Brief musings on the market

The DJIA lost 3.57 percent today. Last Friday it lost 3.12 percent. This is nowhere near even the 20th worst day in the DJIA’s history—a 6.98 percent loss on September 29, 2008. But the past two trading days do represent the DJIA’s 19th and 20th worst daily point losses ever. Most economists think Greenspan’s Fed left […]

Discouraging recidivism

From Stuart Butler, writing at RealClearMarkets.com. Imagine if prisons faced a readmissions penalty. Let’s say that if an unusually high number of released inmates from a particular prison were convicted and sent back to prison within three years then the prison’s budget would be cut and the bonuses and salary increases of senior prison staff […]

It rests on faith

From Philip Giurlando’s review of Mein Kampf: This sad historical episode reveals an important point: that any moral system that rests on equal human dignity cannot flow from the scientific observations of biologists. In other words, universalist moral systems, like liberalism, socialism, or the United Nation Declaration of Human Rights (UDHR) rely on assumptions that […]

An educational outlook

I try to read First Trust’s Monday Morning Outlook every week. Today’s was especially good. Here’s a highlight: The good reason for slow economic growth is that government statisticians are having a hard time measuring true output. Productivity and GDP growth are not as slow as the official numbers say. For example, when people download free […]

Sick minds and capital flight

From Christopher Westley in today’s Mises Daily: Sick minds deemed the supply of death perfectly inelastic and therefore worthy of tax. But it’s not just people who die in Connecticut. Wealth does too, illustrating what happens when greed is unconstrained by market forces. Some writers might consider Connecticut’s economy something of a model worth emulating, […]