Wednesday, June 15, 2011

an interesting quiz

From the Mises Institute, courtesy of Vox Populi.  I scored 93%, but that was partially due to some "discretization error" where there was some ambiguity between answers and some economic questions not being asked in a 25 page quiz.  Given that economists routinely write hundreds to thousands of pages, this is not surprising.

My key ambiguities on where I fall, economically speaking, are in the questions of public goods and also involuntary transactions.  Regarding the latter, I tend to wonder if transactions involving certain drugs (e.g. heroin, cocaine) and prostitution are truly voluntary, and I also extend that question to certain transactions involving labor and credit.  If we establish that some transactions tend not to be voluntary, of course, we cross the line between justifiable economic freedom and a reason to regulate or criminalize some activities.

In short, a government of about the size and type that was prescribed in the Constitution.  Except for that "slavery" thing, of course.

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