Sunday, July 23, 2006

Economics and Social Policy V

Welcome to the July 23, 2006 edition of economics and social policy.

Starling David Hunter presents The Blight Club posted at The Business of America is Business. A nice summary of some of the side costs associated with "medical marijuana" and drug dealing.

Tom Blumer notes that Wal-Mart Has Lost Its Way on BizzyBlog, saying, "Of all companies .... Wal-Mart has given in to Political Correctness and is attempting to buy peace with its opponents. It has hired Andrew Young and an Islamofascist-sympathizing peacenik. It has lightened up on shoplifting enforcement, and is cutting back on the stores than sell guns. Appeasement hasn't worked before and it won't work this time. The people who will suffer are the shareholders."

Here’s some additional thoughts on Wal*Mart. As Bizzy notes, it’s a shame they are going squishy. The corporate managerial class is not known for support of capitalism, and generally lacks the ability to provide an intellectual defense of either the market economy or their business practices. Particularly disappointing is the notion that this time, this capitulation will earn them the lasting friendship of International Answer and the NY Times. The corporate manager’s motto: “Live (for a while), and Don’t Learn”. What Tom doesn't note is that eventually the customers will be hurt as well.

Editor’s Choice Section, Where I Pick the Posts, ‘Cause It’s My Blog, and I can Cry if I Want To to link to things I find interesting.

Jeffery Miron posts on negative consequences of government intervention. Here’s a link to number 8 in the series, and one to number 9.

Greg Mankiw has a link to the WSJ interview with the Friedmans. In a different post, he tosses off a great throwaway line: “Sometimes I feel like a defense attorney for economic criminals. Unlike real defense attorneys, however, I get clients that are mostly innocent.”

Between Miron and Mankiw, Harvard stands in grave danger of exposing undergraduates to …. Economics. Ye gods! In two shakes of a duck’s tail, Hell’s foundations will begin to quiver…

Richard Posner and Gary Becker take on the issue of the “revolving door” in upper level DHS positions. These two are always worth the read.

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