If I Had More Time
By Arnold Kling
I would comment more on the following links:
WSJ blog post about a warning that the average ratio of government debt to GDP could top 100 percent in Europe in the near future. That’s ok. They can fix the problem by introducing a VAT. Oh, wait…
Speaking of fiscal messes, accrual accounting would show that our deficits are even higher. My guess is that this would be true in Europe as well.
Bill Woolsey is trying to sort out the controversy of Austrian business cycle theory. Just skimming his long post, it looks to me like he is focused on aggregates and equilibrium, in which case he is not talking about Recalculation.
Brandon Fuller of Charter Cities talks about advantages of agglomeration. My guess is that it easier for those advantages to emerge gradually then to suddenly create a big city where they appear. So I think this is a problem for Charter Cities folks. I also think it’s a problem for Seasteaders.
In fact, I would be prepared to argue that the economic advantages of urban agglomeration are the biggest obstacle to libertarian reforms of any sort. The advantages of urban agglomeration weaken the “exit” option for citizens, which in turn gives government officals leeway to conduct all sorts of abuses. If Jews in Europe did not want to leave behind what was familiar in the 1930’s in the face of Nazism, then most people are going to put up with a lot of government stupidity and over-reach here.