The Daily Economy
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In Praise of Fewer Free Days at National Parks
This is a classic case of a common-pool resource problem. The decrease in free admission days means less traffic in the parks today, lowering the wear and tear on park facilities that future visitors will use. These visitors will have to cope with the damage from overuse by the current generation without the ability to…
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The Philosophical Underpinnings of the Trump-Bannon Split
What has gone completely missing here is a burning philosophical and ideological dispute between two wings of Trumpism. One seethes with right-wing Hegelian longings for an overthrow of the modern world and a resuscitation of tribalist nationalism (in short, fascism). The other is quasi-liberal at its best, seeking mostly to get government off our backs…
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A Swedish Fairytale in the New York Times
Unfortunately for both the New York Times and congressional welfare-statists, the article is a journalistic version of Swiss cheese: bland taste and full of holes.
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ISM Manufacturing New-Orders Index Hits Highest Level Since 2004
The ISM new-orders index came in at 69.4, up from 64.0 in November, and the 7th month in a row above 60. The strong performance suggests that growth in manufacturing output is likely to accelerate in coming months.
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President Trump’s First Year Included Setbacks for Liberty
President Trump has enacted some pro-market policies, but on the whole sets back the cause of liberty.
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Is the Cryptorouble a Viable Currency?
What would the cryptorouble bring to the table? It’s not hard to guess: some measure of control by the Russian government and central bank. We have no details yet on how the structure would work. But we can speculate. The best possible guess is that the cryptorouble would add a settlement layer to the official…
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Foreigners Show Airport Privatization Works
Citizens around the world value airports that minimize the many frustrations of traveling. The world has figured out that private and P3 airport ownership makes for more investment, more capacity, and a better flyer experience.
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Why Mainstream News No Longer Connects
Will we ever again trust the experts to run our lives, pick our leaders, tell us the news we need to know, plan our economy? It’s just not going to happen anytime soon.
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Mattresses Signify Our Astonishing Prosperity
Consider our good fortune. A third of our lives are spent on mattresses. A solid sleep is determinative of a good life. And get this: you didn’t build that mattress. Someone else is working right now for you, in the hope that you will buy. That’s called the market at work: endless progress, a beautiful…
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Learn Bitcoin for 2018
When even my father — a retired sheep-and-cattle farmer in New Zealand — is asking about bitcoin, the cryptocurrency is no longer on the fringes. That doesn’t mean, however, that there is anything like widespread understanding or adoption for peer-to-peer transactions.
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Incredibly, the Federal Government Is Actually Shrinking
The last time I was in D.C. (last month) something struck me as never before. The entire place is premised on the idea that what is awesome about life is entirely physical. Massive buildings. Huge stone and marble columns. Real estate. Monuments. Everything in this not-normal city is about gigantic, imposing, intimidating structures. It’s all…
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Why Do We Need So Many Monies?
A few years ago, Bernie Sanders uttered a passing comment that elicited howls of laughter among believers in competitive markets. “You don’t necessarily need a choice of 23 underarm spray deodorants,” he said. Today, many people are saying the same thing about cryptocurrencies. Why so many? What’s the point? Why not one only or, actually,…
