Quotulatiousness

October 22, 2014

What would Milton Friedman do?

Filed under: Economics, Environment, Politics, Science — Tags: , , — Nicholas @ 07:20

David Friedman, who we can safely assume has a better sense of the late Milton Friedman’s thoughts and beliefs than most people, disagrees with a recent Forbes article asking WWMFD:

A recent Forbes article is headlined “What Would Milton Friedman Do About Climate Change? Tax Carbon.” It reports on a forum at the University of Chicago at which several economists, including Michael Greenstone, described as the “Milton Friedman Professor of Economics at the University of Chicago,” argued that Friedman would have supported a carbon tax. The evidence for that claim was a 1979 clip from the Phil Donahue show where Milton Friedman argued that if the government is going to do something about emissions, they should use an effluent tax rather than direct regulation. He does not actually say that government should do something about emissions, only that there is a case for doing so and, if it is done, the best way to do it is by a tax on emissions.

To get from there to the conclusion that he would have favored a carbon tax requires at least one further step, a reason to think that he would have believed that global warming due to CO2 emissions produced net negative externalities large enough to justify doing something about them. The problem with that claim is that warming can be expected to produce both negative externalities such as sea level rise and hotter summers and positive ones such as longer growing seasons and milder winters. The effects will be spread out over a long and uncertain future, making their size difficult to estimate. My own conclusion, defended in past posts here (one example), is that the uncertainties are large enough so that one cannot sign the sum, cannot say whether the net effect will be positive or negative.

I do not know if my father would have agreed but I have at least a little evidence on the subject, more than offered in the Forbes article. The same issue arose in the earlier controversy over population. Just as it is now routinely assumed that warming is bad, it was then routinely assumed that population increase was bad. Forty years ago I wrote a piece on the subject for the Population Council in which I attempted to estimate the externalities associated with population. I concluded that they were too uncertain for me to tell whether the net effect was good or bad. My father read the piece and commented on it. If he had disagreed he would have said so, and he did not. It is possible that he would have felt differently in the case of climate change, but I can see no reason to expect it.

“Will the American fashion industry ever tolerate another de la Renta?”

Filed under: Business, Media, USA — Tags: , — Nicholas @ 06:57

I don’t follow fashion at all, so it hadn’t occurred to me that the recent death of Oscar de la Renta would be much more than a footnote, but Virginia Postrel would disagree:

When fashion designer Oscar de la Renta died Monday, he left neatly resolved two issues that might have otherwise marred his legacy.

The first was the question of who would succeed him. Many a fashion house has been thrown into chaos by the death of its founder. But last week, Oscar de la Renta LLC, the privately held company headed by de la Renta’s stepson-in-law Alex Bolen, said it was appointing Peter Copping, the former artistic director of Nina Ricci, as its creative director. There will be no messy crisis this time.

The second was a matter of state. De la Renta had dressed every first lady since Jacqueline Kennedy — except Michelle Obama. To have the stylish first lady shun the dean of American fashion was tantamount to a public feud. Two weeks ago, the conflict ended when Mrs. Obama wore an Oscar de la Renta dress to a White House cocktail party filled with fashion insiders. Her appearance in the crisply tailored black cocktail dress embellished with silver and blue flowers — a quintessential de la Renta balance of precise lines with ornamentation and color — preserved the designer’s White House legacy.

The clean resolution of these two issues shortly before de la Renta’s passing befits the grace of his life’s work.

But a cultural question remains: Will the American fashion industry ever tolerate another de la Renta? His brand will continue, but the classic elegance for which he was known is as old-fashioned as it is beloved. It defies the prestige accorded to innovators who “move fashion forward” rather than simply creating fresh collections. Michelle Obama wouldn’t have won all those plaudits as a fashion leader if she’d worn his dresses and followed his rules. She would have merely been another tastefully attired Hillary Clinton or Laura Bush.

Playing “The Star-Spangled Banner” with a Gun

Filed under: USA — Tags: , — Nicholas @ 00:02

Published on 3 Aug 2014

Welcome to Musical Targets! Your source for armory harmony. Please visit us at www.MusicalTargets.com, or like us on Facebook.

H/T to Adam Baldwin for the link. “The Star-Spangled Banner played with a gun is reason enough for 30 round mags.”

QotD: Ancient history

Filed under: Greece, History, Humour, Quotations — Tags: , — Nicholas @ 00:01

New interests and different locations are provided by an iPad app that gathers pages relevant to my interests, and lets me indulge particular subjects, like “Ancient History.” This gives me the impression I am learning something, and perhaps I am, but when you finish an article about Xobar the Cruel who ruled during the Middle Period of the Crinchothian Empire (140 square miles in modern-day Herzo-Slavbonia) you think “well, there’s something of which I was previously unaware, and let’s preen for a second about being the sort of person who cares about ancient history,” and then it’s all forgotten. It’s all the history of rulers, which means the history of cruelty, and the remnants of settlements, which means the history of floors and walls and tombs. I fault myself for not having a better grasp on the shadowy beginnings of civilization; it doesn’t snap into focus until the Greeks, and then you’re surprised because they have shoes and religion and government and traditions and the rest of the recognizable pillars that hold up the ceiling mankind builds to put some space between himself and the raging caprices of the gods above. Except for Egypt, where they were doing stuff for a long time, but it was weird.

James Lileks, The Bleat, 2014-04-01

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