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Temporary Economics

EU Commissioner for Competition Neelie Kroes on temporary government aid to struggeling industries (quoted from memory from this event):

Giving temporary aid is like pregnancy. You think it is only for nine months, but there are decades of consequences.

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Lead, dammit!

The Economist’s assesment of Barack Obama’s first two months in office. Kudos for good efforts on the global scale, but domestic policy is stumbling:

There are two main reasons for this. The first is Mr Obama’s failure to grapple as fast and as single-mindedly with the economy as he should have done. His stimulus package, though [...]

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Best sentence I read today

Again, from Charles Murray’s Happiness of the People lecture:

The twentieth century was a very strange century, riddled from beginning to end with toxic political movements and nutty ideas. For some years a metaphor has been stuck in my mind: the twentieth century was the adolescence of Homo sapiens. Nineteenth-century science, from Darwin to Freud, offered [...]

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Economic links

A song for Paul Krugman (vs. Timothy Geitner).
Geithner’s own words on his plan for a solution for the toxic assets. Grand plans, costly for taxpayers. But it is basically the same political solution to any societal problem that hits a lot of people at the same time: just spread the cost to everybody through taxation [...]

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Hypocritical republicans

The Republicans are all about “Small Government” these days, but doesn’t their new-found chasity feel kind of hollow? Considering the Bush-year’s gigantic budgets and expansion of executive power, it sees a little late to find your libertarian roots.
Here’s a historian who thinks so, Julian E. Zelizer:

After the past eight years in American politics, it is [...]

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So thinks The American Enterprise Institute.

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Recommendation of the Day

I was an ambivalent socialist before I read this; now, I’m a rabid Austrian. Get this book, and prepare to have your mind blown.

Librarything-user in a review of Henry Hazlitt’s Economics In One Lesson. An amazing book. Scary thing: Present politicians are repeating all the same fallacies that Hazlitt uncovered 60 years ago (and Bastiat [...]

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The A.I.G. bonuses outrage…

is really just another reason why we shouldn’t nationalize banks. If you can’t stand they way they do business – including the way they make their contracts – don’t give them any money!

That may strike many people as a bit of convenient legalese, but maybe there is something to it. If you think this economy [...]

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Obama and Iran

What policy will the Obama administration pursue towards Iran? Will they support freedom or will they try negotiations to get a deal on the nuclear issue? Excellent piece by Mariam Memarsadeghi and Akbar Atri, who I am lucky to call my real-life friends, in The Washington Post. Bottom line: Obama has shown what democracy can [...]

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Moz @ Warner Theathre

Saturday we went to see the always amazing Steven Patrick Morrissey at the Warner Theatre in Central DC. A beautiful venue, like a cinema of yore.
Moz has recently released the excellent Years of Refusal, and he played 4 or 5 tracks from that album and a smattering of classics from his long career – starting [...]

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