@romanhelmetguy Manufacturing output nearly tripled since the ‘70s. That’s because manufacturers founded less costly ways to produce more with less. That’s exactly what’s great about innovation. What measurable metric are you thinking of when you say living standards have declined?
@JulieBorowski For folks that pay lip service to learning economics (the libertarians you have in mind), a lot of lazy and stupid ideas would stop if they’d just read Coase and consider problems with positive transaction costs.
@TimothySandefur@reason Almost done with the book and expect to finish it this evening. Thank you for your work sir! Along with Bradley Thompson’s book, it’s the book the country needs today.
@AP4Liberty First they came for Block & I did not speak out, because I bothered to actually read Coase. Then they came for Hoppe & I did not speak out, because I didn’t support repudiating basically all of Mises’ politics. Then no one was left to speak out; the nuts just purged each other.
@JohnBinder5@ChristianHeiens Assuming property rights are defined and enforced that issue can be resolved in court pretty easily. What’s harder is where there are not property rights well defined, or they are too costly to establish, and fighting it out is the less costly option. Here’s Menger on it.
@jfcarpio@jackvlloyd Definitely underrated, but his book is too long to expect people to take the time to read it carefully. It’s a shame because it really is a neglected and unappreciated classic.
@ChristianHeiens 2/2 the economists who did respond to Marx/early socialists didn’t rest their argument on open ended questions about political philosophy. The point was a very practical one that the economic function of property rights makes civilization possible: Marxism will destroy it.
@ChristianHeiens 1/2 Dude you need a healthy dose of basic econ on property rights. This is just getting goofy. You won’t get a “natural rights” argument from Menger, Mises, Hayek, Knight. or Coase for property rights. The point is properly rights incentivize allocating resources efficiently.