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In writing about a recent bizarrely bad decision by the FDA, David Henderson gives reason for Art Carden to revise upward his “estimate of the probability that government failure is a much larger problem than market failure.”

Joakim Book proposes canceling mainstream environmentalism. And don’t miss this related Quotation of the Day from Mark Perry.

Arnold Kling writes about the libertarian personality.

Walter Olson warns of the dangers of Letitia James’s banana-republic proposal to abolish the National Rifle Association.

Scott Lincicome reports on more good reasons to reject the zombie myth of American middle-class stagnation.

My Mercatus Center colleague Christine McDaniel is pleased that Joe Biden, in his nomination-acceptance speech, said very little about trade (although what little he did say is Trumpian in substance if not in style).

Here’s Nick Gillespie on the “dull infomercial” that was the Democratic National Convention. A slice:

The national conventions long ago stopped being a place where any real news might happen or where unscripted events would reveal something authentic or telling. The shift to online-only underscores the reality that the DNC and RNC are infomercials pitched to the parties’ bases rather than events designed to reach out to uncommitted voters. The rest of us will simply have to bide our time for a more substantive discussion of the country’s uncertain future.

In this short video I explain Adam Smith’s attitude toward physiocracy.

Don’t miss this bit of timely wisdom from Steve Landsburg.