September 28, 2009
XKCD Learn-a-Long

1. Say it with me: transaction costs! One more time!

2. I'm speaking on a faculty panel on "What's Wrong With the World?" tomorrow night as part of "Think Global, Act Local" week. I hope this doesn't happen, but I probably wouldn't be able to keep a straight face if it does.

3. This has "econ 339 research paper" written all over it.

Posted by Art Carden at 03:56 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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