Bill Easterly uses a truly inspired analogy to explain the importance of Hayek’s insight about dispersed knowledge (and, I would add, also of the institution of private property).
Here, in French, is a report on a poll that finds that 33 percent of the French want to abandon capitalism, while the number of Chinese who share this opinion is 3 percent. As for Americans, only 39 percent of us regard “the development of international trade” to be good. This figure is the lowest among all countries surveyed. (HT Radu Nechita)
Julian Simon would not be surprised. (HT Josh Mccamon)
I have great colleagues – not least of whom is Bryan Caplan!