Category: Quick Notes
Posted by: Admin
"the decision to buy locally is essentially the decision to forsake comparative advantage, every unit of agricultural output will be more resource intensive than it would be under specialization, division of labor, and trade." Art Cardon, Mises blog July 2008
Category: Quick Notes
Posted by: Admin
The current campaign to "save energy" is to be allowed to "run its full course" in spite of the heavens having opened and rain bucketing into the hydro lakes in enough volume to stave off crisis (what crisis). Nonetheless the campaign is to continue at significant cost in print media and television advertising dollars.

Calls to "save" were already looking jaded with the Minister having stated before the campaign even began that he believed we would not "run out".

Moral suasion can, to some extent at least, be an effective policy instrument provided there is credibility in the motive and due reward for the effort. Tinker with either of these or be found to be crying wolf and the effectiveness is likely to drop away sharply - and pretty much at just the time you genuinely need it not to.

What then is to be gained? Nowhere near as much as might be lost especially net of campaign costs when campaigning for nothing....