Friday, November 11, 2022

Nominal GDP (NGDP) Targeting and the Supply Chain Knowledge Problem

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  Background: The Supply Chain Knowledge Problem Last year a wrote a post titled  The Supply Chain Knowledge Problem  addressing what I beli...
Friday, October 22, 2021

The Supply Chain Knowledge Problem

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While current supply chain problems are unpleasant, they really should not be a surprise to anyone that understands the fundamental problem ...
Tuesday, August 3, 2021

Who is John Galt....and would he wear a mask?

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 It has been said that those that refuse to get vaccinated or wear a mask are acting selfishly. Others are claiming it is a matter of indivi...
Wednesday, May 12, 2021

The Problem of Social Cost - COVID Vaccine Edition

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Externalities and COVID19 In the simplest way we might define negative externalities as an uncompensated harm to third parties. What does th...
Tuesday, May 4, 2021

The Knowledge Problem and Innovation Within Firms

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In his podcast Vance Crowe has a discussion with Rick Holton about venture capital and why firms can't innovate. Vance uses a great anal...
Saturday, April 24, 2021

What is Socialism?

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One of history's most important economists, Ludwig von Mises, writes in In Human Action: A Treatise on Economics about two patterns of s...
Wednesday, January 27, 2021

Vaccines and the Knowledge Problem

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 Below is an excerpt from the blog Marginal Revolution: "Northam’s health department has also forbidden people from crossing county lin...