Elephantstrunk

This Crooked Timber post reminds me of a pet theory, under-googled and probably unoriginal where correct, that the virtues of markets get badly misunderstood.
It goes as follows:
Markets are intrinsically inefficient. For there to be competition there is very likely to be excess capacity and significant effort devoted to suboptimal solutions. It seems therefore that for […]

Georgism is an appealing idea but it looks very different if you apply the thinking to nations than it does if you apply it to individuals.
Would proponents of a land tax for individuals also countenance such a levy on Venezualan oil revenues? The latter seems less intuitively appealing but willingness to intervene in oil rich […]