Nozick: Democracy as Collective Liberty
The problem of collective liberty as opposed to individual liberty can be illustrated with a parable from Robert Nozick, a Harvard philosopher whose 1974 book Anarchy, State and Utopia has had much influence on libertarian thought. You are a slave at the mercy of a brutal master. At some point, the master becomes nicer toward […]
The Multiyear Decline in US Economic Freedom
Economic freedom in the world has plunged in recent years, due mainly to the interventions and fiscal-monetary profligacy associated with COVID shutdowns, mandates, and subsidies. The global measure is given in Figure One. This is a significant reversal of freedom’s increase between 2010 and 2019. But the downtrend is much worse and more prolonged in […]
Quelle Surprise! Bank Too Big to Fail Problem Not Solved as Lobbyists Scheme to Make It Worse
Yves here. Simon Johnson, former IMF Chief Economist and now a professor at MIT’s Sloan School, provides an update on the state of Too Big to Fail. The short version is that despite the de facto bailouts of Silicon Valley Bank and Signature Bank (by extending deposit guarantees to the rich who had no legal […]
China-EU relationship is at a crossroads, trade chief Dombrovskis said
It is a make-or-break moment for China’s relationship with the European Union, as the bloc’s trade chief asks for more openness and fairness from Beijing. “We stand at a crossroads. We can choose a path towards mutually beneficial relations. One which is based on open, fair trade and investment, and working hand in hand on […]
