Download [PDF]: Industrial Policy: New Wine in Old Bottles I. The Unsustainability of the Existing System II. The Seeds of the New System III. What Stands in the Way The problem is, the low-overhead business model I described above for the informal economy is, in almost countless ways, illegal. Take the restaurant/brew pub example. You have to buy an extremely expensive…

Download [PDF]: Industrial Policy: New Wine in Old Bottles I. The Unsustainability of the Existing System II. The Seeds of the New System III. What Stands in the Way Sloanism, not to mince words, is as dead as Elvis; the corpse just hasn’t started to stink yet. The kind of industry that emerges on the other side of the Time…

Download [PDF]: Industrial Policy: New Wine in Old Bottles I. The Unsustainability of the Existing System II. The Seeds of the New System III. What Stands in the Way Einstein reputedly said that you can’t solve problems with the same level of thinking that caused them in the first place. The political and economic establishments tasked to deal with problems, unfortunately,…

Recently Mike Konczal (“‘Corporatism’ is the Latest Hysterical Right-Wing Accusation,” The New Republic, December 15) attacked “corporatism” as a pernicious right-wing meme, ostensibly aimed at exposing Obama’s policies for “enriching the well-off” but in reality a “reactionary” agenda freeing big business from accountability. I think he underestimates the extent to which the “corporatism” and “crony…

So last Sunday in the midst of a second wave of blockades of tech company buses in San Francisco and Oakland, a bus window was broken by some anarchist activists and the action immediately sailed to the top of countless news sites. Activists had been trying to draw attention to how the buses (collectively termed…

AUTHOR’S NOTE: TechCrunch has reported that the Iron Maiden story that this article was centered around was misreported, if not an outright fabrication. We have corrected the factual inaccuracies and regret the error. For years, advocates of strict enforcement of intellectual property law on the Internet and elsewhere have said that the single largest detriment…

Pope Francis wrote in his recent apostolic exhortation, “Just as the commandment ‘Thou shalt not kill’ sets a clear limit in order to safeguard the value of human life, today we also have to say ‘thou shalt not’ to an economy of exclusion and inequality.” He’s right — but not in the way he intends. Before…

I write a lot about artificial scarcity as a source of rents for the propertied classes, and the role of the state in enforcing it. But the other side of the coin is the role of the state in rendering naturally scarce things artificially abundant to the privileged classes. We can see this in recent…

After a week of seeing stories of YouTube’s “ContentID” system wreaking havoc on independent content producers in the name of protecting intellectual property, I finally felt ready to sit down and bang out a commentary on this new, “legitimate” form of IP trollery. As it turns out, Jim Sterling, the reviews editor for video game…

In Commonwealth, Michael Hardt and Antonio Negri observe that, because of network communications and radically cheapening production technology, capital accumulation is becoming “increasingly external to the production process.” But rather than working with this trend and exploiting the opportunities it offers, they argue, the Social Democratic approach is “to reintegrate the working class within capital.”…

On the November 10 episode of the Stossel Show, libertarian commentator John Stossel had an exchange with anarcho-capitalist writer David Friedman on the possibility of “privatizing everything” (i.e. all government functions). When they got to military functions, their discussion shed considerable light on what “privatization” means to a lot of the libertarian Right. “Much of…

Chris Dillow, a heterodox economist who owns Stumbling and Mumbling blog, attacks managerialism from a position decidedly on the Left. But it’s a Left that’s friendly to markets, decentralism, and self-management, and hostile to the New Class version of bureaucratic socialism that dominated Britain from the Webbs to Harold Wilson. The central focus of Dillow’s critique of…

For years now the Motion Picture Association of America (MPAA) has been trying its best, unsuccessfully, to enforce its “intellectual property” claims upon those who would dare share and distribute media. They are of course not the only ones trying to get IP enforced; we have seen the same trends in music and gaming. Since…

Naomi Klein, to a casual reader, might seem to hate the free market. Or at least she hates what most people think of as the free market, based on the conventional use of that term by mainstream politicians and journalists. And the usual vulgar libertarian suspects (see here and here and here) have reacted with exactly the kind of by-the-numbers polemics you’d…

On November 13 Wikileaks published the leaked “intellectual property” chapter of the draft Trans-Pacific Partnership treaty. The IP section is a bundle of draconian provisions curtailing Internet freedom in the interest of protecting proprietary content industries like movies and music and imposing new restrictions on commerce to enforce corporations’ patent monopolies on genetically modified organisms…

An October 20-22, 2013, Fox News national poll revealed that the implementation of ObamaCare (the Patient Protection and Affordable Care Act) by the American state has been so chaotic that 60% of registered voters characterize the process as “a joke.” The economic reasons for the incompetence are well known by libertarians familiar with the Austrian tradition…

Ken MacLeod. Intrusion (Orbit Books, 2012). Imagine a near-future Britain with the full mix of paternalism and police state authoritarianism from Tony Blair’s New Labour days. But the ASBOs are issued pursuant to social policies framed by Cass Sunstein and Michael Bloomberg. And the apparatus of surveillance cameras and detention without trial has been augmented…

In a syndicated column last October, television journalist John Stossel lamented the downgrading from sixth to eighth place—“behind Canada!”—of the United States on the Heritage Foundation/Wall Street Journal Index of Economic Freedom. The Index is based on several metrics, including freedom of movement of capital, the degree of business regulation, and levels of taxes and spending….

The Progressive movement at the turn of the twentieth century—the doctrine from which the main current of modern liberalism developed—is sometimes erroneously viewed as an “anti-business” philosophy. It was anti-market to be sure, but by no means necessarily anti-business. Progressivism was, more than anything, managerialist. The American economy after the Civil War became increasingly dominated…

Tyler Cowen’s thesis is that economic growth is leveling off and rates of return decreasing because we’ve already picked the “low-hanging fruit” (meaning innovations and investments that have high returns). The stagnation in GDP and median income in recent decades means “the pace of technological development has slowed down,” and the general population is benefiting…