Cafe Hayek: Jason Brennan on Michael Sandel on Queuing

            by DON BOUDREAUX             Over at Bleeding Heart Libertarians, Jason Brennan summarizes an analysis that he and Peter Jaworski will make in response to Michael Sandel's argument that (quoting Brennan�s interpretation of Sandel�s claim) queuing distributes goods equally, while markets distribute according to ability and willingness to pay. Since people have unequal ability to pay, markets distribute goods unequally.  They are in that way unfair compared to queuing.             Jason does a nice job exposing some of the many flaws in Sandel�s argument that queuing is more egalitarian than are markets.  Here�s yet one additional problem with Sandel�s argument.  (Jason and …

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The Reality of an All-Time High US Stock Market

            It is surprising to see how many people are optimistic about the economy, citing for example the all-time high US stock market.  Surely they see that this is an illusion, propped up by an all-time high intervention in the markets by The Federal Reserve.  With a never-ending Quantitative Easing expiriment by The Fed, the questions must be asked: How massive are the bubbles being created in the student loan market, bond market and derivitives market…and when will they pop?

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FEE: Why Is There a Dole for Farmers?

            by DOUG BANDOW             Uncle Sam is broke. After running up $5 trillion in deficits over the last four years, Washington is borrowing another $845 billion this year. And assuming Congress neither adds expensive new programs nor expands expensive old ones, the federal government will run up another $7 trillion in red ink over the next decade.             Government outlays must be cut. But when the sequester hit, reducing the $3.6 trillion budget by a paltry 2.3 percent, much of Washington reacted in shock and horror. The savagery, the inhumanity! Of course, the standard response to most any proposed cut …

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