Interesting blog bits

1. Richard A. Epstein asks Reforms? What Reforms?

   One distinguished legal scholar, Epstein, has a go at another distinguished legal scholar, Cass Sunstein.

2. Gary Becker asks Another Tech Bubble in the Offing?

   The dotcom boom at the end of the 1990s was a classical and magnificent bubble. Venture capitalists and other investors were throwing tens, and often hundreds, of millions of dollars at Internet startups and fledgling biotech companies that usually were not making profits, and frequently did not have any sales. The bubble burst in 2000, and the huge valuations placed on these companies disappeared, along with many of the companies. It is only a decade later, but a second dotcom boom has begun, and some early signs are surfacing of a possibly another bubble.

3. Gerald P. O'Driscoll, Jr. on Money and Inflation: What’s Going On in the World?

   Are America and the world at risk for another inflationary episode similar to the 1970s and early 1980s? Or do current low rates of inflation portend low inflation for the foreseeable future?

4. Tom Papworth on How to introduce a minimum wage without raising unemployment

   Supporters of a minimum wage are quick to point out that the introduction of the minimum wage in the UK was not accompanied by rising unemployment, as economic theory would suggest. What explains the labour market's seeming resilience in the face of what should be a very bad policy?

5. David Cowan argues Fiscal autonomy is the key to localism

   Local government is arguably one of the fundamental institutions of a free society. It ensures that local people have a significant degree of control over how the state acts in their community. Yet centralising instincts have dominated in recent decades and the central state’s power has increased at the expense of local government and other civil institutions.

6. Roger Kerr on The State of the Australian Economy

   Recently appointed Australian Secretary to the Treasury Dr Martin Parkinson gave an interesting post-budget speech on the Australian economy. Several themes are relevant to economic challenges in New Zealand

7. Hugh Pavletich on Sorry about the sewage, we are too busy gardening in the Red Zone!

   While owners of central Christchurch property are being ordered by the government’s bureaucrats at CERA to cough up demolition plans for buildings they are aren't even allowed to visit, supposedly because it’s too risky for them, council gardeners are allowed in to central Christchurch to plant flowers—presumably to make wreaths to plant around the businesses the council has killed.

8. Marga Peeters on Egypt’s demographic pressure – Where and how to create jobs?

   After the drama of Egypt’s revolution comes the economic reality – one of the catalysts for regime change was the country’s high unemployment. This column shows that the growing number of young people entering the job market will only add to the pressure. It argues that job creation in the private sector should be the number one priority for stimulating Egypt’s economic growth.