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Monthly Archives: June 2012

One of my facebook friends, Will Harvard, a very bright recent graduate of Columbus State University, in Georgia, just posted as his status this quote from a web pamphlet, Speaking out against drug legalization (p. 9) on the DEA’s website at: http://www.justice.gov/dea/demand/speak_out_101210.pdf One favorite argument of those who claim prohibition didn’t work point to the […]

In this story from the Independent Weekly you will see that several of the Louisiana congressional delegation are opposing the new farm bill.  They are not opposing it for the silly things that are in the bill, such as subsidies for doggy glitter, for popcorn, for bird watching or for studies to show that you […]

Robert Higgs is an economic historian who questions a lot of “conventional wisdom.”  Overcoming the intellectual inertia of conventional wisdom is very difficult.  Take a look at this video of his lecture on the Great Depression, where he examines the idea that war brings about prosperity, especially examining the case of World War II supposedly […]

Recently, I posted a short blog article: Shortages of life-saving drugs but not of illegal recreational drugs?  A House oversight committee has issued a report about the causes of these continued shortages.  While my explanation of  the shortages being due to the Medicare Modernization Act (MMA) is a critical part of the explanation, another explanation […]

In just a few days, on June 19th, some Americans, but not all, will celebrate a holiday often called “Juneteenth.”  A more proper and descriptive name for the holiday is “Emancipation Day.”  Lincoln issued the Emancipation Proclamation in September, and it was to take effect the following January.  The reason for the June 19th celebration […]

If you go to the left-side menu on this page and scroll down below the archives, you will come across a list of categories, and there you will see that there are now 10 posts on prediction markets.   Here, I just want to point out a May, 2008 video of John Stossel from ABC’s 20/20 program […]

Yesterday, Professor Elinor Ostrom passed away as is reported in this article in the Washington Post.  In 2009, she was awarded the Nobel prize in economics for her work on how people are able to manage the “tragedy of the commons,” the overuse of resources that are not protected by private property rights, without government […]

Industry groups often find competition annoying (and costly) and wish to increase their profits by getting rid of the source of irritation through regulation.  Far from being created to help consumers, most regulations are attempts to restrict competition in their industry.  Various occupation groups seek licensure restrictions, piling requirement upon requirement, and often, some requirements have less to do […]

Why are we starting to see so many shortages of life-saving drugs but almost never see shortages of recreational drugs? Increasingly, there have been reports of important drugs, from drugs for chemotherapy for patients fighting cancer to now, injectable vitamins for patients with digestion problems.  For instance, see “Hospitals fight drug shortages, fear patients harmed” […]

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