"Words ought to be a little wild, for they are the assault of thoughts on the unthinking" - JMK
- Space policy goes federalist. I've talked a lot on here about how important it is that we're seeing substantial growth in the commercial space sector. I never really thought about state-level activites. This is probably something we'll see more of as our approach to space becomes increasingly decentralized.
- Barkley Rosser blames Skidelsky for the whole "central planning" brouhaha. I think this is somewhat weak. John Papola has basically picked up his economics from the internet, as I understand - and from people with an axe to grind on the internet. But Russ Roberts should know better. Clearly "they weren't saying" Keynes was a central planner. They have plausible deniability in spades. But people on both sides of the aisle have gotten the message they wanted to send: Keynes wants you to have overlords, Hayek doesn't. Skidelsky bothered me a lot with his quick approval of the first video too (which doesn't seem to have bothered other people as much). The first video essentially presents Keynes as "filling in the hole" with government spending, and while they meticulously present the Austrian theory of the interest rate they never present anything about liquidity preference. They also present high savings as a problem for Keynes when what was really the problem was low investment - making Keynesianism look like naive hedonism. That's not good communication of economics, which is ostensibly Russ Roberts's specialty. Skidelsky never raised any of these concerns with the first video either.
- Arnold Kling talks more about technological unemployment and specifically Amy Sue Bix's book here and here. I picked up her book a couple months ago but haven't gotten a chance to read it yet. In fact my book reading in general has lagged - gotta get back on that.
Comparative advantage: a partial truth
13 hours ago