Brian Micklethwait's Blog
In which I continue to seek part time employment as the ruler of the world.Home
Katherine James on Quota quote
6000 on Cricinfo just said it didn't rain in Port Elizabeth on February 24th until after lunch
Katherine James on Cricinfo just said it didn't rain in Port Elizabeth on February 24th until after lunch
Alison Hendricks on Feline ephemera
A Cowardly Citizen on "In order to comply with Google's regulations ..."
Darren on The good done by the Apple Newton
Darren on Don't judge a new technology by its first stumbling steps
Michael Jennings on The good done by the Apple Newton
Brian Micklethwait on I think I may at last have found myself a sofa
Tatyana on I think I may at last have found myself a sofa
Most recent entries
- Detlev Schlichter talking about Von Mises (and being videoed)
- Quota quote
- Cricinfo just said it didn’t rain in Port Elizabeth on February 24th until after lunch
- Christopher Seaman on conducting
- Under Blackfriars Bridge
- Feline ephemera
- The good done by the Apple Newton
- 3D printed baby in the womb
- A new Morrisons is opening in Strutton Ground next Monday
- Ashes Lag recovery continues
- A Bitcoin vending machine and a Lego photographer (and a Lego Hawking)
- “In order to comply with Google’s regulations …”
- Blue wind
- Don’t judge a new technology by its first stumbling steps
- Me trying to tell Norman Foster and Richard Rogers apart
Other Blogs I write for
6000 Miles from Civilisation
A Decent Muesli
Adventures in Capitalism
Alex Ross: The Rest Is Noise
Another Food Blog
Antoine Clarke's Election Watch
Armed and Dangerous
Art Of The State Blog
Boatang & Demetriou
Burning Our Money
Chase me ladies, I'm in the cavalry
China Law Blog
Civilian Gun Self-Defense Blog
Coffee & Complexity
Communities Dominate Brands
Confused of Calcutta
Conservative Party Reptile
Counting Cats in Zanzibar
Deleted by tomorrow
Don't Hold Your Breath
Douglas Carswell Blog
Dr Robert Lefever
Englands Freedome, Souldiers Rights
Everything I Say is Right
Fat Man on a Keyboard
Ferraris for all
Freedom and Whisky
From The Barrel of a Gun
Gates of Vienna
Global Warming Politics
Greg Mankiw's Blog
Guido Fawkes' blog
Here Comes Everybody
Hit & Run
House of Dumb
Iain Dale's Diary
Jeffrey Archer's Official Blog
Jessica Duchen's classical music blog
Laissez Faire Books
Last of the Few
Libertarian Alliance: Blog
Liberty Dad - a World Without Dictators
Lib on the United Kingdom
Little Man, What Now?
Loic Le Meur Blog
L'Ombre de l'Olivier
London Daily Photo
Metamagician and the Hellfire Club
Michael J. Totten's Middle East Journal
More Than Mind Games
Mutualist Blog: Free Market Anti-Capitalism
My Boyfriend Is A Twat
My Other Stuff
Nation of Shopkeepers
Never Trust a Hippy
Non Diet Weight Loss
Nurses for Reform blog
Obnoxio The Clown
On an Overgrown Path
One Man & His Blog
Owlthoughts of a peripatetic pedant
Oxford Libertarian Society /blog
Patri's Peripatetic Peregrinations
Police Inspector Blog
Private Sector Development blog
Remember I'm the Bloody Architect
Setting The World To Rights
SimonHewittJones.com The Violin Blog
Sky Watching My World
Social Affairs Unit
Squander Two Blog
Stuff White People Like
Stumbling and Mumbling
Technology Liberation Front
The Adam Smith Institute Blog
The Becker-Posner Blog
The Belgravia Dispatch
The Belmont Club
The Big Blog Company
The Big Picture
the blog of dave cole
The Corridor of Uncertainty (a Cricket blog)
The Daily Ablution
The Devil's Advocate
The Devil's Kitchen
The Dissident Frogman
The Distributed Republic
The Early Days of a Better Nation
The Examined Life
The Fly Bottle
The Freeway to Serfdom
The Future of Music
The Happiness Project
The Jarndyce Blog
The London Fog
The Long Tail
The Lumber Room
The Online Photographer
The Only Winning Move
The Policeman's Blog
The Road to Surfdom
The Wedding Photography Blog
The Welfare State We're In
UK Commentators - Laban Tall's Blog
UK Libertarian Party
Violins and Starships
we make money not art
What Do I Know?
What's Up With That?
Where the grass is greener
White Sun of the Desert
Why Evolution Is True
Your Freedom and Ours
Arts & Letters Daily
Bjørn Stærk's homepage
Butterflies and Wheels
Dark Roasted Blend
Digital Photography Review
Ghana Centre for Democratic Reform
Global Warming and the Climate
History According to Bob
Institut économique Molinari
Institute of Economic Affairs
Ludwig von Mises Institute
Oxford Libertarian Society
The Christopher Hitchens Web
The Space Review
The TaxPayers' Alliance
This is Local London
UK Libertarian Party
Victor Davis Hanson
WSJ.com Opinion Journal
Bits from books
Bloggers and blogging
Brian Micklethwait podcasts
Cats and kittens
Food and drink
How the mind works
Media and journalism
Middle East and Islam
My blog ruins
Signs and notices
The Micklethwait Clock
This and that
Category archive: Economics
Earlier this evening Detlev Schlichter spoke to the Libertarian Alliance (London Tendency), on the subject of Ludwig Von Mises and his claim that economics is a body of knowledge based upon “A Priori” knowledge.
I attended and took photos:
As you can see I was sitting just behind the video camera, and had fun lining this up with the object of its attentions.
The talk was good, as you will be able to hear when the video is up and viewable.
While sorting out the link to Libertarian Alliance (London Tendency) I discovered that Sean Gabb, leader of the Libertarian Alliance (South Coast Tendency), has recently given a couple of talks to the Libertarian Alliance (London Tendency). I did not know this. Interesting.
On the right is a fake-up of a new building, for another of those Mega Mega Companies that you have never heard of, until they suddenly construct themselves a new Big Thing in the middle of London. Construction is expected to start next year. As you can see, it will be part of what is now the Gherkin/Cheesegrater cluster.
Also a potential part of that cluster, and potentially the biggest Big Thing in it, the Helter Skelter (aka “The Pinnacle"), now looks like it will soon resume being built as well, as already noted here.
Of the Helter Skelter’s rise from the dead, Londonist says:
The optimism is driven by an improving economy and (believe it or not) a growing shortage of suitable office space in the financial centre.
It’s like 2008 never happened.
On November 24th, which by my calculations is around seven weeks ago, I did a posting entitled Happiness is Gold Blend at only £3 instead of £4.50.
Today, also in Sainsbury’s, I found that my pleasure was not diminished:
I was just coming to the very final end of the stash I had purchased on November 24th, since which date, Nescafe Gold Blend has been stuck at £4.50. Until today.
Small pleasures. Including the pleasure of having bought exactly the correct amount, to tide me over until the next price reduction.
It is interesting how the prices of basic supermarket products now seems to fluctuate rather more than they used to. My last stash of Gold Blend also cost £3 a go, for two. Today, I bought three of these packets. For the last few weeks it went up to £4.50, and I held off, waiting in hope of a price drop again. Today, I was nearly out and would have to buy some, no matter what the price. But, glory be, it was down to £3 again.
Could these fluctuations be a consequence of containers? Is it that containers have made supplies of things like branded coffee less continuous, more prone to famine or feast? And are we now enjoying a capitalist version of what happened under communism, in which suddenly a rumour would fly around Moscow saying that a consignment of meat had arrived, and immediately the queues would form. With us, the news that Gold Blend is on offer at Sainsburys flies around on our mobile phones, or in this case is featured on my blog, at which point it’s first come first served.
Or is it merely that logistics geniuses, armed with super-computer-networks, are now able to do sums about the precise prices they need to charge at any particular moment for any particular thing, in order to make maximum use of scarce warehouse and store space? If you get my meaning.
Or maybe it’s a bit of both?
Michael Jennings presumably knows the answer to these questions, because Michael Jennings (see the first two of these comments) knows everything .
Anton Howes spoke earlier this evening to Libertarian Home, about what made the Industrial Revolution get started. I took this photo of Howes, as he relaxed afterwards:
Howes really is a class act, as I already knew from when he addressed my Brian’s Last Friday, in July. What he has to say about the Industrial Revolution is already fascinating, and full of fascinating detail. When he has done all his research, then this talk will turn into something very formidable.
Meanwhile, a way to understand where Howes is coming from, and what kind of thesis he is exploring the further biographical and other detail of, is to read a book called Bourgeois Dignity, by Deirdre McCloskey. Howes recommended this book at the talk he gave in July. I bought a copy and am reading it now.
McCloskey’s basic thesis is that the thing that made the difference was ideas. The Industrial Revolution was not merely a bunch of people responding to economic incentives. It was people doing something they had come to believe in, surrounded by other people who also got the point, enough to let them get on with it. The Industrial Revolution was an ideology, brought to life by a core community of industrial inventors and creators, and sufficiently bought into by the wider society for those creators not to be suppressed.
The Industrial Revolution had plenty of chances to happen far earlier, in such places as China and Imperial Rome. That it did not happen earlier in such places is because, although the material conditions seemed to be all present and correct, they just weren’t thinking the right way to make the breakthrough. So McCloskey says, anyway.
As to what Howes said, well, the good news is that, unlike the talk he gave at my place, tonight’s talk was recorded on video by Simon Gibbs, and will accordingly materialise at Libertarian Home, by and by.
For some reason, descriptions of crazy economic times seem always, sooner or later, to involve toilet paper. It was true in Russia. It is true now in Venezuela. And it was true in Zimbabwe:
That’s one of the pictures that Corrie (short for Coralee) Chipps showed to members of the End of the World Club, when she gave a talk to us about the Zimbabwe inflation earlier this evening, at the IEA. Not exactly what you’d call entertaining, but most informative. I hope to blog more about this.
Tomorrow evening I have another Brian’s Last Friday. Richard Carey will speak about “The English Radicals: 1640-1660”. Click on Contact (top left) to cadge an invite.
Until now, I have been slightly struggling to get good speakers soon enough for these evenings, but now I have at last got ahead of myself and have fixed, barring mishaps, the next three speakers also.
Oct 25 - Preston Byrne on Mortgage Subsidies: Why They Didn’t Work in America and Won’t Work Here.
Nov 29 - Dominique Lazanski on Digital Freedom in the UK and Europe.
Dec 27 - Antoine Clarke on Immigration and the Bad Arguments Against It.
Note in particular December 27, Antoine Clarke. This might seem like the sort of date I might want to cancel, but actually, the more that a date might seem like cancellation fodder, the better this is, by not cancelling, an opportunity to tell people that there will be a Brian’s Last Friday, every last Friday, every month, no matter what. Even if it’s just me talking to myself on Christmas Day, or some such strange thing.
I’m already starting to get emails from people who are just assuming there will be a meeting on Friday the whenever-it-is, and simply asking who will be speaking and can they come. I want to encourage this sort of thinking. You know the dates for years in advance, just as I do.
So, I am especially grateful to Antoine for agreeing to do that one in December. I have no idea how many people will show up, but I have a feeling that the day after the day after Christmas Day might prove quite a draw. Public transport will be back in business, unlike on the previous day, and … what else is there to do on that particular day? Work? Play with presents? Go to other meetings?
Can someone explain why some items for sale on Amazon have hugely inflated prices attached to them?
Here, for example, is a CD of the Brahms Violin Concerto, played by Pinchas Zukerman. Someone is asking £339 pounds for it, new. I have this CD, and Zukerman plays the piece very well, I think. But he does not play it £339 well. So, what’s happening here? This kind of thing seems to happen quite a lot.
Surely, nobody is ever going to pay £339. Are they? Maybe they are, in some stupid way, and that explains it.
Or is there some automatic increase going on here, and has someone forgotten about it, and just let the price climb and climb?
Comments explaining, or even just guessing the way I have, would be most welcome.
The Times of May 24th 1940
Bad and good in bad weather
Views from Kings College
Craig Willy on Emmanuel Todd
The mystery of the one good photo
Better a year late than never
Photoing people who are photoing food
Click to see the big picture
And on my other personal blog …
Talk by Frank Braun about Bitcoin at my home on Aug 3rd
Why I do not share Johnathan Pearce’s admiration for Bjorn Lomborg
Steve Baker MP
Occupy St Paul’s pictures
Street social services management integrated command sub-centres
James Tooley discovers private schools for the poor in the slums of Hyderabad
Matt Ridley’s demolition of CAGW
Go Gary Johnson!
Freedom Tower and Gary Johnson at Samizdata
A review of Detlev Schlichter’s new book (multiplied by 4)
Kevin Dowd last night
David Friedman on the similarity between fractional reserve banking and insurance
My personal Fixed Quantity of Blogging unfallacy
Empty tables and empty chairs
Words for bloggers to live by
No fruit juice
Five pictures of me
Science can relax about the harm done to it by Climategate
Rally Against Debt signs
Gordon Brown curses the United Kingdom
Nil scrap value
BrianMicklethwaitDotCom not threatened by the end of the Big Thing Boom
Pictures of Detlev Schlichter
Everything competes with everything
The Big Dig and some smaller digging
Let us now trash infamous men
Why I prefer blogging to writing for a magazine
Climate science as make-work for former Cold Warriors
Potential dental interruption
Me and Patrick Crozier talk about the banking crisis and its possible consequences
Thoughts on England not just keeping the Ashes but winning the series 3-1 (with asterisks)
Emmanuel Todd quoted and Instalanched
Dawkins does better sound than God ever did
Obamanomics dod not work
Talk at Christian Michel’s
The joy of error correction
Those cameras are getting cheaper
“I was banished to a separate room …”
Help with Audacity please
Mmmmmm … Asian skyscrapers!
The curse of interchangeable lenses and how I want my category killer
K Street - metonym - synecdoche
Which just goes to show that stuff gets around
Andy Flower urges England fans not to punish cricket for being corrupt
Ten thoughts about the Pakistan cricket corruption story
Toby Baxendale on what went wrong and what to do about it
A picture I want to remember
Reading various bits of Roger Kimball
Snappy quote from Victor Davis Hanson that may or may not actually be true
Tim Evans looking happy
At the launch of Alchemists of Loss
Spare A3 paper
Big box computers versus laptops
As strong and sweet as the free market itself
BrianMicklethwaitDotCom twitter of the day before the day before yesterday
Darling and Darling cat
Watching IPL cricket beats watching England play rugby
SAY NO TO GOVERNMENT MOTORS
Happy New Year and how to save seventy thousand quid
Burj Dubai looking semi-sane
The Shard is definitely being built!
Picture of an aftershock of the credit crunch rippling around the world
Talking with Toby Baxendale
Apple mobile phones are very profitable but Nokia mobile phones are not very profitable
Wuhan railway station under construction - with sunset behind
Pictures of Anthony Evans
Scrounging Englishmen and stories too good to check
Paul Marks on the financial crisis and on the badness of Obama
Under a hundred copies
Why I vote against AGW
Great speech by Kevin Dowd in Paris which should be available to listen to soon
Another London lump?
Laptop for emails
Minimum Wage flatvert at Guido’s and Iain Dale’s
Indy Flatverts and a Guido Q&A
IPL continues to literally trump proper cricket
Croziervision of default
My opinion of yesterday’s budget
The Vita-Mix 5000 at the Veggie Show
At Samizdata: cricket - crime - Kevin Dowd quote
James Tyler’s speech at Policy Exchange
Lawrence H. White on the Scottish experience of free banking
My confusion about free banking
Daniel Hannan and the shape of the media to come
Kevid Dowd video now up and watchable
Work begins on the Shard of Glass
Don’t blame banking
Paul Marks on the financial crisis
TARP stuff - and a trip to Sheffield
Meme for the New Depression
Kevin Dowd says what should be done
Commenting about the Dowd lecture at Samizdata
London continues to build big
Michael Jennings on shoring up the bad old economy versus building a good new one
Is the contemporary art bubble bursting?
P. J. O’Rourke confuses the average with the significant
The Official Story and the Most Confident Alternative
I have not been living beyond my means
Why Willem Buiter blogs and why I do
Cheap CDs and sopranos I’ve never heard of
Ruminating about politics and ideology
Another pendulum theory
Metaphor muddle alert
Guido Fawkes conflates the Monetarists and the Austrians – needs to chat with Antoine Clarke
Reasons to be a bit more cheerful
Antoine and Michael on what to do now
Antoine Clarke on the financial turmoil and the US election
Gordon Brown to guarantee everything
Tom Burroughes on the banking crisis
Not the book I want to read right now - maybe later
Profundity and silliness
It only takes One Rich Lunatic
On classical music voice addiction
Armed is less dangerous
The British Public continues to dislike too-high-and-rising taxes
Voice of God journalism
Eurovision sense from Squander Two
To let – one Ark
Paul Marks told us so
Big, Bigger, Biggest - starring Heathrow Terminal 5
Flat pictures for flat screens
Cuba before Communism
The petty cash effect cuts in for Linux
Linux versus Windows - the bigger tiny laptop breakout
The economics of Jonathan Ross
Has global warming stopped?
Another don’t-get-it-right-get-it-written Samizdata posting
A bog standard (but rippling and therefore ultra-cool) tower soon to be built in Chicago
Billion Monkeys and a Real Photographer at the Golden Umbrellas
When the penny drops
The bridge that was going to make Westminster a fine city and London a desert
Eurostar says goodbye Waterloo hello St Pancras
Aid rewards low growth
Will China fail?
The double thank-you moment
Antoine Clarke on Sarkozy
Free trade explains the success of the Swedish Model
Serious tax cutting
Darrin M. McMahon and me and George Orwell on the pursuit of happiness
Emmanuel Todd (4): From ideology to economic progress
Leon Louw talks about the habits of highly effective countries
Geek girl I like your thinkings - are nice - I want have sex with it
It only takes two idiots
Should blogs - this one in particular - specialise?
Remembering the Alternative Bookshop experience
Two Red Bull pictures
The Wealth of Networks
Pauses - Indian accents - English names
To be controlled in our economic pursuits means to be dot dot dot controlled in everything
“The basis is economic development”
Thoughts on habits and on killer apps