This is much better than the post I wrote!

102
Sat, Sep 7, 2013 - 9:59am

I couldn't help but think as I listened to this, what a great listen for a Saturday morning. After the introduction and listening to none other than Mike Munger, my second favourite living libertarian economist, I decided it was worth its own moment. Not to mention him using a quote from John Stuart Mill about lighthouses, and proving Mill wrong, and showing that lighthouses can be, and mostly were, built by a combination of market and societal forces, and government is only necessary to enforce contracts. So without further ado, welcome back to the Lighthouse, and please enjoy the guest speakers.

Capitalism, Government, and the Good Society

Videos, Multiple Guests

Hosted by Russ Roberts

On April 10, 2013, Liberty Fund and Butler University sponsored a symposium, "Capitalism, Government, and the Good Society." The evening began with solo presentations by the three participants--Michael Munger of Duke University, Robert Skidelsky of the University of Warwick, and Richard Epstein of New York University. (Travel complications forced the fourth invited participant, James Galbraith of the University of Texas, to cancel.) Each speaker gave his own interpretation of the appropriate role for government in the economy and in our lives. This was followed by a lively conversation on the topic moderated byRuss Roberts of Stanford University, host of the weekly podcast, EconTalk.

We are also pleased to include the video of the symposium, available on youtube at EconStories.

https://www.youtube.com/embed/CODztzLQBfA?feature=player_embedded

Audio only:

Play

About the Author

  102 Comments

mike97
Sep 7, 2013 - 10:02am

1st after listening

Enjoyed that Xty.

Louie
Sep 7, 2013 - 10:03am

First!!!!!

Yahooo! First on Xty's post!

mike97
Sep 7, 2013 - 10:06am

2nd after listening

I only listened to the first 20 minutes and now am going back to hear the rest with my morning coffee.

silver66
Sep 7, 2013 - 10:24am

Fourth EH!

Nice conference

Silver66

Mr. Fix
Sep 7, 2013 - 10:32am

5

Sep 7, 2013 - 10:33am

re 2nd after listening

That's what happened to me. Except it is a third cup of tea.

I am a big fan of these guys. Epstein does a podcast with Jonathon Yoo that I have hesitated to bring to the forum, on Ricochet.com, because it cannot help but be too partisan, which irritates the heck out of me, and I presume most of the people here, but they do a great job of analyzing political doings from a legal, libertarian, stand-point. They also operate behind a cheap pay wall - you can read stuff but not comment or hear the premium podcasts unless you are a member. I pony up my $4 a month, never comment, but often listen. Interviews with Thomas Sowell, etc. But they struggle with being Republicanish - although I swear sometimes I have wondered if they weren't escaping from that problematic way of trying to achieve positive change.

Mike Munger just did another podcast with Russ Roberts on Econtalk, which is also well worth a listen.

Mike Munger of Duke University talks with EconTalk host Russ Roberts about why milk is in the back of the grocery store. Michael Pollan and others argue that milk is in the back so that customers, who often buy milk, will be forced to walk through the entire story and be encouraged by the trek to buy other items. Munger and Roberts argue that competition encourages stores to serve customers and that alternative explanations explain where milk is found in the store. The conversation also discusses restaurant pricing, government "nudging" and related issues of grocery economics.

Munger on Milk
silver66
Sep 7, 2013 - 10:47am

Must read from ZH

I have followed Reggie for a while, he has clear thinking and is not beholden to anyone that I can ascertain. I strongly suggest reading this article

https://www.zerohedge.com/contributed/2013-09-07/exactly-i-warned-cyprus...

Enjoy your Saturday Turdites

Silver66

¤
Sep 7, 2013 - 11:52am

COT - Gold/Silver

GOLD - COMMODITY EXCHANGE INC. CFTC Commitment of Traders *Combined Futures and Options* September 6, 2013
Reportable Positions as of 09/03/2013 Non- Reportable Positions
Speculators Commercial Total
Long Short Spreading Long Short Long Short Long Short
180,877 53,214 211,669 297,846 439,828 690,392 704,711 49,087 34,768
Changes from last report - Change in Open Interest: 16,363
361 -1,085 4,594 6,241 12,069 11,196 15,578 5,167 785
Percent of Open Interest for each category of traders
24.5 7.2 28.6 40.3 59.5 93.4 95.3 6.6 4.7
Number of traders in each category; Total Traders: 318
150 83 114 62 67 259 221
(CONTRACTS OF 100 TROY OUNCES) Open Interest: 739,479
SILVER - COMMODITY EXCHANGE INC. CFTC Commitment of Traders *Combined Futures and Options* September 6, 2013
Reportable Positions as of 09/03/2013 Non- Reportable Positions
Speculators Commercial Total
Long Short Spreading Long Short Long Short Long Short
38,341 13,511 44,817 72,579 106,525 155,736 164,852 22,108 12,992
Changes from last report - Change in Open Interest: -4,603
1,562 -1,549 -666 -4,594 -895 -3,698 -3,111 -906 -1,493
Percent of Open Interest for each category of traders
21.6 7.6 25.2 40.8 59.9 87.6 92.7 12.4 7.3
Number of traders in each category; Total Traders: 178
74 44 62 44 46 146 129
(CONTRACTS OF 5,000 TROY OUNCES) Open Interest: 177,845
¤
Sep 7, 2013 - 12:03pm

Saturday News Blast: Markets

The New $100 Bill May Be Our Most Popular Export - Chris Jones, Esquire

The Jobs' Number Obscures a Disastrous Jobs Picture - Editorial, Investor's
The Real Unemployment Rate Is Actually 9.7% - John Cassidy, New Yorker
One Case Against Fed Tapering In Sept. - Jared Bernstein, New York Times
G20 Meetings, Jobs, and Syria Make O Appear Meek - Larry Kudlow, NRO
5 Years In, Obama's Results Don't Match His Words - Peter Ferrara, Forbes
Why Yellen, Not Summers, Should Get the Fed Nod - Joseph Stiglitz, NYT
What Steakhouse Sizzle Says About U.S. Economy - Shawn Tully, Fortune
Wall Street Pay Is Actually a Model of Clarity - Jonathan Weil, Bloomberg
Starting Business? Skip Business School - Melissa Korn, Wall Street Journal
Deficit Ceiling Shouting Match Has Me Happy - Mark Hendrickson, Forbes
How Fast Should You Trade Your 401(k)? - Jason Zweig, Wall Street Journal
6 Stocks Buffett & Billionaires Love - Krishnamsetty & Doiron, MarketWatch
Syria Will Fan the Flames of September Volatility - Patti Domm, CNBC
Cost of Maximizing Shareholder Value - Steven Pearlstein, Washington Post

Why a Syria Invasion Scares the Stock Market - Anthony Mirhaydari, MSN
Too Many Investors Drew Bad '08 Conclusions - Chuck Jaffe, MarketWatch
How Bill Gross Is Playing the Tapered, Post-Fed Market - Jeff Cox, CNBC
5 Years Later, Has Quantitative Easing Worked? - Edward Hadas, Reuters
Today's Jobs' Report: Good As It's Going to Get? - Nin-Hai Tseng, Fortune
Part Timers & Discouraged Workers Dominate Report - Peter Morici, RCM
Want to Create Jobs? Remove Barriers to Immigration - Ian Scott, Forbes
Manpower's CEO Explains Why You Can't Find Job - Peter Coy, Bloomberg
For Millennials In Today's Job Mkt., Reality Bites - Evan Feinberg, Forbes
Why Food Stamp Reliance Has Exploded - Molly Redden, The New Republic
Online Ed: A Low Price Utopia, Or The Latest Fad? - David Kirp, The Nation

40 Years In, Index Funds Are the Best Investment - Rex Sinquefield, Forbes
Five Reasons to Pore Over Friday's Jobs Report - Josh Boak, Fiscal Times
Six Numbers to Look at in Jobs Report - D. Furchtgott-Roth, MarketWatch
Shale Revolution: Energy's Unexpected Jobs Boom - Daniel Yergin, Fortune
Five Years of Immense Policy Failure - Paul Krugman, New York Times
Credit Is Plentiful in All the Wrong Places - Jeff Snider, RealClearMarkets
Real Estate Alert: The Flippers Are Back - Beth Braverman, Fiscal Times
Five Myths About Living Wage Laws - Christopher Matthews, TIME
We'll Be Better Off If Walmart Protests Fail - Richard Vedder, Daily Beast
Sowell's Cosmic Economics Predicts Obamacare Fail - Jeff Dorfman, Forbes
Microsoft CEO Search Now Gets Interesting - Therese Poletti, MarketWatch
Triple Shocks Threaten Europe's Recovery - A. Evans-Pritchard, Telegraph
G-20 to TIghten Global Rules on Taxes - Andrew Kramer, New York Times
Scorsese, DiCaprio Explore Wall St. Depravity - Mary Kaye Schilling, NYM

Sep 7, 2013 - 12:20pm

Why is my name hard to pronounce correctly?

Last night my wife and I went on a cheap date--shopping for some parts to complete a room addition and dinner at a fast food restaurant. The service was excellent at Taco Bell, with properly wrapped burritos, speedy prep time, and best of all, the server pronounced my name properly . I was sitting there waiting while my wife spoke with her mother on the phone wondering if he would get my name right. Jerome!

What's so hard about that? Well, I suppose it is an uncommon name, probably from an older generation. Usually these teenagers at fast food joints say "Jeremy?" But he got it right this time. And as he politely said, "enjoy your meal" I noticed that he was my age--50 something, as were all the other employees working that shift.

The world is changed, I feel it in the water, I feel it in the earth. I see it at Taco Bell. Much that once was is lost; for few now turn off their TVs. It began with Nixon and Bretton Woods.

Key Economic Events Week of 10/21

10/22 10:00 ET Existing home sales
10/24 8:30 ET Durable Goods
10/24 9:45 ET Markit flash PMIs
10/24 10:00 ET New home sales
10/25 10:00 ET Consumer Sentiment

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Key Economic Events Week of 10/21

10/22 10:00 ET Existing home sales
10/24 8:30 ET Durable Goods
10/24 9:45 ET Markit flash PMIs
10/24 10:00 ET New home sales
10/25 10:00 ET Consumer Sentiment

Key Economic Events Week of 10/14

10/15 8:30 ET Empire State Fed MI
10/16 8:30 ET Retail Sales
10/16 10:00 ET Business Inventories
10/17 8:30 ET Housing Starts and Bldg Perms
10/17 8:30 ET Philly Fed MI
10/17 9:15 ET Cap Ute and Ind Prod
10/18 10:00 ET LEIII
10/18 Speeches from Goons Kaplan, George and Chlamydia

Key Economic Events Week of 10/7

10/8 8:30 ET Producer Price Index
10/9 10:00 ET Job Openings
10/9 10:00 ET Wholesale Inventories
10/9 2:00 ET September FOMC minutes
10/10 8:30 ET Consumer Price Index
10/11 10:00 ET Consumer Sentiment

Key Economic Events Week of 9/30

9/30 9:45 ET Chicago PMI
10/1 9:45 ET Markit Manu PMI
10/1 10:00 ET ISM Manu PMI
10/1 10:00 ET Construction Spending
10/2 China Golden Week Begins
10/2 8:15 ET ADP jobs report
10/3 9:45 ET Markit Service PMI
10/3 10:00 ET ISM Service PMI
10/3 10:00 ET Factory Orders
10/4 8:30 ET BLSBS
10/4 8:30 ET US Trade Deficit

Key Economic Events Week of 9/23

9/23 9:45 ET Markit flash PMIs
9/24 10:00 ET Consumer Confidence
9/26 8:30 ET Q2 GDP third guess
9/27 8:30 ET Durable Goods
9/27 8:30 ET Pers Inc and Cons Spend
9/27 8:30 ET Core Inflation

Key Economic Events Week of 9/16

9/17 9:15 ET Cap Ute & Ind Prod
9/18 8:30 ET Housing Starts & Bldg Perm.
9/18 2:00 ET Fedlines
9/18 2:30 ET CGP presser
9/19 8:30 ET Philly Fed
9/19 10:00 ET Existing Home Sales

Key Economic Events Week of 9/9

9/10 10:00 ET Job openings
9/11 8:30 ET PPI
9/11 10:00 ET Wholesale Inv.
9/12 8:30 ET CPI
9/13 8:30 ET Retail Sales
9/13 10:00 ET Consumer Sentiment
9/13 10:00 ET Business Inv.

Key Economic Events Week of 9/3

9/3 9:45 ET Markit Manu PMI
9/3 10:00 ET ISM Manu PMI
9/3 10:00 ET Construction Spending
9/4 8:30 ET Foreign Trade Deficit
9/5 9:45 ET Markit Svc PMI
9/5 10:00 ET ISM Svc PMI
9/5 10:00 ET Factory Orders
9/6 8:30 ET BLSBS

Key Economic Events Week of 8/26

8/26 8:30 ET Durable Goods
8/27 9:00 ET Case-Shiller Home Price Idx
8/27 10:00 ET Consumer Confidence
8/29 8:30 ET Q2 GDP 2nd guess
8/29 8:30 ET Advance Trade in Goods
8/30 8:30 ET Pers. Inc. and Cons. Spend.
8/30 8:30 ET Core Inflation
8/30 9:45 ET Chicago PMI

Key Economic Events Week of 8/19

8/21 10:00 ET Existing home sales
8/21 2:00 ET July FOMC minutes
8/22 9:45 ET Markit Manu and Svc PMIs
8/22 Jackson Holedown begins
8/23 10:00 ET Chief Goon Powell speaks

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