Random stuff I find interesting and you may not.
The art of economics consists in looking not merely at the immediate but at the longer effects of any act or policy; it consists in tracing the consequences of that policy not merely for one group but for all groups. That is the key takeaway from Henry Hazlitt’s classic book Economics In One Lesson. In … Read more
The expression, “unintended consequences,” is a charitable dodge. It is what old-fashioned, polite, civic-minded people say about the fallout from progressive social policies. It implies that their authors have overlooked something, or made some innocent mistake. For unfortunately, the policies do the exact opposite of what was promised. Surely the “reformers” didn’t mean to force … Read more
Tom here identifies yet another danger posed by state obstruction of peaceful activities. People are not pawns on a chessboard which, when moved from here to there by the visible hand, remain obediently in place until moved again by the visible hand. Instead, each of us has desires that we wish to fulfill and, when … Read more
No matter how smart or well-intentioned central planners are, they can’t possibly understand all the implications of the choices they’re making. When policymakers across the country decided to “lock down” in response to the March outbreak of the novel coronavirus, they took a leap into the unknown. Not only did we know little about COVID-19 … Read more
In the “who could have seen that coming” department…. As cigarette taxes have risen across the country, so too has cigarette smuggling across state lines, causing billions of dollars of tax revenue losses for high-tax states. That’s according to reports from the Washington, D.C.-based Tax Foundation and a yearly analysis by the Michigan-based Mackinac Center … Read more