The Stupendous, Amazing PRICE TAG! (3:20) . . . Econ Prof Donald Boudreaux of George Mason University explains how a single price (and our response to it) contains all the necessary information for accurately determining a product or service’s value and efficiently coordinating its distribution when there’s a shortage or surplus. No centralized decision maker, just a price tag.
Think-Tank Logic . . . It’s circular says James Bovard of Mises Institute. Through think tanks, defense contractors recommend defense contracts, and Washington listens. Example: Foundation for Defense of Democracies “researches” the benefits of weapons programs. They recommend a LOT of weapons programs. A large portion of their funding comes from Boeing, Lockheed, and Northrup Grumman. Business as usual in D.C.
California Dreamin (3:00) . . . Chapman U professor Joel Kotkin says that’s exactly what Californians have been doing about their water for the last 40 years. Between businesses and politicians fixating on the short term and environmentalists capitalizing on their opponents’ heads buried in the sand, the water crisis was inevitable. It was also entirely avoidable.