Brian Micklethwait's Blog
In which I continue to seek part time employment as the ruler of the world.Home
michael fallon on Russia unleashes tiger on China
Alastair on Santa's tired helpers
dodgy geezer on Matt Ridley on how technology leads science and how that means that the state need not fund science
michael fallon on Halloween buckets
Michael Hiteshew on Sign blocked by surveillance camera
Michael on Matt Ridley on how technology leads science and how that means that the state need not fund science
Simon Gibbs on My digital photos on his TV
Simon Gibbs on On the rights and wrongs of me posting bits from books (plus a bit about Rule Utilarianism)
Mark Rousell on Hot dog shadow selfie
Michael Jennings on On the rights and wrongs of me posting bits from books (plus a bit about Rule Utilarianism)
Most recent entries
- To Covent Garden (2): Rough roofs – smooth roof
- Christmas tree with scaffolding
- Santa’s tired helpers
- To Covent Garden (1): The twisty footbridge
- Trousers keyboard
- Cameras photoing the Wheel (in 2007)
- Was Guy’s Tower a key building in the architectural history of London?
- Photo-drone wars to come
- A link and a photo of a photographer
- Matt Ridley on how technology leads science and how that means that the state need not fund science
- Sign blocked by surveillance camera
- My digital photos on his TV
- ASI Christmas Party photos
- Photoing at the ASI party
- Quota roof clutter
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
As discussed in this earlier posting, here is a chunk of Frisby, from his book Bitcoin: The Future of Money? (pp. 197-201 – the chunk entitled “Beware the hype cycle"). And for the reasons stated in that earlier posting, this posting might rather suddenly disappear, so if you feel inclined to read it, do so now. And then when you have, buy the book and tell me that you have done this in the comments, because this might cheer up any passing authors or publishers:
There is a cycle that a new technology passes through as it goes from conception to widespread adoption. The research company Gartner has dubbed it the ‘hype cycle’. It has five phases: the technology trigger, the peak of inflated expectations, the trough of disappointment, the slope of enlightenment and the plateau of productivity.
In the first phase the new technology is invented. There is research and development and some early investment is found. The first products are brought to market. They are expensive and will need a lot of improvement, but they find some early users. The technology clearly has something special about it and people start getting excited. This is the ‘technology trigger’. The internet in the early 1990s is a good example.
As this excitement grows, we move into the second phase. The media start talking about this amazing new technology. Speculative money piles in. All sorts of new companies spring up to operate in this new sector. Many of them are just chasing hot money and have no real product to offer. They are sometimes fraudulent. This new technology is going to change the world. The possibilities are endless. We’re going to cure diseases. We’re going to solve energy problems. We’re going to build houses on the moon. This is the ‘peak of inflated expectations’. This was the internet in 2000.
But at some point, the needle of reality punctures the bubble of expectation, and we move into the third phase. Actually, this technology might not be quite as good as we thought it was; it’s going to take a lot of work to get it right and to make it succeed on a commercial scale. A great deal of not particularly rewarding hard work, time and investment lies ahead. Forget the ideas men – now we need the water-carriers. Suddenly, the excitement has gone.
Negative press starts to creep in. Now there are more sellers than buyers. Investment is harder to come by. Many companies start going bust. People are losing money. The hype cycle has reversed and we have descended into the ‘trough of disappointment.’ This was the internet between 2000 and 2003.
But now that the hot money has left, we can move into phase four. The incompetent or fraudulent companies have died. The sector has been purged. Most of those that remain are serious players. Investors now demand better practice and the survivors deliver it. They release the second and third generation products, and they work quite well. More and more people start to use the technology and it is finally finding mainstream adoption. This was the internet in 2004. It climbed the ‘Slope of Enlightenment’, the fourth phase of the hype cycle, and entered the ‘Plateau of Productivity’ - phase five - which is where the likes of Google, Amazon and eBay are today.
Of course, cycles like this are arbitrary. Reality is never quite so simple. But it’s easy to make the case that crypto-currencies in late 2013 reached a ‘peak of inflated expectations’.
Perhaps it was not the. It wasn’t Bitcoin’s dotcom 2000 moment – just a peak on a larger journey up. Many Bitcoin companies, for example, are not even listed on the stock market. Greater manias could lie ahead.
But it’s also easy to make the case that it ws the peak of inflated expectations. In the space of three or four years, Bitcoin went from an understated mention on an obscure mailing list to declarations that it was not only going to become the preferred money system of the world, but also the usurper of the existing world order. At $1,000 a coin, some early adopters had made a million times their original investment. Speculators marvelled at the colossal amount of money they were making. The media were crazy for it. Bitcoin was discussed all over television.
It caught the imagination of the left, the right and the in-between. Computer boffins marvelled at the impossibly resilient code. Economists and libertarians marvelled at the politics of a money without government or border. There were early adopters, from the tech savvy to the black markets (black markets are usually quick to embrace new technology - pornography was the first business sector to actually make money on the internet, for example).
Every Tom, Dick and Harry you met under the age of 30 with an interest in IT was involved in some Bircoin start-up or other. Either that or he was designing some new alt currency - some altcoins were rising at over a thousand per cent per day. ‘Banks, governments, they’re irrelevant now,’ these upstarts declared.
I suggest that in late 2013 we hit the peak of the hype cycle - the peak of inflated expectations. Now Bitcoin is somewhere in the ‘trough of disillusionment,’ just like the internet in 2001. The price has fallen. There have been thefts. Some of the companies involved have gone bankrupt.
The challenge now is for all those start-ups to make their product or service work. They have to take Bitcoin from a great idea and a technology that works to something with much wider ‘real world’ use. They have to find investment and get more and more people to start using the coins. This is a long process.
There are many who will disagree with this interpretation. And, with investment, it is dangerous to have rigid opinions – I reserve the right to change my mind as events unfold.
This morning I did a rather negative would-be posting about some Art, Art which had at first rather appealed to me but which, upon further consideration, I decided I did not much like or admire.
But then I realised that my rule for stuff that other people are doing with their own time and money and others are buying and enjoying with their own money and time is for me just to walk away. Why moan? The world is full of stuff I don’t much care for. So long as I don’t get taxed to pay for it, or made to pay attention to it against my will, what on earth is the point of me seeking it out and bitching about it?
For me, this is one of the great benefits that has been brought about by the internet. In the age of the mass media, you had this whole tribe of professional hacks who, day after day, week after week, were made to pay attention to things which quite often they would rather not have been paying attention to. Inevitably, an air of irritation, even hatred, entered the souls and writings of these people. The subtext, and often the text, was: I wouldn’t have picked this in the first place. Only the Culture vultures who really were allowed to pick whatever cultural prey they were inclined to descend upon were able to communicate genuine pleasure, because they were the only Culture vultures who truly felt pleasure. The rest of Culture writing was a mixture of grudging reportage and grumbling, with the occasional cheer when some hack found himself not clock watching, not trying to think of what the hell nice things he could say about something he considered nasty, or worse, just … shrug.
But now a tidal wave of amateurs has crashed into the culture-writing game and it has become, well, a game. It has become fun. We bloggers and twitterers pick on stuff we like, and say: hey, this is cool, this is fun, this is good, this is something I really enjoyed immersing myself in. Maybe you’ll like it too. Commenters and other twitterers then say things like: well, I prefer this, or this, or that or that. If, on the other hand, you said you didn’t like something or other, the response from other www-chatterers is, not unnaturally, just to say: well then why the rude word do you waste your time moaning about it? Walk away. If what you are moaning about is some Big Thing, heavily promoted, made much of, that everyone else seems to be paying attention to, fair enough, you are warning the rest of us off it. But if it is just some little thing you found on the internet and you don’t like it, so rude-word-ing what?
For as long as there was just the one big Culture, that the media people agreed or had to agree was It, then all who wanted to be Cultural had to pay attention to that Culture, whether they liked It or not. It was their duty, just as it was the duty of professional Culture-writers to write about It, to pay attention to It. There was an air of joylessness and obligation about It all, like a queue in a passport office.
Favourite-blogger-of-mine Mick Hartley has written from time to time about the way that Art is now turning into fairground entertainment, often implying that this is a bad thing. I also notice this when I visit London’s South Bank Arts enclave, which now has a much more “visitor attraction” feel to it than it used to have. Hartley does do quite a lot of moaning, but mostly the Cultural stuff he does now is drawing attention to something he likes, thinks deserves to be more noticed, more enjoyed, more celebrated. His posting today is a perfect example of this. It’s not Art, it’s street art. Street art is fun, it appeals to people, and it is also where a lot of the official Art action is now, because the Artists know that these street people are upstaging them.
Political money is now tighter than it was a decade and more ago, and if the Arts fraternity want yet more money, they must try appealing to their audiences rather than baffling them or insulting them. They must now try to give pleasure, the way they tended not to in the twentieth century.
But there is more than economics going on here. After all, there is still a hell of a lot of Official Money being competed for. There is still a great big Culture out there, still being paid for, if not enjoyed. No, the other difference is that there is also that damned internet out there, where regular punters get to say what they really think about it all. If they are being got at by Culture, they can now get back at it, by saying: bollocks, and: I prefer this, or this, or that or that. It’s a different world.
And you’ll never know what it was I just moaning about. I will instead look for other things, that I actually like.
The sort of place I will be looking will be at places like Colossal, which, by the way, is where I found the thing that I liked at first but then didn’t like, that got me started on all this. I don’t like everything at Colossal by any means. But I like a lot of it.
Or, maybe this is really a posting that is not really about Art as such, more about getting old, as so many postings here are. As you get old, you stop worrying about what Art is, if you are one of those people who ever did worry. You just stop paying attention to Art, as in: Where Art Is Going. It will go where it goes, and you go where you want to go. It’s not the world getting happier. It’s not Art getting more fun. It’s just you. It’s just me.
Ah blogging. You can change your mind in mid posting, or even right at the end if you feel inclined. What’s that you say? You disapprove. I must make up my mind. Must I? I tell you what, you go away and read something else, something you’d prefer. This was just a bit of fun, and for you it wasn’t. Forget about it.
Something a lot of people don’t get about rather small and incremental improvements is that even if they don’t mean anything to you (by which I mean to them) they can definitely mean something to someone, and potentially a great deal, and to quite a lot of someones. My understanding of economics is that this is one of the most basic ideas embodied in it. (The notion even has its own intellectual revolution: the Marginal Revolution.)
A price increase of around fifty pence for something costing, say, thirty quid may not seem much, and it may not change your behaviour. But for some people this will be the proverbial straw that changes a light bulb to parsnips, the difference that makes all the difference.
Consider these slightly new, slightly snazzier trains, that have been announced by Eurostar, to replace their existing trains, next year. Their front ends, so we are now being told, will look like this:
The Evening Standard (where I found all these pictures) tells us that these new trains will slash the journey time from London to Paris, but it neglects to reveal by how much. Google google. Here we go. The Daily Mail supplies the answer to this obvious question. It turns out that the journey time from London to Paris will be “slashed” (their word too) by … fifteen minutes.
But this posting is not (see above) a rant about how little difference this will make to most people. It is a rant about how much difference it will make to some people. For some people this fifteen minute reduction will make the difference between being able to go to Paris in the morning, get the job done, and then return to London that same day in time to read a story to a daughter. Or … not. Connections just missed will turn into connections just made, and fifteen minutes (doubled for the two journeys) will stretch out into something more like two hours.
Not for most people. Just for some people. And when you consider how many people might or might not choose to use Eurostar, depending on considerations like the above, that “some” people turns out to be really quite a lot of people.
In short, fifteen minutes does make a difference.
Or consider another small improvement that these new trains will involve, this time an improvement measured not in minutes but in inches.
Here is how the new trains will look on the inside:
Now that may not seem very interesting. But it interests me greatly. It’s been a while since I travelled on Eurostar, but my abiding memory is of how small and cramped and dreary the interior of the carriage was. For such a supposedly twenty first century experience, the whole thing had a very twentieth century feel to it, in a bad way. The above picture immediately makes me think that these new trains will be a significantly more spacious and less soul-destroying experience than the old ones, the old ones that I will still be partaking of when I journey to France and back, just after Christmas.
Judging by this photo ...:
… it would appear that they have done to the design of the Eurostar what they have also been doing to some of the trains in the London Underground. These new London tube trains now bulge outwards, over the platforms. Not by much, but by just a bit, just enough to make a real difference to the inside.
A few days ago, I overheard a conversation between some out-of-towners who were enthusing about the new and wider tube trains that were recently introduced on London’s Circle Line. They were rhapsodising. It was like listening to the scripted pseudo-public babbling away on a TV advert, so delighted were these truly regular members of the public about the new train that they and I were travelling on. And I agree with them. Whenever a train that I am awaiting emerges from its tunnel and reveals itself to be one of these new and slightly wider trains, my spirits are lifted.
And that was just inside a tube train. When it comes to Eurostar, we are talking about two hours. Two hours stuck in a dreary little tube, or in a rather less dreary, rather less constricted sort of tube. That is quite a difference. I can easily imagine, when some future decision about a cross-Channel journey presents itself to me, that these extra few inches ("cramped" is all about inches) could be the difference that will be all the difference, to me. At the very least, I will try to give the new carriages at least one try, when they do finally appear.
Earlier this evening, I attended this gathering. I took a ton of photos, of which I choose this one to show you:
I choose that photo not because it is any great shakes as a photo, but because it focuses (insofar as it does focus) on what was in many ways the most impressive thing about this event, namely the number and quality of those who attended. In this respect, the evening reminded me of those big Liberty League gatherings that happen earlier in the year. Simon Gibbs and his helpers put in a huge effort to make this occasion work well, and to get a decent turnout of intelligent, paying customers.
Don’t get me wrong, the speakers were numerous and articulate, and all admirably concise, which was necessary given how many of them there were. A lot of ground was covered. A lot of food for thought was served up. If there was a big winner issue, so to speak, that best explains how much harder it has recently got to make ends meet, it was probably the cost of housing. There was general agreement that planning regulations need to be relaxed, although also general pessimism about the politics of accomplishing that. Also making a strong showing were energy costs, and the heavy and rising taxes on petrol and drink and tobacco.
But you can have all the speakers up front that you like. If enough aren’t there to listen, then your event falls very flat. This one was the opposite of that.
I’ve been reading Bryson’s At Home: A Short History of Private Life, and very entertaining and informative it is too. Strangely, one of the best things about it for me was that he explained, briefly and persuasively, both the rise to global stardom and the fall from global stardom of British agriculture. The rise was a lot to do with the idea of crop rotation. I remember vaguely being told about this in a prep school history class, but although I did remember the phrase “crop rotation”, I didn’t care about it or about what it made possible.
Here is Bryson’s description of this key discovery:
The discovery was merely this: land didn’t have to be rested regularly to retain its fertility. It was not the most scinitillatingof insights, but it changed the world.
Traditionally, most English farmland was divided into long strips called furlongs and each furlong was left fallow for one season in every three - sometimes one season in two - to recover its ability to produce healthy crops. This meant that in any year at least one-third of farmland stood idle. In consequence, there wasn’t sufficient feed to keep large numbers of animals alive through the winter, so landowners had no choice but to slaughter most of their stock each autumn and face a long, lean period till spring.
Then English farmers discovered something that Dutch farmers had known for a long time: if turnips, clover or one or two other suitable crops were sown on the idle fields, they miraculously refreshed the soil and produced a bounty of winter fodder into the bargain. It was the infusion of nitrogen that did it, though no one would understand that for nearly two hundred years. What was understood, and very much appreciated, was that it transformed agricultural fortunes dramatically. Moreover, because more animals lived through the winter, they produced heaps of additional manure, and these glorious, gratis ploppings enriched the soil even further.
It is hard to exaggerate what a miracle all this seemed. Before the eighteenth century, agriculture in Britain lurched from crisis to crisis. An academic named W. G. Hoskins calculated (in 1964) that between 1480 and 1700, one harvest in four was bad, and almost one in five was catastrophically bad. Now, thanks to the simple expedient of crop rotation, agriculture was able to settle into a continuous, more or less reliable prosperity. It was this long golden age that gave so much of the countryside the air of prosperous comeliness it enjoys still today, ...
The fall of British agriculture was all mixed up with refrigeration, which enabled the wide open spaces of the late nineteenth century world to make masses of food and to transport it to hungry urban mouths everywhere before it went bad. Prices fell below what the farmers of Britain (where there were no wide open spaces by global standards) could match.
The economics of car ownership is interesting. On the face of it, I might be the sort of person who would get a really small car (even if not this exact one). But the way I (and many others?) see it is: If I go to the bother of getting a car, and finding somewhere to park it, and a way of insuring it, and of protecting it from burglars and vandals, I might as well spend a bit more and get a proper car. You either buy a car, of the sort that can do all the things proper cars do, like transport another four people, transport bits of furniture, drive to Scotland or Paris or some such place, impress rather than amuse friends and enemies, and so forth. Or, you don’t.
You don’t buy a bit of car.
The only exception is if your entire country has only just started buying cars, in which case even a bit of car is worth having. Especially if, for the time being, that’s all you can get
The key moment for me on that boat trip came near the beginning, when Eamonn Butler, Joint Head Person of the Adam Smith Institute asked me to send in any good photos that I took.
Until that moment, I had not been sure whether photography was really tolerated, let alone encouraged. But I took that as an invite to snap away all evening. (It wasn’t that really, but that’s how I chose to interpret it.)
The bread-and-butter shot when photoing occasions like this one is the posed group. People in groups, who are friends, or who are maybe becoming friends, and who know that they are being photographed, are duly photographed, resulting in pictures like most of these ones:
Photos 1.1, 2.3 and 4.2 don’t quite fit the posed group template, because here the people in the shot aren’t posing for it, merely being photoed. But the message is much the same. Here are some attractive, intelligent, companionable young people, having a good time in each other’s company. They believe in libertarianism and free markets, and are going to make that count for something in the years and decades to come. Socially isolated human atoms they are not.
3.1 is also a bit of a departure from the norm, but you want a bit of craziness at such events. If absolutely everyone is being nice and polite and well behaved, then it ain’t a proper party. Once again, Mr Arm Tattoo (the previous posting in this series featured that same Arm getting itself a drink) contributes a bit of quirkiness and danger to the event. When I was a kid, only self-declared professional criminals had tattoos like that, or so I was raised to believe. At best, people who worked at fair grounds. Those days are now long gone.
A while back, I asked Madsen Pirie how it was that the Adam Smith Institute had been so successful in getting young people interested in libertarianism, free markets, and so on. Simple, he replied. Have a party, with free drink. That gets them to come. Start the party by saying that libertarianism and the free market and so on are great but get that over with quickly, and then serve the drink. That’s it? That’s it. Well, there is a bit more to it than that. The message may be brief on the night, but it needs to be good and it has to be backed up during the day with a mass of sober activity and verbiage. But, ignore the free drink and you are not understanding the ASI.
This was certainly the formula for this Boat Trip, as you can see:
When I first got there, I chatted with ASI Junior Boss Sam Bowman, and I think I mentioned this give-them-the-message-and-then-fill-’em-up doctrine. Sam then talked about how the ASI gets ideological bang for its alcoholic buck by buying its own good but cheap drink - good but cheap champagne on this particular evening - in bulk (that being why it’s cheap), and bringing it to events like this. Which means that lugging big crates of drink around London, from the ASI office to wherever the latest event is is a big part of the life of an ASIer. Serving alcohol is central to their entire way of going about things. This is not some sort of afterthought. Alcohol is to the ASI almost what petrol is to a car.
Drink also makes for good photos, I think. (The ASI used the one of the table full of glasses, with the tattooed arm.) Nothing says jollification to come like a table full of full glasses, especially if the sun is shining all over them. And once the punters get their hands on the bubbly, that makes for more good photos, because the bubbles make automatic focussing work so very well.
Cashing a cheque by photoing it
I need a new passport but just now passports are a problem
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 …
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