Principled Businesses Supporting Liberty February 21, 2013Posted by federalist in RKBA.
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The Left often derides for-profit businesses as mercenaries that, without proper regulation, would sacrifice the well-being of their employees, customers, and anyone else who stands in the way of turning a quick profit.
The firearms industry is offering a refreshing counterpoint: A significant number of American manufacturers have declared that they will apply the same rules and restrictions to governments as the governments apply to their subjects/citizens. [20130223 Update: ThePoliceLoophole.com is serving as a clearinghouse to list companies that are taking the initiative to close this “police loophole” themselves.]
Yesterday Barrett added this eloquent letter, explaining that they will not service or sell to any government agency that attempts to abridge the constitutional rights of Americans. They take it one step further, declaring that this policy extends to any “individual elected official who, as a matter of public record, has voted for or created regulation that violates the constitutional rights of their citizens.” It’s a great statement and a great model for principled commerce. Full letter copied here:
Efficient Market Hypothesis Disproved! February 15, 2013Posted by federalist in Markets.
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Efficient markets are often explained with a joke about an economist walking by a $100 bill. His companion exclaims, “Look, there’s a $100 bill on the sidewalk!” Without stopping the economist responds, “That’s impossible; if it were really there somebody would have already picked it up.”
So here’s a picture of a $100 bill my wife found folded on the sidewalk outside a parking garage. She picked it up and looked around to find its owner. Seeing nobody, she concluded it must be fake. But she brought it home thinking I would enjoy figuring out what’s wrong with it.
Well, it passes every unclassified test for authenticity. Perhaps God knew that I needed a reminder of how inefficient the real world can be.
Is College Cost-Effective? February 7, 2013Posted by federalist in Education.
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This blog has long criticized the higher-education cartel and bubble.
Rick Bookstaber has a great analysis of the overt functions of higher education — to Learn, Signal, Network, and Party — and proceeds to point out that each of those functions can now be accomplished much more cheaply and efficiently than in a traditional 4-year-college. (Yes, one commenter even suggests an effective substitute for the Network/Party “feature” of college.)
Yes, I’m bearish on higher education. Unless they want to be academics, I don’t hope my kids go to college. I hope they find a passion, or at least a productive interest, and that they will use the modern tools for learning, signaling, and networking to side-step the debacle of traditional higher-education en route to fulfilling their potential.