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Category Archives: Game Theory
Stock market near all time high…so is money supply
(Freakonomics) U.S. stock markets* are flirting with all-time highs (it may happen today) but I am hearing and reading very little about it. Why is that? I can think of a few possible reasons, and am eager to hear yours. … Continue reading
2007-08 Crisis, Austrian School, Budget Deficit, Bureaucracy, Capitalism, Competition, Complexity, Currency, Current Events, Economic Policy, Economic Theory, Free Market, Frontier Thesis, Game Theory, Inflation, Interdependency, Motivation, National Debt, Taxes, Wealth, Welfare Statism, Zero-sum
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What if money didn’t matter?
How do you like to spend your life? What do you desire? what if money didn’t matter? What if money was no object? Alan Watts explores the possibilities. Put frankly as it is, it makes no sense that folks should … Continue reading
Behavioral Economics, Bureaucracy, Closed System, Competition, Complexity, Currency, Economic Theory, Free Market, Game Theory, Inspiration, Interdependency, Perpetuity, Psychology, Rational Choice Theory, Self-Government, Self-Reliance, Self-Rule, Self-Sufficiency, Sociology, Solutions, Specialism, Trade, Wealth, Zero-sum
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What to do in a divided nation?
From the Introduction of the book: During the run-up to the mid-term election in 2010, as it became apparent that scores of Democrats would be replaced by a troop of Republican ‘Tea Party’ candidates, a bystander was almost guaranteed to … Continue reading
Autarchy, Bureaucracy, Capitalism, Closed System, Competition, Complexity, Current Events, Economic Theory, Free Land, Free Market, Frontier Thesis, Game Theory, Interdependency, Keynesianism, Marxism, Perpetuity, Political Theory, Polycentrism, Self-Government, Self-Reliance, Self-Rule, Self-Sufficiency, Sociology, Welfare Statism, Zero-sum
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When the law contradicts what most people regard as moral and proper, they will break the law whether the law is enacted in the name of a noble ideal such as equality or in the naked interest of one group at the expense of another.
Milton Friedman, Free to Choose.
Autarchy, Bureaucracy, Capitalism, Chicago School, Closed System, Competition, Complexity, Economic Theory, Free Market, Game Theory, Influences, Inspiration, Interdependency, Keynesianism, Legal Theory, Marxism, Motivation, Notable Quotables, Political Theory, Polycentrism, Psychology, Rational Choice Theory, Self-Government, Self-Reliance, Self-Rule, Self-Sufficiency, Sociology, Solutions, Systems Theory, Welfare Statism, Zero-sum
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Are we advancing technologically? Economically?
PETER THIEL: But I think that when you look at this question of how much technological progress has been happening, we get into all these complicated measurement issues. The one that I cite as the big data point is that … Continue reading
Austrian School, Autarchy, Bureaucracy, Capitalism, Closed System, Competition, Complexity, Consumerism, Culture Divide, Currency, Current Events, Division of Labor, Economic Policy, Economic Theory, Education, Euro Crisis, Free Land, Free Market, Frontier Thesis, Game Theory, Inflation, Inspiration, Interdependency, Keynesianism, Legal Theory, Marxism, Motivation, National Debt, Perpetuity, Political Theory, Polycentrism, Poverty, Self-Government, Self-Reliance, Self-Rule, Self-Sufficiency, Solutions, Specialism, Systems Theory, Technology, Trade, Wealth, Welfare Statism, Zero-sum
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The Prisoner’s Dilemma redux
(Freakonomics) Several years ago, Felix Oberholzer-Gee, Joel Waldfogel and Matthew W. White, published a fascinating empirical article about the prisoner’s dilemma game embedded in the short-lived U.S. game show “Friend or Foe.” Their core findings: Using data from two seasons … Continue reading
Is the modern political economy a zero-sum game?
In Part III of Juggernaut, I show how the use of government as a wealth-transferring system necessarily exasperates competition in the economy and creates what can best be described as a zero-sum game. The zero-sum game is, as it would … Continue reading
Are law and order possible without government?
Part One of a series of films exploring a society where there is law and order, but no government. This part introduces the definitions of law and government, illustrating the concepts using a simple desert-island scenario.
Austrian School, Autarchy, Capitalism, Closed System, Competition, Complexity, Free Land, Free Market, Frontier Thesis, Game Theory, Inspiration, Interdependency, Legal Theory, Political Theory, Polycentrism, Public Choice Theory, Self-Government, Self-Rule, Solutions, Specialism, Systems Theory, Trade, Welfare Statism
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Is the government an agreement between the people, or is it a coercive force that dictates what the people do?
This question is at the heart of the great debate: Is the government an agreement between the people, or is it a coercive force that dictates what the people do? In other words, is government simply common ground that everyone … Continue reading
Austrian School, Autarchy, Behavioral Economics, Closed System, Competition, Complexity, Culture Divide, Current Events, Free Market, Frontier Thesis, Game Theory, Interdependency, Keynesianism, Legal Theory, Motivation, Political Theory, Polycentrism, Public Choice Theory, Self-Government, Self-Reliance, Self-Rule, Self-Sufficiency, Systems Theory, Trade, Welfare Statism
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Signs of a new de-urbanization?
After the fall of the Roman Empire in the 5th century, a great de-urbanization took place when city dwellers realized that the centralized system was unreliable and even dangerous. Smaller, local bands arose to meet the needs formerly promised by … Continue reading
2007-08 Crisis, Autarchy, Budget Deficit, Bureaucracy, Capitalism, Closed System, Competition, Current Events, Debt Ceiling, Distributism, Division of Labor, Ecology, Economic Theory, Federal Budget, Free Land, Free Market, Frontier Thesis, Game Theory, Inspiration, Interdependency, Legal Theory, National Debt, Political Theory, Polycentrism, Poverty, Rational Choice Theory, Self-Government, Self-Reliance, Self-Rule, Self-Sufficiency, Simplicity, Solutions, Specialism, Systems Theory, Trade, Wealth, Zero-sum
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Direct democracy, kind of
We The People is Live!Welcome to We the People on WhiteHouse.gov. This tool provides you with a new way to petition the Obama Administration to take action on a range of important issues facing our country. If a petition gets … Continue reading
Sustainable development and the tragedy of commons
Stockholm whiteboard seminars: Nobel Prize-winner Elinor Ostrom explains how people can use natural resources in a sustainable way based on the diversity that exists in the world. Succinct brilliance.
Closed System, Competition, Complexity, Current Events, Distributism, Ecology, Economic Theory, Free Land, Frontier Thesis, Game Theory, Indiana School, Influences, Interdependency, Motivation, Perpetuity, Political Theory, Polycentrism, Public Choice Theory, Self-Government, Self-Rule, Solutions, Systems Theory, Zero-sum
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Is greater state sovereignty the last hope?
(The Daily Bell) Just following Congress, the 2012 presidential campaign and the inability of citizens to influence government policy makes it clear to every American how broken the US political system has become. A few powerful interests run the entire … Continue reading
Why would people want to raise taxes but not be willing to donate to the treasury?
Washington — Two dozen “patriotic millionaires” traveled to the Capitol on Wednesday to demand that Congress raise taxes on wealthy Americans. The Daily Caller attended their press conference with an iPad, which displayed the Treasury Department’s donation page, to find … Continue reading
Zero-sum economics: the core issue of the great debate
Is the economy a zero-sum game? John Mackey, co-founder and co-CEO of Whole Foods Market says that it isn’t a zero-sum game. (WSJ.com) Business is not a zero-sum game struggling over a fixed pie. Instead it grows and makes the … Continue reading
Austrian School, Capitalism, Chicago School, Closed System, Competition, Complexity, Culture Divide, Distributism, Division of Labor, Economic Policy, Economic Theory, Free Land, Free Market, Game Theory, Interdependency, Keynesianism, Marxism, Political Theory, Poverty, Self-Government, Self-Reliance, Self-Rule, Self-Sufficiency, Sociology, Systems Theory, Trade, Wealth, Welfare Statism, Zero-sum
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Bank Transfer Day is November 5
A group on Facebook has announced that Nov. 5th is Bank Transfer Day. The idea is simple: take your money out of the sprawling, corporate monstrosities called banks and move it to localized, community oriented credit unions or small banks. … Continue reading
2007-08 Crisis, Austrian School, Autarchy, Closed System, Competition, Complexity, Culture Divide, Current Events, Economic Theory, Frontier Thesis, Game Theory, Inflation, Inspiration, Interdependency, Motivation, Polycentrism, Resources, Self-Government, Self-Reliance, Self-Rule, Self-Sufficiency, Simplicity, Solutions, Specialism, Systems Theory, Trade, Wealth
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Occupy Wall Street demands are vaguely familiar
The protestors on Wall Street known as ‘Occupy Wall Street’ have recently been identified by a list of demands evidently posted by one of their followers. Though there are no official demands by the group, the list does serve to … Continue reading
Closed System, Competition, Complexity, Culture Divide, Current Events, Debt Ceiling, Economic Policy, Economic Theory, Federal Budget, Game Theory, Inflation, Interdependency, Keynesianism, Legal Theory, Marxism, Motivation, National Debt, Notable Quotables, Perpetuity, Political Theory, Poverty, Systems Theory, Wealth, Zero-sum
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Do the poor get poorer?
People often say that “the rich are getting richer while the poor are getting poorer.” Economics professor Steve Horwitz explains why in the United States, this characterization is largely a myth. Real income levels of the poorest 20 percent of … Continue reading
21st century Chinatown?
Those who remember the 1974 classic film Chinatown will find this story eerily familiar. (ReasonTV) The Antelope Valley is a vast patch of desert on the outskirts of Los Angeles County, and a segment of the few rugged individualists who … Continue reading
The virtues of competition
Orson Welles as Harry Lime in the film adaptation of Graham Greene’s Third Man. Don’t be so gloomy. After all it’s not that awful. Like the fella says, in Italy for 30 years under the Borgias they had warfare, terror, … Continue reading