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That classic line from Tom Sowell is the basis for my Freeman column this week, which looks at whether rebuilding Japan to withstand a 9.0 earthquake is the obvious thing to do.
Posted by Steve Horwitz on March 24, 2011 at 08:01 AM | Permalink
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Always be suspicious of people who propose corner solutions.
Daniel Kuehn |
March 24, 2011 at 08:14 AM
A timely and relevant column.
Bad policies have long-term consequences.
When Alaska's North Slope opened to development, Congress in its wisdom decreed that the oil must be shipped to the US. That was an uneconomic decision. The logical destination was and is Japan. Cutting Japan off from its cheapest oil source led them to rely more on nuclear power.
Jerry O'Driscoll |
March 24, 2011 at 11:58 AM
Unfortunately, before the people of Japan ever spare a thought for rebuilding their country (not knowing which parts will still be habitable), they need water! Your readers might be interested in how to treat their radioactively contaminated drinking water:
A Japanese translation seems underway, see comment by Takuya there. Maybe someone wants to help with other languages?
March 24, 2011 at 03:11 PM
March 25, 2011 at 12:27 AM
This is an uneconomic decision. http://www.newtsk.com/ Japan is more dependent on nuclear power stations.Though they face several disasters often dey do not give up dere hard work.
Trade industry |
March 25, 2011 at 12:30 AM
What happens when the *rate* of tradeoff is not clear?
Mario Rizzo |
March 25, 2011 at 10:34 PM
I like the title-quote very much as a definition of enonomics is and what it can promise. But isn't it more like: "There are no solutions, only tradeoffs (and we're not sure or anyway do not agree as to what is offtraded by what and to what degree)"?
Frederik Marain |
April 09, 2011 at 12:55 PM
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