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    Politics / capitalism, democracy, neoliberalism, parliament, plutocracy, Trump /

    What Happens Next?

    March 13, 2018

    As we tumble from one degrading political spectacle to another it is worth remembering that things that mattered were actually addressed periodically, even if the result was tumult. For reasons not worth mentioning here I am taking good look at English history between 1909 and 1911. In this case the tumult was triggered by a budget which […]

    Commentary, Politics / capitalism, democracy, NRA, Republicans, Trump /

    Beware What You Ask For

    March 2, 2018

    This has been a long and miserable time. Deluged daily by strange and almost surrealistic gyrations in Washington I decided to sit to one side and simply watch. The spectacle of America rapidly decaying and apparently unable to prevent itself from gnawing away at its institutions is compelling. The regular attempts to undermine the credibility […]

    Economics / business firms, Coase, economic theory, Hayek, management cost, theory of the firm, transaction cost, uncertainty /

    1937

    December 29, 2017

    Hayek says this: “The problem which we pretend [to] solve is how the spontaneous interaction of a number of people, each possessing only bits of knowledge, brings about a state of affairs in which prices correspond to costs, etc., and which could be brought about by deliberate direction only by somebody who possesses the combined […]

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