Hey, fans of The Money Illusion and Overcoming Bias. Bob Murphy has a defense of the Austrian Business Cycle Theory from rational expectations based on Bayesian agents receiving a noisy signal (the part arguing against the previously prominent Prisoner’s Dilemma defense has been excised for your enjoyment). And if his heresy on 100% reserve vs free banking isn’t already enough to expel him, that he favorably cites Milton Friedman on monetary matters should seal the deal. I suppose his defense of intelligent design should grant him immunity to the “cosmotarian” charge though.

Those of lesser intellect will have none of this abstract ivory-tower squid-ink regarding economic downturns. Instead they blame da Joos. The Boston Review found that being a Democrat and of low education both correlate with blaming them, while being a Republican or more educated makes you less likely to display anti-semitism but to blame the people that caused it by borrowing money they couldn’t afford to pay back. A common anti-semitic trope these days is that while Jews discourage ethnocentrism in others they greatly indulge in it themselves. That may seem somewhat understandable given the greater acceptability of Jewish arguments against intermarriage, but this survey also showed that while priming survey-takers with a paragraph on Bernie Madoff disclosing his ethnicity made the general public significantly more hostile to stimulative tax cuts for businesses, it had no effect on Jews. Maureen Dowd echoed latin american populists in blaming “blue-eyed” Wall Streeters, so in response Steve Sailer came up with a very rough estimate of the representation of different ethnic groups in stories about the gooey kaplooie here.

Saying impolite things about matters related to group conflict whether ethnic/racial, gendered & religious is common sport among weirdos who pride themselves in “stalking the wild taboo”. More in keeping with the original use of the term is Robert R. Arthur’s You Will Die: the Burden of Modern Taboos. Part 1 of Mangum’s* review is here. I remember once a friend of mine asking “How come snot, barf, blood, piss and crap is disgusting once it’s outside our bodies but perfectly normal inside?”, and while the answer should be obvious I thought it quite profound. Then I belched.

*He’s also the author of the great line about Glenn Beck, “[H]e calls himself “libratarian leaning”. Yeah, like a drunk taking a sobriety test is pavement-leaning”.