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Around the Web

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Co-editor Fred Foldvary is participating in a symposium over at Bleeding Heart Libertarians.  Check him out.

Michael Mungowitz bags on Greece and the Euro Zone.

Zach Gochenour has a complimentary follow-up piece on Dr. Foldvary’s essay: Progress or Poverty: The Economics of Land and Discovery.

All Hail Azawad.  A blogger obsessed with maps from the New York Times writes about the new state’s prospects .  I have written about Azawad here, here, here, and here (oh God I hope I don’t sound like Walter Block!).

Jacques Delacroix provides even more insights into the French elections and its implications for the Euro Zone.

The collapse of the Euro Zone is kind of a big deal.  Personally, I hope the collapse only destroys the currency of the zone, and not the ability of its members to trade and work freely anywhere throughout the zone.  I also want a pony and never-ending supply of really good weed.

The European policymakers and technocrats should not have been so brash as to believe that they could unify Europe politically.  Not only is that bad for democracy, but it has also given the underlying principle behind the EU – free trade – a very bad name.  Repeat after me: large polities that are economically united and politically divided are good for everybody, but large polities that are economically and politically united are bad for everybody.

It’s even worse when you throw in concepts like Old World identities such as ethnicity into the mix and try to get everybody to play nice through the democratic process.

Around the Web

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At Last, Some Bright Spots in Indian Country (if you can’t view it, just copy and past the title and Google it).

The enduring failure of democracy promotion abroad.

Borderlines. A blog about maps.

Chicago, Vienna and San Francisco

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Co-editor Fred Foldvary has a great essay up on three schools of economic thought that deserves to be read by all.  An excerpt:

The Vienna school emphasizes the dynamics of the economy, while the Chicago method is to apply self-interest and economizing in an equilibrium analysis.  The San Francisco school uses both equilibrium and dynamics.  The dynamic approach of change over time is used to show the advance of rent and lowering of wages as the margin of production moves to less productive land and as land speculation moves the margin out even further.  Equilibrium shows that since market rent is based on the fixed supply of land and the demand to rent space, the tax on land not affecting the rent.

The San Francisco school agrees with the Vienna school that the spontaneous order of the free market best allocates goods to human desires.  But the San Francisco school points out that if the ground rent is not tapped for public revenue, when taxes on other things finance civic works, then there is in effect a subsidy to land owners, which distorts the market.

The San Francisco school has a theory of the business cycle based on land values, which rise during a boom, when speculation carries land prices so high that investment gets choked off, resulting in a recession.  But San Francisco has lacked a consensus on the role of central banking and money.

Check out the rest here.

I tend to pay attention whenever Dr. Foldvary writes, because he is the guy who wrote a book in 2007 accurately predicting the economic collapse of 2008.  You can access the book for free here.

A Few Good Debates

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I have often thought that debating other people is just as good (if not better) for learning about other how other people think (and imagine things) as reading a book on a subject.  In this spirit, I thought it’d be cool to point out some of the great debates I’ve had a pleasure of being a part of either though participation or simply as an observer.

Cato Unbound is by far the best place to go if you want to get a good, scholarly, but still colloquial, debate on a topic.  This month’s lead essay is on ‘Bleeding Heart Libertarianism’ and features responses from a number of prominent academics.  I highly recommend taking some time to read through the whole symposium.

Over at the blog Coordination Problem, economist Steve Horwitz takes a grad student (Daniel Kuehn) out for a beating in the proverbial woodshed in the ‘comments’ section.

Again in the ‘comments’ section, I take Jacques Delacroix to school on matters of foreign policy and the law.

And at MarginalRevolution, co-bloggers Tyler Cowen and Alex Tabarrok go at it on banking institutions.  Here is Part 1 (by TC), Part 2 (AT), Part 3 (TC), and Part 4 (AT).

All of these are tough reads with lots of top scholars debating big ideas (save for me, though Jacques is a world-renowned scholar on international trade and development), so you might want to come back to this post and click around a little bit at a time.  All of the debates are highly, highly recommended.

Oh, and the Mises Institute has their new blog up and running (it’s very good): The Circle Bastiat

Native American Sovereignty

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I have been a proponent of abolishing, outright, the Bureau of Indian Affairs for a long time. In its place, I would either grant the Indian tribes full-fledged sovereignty with reparations for stolen property, or would grant the reservations statehood into the union of the United States federal republic.

If you’ll notice, this proposal goes hand-in-hand with my other writings on decentralizing political power in other various parts of the world, and I think that the issue of sovereignty for Native Americans goes along nicely with this theme.  Tyler Cowen recently directed me to a piece in the Economist that writes about just this topic, so I am not nearly as idealistic and young as some of you might think.

I think this decentralized process is happening for a reason, and that the reason is overwhelmingly good: the world’s markets are becoming increasingly integrated, and as a result, political power is becoming increasingly irrelevant except on a largely local or regional scale.

If we want to avoid the mistakes of the past, including slavery and horrific, large-scale wars, then we would do well to realize and affirm that decentralized governance and integrated markets are extremely beneficial to mankind. In affirming this, we would likewise do well to recognize that when people want more autonomy in governance we should grant it to them, especially in cases where post-colonial states exist. States themselves are largely illegitimate, and the post-colonial ones are the most guilty of this crime. There is no reason to pretend that we have to respect the sovereignty of post-colonial states ruled by dictators, and every reason to respect the wishes of large swathes of the people in these post-colonial states for more political autonomy. Continue reading →

Mali: Let It Collapse, Duh! Part 2

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I just came across an article in the New York Times via Bill Easterly, and it is very discouraging. The article is, of course, about the aspirations of Azawad, the breakaway region of Mali that just declared its independence. The article outlines the slim-to-none chances Azawad has of breaking free from the shackles of colonial legacy and African despotism:

“[…] there is little likelihood that anyone will defeat the Tuaregs on the battlefield anytime soon.

Still, they face slim odds of establishing a nation. Just ask Ahmed Abdi Habsade, a government minister in Africa’s other unrecognized state, Somaliland. ‘We have many problems,’ Mr. Habsade said in a telephone interview from Somaliland’s capital, Hargeysa. ‘The country cannot get donations from the U.N. or other governments. We are not having a budget to develop our country.’

Somaliland, which sits in the northwestern corner of Somalia, has been a de-facto independent nation for the better part of two decades, and an oasis of calm in the chaos that has swept up Somalia. Its claims to independence date from the colonial era, when it was a British protectorate while Somalia was controlled by Italy. The two states merged after independence, but the Somalilanders had almost immediate regrets, and have been trying to break free ever since.

Somaliland has had successes, including holding peaceful elections, yet it has struggled without an international stamp of Continue reading →

Links From Around the Web

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Co-editor Fred Foldvary on the destruction of the Libertarian Party.

Newest member of the consortium, Warren Gibson, writes in the Freeman about GDP.

Ninos Malek on associating in peace.

Jacques Delacroix questions Ron Paul’s credibility.

And writing over in the Atlantic, Conor Friedersdorf celebrates the failed boycott attempts of Rush Limbaugh’s show.

I just started school today, so if you don’t hear from me for a while, you now know why.  Have a great spring!

Two More Days!

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Two more days to sign up for the Independent Institute’s summer seminar scholarship offer.

I first became interested in libertarianism during the 2008 presidential campaign, when Ron Paul gained national prominence for his tangle with Rudy Giuliani on foreign policy.  In the summer of 2009, just after the presidential primaries wrapped up, I embarked on a nationwide journey to learn more about the concept of liberty.

My first stop was the Independent Institute’s summer seminar, an from that experience I not only learned a lot about how markets work (I just spent the afternoon going over my notes from the seminar), but I was also able to make some great connections as well.  Indeed, the co-editor of this blog, Fred Foldvary, was a lecturer at the seminar, and Brian Gothberg, who is incredibly good at teaching basic economic subjects, are just some of the fantastic people that I have been able to count over the past three years for intellectual support.

If you want to spend a week in one of the San Francisco Bay Area’s most beautiful locales, learning about liberty, history, civil society, and the market process, then I highly suggest checking out their seminar.  It is absolutely fantastic.

Some Great Links From Around the Web

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A fascinating blog post on Indian domestic politics and foreign policy by a Ph.D. student living in New Delhi and studying at Jawaharlal Nehru University.

Alex Warren, a journalist with extensive experience in the Middle East, writes about Libya’s decentralization.

“The Current Models Have Nothing to Say.” That is economist Robert Higgs’s analysis of modern, orthodox economics.

Might regionalism help solve Central America’s woes?  Be sure to check out the rest of the blog, by Seth Kaplan, too.

Conor Friedersdorf of the Atlantic has a penetrating look at the logic of a drug warrior (h/t Brian Aitken)

Co-editor Fred Foldvary, writing in the Progress Report, explains that value is subjective.  This is an important concept when it comes to understanding economics.

A Few Fun Links

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  1. Europeans: anti-Semitic violence is okay as long as it’s done in the name of Palestine
  2. Five reasons to withdraw from Afghanistan by Malou Innocent in the National Interest
  3. Speaking of Afghanistan, Justin Raimondo wonders if the murderer acted alone
  4. In USAToday (!!) there is a great piece on libertarianism and science. Be warned all ye religious libertarians! (ht Wilson Mixon)

Okay! Okay! Perhaps they’re not that fun, but enlightening I hope.

Some Chinese Links

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I apologize again for my lack of blogging activity lately.  I will be done with Finals on Thursday!

I regularly read Shanghaiist, a webzine of culture in Shanghai specifically and China generally, and I just came across this great bit of reporting on the ouster of one of the Communist Party’s most outspoken reformers, Bo Xilai.

In the piece, a list of outrages and speculation of Mr. Bo’s ouster are reprinted from Weibo, the Chinese version of Twitter.  Here are a few of them: Continue reading →

Gas Prices Are Too Damn High

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Co-editor Fred Foldvary explains why gas prices are so high at the moment.

David Henderson keeps his eye on the ball when it comes to higher gas prices.

Co-blogger Jacques Delacroix has his suspicions as well.

Somalia and Anarchy: Links Edition

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  1. I am too lazy to write much more on Somalia right now (you can always check out my latest piece again if you are really itching for something satisfying), so I have compiled a list of great pieces I have read over the past couple days on Somalia, Anarchy, and the idea that post-colonial states ought to fail more often than not.
  2. Jeffrey Herbst and Greg Mills argue over in Foreign Policy that the Congolese state needs to fail if the region is to ever know peace again.
  3. Over in the New York Times, Alex de Waal argues along the same lines that I have: that Somalia as it stands is a bad idea, and that much more decentralization is needed for it to effectively flourish.
  4. The Mises Institute has two wonderful articles (one by an anthropologist and one by a lawyer) on why anarchy has been great for Somalia, despite the government interventions imposed upon the Somalis by the West over the past two decades (and, really, much longer than that, but I digress).
  5. Political Economist Chris Blattman raises the flag of caution, though.  How do we really know that more states will be better for the people living in these regions?
  6. Co-editor Fred Foldvary defends anarchism’s good name after the (government-initiated) looting in Iraq.
  7. And last but not least, Cato Unbound, one of my favorite places to visit, had an excellent symposium on anarchism awhile back (like, 5 years ago).  Here is Pete Leeson’s lead essay, in which Somalia is specifically used to illustrate his points.  Be sure to read the responses of the other members in the exchange, too.

Have a great weekend, and have fun with all the reading!  One of the things that really bothers me is the example of Somalia that is thrown out in favor of government over liberty.  I really hate having to take the time to explain to people that the problems in Somalia are created by the government!  It’s like screaming at a brick wall…

Assorted Links on Mormon Baptisms for the Dead

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Eugene Volokh, a law professor at UCLA, says “so what?”

Ari Cohen, a Political Scientist professor at the Univ. of Nebraska, says “how offensive!”

Over at the American Conservative, Rod Dreher says “so what?”

I’ve already gone over this myself, and I am sure that many, many other people have as well, but I just don’t see what is so offensive about baptizing dead people via proxy.  Yes, it is a bit condescending, but we are talking about religion here, right?

This seems to me to be a clear case of Leftist intolerance to other religions.  How many Leftists do you see decrying the Obama administration for forcing religious institutions to provide contraceptive care against their wishes?

The Left can often be good at protecting the freedom of religion, but Mormon proxy baptisms and forced payments for contraceptive care are examples where the Left errs.  And badly, too.

Bizarre Love Triangle: Towards a New Internationalism

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Isolationist screeds in the United States are extremely rare these days, which, in my opinion, makes those who promote this noble doctrine to be individuals of exceptional character.  I am a regular reader of the blog Eunomia (authored by Dr. Daniel Larison), which explicates isolationist critiques of current foreign policy (among other things), and I always enjoy what Dr. Larison has to say.

I also happen to find it rather odd that I am often slandered by my sparring partners on both the Left and the Right as being an isolationist, for one reason or another.  I wouldn’t particularly mind being called such, except for the fact that, for reasons I hope to clarify shortly, my positions are hardly in line with those of the paleoconservative isolationists that I have grown to admire (if not disagree with more often than not).

The libertarian philosophy is one of individualism, internationalism, free trade, and the rule of law.  My sparring partners often accuse of me of being an isolationist because of my opposition to wars and “nation-building” abroad, yet this opposition does not stem from a prejudice of robust international diplomacy.  Rather, the war-weariness of libertarianism stems from the fact that war brings misery for the individual, it shatters international consensuses, it disrupts free trade, and it enables governments to ride roughshod over the rule of law in the name of security and of a centrally-planned war effort. Continue reading →