Competition vs coordination
If there is one consistent theme in the fallout of the financial meltdown it is the demand for more policy “coordination.” In the case of the sovereign debt problems in the European Union it seems inconceivable that the “low debt” countries that are negatively impacted by the “high debt” countries would respond by withdrawing from [...]
Libertarian centralism
“Centralization is ordinarily a sign of social decadence.” Russell Kirk From a “skeptical empiricist” perspective (to use Nassim Nicholas Taleb’s useful phrase) neither “rationalist” nor public policy approaches to libertarianism are particularly credible. But what is quite remarkable about current debates about “libertarian centralism” is that libertarians associated with rationalist schools of thought (Austrian economics, [...]