Audio Clips

21 June 2010

Trade Benefits Both Parties

Sheldon Richman wrote an article for The Freeman this month and I found one of the quotes he included was a great defense of free trade.
In general we may say that whatever is capable of procuring any advantage, even a frivolous pleasure, is useful. . . . [T]he measure of the utility of a thing, real or supposed, is the vivacity with which it is generally desired. . . . Now, how are we to fix the degrees of a thing so inappreciable as the vivacity of our desires? We have, however, a very sure manner of arriving at it. It is to observe the sacrifices to which these desires determine us. . . . [A]n exchange is a transaction in which the two contracting parties both gain. Whenever I make an exchange freely, and without constraint, it is because I desire the thing I receive more than that I give; and, on the contrary, he with whom I bargain desires what I offer more than that which he renders me.
Those who believe that trade is a zero-sum game seem blind to the fact that the gentleman who buys an iPad, for example, finds that iPad to be worth more to him than the $499 it costs him to buy it. To Apple, that $499 is more valuable than the iPad they are selling. Both parties win.

Planned Parenthood Can't Account for about $1.7 Billion

A new Washington Times article highlights an audit of Planned Parenthood that discovered that between 2002 and 2008 Planned Parenthood received about $2.3 billion. However, they are only able to account for $657 million in expenditures. This can't possibly surprise anyone, can it? A government funded organization that can't account for two-thirds of their income? I'm surprised it was only two-thirds.

20 June 2010

The Myth of the Model

Max Borders has written a great article in the June issue of The Freeman about the problem with economic models. One of the main problems I have with Keynsians is their religious faith in their ability to model the economy. The Austrian economists would call this the height of arrogance to believe that an academic, or group of academics, can possibly know all inputs in the ecosystem that is the economy. Incidentally, that's also the main concern I have with climate modeling. Academics who attempt to model complex mechanisms involving thousands of inputs are not as smart as they would like you to believe.

18 June 2010

Drug Raids, Should We Be Pursuing a Drug War?

I would really like to hear your opinion on whether or not we should prosecute a drug war.

16 June 2010

My Man-Crush on Gov. Christie Continues

Governor Christie is so clear-spoken about our responsibility as citizens and parents. God bless him!

07 June 2010

And Now For Something Completely Different

Some Perspective on the Gulf Spill

Discovery News published an article last week with a little perspective on the Gulf Oil spill. I would really encourage you to go read it and digg it so others notice it. Here's the link.

Gulf Oil Spill Not the Biggest Ever