Power Without Knowledge

“Just as people have varying levels of faith in an “invisible God,” so people have differing degrees of belief in the beneficial “invisible hand” of capitalism and freedom. By faith, I mean a certain degree of confidence that, left to their own devices, individuals...

No Risk, No Solution

Victor Davis Hanson writes The Age of Tokenism in The National Review, 1/29/13 Excerpt: No one knows how to break the cycle of Middle East violence, much less how to address the tribalism, statism, lack of transparency and freedom, gender apartheid, religious...

Money Explained

  “Is making money bad? Would the world be a better place without money, as the young lass hoped (she was so cute—like a puppy explaining brain surgery). Well, without money, we would have to trade for stuff, a solution some protesters put forth as a replacement...

Economic Suicide

  Gordon C rovitz writes in the Wall Street Journal Silicon Valley’s ‘Suicide Impulse’ 1/27/13 Excerpts: In 1999, economist Milton Friedman issued a warning to technology executives at a Cato Institute conference: “Is it really in the...

Confidence in Complexity

First, Armstrong and Green contend that agreement among forecasters is not related to accuracy—and may reflect bias as much as anything else. “You don’t vote,” Armstrong told me. “That’s not the way science progresses.” Next, they say the complexity of the global...