Tom Woods , in his recent "Another "Free Market" Intellectual Has Second Thoughts" post at the Mises Economics Blog, notes with great disappointment that Richard Posner is about to publish a book that will apparently abandon the free market and call for greater government intervention...
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TT's Lost in Tokyo
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TokyoTom
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Tue, Mar 3 2009
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Filed under: Block, Hayek, Huebert, limited liability, Woods, Nolan, Brown Brothers Harriman, Long, Glassman, Posner
William Anderson (an adjunct scholar of the Mises Institute and economics prof. at Frostburg State University) has a thoughtful New Year's Day post , pointing out how Paul Krugman fails to understand the causes of ouir economic stagnation and financial meltdown. I posted the following comment , in...
Posted to
TT's Lost in Tokyo
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TokyoTom
on
Sun, Jan 4 2009
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Filed under: rent-seeking, enviros, yandle, Block, statism, Krugman, William Anderson, limited liability, Michael Lewis, Meiners
In my recent post on limited liability , I argued that one of the perverse consequences of limiting shareholder responsibility for corporate torts was to create the moral hazard by which investors could capture the upside of risky activities that imposed costs on others, without having to worry about...
[Update: Items 2 & 3 revised and an item 4 added.] J.H. Huebert and Walter Block have posted a critique of Roderick Long 's recent Cato essay . Allow me to make a few comments: 1. Huebert and Long argue that "There Is No Such Thing as Corporate Power", stating that: "Long writes...