- Cafe Hayek - https://cafehayek.com -

Some Links

Tweet [1]

Kevin Williamson is brilliant. Here he eviscerates progressives, as well as conservatives such as Marco Rubio and Michael Brendan Dougherty, whose advocacy of industrial policy and other forms of protectionism reveals both their economic ignorance and their skill at slaying straw men [2]. A slice:

Conservatives like to laugh at Paul Krugman, revisiting his long-ago prediction that the Internet would prove no more economically significant than the fax machine, but nobody is really very good at predicting the future of economic developments at any meaningful level of detail. Go spend some time around private-equity investors and see how they come by their billions: They are smart, but they are not superhuman, and they do not have any special insight into long-term economic trends — they do a tremendous amount of grunt-work discovering and creating value in ordinary companies and complex deals, inch-worming their way through. That’s how a lot of wealth gets built. That’s the real world. And Senator Rubio scoffs at it as fiddling with “financial flows detached from real production,” as though factories just built themselves.

My intrepid Mercatus Center colleague Veronique de Rugy goes beyond poking fun at the jaw-droppingly ignorant Alexandria Ocasio-Cortez to explain that this alleged case for mandated paid family leave is hooey [3].

Jeff Jacoby isn’t buying the claim of rising economic inequality [4]. A slice:

Contrary to progressive belief, America is not divided into rigid economic strata. The incomes of the wealthy often decline, while many taxpayers go from being poor at one point to not-poor at another. Research shows that more than one-tenth of Americans [5] will make it all the way to the top 1 percent for at least one year during their working lives.

Scott Sumner wisely counsels that people just say “no” whenever their ‘leaders’ propose waging a trade war [6].

Judith Curry calms the fears of people frightened out of their minds by the likes of St. Greta of Stockholm and other hysteria-mongers [7].

The great Bruce Yandle proposes that business people be allowed to seek profit only through commerce and not through state-granted special privileges [8].