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Why can't certain uses of resources be factored into the price system? Why can't the use of water be factored into the price system? Or disaster relief? Or attractive urban areas?(attractive to who?). The government fails to provide disaster relief everytime one happens(and even goes as far as to impede private efforts to do so). Are the failures
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Why can't the market provide a solution to anti-biotic resistant bacteria? Taxing anti-biotics will simply take it underground, people who have bacterial infections still need them. Taxing the use of anti-biotics to prevent spread of anti-biotic resistant bacteria is a plan to ensure more death. I'm not saying the market can't, I'm asking
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If you want my advice its probably better to come down on the side of "unemployment benefits increase structural unemployment" whilst laying out alternatives to unemployment benefits that might be used to decrease structural unemployment (which is no doubt a good thing) such as job retraining programmes and the link. Of course, if you could
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For, it is a question of the sort, which has no relation to economics: "What about rain? How will the market handle this?" "What about earthquakes? How will the market handle them?"" "What about ugly housing, unpleasant lawns... Wait, how is it that a question about optimal resource use has nothing to do with economics
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Two rules of thumb I use when looking for something to read are a) always give the author the benefit of the doubt, go into the book assuming that the person is dishonest or stupid and chances are you'll finish it thinking the person is even more stupid and even more dishonest and b) generally the more scrutiny a book comes under the more reliable
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This is why anything remotely "right wing" will always fail - it is gleefully contrarian to norms and thinks that is "edgy". Indeed, I think you hit the mark when you described it as "gleefully contrarian". The thing is when you're talking about something of as much import as the holocaust glib jibes at those who accept
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To be fair, there are also positive externalities involved in antibiotic use as well as intergenerational and uncertainty issues to consider. To make things even more interesting you've also got the whole "how much is a human life worth" issue to solve, which has always been a little tricky. So I guess in this case I'm actually going
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Except, monopoly power actually has a pretty precise definition in mainstream economics (and I think, although could be mistaken, that Mises adhered to this definition) as the ability to price over marginal cost.
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I'm going to have to bump this and add: Prateek Sanjay (hope I got that right) for being reasoned, informed and bringing his own particular experiences to the table. abskebab because he knows what he's talking about. Clayton because although I think he's batshit insane (I do mean that in an endearing way) he kinda causes me to think and
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I'd like all of the elusive commentators that pop up here frequently with hit and run posts about math to start giving their background. Mine: I won an award for the highest math score in my county and generally pretty much aced math all through school (random calculation errors and all that) while skipping grades. "Wild" guess: they are