A trend that is true on an individual level does not necessarily translate into a similar trend on a societal scale. The most famous of all aggregation debates is probably the Keynesian paradox of thrift. Keynesians argue that too much saving by individuals could be unproductive. Too much saving eventually may make everybody poorer because […]

Before I begin, I must admit that there is much reading for me to do to understand the current debate on carbon emissions trading in Australia. I have not been following Australian affairs as closely as I should; I am still stuck with the New York Times, the Wall Street Journal and to a lesser […]