October 28, 2008
If I Had A Trillion Dollars: War and Opportunity Cost

Here (HT: Tara Clark).

NB: it's also a useful exercise in the importance of social networks and social entrepreneurship. I got the link via a Facebook link from a student at the IHS "Liberty and Society" Seminar I taught at over the summer.

Posted by Art Carden at 05:45 PM in Economics

The statesman who should attempt to direct private people in what manner they ought to employ their capitals would not only load himself with a most unnecessary attention, but assume an authority which could safely be trusted, not only to no single person, but to no council or senate whatever, and which would nowhere be so dangerous as in the hands of a man who had folly and presumption enough to fancy himself fit to exercise it. -Adam Smith

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