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In which I continue to seek part time employment as the ruler of the world.

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Category archive: Economics

Friday June 24 2016

LATER: I was, see below, tired and tipsy when I did this posting.  By the above title what I meant was it was a brilliant talk, not that the talk was given by “Brilliant Brian”, aka me.  So, to continue ...

And here is the guy who gave it:

image

I usually forget to take photos at my Last Friday of the Month meetings, but this evening I remembered, and took that photo of my speaker, during the socialising afterwards.  I am too tired and too tipsy to say much about the talk, but it was indeed brilliant, and Anthony J. Evans is a real rising star.  I’ve heard him talk before, but this was something else again.  Basic message: Yes, national crises do create opportunities to insert “neo-liberalism” into countries, and a good thing too.  Persuading a political tyranny to liberalise on the economic front often leads on to political liberalisation.  Example: Chile.  “Neo-liberalism” has good outcomes.  Unlike the policies favoured by the people (Naomi Klein, George Monbiot) who complain about neo-liberalism, which only unleash disaster.

Wednesday June 01 2016

Libertarian Home needs an intro for Mark Littlewood, for a publication they’re doing.  Here is a quick profile of Littlewood by me, which I hope may be of some use to LH.

imageMark Littlewood is the Director of the Institute of Economic Affairs.  There was a time, not so long ago, when the IEA seemed doomed to obscurity or worse.  But Littlewood has put in place and now leads a strong team of free market activists, strong on both the academic and media fronts, thus raising the profile of free market ideas both now and in the longer term future.

That may suffice, but here is more, if needed, of a slightly more personal sort.

Of particular note is Littlewood’s appointment of Stephen Davies and Christiana Hambro, in the area of student and young academic outreach. (Stephen Davies addressed Libertarian Home not long after his IEA appointment.)

When Littlewood was first appointed, I was not optimistic about the IEA, but then I heard him speak about his new job, and I became much more hopeful about the IEA’s future.  That optimism has not abated.

Hope that helps and is not too late.

Monday May 16 2016

Today I attended Deirdre McCloskey’s talk for the Adam Smith Institute.  I know what you’re thinking.  Okay, okay, photos, as per usual.  But: What did she say? Fine.  Go here, and you can find out.  What I can find no link to is any information about the event – when, where, and so on.  It’s all now gone.  Maybe it was never there in the first place.

But the Man from the Adam Smith Institute told me to send in some of my snaps, and these are the ones I sent them:

imageimageimageimageimageimageimageimageimageimage

McCloskey’s basic point was what is rapidly becoming the libertarian orthodoxy, to the effect that (a) the world started getting humungously rich in or around 1780 (Yaron Brook‘s preferred date for this is 1776 (to coincide with America starting and Smith’s Wealth of Nation’s getting published)), and (b) we did this.  Our enemies tried to stop us and they failed.  We know how to make poor people rich, and we’ve been doing it ever since.  Our enemies only know how to make rich people less rich and poor people more poor.  Bastards.

My recent favourite example of enrichment is a very tiny one offered at today’s talk by McCloskey, which is that you can now use your smartphone as a mirror.  Better yet, McCloskey said, before the talk she was giving, she spotted Steve Baker MP doing this exact thing with his smartphone, while perfecting his appearance prior to doing his MP socialising bit.

The reason I particularly like this is that I just recently learned about this trick myself, when I saw someone doing it, and took a photo of it:

If you photo someone looking in a mirror, they can see their face, but you can’t.  (Unless it’s a crap movie, in which case the audience sees the face and the person with the face doesn’t.  I know.  Ridiculous.  But this is truly what often happens.) But, if you photo someone using their smartphone as a mirror, both you and they can see their face.

Thus:

image

McCloskey’s point was that enrichment doesn’t only come in the form of more money, but also in the form of the ever more amazing things that you can buy with your money.  Like a phone that is also a NASA circa 1968 supercomputer.  And a face mirror.

Finally, here are a couple more photography-related photos.  On the left is the official photographer for the McCloskey talk:

imageimageimage

And on the right there is a photo which I also took at the venue for the McCloskey talk, which I will not name, because the people in charge of this place might then learn of this blog posting and see this picture and then who the hell knows what might happen?  Are you wondering what I am talking about?  Click on the picture and work it out.  I only realised what I had photoed after I had got home.

Saturday May 14 2016

Today I attended the Libertarian Home Benevolent Laissez-Faire Conference.  Here is the text of the opening speech by conference organiser Simon Gibbs.  And here is a selection of the photos I took, of the event and of the speakers:

imageimageimageimageimageimageimageimageimageimageimageimageimageimageimageimageimageimageimageimageimageimageimageimageimageimageimageimage

Conference programme here.

1.1: An attender.  1.2: The venue, very good, with a big side window looking out to a small basement level garden.  1.3: Syed Kamall.  1.4 and 2.1: Janina Lowisz and one of her slides.  2.2, 2.3 and 2.4: Julio Alejandro.  3.1: Simon Gibbs and Yaron Brook.  3.2: Brook.  3.3: Kyril and Rob helping with the books.  3.4: LH info, lit up by the afternoon sun through the window.  4.1: Anton Howes.  4.2: Howes and Brook.  4.3 and 4.4: Gibbs, Alejandro, Howes, Brook.

Thursday April 14 2016

Pyjama bottoms have a way of disintegrating.  And just lately I have been having other problems (I will say no more than that) with pyjama bottoms.  The night before last I had to wear short pants in bed, like an American sitcom actor just after having had sex, and last night I cranked up the hot water bottle.  It’s amazing what a difference just swapping proper length pyjama bottoms for the same thing but with no legs.

So the question was: laundrette, or Primark.  Wash the two remaining pyjama bottoms, one of which had gone missing, or: buy some more pyjamas at Primark.  I couldn’t face laundretting, so Primark it was.  Earlier this evening, I staggered forth to Oxford Street.

In the tube on the way, I grumbled to myself about how I would be obliged to purchase yet more pyjama tops, to add to the already absurd number of such garments that I already possess.

Instead I encountered this:

image

A pair of pyjama bottoms, as in two pyjama bottoms, and no pyjama tops.  I bought two large (L) and two extra large (XL).  The XL ones fit fine and I am wearing one of them now.  Extra large my arse!  Well, apparently so.

I feared that the merely large ones would be far too tight, but they’re okay.  I’m now wearing one of them.  A bit tight but okay, and the good news is that elastic expands when you wash it.

And all this for just twenty quid.  And no, I don’t feel bad about the terrible wages paid to the people who make such garments.  I remember winning this stupid argument way back in the seventies, when I was accused of keeping Hong Kongians poor by buying their cheap stuff.  What I was actually doing, as I knew at the time, was making them rich (which they now are), by bidding up the price of their labour.  And now I’m doing it again.

I tried to find these garments on the internet, but failed.  So I just did a photo.

Modern life is good in so many ways, but I really did not see this particular item of goodness coming.

I’ll add that the new Primark at the Centre Point end of Oxford Street, which I was sampling for the first time, was agreeably uncrowded, and generally less of a mad down-market scrimmage than the one near Marble Arch, at least whenever I’ve been there.

The above link gets you to a place that says it isn’t open yet, but it was open enough when I visited.  Maybe the fact that it was open but not yet Open explains why it was so quiet.  Maybe when these places officially Open, pandemonium rules from then on.

Thursday March 17 2016

Getting properly out and about again after my winter hibernation, as I did earlier this week to Victoria Park (it’s easier to scroll down past yesterday’s Gulf Stream posting than to follow those links), reminded me that there are other major viewing spots in London I have yet to check out.

Such as, for instance, this Big Thing:

image

I have photoed this Thing many times, but have yet to actually visit the Thing.

Yes it’s Anish Kapoor’s Big Olympic Thing.  Now that all the Olympic fuss has died down, and most of the people who fancied visiting this Thing have visited it, and they’ve finally finished making it as good a Thing as they can, getting into this Thing and up this Thing and to the top of this Thing may finally be a buyer’s market, rather than a hell of queueing and crowding and barging.  I tried the website, to see if I could buy a ticket remotely.  But as so often with me, I couldn’t make it work.  So, I will go there this afternoon, and see if I can buy some kind of ticket, from a person.  If that doesn’t work, then I think I recall seeing a phone number I could ring.  I also seem to recall the webiste mentioning an Old Git season ticket for an entire year that costs hardly more than a single visit.  That would be great.  I do love to go back to places, after I have looked at the first lot of photos and worked out what I was actually photoing.

Whether they will sell me a ticket face-to-face or not, I will still get to check out the fascist expanses of the Olympic Park, or whatever it is they call the big pointless spaces outside the Olympic Stadium.

Part of the top of which is visible in the above photo, which I took from the footbridge at Hackney Wick Overground Station, on my recent trip.

Thursday March 10 2016

I like to photo the covers of newspapers and magazines.  Such snaps can be very evocative, when looking back at them.

One of the more memorable of such snaps recently was this:

image

The whole Brexit argument seems to be turning into a clash of pessimisms.  Which would be more ghastly?  Britain staying in or Britain getting out? 

Here is a piece that argues that Brexit would be ghastly, for the EU.  As well as all the hoo-hah about refugees, there’s also the little matter of the EU economy collapsing.  If Brexit happens, so might that.

So, will the Remainiacs argue, come the Referendum, that we must stay in, to save EUrope?  Could be.  The argument will be: if we leave, that will wreck EUrope, and that will wreck Britain.

And the Leavers will say: well, if EUrope is a wreck waiting to happen, we’d do better to get out.  Whatever happens, the immediate future looks terrible.  If we get out, at least we could then look toward our own longer term future with a bit of optimism.  We will save ourselves by our exertions, and then EUrope by our example, bascially by turning EUrope back into Europe.  Brexit will be like Dunkirk.

There has for some time now, I think, been a breed of “national” politician – Cameron and Osborne are such – whose first loyalty is to the global elite and to such enterprises as the EU, rather than to their own mere countries.  They are not really our leaders anymore.  They are more like District Commissioners for The Empire.

Personally, I do not oppose The Empire just because it is an Empire.  I oppose The Empire, now, because I don’t think the Imperialists are running it very well.  And I favour Brexit now both because I think that, on balance, Brexit will be better for Britain, and because the Imperialists need a good kick up the bum.  More politely, I think these people should stop being so “anti-patriotic”.  They need to stop regarding patriotism as their enemy.

More exactly and less windily, the Imperialists also need to follow better financial policies.  I think they are more likely to do this if Britain competes with EUrope than if Britain is a province of EUrope.  And what might these policies be?  Well, the world needs competing currencies, both because the best of these will be quite good, and because they will stir the world’s fiat currencies into being better.  That’s more likely to happen if the world consists of a looser affiliation of semi-sovereign states than a tight Empire of provinces, ruled unchallengeably by Cameron, Osborne, and their gaggle of rich, powerful, and actually somewhat stupid, friends.

Tuesday January 05 2016

3D printing is not the replacement of factories by homes.  It is manufacturing in factories only more so.  Making stuff is not, as of now, getting less skilled.  It is getting more skilled ...:

Most ceramic 3D printing uses complex techniques to deposit layers of the material on top of each other, and as a result have to use materials with relatively low melting points. The techniques can also only be used to create fairly simple shapes.

But a team from HRL Laboratories in Malibu, California, has developed what they call a pre-ceramic resin, which they can 3D print much like regular polymers into complex shapes. The process, known as stereolithography, fuses a powder of silicon carbide ceramics using UV light. Once the basic shape is printed, it can be heat-treated at 1,800°F to turn the pre-ceramic resin into a regular ceramic object. In fact, this is the first time silicon carbide ceramics have ever been 3D printed.

… which is very good news for the rich world economies.

Says a commenter:

So 2016 opens with YAAI3DP (Yet Another Advance In 3D Printing.) and some point all these breakthroughs are going to add up and utterly transform manufacturing.

The way he then goes on to say that it will transform manufacturing is that we may eventually get stuff made whenever and wherever we want it made.  In homes and shopping malls, in other words.  Maybe eventually.  In the meantime, cleverer stuff is getting made in the same old places, and then transported to where it is needed.

When I transport blogged, one of the constant themes I found myself noticing was how people regularly thought that transport would be done away with, but it never was.  The main notion was that people would communicate so well that they’d never want to meet face-to-face.  Now, it is being speculated that stuff will be made so cleverly that it will be makable anywhere.  Maybe so, but that isn’t now the smart way to do it, and it probably never will be.

YAAI3DP
Matt Ridley on the Chinese economic miracle
How things like 3D printed blood vessels may be improving education in rich countries
Matt Ridley on Epicurus and Lucretius
New chairs
Peter Foster on Robert Owen
Moving speaker – unmoving listeners, video holder and books
Ed Smith on sporting maturity – Burns and Henriques collide – Secretariat and his jockey
Tim Worstall on “reserves”
Paul Johnson on what the young Mozart was up against
Amazon review of Inflation Matters
Why quota photos?
I said it twelve years ago
Pete Comley talking about inflation on Friday February 27th
Cheap long-haul flights coming soon
Scandinavia comes out on top according to the HDI …
Thoughts on habits and on changing incentives with the passing of time
Dominic Frisby on the Hype Cycle
How the internet is cheering up Art
Marginal Eurostar economics
At the Libertarian Home cost of living debate
Bill Bryson on the miracle of crop rotation
Bond car
ASI Boat Trip 4: Groups of posing people
ASI Boat Trip 3: Drink!
Cashing a cheque by photoing it
I need a new passport but just now passports are a problem
Ubernomics
Compact Cats buried under London’s poshest homes
How much does it cost to power up a mobile phone?
Anton Howes – James Lawson – Will Hamilton
Nothing from me here today
Well that’s a relief
Green screen blue screen
Sam Bowman on Bleeding Heart Libertarianism
Detlev Schlichter talking about Von Mises (and being videoed)
Big Things happening in the City
Happiness is still Gold Blend at only £3 instead of £4.50
Happiness is Gold Blend at only £3 instead of £4.50
Anton Howes at the Rose and Crown
Corrie Chipps pictures the Zimbabwe inflation
The next four Brian’s Last Fridays (including December 27)
Amazon pricing puzzle
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 …
Meow
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
Thrashing India
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
Bitcoin etc.?
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
Quota choke?
Cat news
Let us now trash infamous men
Why I prefer blogging to writing for a magazine
Wot inflationz?
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
Happy hundredth
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
Exploitation?
Tim Evans looking happy
Sneezing chat
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
Going global
Scrounging Englishmen and stories too good to check
Paul Marks on the financial crisis and on the badness of Obama
Under a hundred copies
Environmental
Why I vote against AGW
Quotes dump
Great speech by Kevin Dowd in Paris which should be available to listen to soon
Slumponomics
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
Fantasy budgets
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
Work photos
TARP stuff - and a trip to Sheffield
Do nothing?
Meme for the New Depression
Kevin Dowd says what should be done
Commenting about the Dowd lecture at Samizdata
London continues to build big
Kevin Dowd
Michael Jennings on shoring up the bad old economy versus building a good new one
What-iffing
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
It’s over
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
Chinese Friday?
Profundity and silliness
Banks
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
IPL-lag
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?
Filthy rich
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
The visitor
Jott
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
That’s it
Pauses - Indian accents - English names
To be controlled in our economic pursuits means to be dot dot dot controlled in everything
Some economics
“The basis is economic development”
Thoughts on habits and on killer apps