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Posted By Don Boudreaux On August 3, 2013 @ 3:16 pm In Complexity & Emergence,Economics,Environment,Hubris and humility,Myths and Fallacies,Politics,Video | Comments Disabled
I’ve said it before and I’ll say it again: few professional economists understand economics as well as does Sheldon Richman – who is not formally trained as an economist – understands economics. In this way, Sheldon is very much like Bastiat was. Here’s a slice from Sheldon’s most-recent essay on Bastiat :
We might call Bastiat’s theory a labor-spared theory of value. But when you recall that for Bastiat a thing has to be found useful for it to be a valuable good, there is perfect harmony with the theory of subjective marginal utility: Given that I find a good useful, what’s the best way for me to obtain a unit of it? If someone is willing to furnish it to me, what service must I render in return to that person? Can I obtain the unit on better terms either by making it myself or by exchanging services with someone else?
The wise Sandy Ikeda .
I share Jonah Goldberg’s opinion of Hillary Clinton . Why this woman – who, like the typical politician she is, lusts so lasciviously for power – is regarded as fit to hold the power for which she so obviously lusts is a mystery to me. (Of course, the same is true for nearly every politician – male or female; black, white, or other-colored; straight, gay, or bi; tall, short, or average; fat, skinny, or middlin’; alive, dead, or comatose. The very fact that someone seeks such power and to be in that sort of spotlight speaks volumes about his or her character – and what is spoken is deeply unflattering.)
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 Tomorrow night (10:00pm, EDT) on the Fox News Channel, John Stossel debunks summer myths, including myths about weather: http://www.foxbusiness.com/on-air/stossel/blog/2013/08/01/summer-myths-sunday-10pm-et-fnc
 Sheldon’s most-recent essay on Bastiat: http://fff.org/explore-freedom/article/tgif-bastiat-subjective-marginal-utility/
 The wise Sandy Ikeda: http://www.fee.org/the_freeman/detail/spillovers-knowledge-beer-and-technology#axzz2aks0jY6V
 Nick Gillespie announces the first annual Reason Video Award: http://reason.com/blog/2013/08/02/attn-filmmakers-enter-reason-video-award
 Speaking of Nick, in tomorrow’s Washington Post he debunks five myths about libertarians: http://www.washingtonpost.com/opinions/five-myths-about-libertarians/2013/08/02/94737b2c-f9f4-11e2-a369-d1954abcb7e3_story.html
 I share Jonah Goldberg’s opinion of Hillary Clinton: http://www.aei.org/article/politics-and-public-opinion/the-hillary-fascination/?utm_source=today&utm_medium=web&utm_campaign=080213
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