In my last post on meat markets and securities markets, I argued that competitive markets require government oversight to prevent fraud and monopoly. The post drew a response from Libertarian friends: didn’t I know that government regulators would immediately be captured by the regulated industry, resulting in worse fraud and monopoly?
Industry capture? Yes, . . . → Read More: Can Killing Government Prevent Special Interest Capture?
“Who got the most standby [credit]s from the IMF over the last half century? The answer is Haiti, with twenty-two. And not just Haiti, but the Duvalier family (Papa Doc and Baby Doc), under whom Haiti got twenty of the twenty-two standbys from 1957 to 1986.”
“The politics were bad, but the Duvaliers made up . . . → Read More: The White Man’s Burden, by William Easterly
David Ellerman’s new book, Helping People Help Themselves: From the World Bank to an Alternative Philosophy of Development Assistance, (forward by Albert O. Hirschman) is finally out in affordable paperback. Yay!
“The best kind of help to others, whenever possible, is indirect, and consists in such modifications of the conditions of life, of the general . . . → Read More: Helping People Help Themselves, by David Ellerman