Man has only one tool to fight error: reason.
— Ludwig von Mises
1. The Uruguayan government is toying with the idea of selling marijuana at $1/g. Why this case would be any different from, say, the scalping “problem” associated with under-priced concert tickets, I don’t know.
2. Economies of scale and Britain’s industrialization.
3. Why has Somali oceanic piracy died off? Private security (I linked to another story earlier this year). The article mentions that “pirates” — people looking for ransom money — have begun to look for inland targets.
4. Matt McCaffrey reviews a recently published book on Edwin Chadwick, a 19th century English “utilitarian social reformer” whose economic insights are remarkably parallel to those of various modern economists.
5. “18 signs you’re reading a bad criticism of economics.” Unlearningecon is not impressed. I want to make my own list now.