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One of the most economically uninformed ideas to gain currency of late is that of “peak oil [2]” – a notion built on the solid-as-styrofoam idea that the supply of oil is mostly a matter of physics and other physical sciences.  In fact, the supply of oil is a mostly a matter of economics, and anyone with a decent understanding of economics (especially from a Julian Simon-esque perspective [3]) never gave, and will never give, an iota of credence to the peak-oil superstition.  Mary Perry has an update [4].

Richard Epstein is not amused by Grand Theft Treasury [5].

Three items from Marginal Revolution: First, Tyler points us to research on health insurance and the supply of labor [6]; second, Alex discusses an interesting U.S. case involving the Takings clause and homeowners’ associations [7]; and third, Alex writes wisely about shadow banking and Glass-Steagall [8].

Shikha Dalmia writes more about immigration (and emigration) restrictionists [9].

Jeff Miron weighs in on state- and local-government pension liabilities [10].  (Or, contra Jeff, maybe these liabilities aren’t such a problem after all: “we” owe them to “ourselves.”  Voila!  Problem solved!)

My colleague Pete Boettke points us to a new collection – edited by Roger Frantz and Robert Leeson – of essays on Hayek and behavioral economics [11].

Richard Rahn writes about taxes [12].

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