Blog Review 630


The basic problem with pay as you go pension schemes (whether Social Security or National Insurance) is that they operate in the same manner as Ponzi schemes.

It's really rather difficult to describe as illiberal something which the great liberals of the past have actually defended. It mjihgt or might not be wrong, but illiberal it isn't.

If you'd like to know why there's a shortage of maths teachers there's some clues here.

Passport to Pimlico, confirming your faith in human nature or aiding and abetting? Possibly all three?

Testing the Coasean concepts of transaction costs. Why, reflecting different production costs, do some things change in price while others remain static in price but change in quantity?

The joys of this intertubes thing. How people respond to what they see as a silly newspaper column.

And finally, yes, sadly, politics can be like this.