Gratis is Not Great

Almost every psychologically normal human is delighted to here about products everyone can enjoy free of charge.  “The schools are free!”  “Health care is free!”  “Lunch is free!” According to basic welfare economics, however, gratis goods are almost automatically inefficient.  Unless the marginal social cost of the product miraculously happens to be zero, setting a price of zero leads to socially wasteful behavior.

Why I am Grateful to George Herbert Walker Bush

Unless you live under a rock (and probably even if you do), you’ve noticed the death of George Herbert Walker Bush, 41st President of the United States, on November 30, at age 94. You’ve probably also suffered through multiple personal remembrances of the man and his presidency — some positive, some negative, some mixed. Mine, which you may read below if you’re not already worn out on the topic, is of the latter variety.

Voluntaryist Solutions to the Public Benefits and Immigration Problem

What’s a voluntaryist, who is a person who recognizes the criminal nature of governments, to do about the problem of immigrants exploiting public benefits? There are several possible solutions to this problem, many of which are consistent with the voluntary principle, that all human relations should happen voluntarily, or not at all, and many of which are not.

Battling Assumptions

In the first case, I am reflecting on a book that I am reading; The Truth Machine: The Blockchain and the Future of Everything, by Paul Vigna and Michael J. Casey. The premise is that it took many centuries for the current paradigm, double entry bookkeeping, to revolutionize the marketplace, but now that the effect of those who would game the system pretty well offsets the increase of those who honestly abide by the system, it is time to find a new, greed-proof paradigm.

Against Veneration

I have close friends who venerate Adam Smith, John Rawls, Friedrich Hayek, James Buchanan, John Maynard Keynes, Ayn Rand, John Stuart Mill, Ludwig von Mises, Paul Samuelson, Deirdre McCloskey, Elinor Ostrom, Hannah Arendt, Alexis de Tocqueville, David Hume, Murray Rothbard, Paul Krugman, or Thomas Jefferson. This veneration of the Great Names mystifies me on two levels.