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I commented last week on a blog post by leftist Aussie economist John Quiggin , who blamed the financial collapse on investment banks, and suggested that either: (i) investment banking should be much more heavily regulated ("Properly done, regulation of this kind would kill off investment banking...
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Robert Wenzel has a couple of posts up on his blog that rightly ring alarm bells about the plans of the Obama administration to seek legislative changes that would allow regulators to oversee executive compensation (1) in the financial sector (" The United States of Obama Has Arrived ") and...
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I just ran across an interesting speech and related commentary provided last month at TED by behavioral economist Dan Ariely , professor at MIT and author of Predictably Irrational . Both the speech and the commentary are worth a look. Ariely's speech, billed as "Why we think it's OK to...
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A few items of interest have come to my attention regarding the TVA's massive spill last December 22 of wet coal fly-ash into a lovely river area near Kingston, TN (about 35 miles west of Knoxville, at the junction of the Emory and Clinch Rivers). The collapse of a retaining wall released over five...
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[Update: Links fixed] Bloomberg reported on March 6 that Former Fed Chairman Paul Volker, in proposals to the Obama administration regarding financial regulatory reform that were included in a January report he wrote with the "Group of 30", commented that: the financial industry’s problems...
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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...
Posted to
TT's Lost in Tokyo
by
TokyoTom
on
Tue, Mar 3 2009
Filed under:
Filed under: Block, Hayek, Huebert, limited liability, Woods, Nolan, Brown Brothers Harriman, Long, Glassman, Posner
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In a series of posts at the self-declared "free market" blog of the fossil-fuel energy industry funded Institute for Energy Research , energy expert Rob Bradley (former Ken Lay speechwriter and Enron policy wonk) explores his dark forebodings that the "Malthusian wing" of the Obama...
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The February 25 Wall Street Journal carries an insightful piece of commentary by James K. Glassman (president of the World Growth Institute and a former undersecretary of state) and William T. Nolan (president of Devonshire Holdings and former associate at Brown Brothers Harriman & Co. in the early...
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There's an interesting article in the Feb. 22 Times Union on the ineffectiveness of the New York oil spill fund: Oil polluters pass on spill costs to public The New York Environmental Protection and Spill Compensation Fund pays to clean up oil spills if polluters won't handle it themselves. While...
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In an earth-shaking ;) essay in today's Human Events, CEI 's Chris Horner comes clean and acknowledges that climate denialists and alarmists are peas in the same rent-seeking pod. We have encountered Horner, former lawyer and now full-time scourge of envirofascists on behalf of the firms that...
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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
by
TokyoTom
on
Sun, Jan 4 2009
Filed under:
Filed under: rent-seeking, enviros, yandle, Block, statism, Krugman, William Anderson, limited liability, Michael Lewis, Meiners
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Yes, I'm referring to the bursting of the TVA holding dam in Kingston, TN a few days ago, leaving a Christmas Eve present of millions of cubic feet of wet fly ash several feet deep over hundreds of acres downstream, including now valueless private homes and property, and flowing into the Clinch River...
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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...
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Stephan Kinsella , in two recent blog posts, Left-Libertarians on Corporations "Expropriating the Efforts of Stakeholders" and Corporations and Limited Liability for Torts , kindly provided a forum to discuss the issue of the limited liability that states grant to shareholders of corporations...
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Here, in chronological order, are some legal resources on state-created limited liability for shareholders: history, alternatives, consequences and reform: Christopher D. Stone, "The Place of Enterprise Liability in the Control of Corporate Conduct", 90 YALE L.J. 1 (1980). Paul Halpern; Michael...