Devin (do read the whole thing and comment there):
I would not consider this essay realistic. But when you have eliminated the impossible, all that’s left is the highly improbable. If the results of the Reagan Revolution, Contract with America, or “Yes we can!” movement prove anything, it’s that the American political system is unreformable. The political system has a terminal case of entropy decay. When termites have bored through the structural beams on your house, incremental improvements are impossible. When real change comes it will be sudden, discontinuous, and system-wide. This is not a vision for incremental improvement, but rather a vision for a brand new, brick house that we can all move to once we wake up and realize that our house is rotting.
Others try to imitate the sciences and call themselves “social scientists.” The best imitators of scientists are the economists. Among social scientists they rank highest in rigor, which means in mathematics. They also rank highest in boastful pretension, and you can lose more money listening to them than by trying to read books in sociology. Just as Gender Studies taints the whole university with its sexless fantasies, so economists infect their neighbors with the imitation science they peddle. (Game theorists, I’m talking about you.)
You can now read Nock’s Theory of Education in the United States in epub. He was writing about the education bubble 90 years ago.
So, the monetary base has tripled.
According to Milton Friedman, the price level will therefore triple “after large and variable delay”
It’s weird that most economists would still argue that we aren’t experiencing inflation and simultaneously claim to agree that Milton Friedman’s research was correct. Obviously they’d argue the “large and variable delay” is the cause. But they should still be 100% certain that inflation is coming.
Bryan Caplan should read his own book. Today he says: “Imagine – there was a time when elite opinion and public policy took free immigration seriously.” This is pretty easy to imagine, since, in his own book, he documents that “elite opinion” is much more favorable to free immigration than mass opinion. Also, many opponents of free immigration would be fine with high levels of immigration if the US had no welfare state like it did in the ’20s. Facts have changed since the ’20s – so should a libertarian’s opinion of open borders. Also on the subject of Caplan, Dennis Mangan also thinks the “idea production” concept is lame.
A while back, Steve Sailer asked what sorts of tactics white people will resort to to improve public schools in their area. This tactic (put in use in Portland – where else?) would work wonders in my neighborhood.
Drudge has a series of articles on black violence across America on Memorial Day – Auster rounds up the links. In the nation’s capitol, there was nothing quite so organized