What have US healthcare, British railways, the shipwreck of Carillion plc, and the F-35 got in common, and why should you care? Well…none of them work terribly well, they all cost vastly more than expected, and nobody can put their finger on why. Cash seems to leak out of them by a thousand cuts, without…Read More In The Eternal Inferno, Fiends Torment Ronald Coase With The Fate Of His Ideas
From Marwood Lennox’s post: Someone reading a draft has pointed out that this proposal is to make the whole of the UK into Northern Ireland. Just as well then the DUP are now close to the government, they are the experts in building up a bureaucracy to its advantage using other people’s money You know,…Read More GFI The GFA
This, rather good, post from Simon Wren-Lewis brings up what has become a trope – the distinction between people who are “pro-market” and those who are “merely pro-business”. The idea is that some people believe that economic problems are best solved through the market mechanism, while some other people pretend to believe this but actually…Read More Pro-market, pro-business, or just pro-wealth?
I’ve had various feedback about the Two Cultures 2017: Merit vs. Brilliance post – ranging from “Yes…yes…now I see it” to “How dare you call these people brilliant?!” However, over Christmas, events gave us something better than another wall of text. They gave us a visceral object lesson, like so: Langan was kidnapped by the…Read More Merit vs. Brilliance: A Brutal Demonstration