QT: Niall Ferguson TED Talk on the Great Divergence

Niall Ferguson provides a TED talk summary of his forthcoming Civilization: The West and the Rest (2011). In this talk and book (I've read reviews of its publication in the UK this spring), he provides an account of why China, especially, fell back from the West (Europe, U.S./Canada/and Autral-asia) at the beginning of the 19th century, and how China, other Asian nations, and perhaps Latin America, have closed that gap and will likely soon end it. An intriguing and important issue. Ferguson does a fine job of making his points.

QT: Tyler Cowen on Republican Confusion

Tyler Cowen argues persuasively that Republican no-tax ideology (or should we say zealotry) will lead to higher taxes and a worse fiscal position for the U.S. government. Ironic, yes, like a lot in life. Getting through it requires thought, which the Republicans are woefully short of. So sad.

QT: NNT on Taxes

I think that he has a very good point here. Of course, some investors, say Warren Buffett & Charlie Munger, have exercised significant skills (including self-restraint), but a fair amount of success in this area is a matter of luck. Add Robert Frank's suggestion of a progressive tax on expenditure (if this is the right term), we'd probably all be better off.