As noted on my media page, I’ll be delivering a speech entitled “How Intellectual Property Hampers Capitalism” at the Mises Institute Supporters’ Summit 2010, Oct. 8-9 2010, Auburn Alabama. The conference’s theme is “The Economic Recovery: Washington’s Big Lie.” There’s a dynamite list of speakers.
My 6 year old boy is begging me to come. I may bring him, but told him we had to bone up even more on Austrian economics if he is to come with me to Auburn. So today in the pool we spent about 45 minutes going over time preference and interest, and a central lesson of Hazlitt’s Economics in One Lesson (also in Bastiat’s The Law, if I’m not mistaken–we almost named our new poodle Bastiat, but instead named him Louie von Mises), which is the idea that benefits of state spending are visible but the costs are unseen. We also went over what makes a law a good or bad law, with examples such as laws against: murder, using drugs, committing suicide, committing robbery, not paying taxes, offering to pay someone less than a minimum wage (he’s already well on his way to libertarian radicalism). He got them all right (no offense, most of my family, friends, and co-workers).