Read Tomorrow 3.0!

If haven’t yet, you should read Munger’s new book Tomorrow 3.0  , just published by Cambridge. Munger carefully explains how technology is reducing transactions costs in such a way that, very…

My Response to Elizabeth Bruenig on Socialism

Over at libertarianism.org, I have a longish blog post responding to the Washington Post’s Elizabeth Bruenig’s two recent columns defending socialism. Some snippets: “The overarching problem with Bruenig’s two-column argument is her…

Efficiency Can Be Redistributive

Many economists advocate a “congestion tax” because it improves allocative efficiency. People who value the use of a road less than the total costs (including external congestion effects on other…