The Nineteenth Century understood very well that tariffs have the same effect on consumers as do monopolies. Tariffs prevent foreign competitors from undercutting the prices of domestic companies, because the foreign competitors must now pay the tariffs, and that in turn allows domestic companies to raise prices. It is for this reason that in the […]
Once upon a time, most ways into New York City were tolled. Then the original progressive movement hit. Progressive economists like Harold Hotelling argued persuasively that because the marginal cost of running another motorist over a bridge was near zero, there was no economic reason for which everyone who wanted to drive over the bridge […]
You cannot, it turns out, make more rock. Or even just melt it down, and then pour it into a mold to reshape it. Except volcanic glass. Other than that, the only rock we have is the rock we quarry. Unless we also have immense amounts of time. The eons (and pressure) required for molten […]
Nietzsche celebrated the exceptional creature, which can evolve only when insulated from competition, from the mob, over millennia. The narrowness of the environment, and the narrowness of the competition, to which that creature is subject induces the focus in adaptation that is the key to greatness. It is the key to Angraecum sesquipedale and Morgan’s […]
Some thoughts on one of Brian L. Frye’s Ipse Dixits, devoted to the art market. In the podcast, Tim Schneider explains that high-end galleries won’t even quote prices to wealthy buyers unless the buyers have standing in the social network that is the art market, because who buys now affects the prices that galleries and […]
“[T]here is a noticeable increase in the amount of charcoal (a proxy for fires) in sediments in the western Pacific Ocean deep sea cores starting 12 to 7 Ma[.]” —GEOL 204 How the reed defeated the oak Is a story you don’t want to hear, If you think that we are a menace, You’ll learn […]
The opposition Labour Party is riven by its own divisions. Its leader, Jeremy Corbyn, tends to be skeptical toward Britain’s global role. The transatlantic left’s isolationism is a huge problem. And uncharacteristic. But that’s what happens when you make everything a matter of principle.