Economics when Value Is Intangible – Econlib Arnold Kling

Economics when Value Is Intangible – Econlib

Arnold Kling

Citation (APA): Kling, A. (2018). Economics when Value Is Intangible – Econlib [Kindle Android version]. Retrieved from Amazon.com

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Parte introduttiva

Evidenzia ( giallo) - Posizione 2

Economics when Value Is Intangible– Econlib By Arnold Kling

Evidenzia ( giallo) - Posizione 5

Microsoft’s market value in 2006 was around $ 250 billion…

Nota - Posizione 5

I BENI VALEVANO 3

Evidenzia ( giallo) - Posizione 7

This was capitalism without capital.

Nota - Posizione 7

ESEMPIO CLASSICO

Evidenzia ( giallo) - Posizione 7

—Jonathan Haskel and Stian Westlake, Capitalism without Capital: The Rise of the Intangible Economy,

Nota - Posizione 8

IL LIBRO

Evidenzia ( giallo) - Posizione 12

negative implications for neoclassical economics.

Nota - Posizione 12

L ECONOMIA DELLO SPIRITO

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“Sunk costs” refers to the fact that intangible investment often has little or no salvage value.

Nota - Posizione 15

IL BENE USATO LO PUOI RIVENDERE...L IDEA USATA NO

Evidenzia ( giallo) - Posizione 18

Scalability refers to the fact that the intangible value of a brand or idea can be extended at very low marginal cost.

Nota - Posizione 19

ALTRA CARATERISTICA

Evidenzia ( giallo) - Posizione 22

“Synergies” refers to the fact that the value of a combination of intangible assets cannot be decomposed into individual components.

Nota - Posizione 23

CASO ESTREMO DI SPILLOVER

Evidenzia ( giallo) - Posizione 24

“Spillovers” refers to the fact that the value of intangible investment can easily be captured by other firms.

Nota - Posizione 25

ALTRA CARAYTERISTICA

Evidenzia ( giallo) - Posizione 29

difficulty with measuring the value of intangible capital; difficulty with forecasting the value of intangible investment; different methods of financing intangible investment; the incentive to capture spillovers; and increased inequality across firms and cities.

Nota - Posizione 31

PARTENDO DALLE 4 PREMESSE

Evidenzia ( giallo) - Posizione 36

Think of some of the dotcom companies that were created in the late 1990s and subsequently collapsed.

Nota - Posizione 36

IL CAPITALE INVESTITO PUÒ ANDARE SUBITO A ZERO...CONCORRENTI DI GOOGLE

Evidenzia ( giallo) - Posizione 37

because of scalability and synergies, the value of intangible investment can very much exceed its cost.

Nota - Posizione 37

PENSA A GOOGLE MICROSOFT

Evidenzia ( giallo) - Posizione 39

So how can a cost-based method be accurate?

Nota - Posizione 40

I VGECCHI MKETODI NN VALGONO

Evidenzia ( giallo) - Posizione 46

debt financing is less appropriate than equity financing for intangible investment.

Nota - Posizione 46

CAUSA L ALTA RISCHIOSITÀ

Evidenzia ( giallo) - Posizione 48

to invest broadly across an ecosystem,

Nota - Posizione 48

STRATEGIE DOVE SPILLOVER È ALTO

Evidenzia ( giallo) - Posizione 50

even more important are the strategic acquisitions made by large pharmaceutical corporations or by companies such as Google, Amazon, Apple, and Facebook,

Nota - Posizione 51

POLITICQA DELLE FUSION

Evidenzia ( giallo) - Posizione 52

The fact that intangible investment leads to very divergent outcomes can help to explain rising economic inequality.

Nota - Posizione 53

DISEGUAGLIANZA

Evidenzia ( giallo) - Posizione 54

generates winners and losers.

Nota - Posizione 54

SCALABILITY SPILLOVER SINERGY

Evidenzia ( giallo) - Posizione 56

The four S’s framework is insightful.

Nota - Posizione 56

NEL COMPLESSO

Evidenzia ( giallo) - Posizione 63

a creative high-tech company needs to allow its employees to be freewheeling, while a company that depends on finely-tuned logistics and reliable worker performance needs to be very controlling.

Nota - Posizione 65

IL LAVORO

Evidenzia ( giallo) - Posizione 68

the right strength for intellectual property law also is difficult to specify.

Nota - Posizione 69

ALTRA INDEYERMINATEZZA...IL CALCOLO SPILLOVER

Evidenzia ( giallo) - Posizione 75

the intangible assets of a firm might retain their value for a long time, or even appreciate rapidly. Conversely, they may suddenly plummet in value.

Nota - Posizione 76

AMMORTAMENTO DELLE IDEE

Evidenzia ( giallo) - Posizione 77

it is highly problematic to attempt to calculate “total factor productivity,” the “capital-labor ratio,” or the “capital share of income.”

Nota - Posizione 78

ALTRI PROBLEMONI

Sociologia ed economia, una barzelletta

Economics is about how people make choices; sociology is about how people don’t have any choice.”

http://www.themoneyillusion.com/what-information-should-we-consume/

FISICI vs ECONOMISTI

Riccardo Mariani

Adesso · 

FISICI vs ECONOMISTI

Immaginatevi uno dire: l'arroganza dei fisici è insopportabile, pretendono che forza di gravità e conservazione dell'energia siano leggi universali indiscutibili, dopodiché non sanno nemmeno prevedere se alzerò il mio braccio tra un minuto. Ah ah ah. Forse dovrebbero essere più umili, forse dovrebbero rendersi conto che esiste molto altro rispetto a quello di cui si occupano loro, forse dovrebbero leggere qualche romanzo in più per aprire la loro mente e comprendere che il mondo è molto più complesso di come ce lo presentano con i loro schemini, forse, addirittura, dovrebbero pensarci due volte prima di chiamare "scienza" la loro disciplina.

Trovate stupida questa accusa? Ma è l'accusa che spesso viene rivolta agli economisti.

Peccato perché nel frattempo l' "abuso di conoscenza" di cui pure buona parte della disciplina si è macchiata prospera quando le denunce più serie devono poi accompagnarsi a simili stupidate.

NEWYORKER.COM

Can Economists and Humanists Ever Be Friends?

One discipline reduces behavior to elegantly simple rules; the other wallows in our full, complex particularity. What can they learn from each other?

Mi piaceVedi altre reazioni

Più donne nell'economia?

Riccardo Mariani

23 febbraio alle ore 20:04 · 

Lo sforzo di immettere più donne nelle scienze economiche è di fatto un modo per spostare più "a sinistra" la disciplina.

Men and women in economics have different opinions

Male economists are both more right-wing and more senior

ECONOMIST.COM

Aggregare a più non posso

Riccardo Mariani

6 h · 

Amazon

 · 

Se A e B si scambiano volontariamente un bene, staranno entrambi meglio (altrimenti non se lo sarebbero scambiato). Ci siamo?

Ora, economisti traspongono con disinvoltura questa granitica verità dagli individui alle comunità: se le comunità A e B si scambiano un bene staranno entrambe meglio! I singoli individui penalizzati dallo scambio sia nella comunità A che nella comunità B non rilevano.
È il miracolo dell'aggregazione che consente agli economisti di compiere questi salti mortali.
Semplificare va bene ma aggregare a raffica e sempre a costo zero forse è un po' troppo.

Offerta aggregata, domanda aggregata, produzione aggregata... sono tutti concetti problemarici che sviano la comprensione dei fenomeni, È qui che dovrebbe intervenire una revisione dell'economia classica.

#Amazon

Specialization and Trade: A Re-introduction to Economics

Since the end of the second World War, economics professors and classroom textbooks have been telling us that the economy is one big machine that can be effectively regulated by economic experts and tuned by government agencies like the…

AMAZON.IT

L'economia che funziona

Riccardo Mariani

Adesso · 

AddToAny

 · 

Idee economiche che funzionano:

1) legge della domanda e dell'offerta,
2) teoria dei prezzi (le risorse non si esauriscono mai),
3) teoria della crescita come distruzione creativa,
4) teoria del commercio e della specializzazione.
5)...

Idee economiche che non funzionano:

1) macroeconomia dell'offerta e della domanda aggregata,
2) teoria dei beni pubblici,
4) teoria dell'inflazione.
5)...

Which concepts work in economics?

On Quora, I was asked where economics works. I changed the question to "which concepts work?" My answer was The laws of supply and demand work. The principle of substitution works (we do not run ou...

ARNOLDKLING.COM

L'economista che è in te.

L'economia va di moda. In effetti i mercati sono ovunque.

Un ateo di 22 anni ha chiesto alla chiesa di essere pagato a tariffa oraria per andare a messa.

William Shatner storico protagonista di Star Trek ha venduto un calcolo renale

Chi non crede che i soldi comprano la felicità non sa In che centro commerciale spenderli.

Economia parla di incentivi non di soldi. Anche un sorriso, un elogio può costituire un incentivo.

Un mercato per il miglioramento personale. Per la correzione dei propri bias. Esci e serviti dei mercati.

L'economia è noiosa. Perché una teoria Sia valida deve potersi scrivere su una cartolina. Devi capirla anche la nonna. Dobbiamo prendere decisioni rapide. Ci serve qualcosa di semplice.

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Cosa ci fa agire  il riconoscimento e il rispetto?

L'apologo dei piatti sporchi. Paghereste vostro figlio per lavare i piatti? No meglio puntare sulla spinta interiore, ovvero sulla voglia di sentirsi riconosciuta come membro della famiglia. Devi pensare, il mio impegno è importante per la famiglia.

Gli esseri umani si indignano al pensiero che tutto abbia un prezzo.

L'incentivo è tarato sulla cultura. La persona reagisce in base ciò che ritiene sia il gioco nelle sue scelte.

Pagare per studiare? Funziona solo nelle scuole disagiate dove gli allievi non vogliono assolutamente imparare.

Ricompense alte soffocano l'individuo. Sotto stress l'individuo si conforma alle aspettative sociali.

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Mercato contro l'obesità punto Si firma un applicazione con un amico poi si compila un assegno. Il corpo è semplice, i soldi si perdono se non si fa esercizio fisico.

Per molti fare sport è bello se non si è vincolati a farlo. Vogliamo essere in controllo della situazione.

per mansione banali  l'individuo non è in gioco e il compenso in denaro funziona meglio.

Dite no all'alcol funziona meglio dello slogan Non bere Fai come tutti gli altri.

le sanzioni  ai ritardatari sono controproducente. In Israele sono state considerate come una piccola penale che valeva la pena di pagare.

È più difficile ottenere una risposta se nel biglietto apponiamo la sigla rsvp. Fare una telefonata di riscontro peggiora le cose

Come pagare il tuo dentista. O il tuo avvocato? Un bel regalo a natale. Procacciare lavoro. Sostenere la sua immagine di ottimo professionista.

Sintesi. Gli incentivi canonici non funzionano se la persona non si sente il controllo della situazione.

Quando valori e incentivi si coniugano i risultati sono esaltanti.

Rinascimento. L'apertura di nuove vie commerciali ha creato nuova domanda per la bellezza. Beethoven ha dato lezioni di musica e concerti per la classe media emergente.

L'Unione Sovietica ha cercato di sposare il mercato ma senza una cultura adeguata.

Così come la cultura chiede mercato per diffondersi anche il mercato chiede una cultura.

***

Senso comune nell'economia

Hypocrites & Half-Wits: A Daily Dose of Sanity from Cafe Hayek by Donald Boudreaux

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I DON’T WANT TO BE UNIFIED

Thomas Friedman wants “a president who can unify the country around meaningful action on energy and climate”… but I don’t want to be unified… I’m different…

Note:L’ABBRACCIO SOFFOCANTE DI THOMAS FRIEDMAN

OF COURSE, IN THE CASE OF TAX PENALTIES, THE AGENCY IS UNACCOUNTABLE AND THE CHARGES ARE UNCONSCIONABLE—YET THEY STILL DO ENCOURAGE FULL AND TIMELY PAYMENT OF TAXES.

You’re correct that the Credit Card Accountability, Responsibility and Disclosure Act of 2009 will discourage lenders from extending credit to households most in need of it by arbitrarily reducing the penalties that lenders may assess against dead-beat and delinquent debtors

Note:PIU’ MISURE PER FAVORIRE I DEBITORI, MENO CREDITO EROGATO

Ask Congress and the White House to regulate more strictly the penalties assessed by the IRS against dead-beat and delinquent taxpayers—for example, let’s reduce fees and interest charges for late payment of taxes, and eliminate jail time as a punishment for tax evasion. If Our Leaders’ faith is sound, there will be no increase in tax evasion and delinquencies.

Note:ANALOGIA

YET ANOTHER EXAMPLE OF A MEMBER OF THE PROFESSORIATE WHOSE IGNORANCE OF HISTORY IS UNPARDONABLE OR WHOSE DISTORTED ETHICS ARE APPALLING (OR BOTH).

John D. Rockefeller earned every cent of his wealth honestly and peacefully—mostly by creating unprecedented efficiencies in the production and distribution of kerosene, the chief product extracted from petroleum during the 19th century. Rockefeller’s efficiencies drove the price of kerosene down from 26 cents per gallon in 1870 (the year Rockefeller founded Standard Oil) to 5.9 cents per gallon in 1897 (the year Rockefeller retired from Standard)…. The only people ‘harmed’ by Rockefeller were his competitors (such as Franklin Tarbell, father of Ida) who failed to keep up with Standard’s innovations and cost-reducing techniques….

Note:IL TIPICO ROBBER BARON PERSEGUITATO DALL' ANTITRUST

COMMUNISM AND CAPITALISM.

Slavoj Zizek rightly complains—if with understatement bordering on the vulgar—of being “deceived” by communism (“20 Years of Collapse,” Nov. 9). But like many other pundits who feign wisdom by steering clear of what they mistakenly interpret to be an extreme position, he complains also of being “disillusioned” by capitalism.

Note:LA SIMMETRIA IMMAGINARIA DI ZIZEK

capitalism is not imposed; it is simply what arises when adults are free to engage in consensual commercial acts… Perhaps most importantly, unlike communism, capitalism promises neither to produce heaven on earth…

L' ASIMMETRIA

HE SET THE STANDARD.

Stephen Stromberg is correct that the recent run-up in gasoline prices isn’t the fault of President Obama (“President Obama says that gas prices reflect supply and demand,” April 27). But Mr. Stromberg is wrong to pity Mr. Obama for nevertheless being blamed by the public for their pain at the pumps. Mr. Obama, like so many elected officials, won office by deluding voters with a grand image of a government that, in the right hands, can fix nearly every problem

Note:IL GOVERNO ILLUDE

GOVERNMENTS CAN BE BUILT; NATIONS MIGHT BE BUILT; CIVIL SOCIETIES, ALAS, CAN NEVER BE BUILT. THEY MUST EMERGE.

William Kristol argues that “American principles” require Uncle Sam to intervene more vigorously—with force, if necessary—in the revolutions now sweeping through the Middle East

Note:I NEOCONSERVATORI

The same government that Mr. Kristol so often, and rightly, criticizes for making a mess of matters here at home is unlikely to become a shining example of efficiency, rectitude, and Solomaic wisdom in foreign lands.

Note:MA...

FRIEDMAN AND KENNEDY.

“Ask not what your country can do for you—ask what you can do for your country”

Note:L'ODIOSA MASSIMA DI KENNEDY

“Neither half of the statement expresses a relation between the citizen and his government that is worthy of the ideals of free men in a free society. The paternalistic ‘what your country can do for you’ implies that government is the patron, the citizen the ward, a view that is at odds with the free man’s belief in his own responsibility for his own destiny. The organismic, ‘what you can do for your ‘country’ implies the government is the master or the deity, the citizen, the servant or the votary.”

Note:FRIEDMAM SPIEGA PERCHÈ

HYPOCRITES.

Paul Luce rightly notes that new legislation limiting the issuance of credit by retail stores is obnoxiously paternalistic: many customers who wish to buy on credit, and many retailers who wish to take the risk of extending credit, are now arbitrarily prevented from doing so (Letters, Jan. 8). This legislation is especially infuriating because the same politicians who voted for it—the very same officious intermeddlers who claim to care so deeply about protecting unsuspecting Americans from being burdened with excessive debt—wantonly and routinely foist huge debt burdens on each and every American (and our progeny) through Uncle Sam’s soaring budget deficits.

Note:IL COLMO: IL LEGISLATORE DI UNO STATO INDEBITATISSIMO CHE LIMITA PER LEGGE IL CREDITO AL CONSUMO. E ALZA ANCHE IL DITINO

IT’S A MAGIC SHOW IN WHICH THE RABBIT FAILS TO SPRING FROM THE HAT BUT IN WHICH SOME AUDIENCE MEMBERS REALLY DO GET SAWED IN HALF.

He writes that “Over the past 20 months, Democrats have done a lot—too much, the opposition says. But they don’t want to talk about the achievements. The stimulus bill is unpopular; they’re not getting credit for health-care legislation, financial reforms and many other accomplishments.” Enacting legislation is neither an “achievement” nor an “accomplishment”

Note:PER DANA MILBANK FARE LEGGI È QUALCOSA CHE VA RIVENDICATO

I’VE SAID IT BEFORE: TRYING TO LEARN ECONOMICS FROM THE POPULAR MEDIA IS LIKE TRYING TO LEARN PHYSICS BY WATCHING ROAD RUNNER CARTOONS.

Fox Morning News co-host Megyn Kelly naively worries that Pernod’s acquisition of Vin & Spirit AB (maker of Absolut vodka) will lead to higher prices paid by those of us who belly up to the bar (March 31). Ms. Kelly reasons that, because many analysts regard the $8 billion paid by Pernod for Vin & Spirit to be “too high,” Pernod will raise the prices it charges for its products in order to recover the losses it would otherwise suffer as a result of paying such a large sum for Vin & Spirit. If Ms. Kelly’s economics were correct, bankruptcies would be unknown. Any business finding its revenues to be inadequate would simply raise the prices

Note:UN MONDO SENZA BANCAROTTE

DOUX COMMERCE.

Rwanda’s post-genocide experience teaches a lesson that remains too-little appreciated: commerce crowds out evil. My wife, Karol Boudreaux, has done extensive research in Rwanda. She finds compelling evidence that Rwanda’s deregulation of its coffee market has played a major role in calming tribal hostilities… Hutus and Tutsis, who just a few years ago sought to slaughter each other, now mutually prosper by working side by side to grow and process coffee for the global market….

Note:MALE E BENE IN RWANDA

THE LOGIC, I SUPPOSE, IS THAT WE SHOULD BE FREE TO DO ONLY WHAT IS WISE AND GOOD AND APPROVED BY ELITE OPINION.

“Experience has shown that consumers do not always use their freedom to make healthy choices. So a regulation that is based on science and in the best interests of the consumer should not be interpreted as an unwarranted intrusion into personal lifestyle choices. Is the freedom to choose unhealthy food that difficult to forfeit?”

Note:TIPICO PENSIERO DELLO SCIENZIATO IDIOTA

Experience has shown that newspapers do not always use their freedom to report wisely. So a regulation that is based on science and in the best interest of the public should not be interpreted as an unwarranted intrusion into freedom of the press.

Note:APPLICHIAMO IL PRECETTO AI GIORNALI

HAT TIP TO WALTER WILLIAMS.

“Public policy designed to help workers who lose their jobs can lead to structural unemployment as an unintended side effect.… In other countries, particularly in Europe, benefits are more generous and last longer. The drawback to this generosity is that it reduces a worker’s incentive to quickly find a new job. Generous unemployment benefits in some European countries are widely believed to be one of the main causes of ‘Eurosclerosis,’ the persistent high unemployment that affects a number of European countries.”

Note:KRUGMAN SUI SUSSIDI ALLA DISOCCUPAZIONE

THIS KICKABLE HORSE WON’T DIE.

Usually sure-footed, Martin Feldstein stumbles when he argues that “America will need a trade surplus” in order to “repay” today’s trade deficit (“Thinking About the Dollar,” July 28). First, the only part of the trade deficit that must be repaid is the part that becomes debt, such as when foreigners buy Treasury notes. When foreigners buy dollar-denominated equity or real estate, or when they make greenfield investments in the U.S. or simply hold dollars, no debt is created.

Note:IL DEBITO ESTERO AMERICANO

Uncle Sam and many private Americans might well have financed excessive consumption with excessive debt, but, if so, the problem is the debt and not the nationalities of the creditors.

Note:IL PROBLEMA NON È LA NAZIONALITÀ DEI CREDITORI

MORE AND MORE MIDDLE-CLASS AMERICANS ARE DISAPPEARING—INTO THE UPPER CLASSES. (AND WITH APOLOGIES TO ARNOLD KLING.)

Judith Warner writes that “More and more people are being priced out of a middle class existence” (“The Clinton Surprise,” October 19). This statement is true, but only because more and more Americans are getting richer.

Note:LA CLASSE MEDIA DIVENTA RICCA
DISPOSING OF A MYTH.

Given that the total land area needed to hold all of America’s garbage for the next century would be only about 10 miles on a side, it is safe to conclude that far more rubbish than is worth considering will fit into far less area than is worth worrying about.”

Note:QUANTO SPAZIO SERVE PER LE DISCARICHE

SELF-DELUSION IS ONE THING; TRYING TO PERSUADE OTHERS THAT YOUR SELF-DELUSIONS ARE REALISTIC IS QUITE ANOTHER.

Jim Apgar claims that he and his colleagues were motivated only by their students’ needs and that “no amount of money would have improved my performance” (Letters, March 16). Wow! Taking Mr. Apgar at his word implies that no reduction in the amount of money he was paid would have worsened his performance. Indeed, his claim suggests that he would have continued to teach—and teach well—

Note:LA PAGA DEGLI INSEGNANTI

WINNING AN ARGUMENT IS EASY IF YOU ASSUME THAT THE RELEVANT CONCLUSION IN SUPPORT OF YOUR ARGUMENT IS TRUE.

Conservatives (or, more accurately here, skeptics of the welfare state) argue that government programs, because these rely upon taxation and force, are not the product of a people’s compassion. These are instead the product of force-backed greed masquerading as compassion (Ever reflect on why the Food Stamp program is run by the Department of Agriculture, or why labor unions oppose free trade?),

Note:IL WELFARE NON È BONTÀ

YOU WANT TO SEE THE OPPOSITE OF DIGNITY?

I write this letter from Tbilisi, Georgia, I report personally one such reason visible to anyone here. This city is crowded with hideously ugly, dilapidated, and spirit-devastating concrete buildings erected by the Soviets. Living and working in these overgrown hovels is anything but dignified. In vivid contrast to the impersonal communist-era structures are the buildings and homes built since the fall of the Soviet Union. These structures—products of powerful doses of capitalist creativity, enterprise, and consumer choice—are warm, unique, personal, attractive, and functional.

Note:IL CAPITALISMO DISTRUGGE LA DIGNITÀ DELL'UOMO? GIUDICHIAMO DA TIBILISI

ANSWER ME THIS.

People would pay property taxes. Government would spend these tax receipts on building and operating supermarkets. Each household would be assigned to a particular supermarket from which it would get its weekly allotment of groceries for “free.” (Department of Supermarket officials would determine the quantities and kinds of groceries that families are entitled to receive.) Each family would be allowed to patronize only that “public” supermarket to which it is assigned. Residents of wealthier counties would obviously have better-stocked supermarkets than would residents of poorer counties. Indeed, the quality of public supermarkets would play a major role in determining people’s choices of neighborhoods in which to live. When the quality of supermarkets becomes widely recognized to be dismal, calls for “supermarket choice” would arise, only to be ridiculed as a right-wing ploy to deny ordinary families the ability to eat. Such choice, it would be alleged, would drain resources from public supermarkets whose poor performance proves that these supermarkets are underfunded.

Note:PERCHÈ NON GESTIRE I SUPERMERCATI COME LA SCUOLA?

CONTROL YOUR PRESUMPTIONS.

Mr Wilkinson correctly challenges New York Times columnist Nicholas Kristof’s claim that “the wealthiest plutocrats now actually control a greater share of the pie in the United States” than in several countries of Latin America. Rich Americans, Mr Wilkinson rightly points out, overwhelmingly are business people who serve the middle-classes and not political, military, or ecclesiastic predators who steal from peasants…. wealth is not “controlled.”…

Note:I RICCHI DOMINANO SERVENDO IL PROSSIMO

Wealth is created only by serving consumers—that is, by making others wealthier—and it flees from those who stop serving consumers. Should Apple stop producing innovative products that consumers willingly buy, Steve Jobs’s fortune will disappear. Should Southwest Airlines start charging uncompetitive fares, its shareholders’ wealth will dissolve. Should a super-wealthy hedge-fund manager consistently fail to increase the value of his clients’ portfolio, he will become a not-so-super-wealthy ex-fund-manager.

Note:L' AZIONE DELLA RICCHEZZA

INTENTIONS ARE NOT RESULTS.

Mr. Lutz is incorrect to assert that it is a “deep contradiction” to claim to care about children while being against government programs such as “health insurance for children, … against unemployment benefits, against equal pay, against food safety, against money for teachers, against raising the minimum wage, against tobacco education, mine safety, alternative energy, pollution control, whistle-blower protection, science and technology research.” To oppose government provision of such things is not to be “against” such things.

Note:ESSERE CONTRO UN PROGRAMMA GOVERNATIVO NON SIGNIFICA ESSERE CONTRO CIÒ CHE VORREBBE REALIZZARE QUEL PROGRAMMA

THE CLOSING SENTENCE IN SOWELL’S 1980 BOOK, KNOWLEDGE & DECISIONS:

“FREEDOM IS NOT SIMPLY THE RIGHT OF INTELLECTUALS TO CIRCULATE THEIR MERCHANDISE. IT IS, ABOVE ALL, THE RIGHT OF ORDINARY PEOPLE TO FIND ELBOW ROOM FOR THEMSELVES AND A REFUGE FROM THE RAMPAGING PRESUMPTIONS OF THEIR ‘BETTERS.’”

Note:LA LIBERTÀ È LIBERTÀ DI SBAGLIARE

liberals,” in contrast to their mindless Cro-Magnon opposites, overflow with ideas (“The State of Liberalism,” Oct. 24). Indeed they do. But these ideas are almost exclusively about how other people should live their lives.

Note:IL MARCHIO DEL PROGRESSISTA

SHE IS TO ABSORB THE COSTS OF THIS LEGISLATION.

The anecdote she offers from her own restaurant is that, since the legislation went into effect, employees no longer report to work while sick and, hence, no longer infect fellow employees with their ailments.

Note:GLI EFFETTI DELLA LEGGE SUL CONGEDO PAGATO PER MALATTIA

why did she not offer paid sick-leave to her employees on her own?

PROBLEMA

SPIEGARE IL PROTEZIONISMO

My favorite teaching tool is a fable based on a tale told by Professor James Ingram of North Carolina State University. It’s the tale of a brilliant entrepreneur who invented a new technology for turning grain into cars. The entrepreneur built a factory by the sea, surrounded its inner workings with secrecy, and commenced production. Consumers were thrilled to learn that the new cars were better and cheaper than anything Detroit had to offer. Midwestern farmers were thrilled when the factory ordered vast amounts of grain to feed into its mysterious machinery. There was indeed dismay among those autoworkers who had been trained in the old methods, but there was also a general recognition that technological progress, even when accompanied by growing pains, is on balance a very good thing. One day an investigative reporter managed to locate a disgruntled employee who revealed the entrepreneur’s great secret. The vast factory was hollow. The back wall opened out onto a shipping dock. Grain came in the front door and went out the back, where it was sent to foreign countries in exchange for cars

LA FIABA DI INGRAM
PERCHE’ I POMPIERI SONO PAGATI MENO DELLE POP STAR?

Capisco che molti non sopportino bene il fatto che gente come Tom Brady o Jennifer Lawrence guadagnino molto di più di un pompiere o di un insegnante di scuola. Ma questo fastidio non riflette affatto l’incomprensione della gente per un sistema economico fallimentare bensì l’incapacità di capire come funziona un sistema economico di successo. E, purtroppo, riflette anche l’incapacità degli economisti di trasmettere al vasto pubblico i concetti base della loro disciplina.

Ci provo ancora facendoti una domanda retorica: preferisci vivere in un mondo in cui il numero di persone capaci di spegnere un incendio (o il numero di persone capaci di insegnare ad un bimbo della scuola) sia elevato e il numero di persone capace di esibirsi su un palco sia esiguo oppure in un mondo in cui i rapporti quantitativi siano invertiti? 

Sono sicuro che preferisci che abbondino le competenze su come di doma un incendio o su come si insegna ad un bambino piuttosto che le competenze su come si recita o su come si pratica una certa disciplina sportiva. E questo proprio perché salvare le vite domando un incendio o crescere un bambino nel modo migliore è molto più importante che intrattenere le persone nel loro tempo libero. Noi siamo estremamente fortunati di abitare in un posto in cui abbondano le persone in grado di salvare chi è minacciato da un incendio o di far crescere un bambino nel modo migliore, pazienza poi se chi sa recitare bene è solo una ristretta cerchia di persone.

Ebbene, la bassa paga di insegnanti e pompieri riflette solo questa felice realtà.

Ma non dobbiamo parlare solo di fortuna: sono le virtù del sistema stesso che realizzano questo miracolo convogliando più risorse laddove i bisogni sono più urgenti: The lower pay of fire fighters and school teachers simply reflects the happy reality…

IL MONDO MIGLIORE POSSIBILE