The Wild West ... the outback ... The new world of the 1800s was a time of true liberty. People stood on their own merits. They won or they lost and they reaped the rewards or swallowed the consequences. There were no cubicle dwelling civil servants hell bent on saving you from yourself. No planning permits no licenses no permissions no heritage overlay no bylaw no regulators no inspectors. And guess what ... it worked

This site is set up to provide a forum for a number of like minded professional economists to post and comment on contemporary issues. There are a number of regular contributors whose bios are made available on the site. Most if not all of these contributors use a pseudonym for the simple reason that they are practicing economists who must take into consideration the commercial implications of posting their opinions.

While some may feel that this is a bit of a gutless approach it is the only way we can ensure free and open discussion without jeopardising our paycheques.

Tuesday, October 6, 2009

Wowser's worst nightmare.

The question --- Why are the wowsers wrong?

The answer --- Tom Waits

What do you get when you mix tom waits, 1/2 a bottle of scotch , a hand full of anonymous prescription drugs and packet of cigarettes on a stage with nothing but a microphone ... answer one of the greatest live performances of the last half century .

If not the greatest ... you have to admit the coolest. I'm a middle aged economist with a bad haircut. I don't smoke and like any true libertarian there is no way on earth i am going to allow my children to smoke... but i have to admit deep down that there is something cool about guy like tom puffing away while he belts out a tune.


The positive value created by this one performance must equate to at least 50 disability adjusted life years.

Alcohol and other mood altering substances have a long and proud history, they are a a fundamental part of the human experience and its about time that the positive externalities associated with their consumption be factored into cost benefit analysis and more specifically preventative health studies.
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