Cocaine and state/capital formation

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Cocaine and state/capital formation

Postby joefrancis » Tue Feb 09, 2010 6:14 am

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Re: Cocaine and state/capital formation

Postby dtcochrane » Tue Feb 09, 2010 8:39 am

My Masters' level macro prof actually taught that Olson article. Of course, his point was to justify unfettered free markets, since states are illegitimate power institutions. The inability of such people to look at the real world and the illegitimate power of business, or in the case of Ron Paul type libertarians, to believe in the fairy tale of unfettered free markets, is truly stunning.
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Re: Cocaine and state/capital formation

Postby joefrancis » Tue Feb 09, 2010 8:44 am

Yep, the Olson article may not have been the best citation in retrospect. He had some good ideas in some regards but was oh so blinkered in others.
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Re: Cocaine and state/capital formation

Postby joefrancis » Tue Feb 09, 2010 11:17 am

By the way, in the attached paper, Carlo Cipolla describes a third type of bandit unmentioned by Olson: the stupid bandit - the worst type of all! It's a fun little paper that satirises much economic theory.
Attachments
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