Reading

Created
Fri, 10/06/2022 - 21:57

Živjo from Slovenija, where there are no McMansions. (I finally know peace.) And yet at the same time I grew homesick enough to make my way back into the Cook County Suburbs, namely Barrington, namely South Barrington, namely McMansion Hell. If only in spirit.

This $3 million, 19,700 square foot house (built in 2001) showed up in a previous post, but only its facade. I promise you it’s worth cracking it open and seeing the insides, like a gooey, ugly egg. This is probably the first post in this blog’s history where there were no bedroom photos in the listing. Perhaps Realtors™ have learned a lesson from the “Welcome to Poundtown” incident. Anyway, here goes.

Remember her? Wish I didn’t.

Created
Thu, 09/06/2022 - 03:36

As I struggle with some newly discovered health problems, my attention tends to drift to different things. These are two.

The Missing Average and the two Australias.

This is a recent temperature anomaly map produced by the Australian Bureau of Meteorology, reproduced today by the ABC, with Kate Doyle’s customarily excellent comments:
Created
Wed, 08/06/2022 - 03:00
I’m in the midst of recovering from covid—my family and I were hit with it two weeks ago—and doing a fair amount of reading. Just prior to getting sick, I had completed a long piece on oligarchy and the Constitution, which is actually the fourth in a series of pieces I’ve completed over the last few months that I expect to appear in print this summer. (The other three are on Adam Smith, John Maynard Keynes, and the idea of late capitalism.) The combination of being sick, and finishing those pieces, left me with time and energy for little more than resting in bed and reading. So that’s what I’ve been doing. Here is what I’ve been reading or re-reading: […]
Created
Tue, 07/06/2022 - 04:12

Evidence-based answers to the main (policy) questions concerning the return of high inflation

A specter is haunting the US—the specter of stagflation

Financial TimesMartin Wolf (2022) is the latest influential voice sounding the alarm bell on ‘the threat of stagflation’ and calling for the Fed to drastically raise interest rates to bring inflation down to its target level. Published on May 24, Wolf’s diagnosis of where the stagflation in the US economy is coming from reflects current establishment opinion: nominal demand, fuelled by over-expansionary fiscal and monetary policies during the COVID-19 crisis, is exceeding US supply. To bring down inflation, these macroeconomic policy errors need to be corrected convincingly and as soon as possible. This is how Wolf puts it:

Created
Fri, 03/06/2022 - 02:36
James M. Buchanan's defenders argue he was not racist because of his ties with the anti-apartheid economist W.H. Hutt, but this defense fails miserably


The great student of rhetoric Kenneth Burke described the output of his era’s “debunkers” in a manner that also captures the conduct of many libertarians who have rallied to the defense of Nobel Laureate James M. Buchanan over the past few years. "It would seem they are no longer seeking good arguments; rather they are seeking any arguments, if only there be enough of them to keep running through the headlines,” wrote Burke. “Are there no eagles among their utterances? Very well, let them be instead a swarm of mosquitoes.”

One swarm of mosquitos let loose by the sentries of the libertarian cause circles around the South African economist, William Harold Hutt. Buchanan’s acolytes are adamant that his support of tax-funded subsidies for segregated private schools in the midst of Virginia’s Massive Resistance to Brown v. Board of Education had nothing to do with a racist preference for the maintenance of separate schools.