Comments on: Regressive Conservatism http://blog.iea.org.uk/?p=370 institute of economic affairs Wed, 08 Sep 2010 21:42:56 +0100 http://wordpress.org/?v=2.8.5 hourly 1 By: IEA Blog » Blog Archive » Philip Booth on Phillip Blond http://blog.iea.org.uk/?p=370&cpage=1#comment-33984 IEA Blog » Blog Archive » Philip Booth on Phillip Blond Thu, 03 Dec 2009 10:45:18 +0000 http://blog.iea.org.uk/?p=370#comment-33984 [...] blogged before on Phillip Blond - I am not just jumping on the bandwagon after the launch of ResPublica. But it is interesting [...] [...] blogged before on Phillip Blond - I am not just jumping on the bandwagon after the launch of ResPublica. But it is interesting [...]

]]> By: Youri_Kemp http://blog.iea.org.uk/?p=370&cpage=1#comment-4763 Youri_Kemp Wed, 29 Apr 2009 02:03:28 +0000 http://blog.iea.org.uk/?p=370#comment-4763 Hi Phil, You ripped him a new one. I read the article and was quite surprised-- their must be a party election underway in the conservative party. Where the nuttier you sound, the more the base appreciates your mode of thinking. In any event, thank you for the contribution. Best, Youri http://globalviewtoday.blogspot.com/ Hi Phil,

You ripped him a new one. I read the article and was quite surprised– their must be a party election underway in the conservative party. Where the nuttier you sound, the more the base appreciates your mode of thinking.

In any event, thank you for the contribution.

Best,

Youri
http://globalviewtoday.blogspot.com/

]]> By: Kris http://blog.iea.org.uk/?p=370&cpage=1#comment-4405 Kris Fri, 24 Apr 2009 10:29:58 +0000 http://blog.iea.org.uk/?p=370#comment-4405 In the town where I grew up, older people sometimes complain that in their youth, the town had 4 breweries, which have since all been put out of business by big trans-regional ones. Big corporations eliminate local diversity! However, in those days, local consumers had access to little more than those 4 brands. Today, there's hundreds of beer brands to choose from. Yes, there probably was a larger total number of breweries in the country. But any single consumer only had access to a handful of them. What happened is simply that 60 years ago, beer could not be stored and transported as easily as today, so localised small-scale production was efficient then. It no longer is so why preserve it In the town where I grew up, older people sometimes complain that in their youth, the town had 4 breweries, which have since all been put out of business by big trans-regional ones. Big corporations eliminate local diversity!
However, in those days, local consumers had access to little more than those 4 brands. Today, there’s hundreds of beer brands to choose from. Yes, there probably was a larger total number of breweries in the country. But any single consumer only had access to a handful of them.
What happened is simply that 60 years ago, beer could not be stored and transported as easily as today, so localised small-scale production was efficient then. It no longer is so why preserve it

]]> By: Peter King http://blog.iea.org.uk/?p=370&cpage=1#comment-4349 Peter King Thu, 23 Apr 2009 14:33:42 +0000 http://blog.iea.org.uk/?p=370#comment-4349 'Progressive conservatism' is a similar project to what we now know as 'New Labour'. It is the tendency to want to appear radical and new by denigrating one's own side and seeking to incorporate the views of your opponents with your core beliefs. Apparently this is a sign of sophistication. In practice, of course, it is merely an excuse not to think, in that all one is doing is creating a consensus based on other people's ideas. ‘Progressive conservatism’ is a similar project to what we now know as ‘New Labour’. It is the tendency to want to appear radical and new by denigrating one’s own side and seeking to incorporate the views of your opponents with your core beliefs. Apparently this is a sign of sophistication.

In practice, of course, it is merely an excuse not to think, in that all one is doing is creating a consensus based on other people’s ideas.

]]> By: Mark Wadsworth http://blog.iea.org.uk/?p=370&cpage=1#comment-4337 Mark Wadsworth Thu, 23 Apr 2009 11:29:05 +0000 http://blog.iea.org.uk/?p=370#comment-4337 The straw-man attacks on the efficient markets hypothesis sort of overlook the fact that there are (at least) three kinds of markets: 1. Markets for actual goods and services, which ARE efficient, i.e. bad businesses go bankrupt and new businesses flourish and super-returns are competed away over time. 2. Meta-markets, like the Stock Exchange or bond markets which are all over the place, with irrational exuberance and irrational pessimism. But so what? Nobody is forced to buy shares or bonds. 3. Natural or state-imposed monopolies, like land and property, but also airport landing slots etc, where bubbles are most likely to form. This goes in tandem with item two. The straw-man attacks on the efficient markets hypothesis sort of overlook the fact that there are (at least) three kinds of markets:

1. Markets for actual goods and services, which ARE efficient, i.e. bad businesses go bankrupt and new businesses flourish and super-returns are competed away over time.

2. Meta-markets, like the Stock Exchange or bond markets which are all over the place, with irrational exuberance and irrational pessimism. But so what? Nobody is forced to buy shares or bonds.

3. Natural or state-imposed monopolies, like land and property, but also airport landing slots etc, where bubbles are most likely to form. This goes in tandem with item two.

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