argue that the uncertain entrepreneur is not the analog of the blind watchmaker. This is a minor quibble, but I think it’s good to … Continue reading The Blind Invisible Hand

The Incomplete Counterfactual Fallacy

Mariana Mazzucato has some interesting ideas, but her basic thesis (which I’m guessing based only on her recent Freakonomics interview) forgets a simple fact: had the government not made GPS, not only would we not have GPS, resources would have been allocated somewhere else. In other words, she’s right that without government involvement we’d miss all sorts … Continue reading The Incomplete Counterfactual Fallacy

A Millennial’s New Perspective on Home Ownership

The last few years I’ve loudly protested that home ownership is overrated; it’s a bad investment plus lots of responsibility. And yet, this summer my fiance and I bought a 100 year old house on the south shore of Long Island. Yes, I have lost my mind. I basically stand by my earlier position, but … Continue reading A Millennial’s New Perspective on Home Ownership

An argument against Net Neutrality

First off, Comcast sucks. Seriously, screw those guys. But let’s assume a can opener and see if that doesn’t help us find a deeper root problem. The can opener is competition in the ISP network. Let’s consider how the issue of Net Neutrality (NN) would play out in a world where your choice of ISP … Continue reading An argument against Net Neutrality

Two points that bear repeating

We could have elected Hitler and it wouldn’t have turned out significantly worse than if Clinton had won. The left and right aren’t speaking the same language, and whoever fails to take the first step (which is to not blame the other side) shares the larger share of the blame. I just listened to the post election … Continue reading Two points that bear repeating

Lifehacks: How to use Facebook better

Despite disagreeing with many (most?) of my friends on political issues I don’t think I’ve lost any Facebook friends this election. Let me share my secrets. Step 1: Empathize. Life is hard, and few of us are trained for political life. Step 2: Listen. We all have the same goal… getting other people to agree with … Continue reading Lifehacks: How to use Facebook better

Rick comments on the latest news

While googling a phrase to see if I’m creative (I don’t know if “Hayekian leisure class” is uniquely mine, but the first page of Google’s 78,000 results indicates yes), I found this interesting tidbit: Thorstein Veblen’s house sold (way back in 2004) for $1 million. The developer is going to (already has? Already started to … Continue reading Rick comments on the latest news

Polystate: Book 2

This is my third entry on Polystate and will cover book 2 (entries one and two covered book 1). This section covers a thought experiment in polystates and begins immediately with the flattering implication that macroeconomists can make speculative predictions about complex systems. This is typically where an Austrian would say “the world is too complex to … Continue reading Polystate: Book 2

Rick Weighs on Intellectual Property: More Questions Than Answers

Adam recently posted that the British government is contemplating pretty outrageous penalties for Internet pirates. Naturally I wanted to chime in with an outrageously long comment about the nature of property and the (im)possibility of intellectual property (IP) rights. That’s just the libertarian thing to do! There’s a lot to say and it will take … Continue reading Rick Weighs on Intellectual Property: More Questions Than Answers