Some top quotes …

in order to make up for my abandoning the blog for a day owing to us relaunching a website, soon.

Here is the world’s top blogger Cowen hoisting an excellent quote about Benthamism:

Bentham is a total mess. One commentator said that Benthamite utilitarianism is a philosophy that tells you what to do when you have the data that you cannot obtain. This is it in a nutshell.

Here is the gloomiest post for an Irishman that I have ever read:

For most nations, gross national product and G.D.P. are near-identical, but in Ireland they are not. When we adjust Ireland’s figures accordingly, the situation is dire. The budget deficit was about 17.9 percent of G.N.P. in 2009, and based on European Commission projections (and assuming the G.N.P.-G.D.P. gap remains the same) it will be roughly 14.6 percent in 2010 and 15.1 percent in 2011, while the debt-to-G.N.P. ratio at the end of this year is expected – by our calculation – to be 97 percent, and 109 percent at the end of 2011. These numbers make Ireland look similarly troubled to Greece, with a much higher budget deficit but lower levels of public debt.

The reason, they say, is: “that roughly 20 percent of Irish gross domestic product (G.D.P.) is actually “profit transfers” that raise little tax for Ireland and are owned by foreign companies.”

Brad DeLong – the Jekyll and Hyde of blogging – unveils Jekyll in this beautifully balanced discussion (mostly with himself) of whether Naked CDS’s should be banned.

More assaults on Red Toryism in this essay. Tipping the hat at the League of Ordinary Gents.    The author writes

[liberalism] doesn’t require a re-education program hostile to family, as Deneen fallaciously accuses. It is silent on the role of family–whether that bond be an obstacle or a nurturing spring. What it says is that it is for you to decide these things. The State may be modeled on “preference neutrality,” but you as an individual are not. The authority of that moral judgement ultimately resides in you. It’s called thinking for yourself.

Have fun.

Published by freethinkingeconomist

I'm former special adviser (Downing Street 2017-19, BIS from 2010-14), former FT leader writer and Lex Columnist, former financial dealer (?) at IG, student of economic history, PPE like the rest of them, etc, and formerly in my mid-40s. This blog has large gaps for obvious reasons. The name is dumb - the CentreForum think tank blog was called Freethink, I adapted that, we are stuck now.

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