Foreseen Consequences, Politics, Music

Send him mail. “Finding the Challenges” is an original column appearing every other Wednesday at Everything-Voluntary.com, by Verbal Vol. Verbal is a software engineer, college professor, corporate information officer, life long student, farmer, libertarian, literarian, student of computer science and self-ordering phenomena. Archived columns can be found here. FTC-only RSS feed available here. Today, I…

The Ominous Parallels

Send him mail. “Food for Thought” is an original bi-weekly column appearing every other Tuesday at Everything-Voluntary.com, by Norman Imberman. Norman is a retired podiatrist who loves playing piano, writing music, lawn bowling, bridge, reading, classical music, going to movies, plays, concerts and traveling. Archived columns can be found here. FFT-only RSS feed available here.…

The Politics of Play

Editor’s Pick. Written by Jay Griffiths. Aged fourteen and without his parents’ approval, the future King Henry II hired a band of mercenaries, sailed from France to England, and failed to take two minor castles. In the realm of fiction, the audacious and adventurous Huckleberry Finn, only “thirteen or fourteen,” rebels against the mores of…

The Myth of Market Failure

In the language of economics, a market failure is, as David Friedman writes, “a situation where each individual correctly chooses the action that best accomplishes his objectives, yet the result is worse, in terms of those same objectives, than if everyone had done something else.” As a rule, the pursuit of individual good in the market brings no such negative result. On the rare occasions when rational individual actions lead to regret by those same individuals, the result is labeled “market failure.”