William A. Niskanen: Economist, Scholar, Foe of Political Capitalism

By Robert Bradley Jr. -- June 11, 2018 3 Comments

[Note: This will be Niskanen Week with forthcoming posts on his views on climate-change science, economics, and public policy. This is particularly relevant with the contradictory policies of the Niskanen Center under its founder and head, Jerry Taylor.]

The longtime chairman of the Cato Institute, William N. Niskanen, passed away in 2011 at age 78. We shared the podium a few times on energy issues, and I admired his Enron project at Cato that resulted in two books, Corporate Aftershock: Lessons from the Collapse of Enron and Other Major Corporations (2003) and After Enron: Lessons for Public Policy (2005).

Like virtually everyone else who knew him, I remember Bill as a scholar and gentleman. He had one tone of voice and reliably imparted insightful logic. He was a scholar’s scholar, a role model for the rest of us.

Political Capitalism as a Distinct Economic System

By Randall Holcombe -- March 26, 2018 1 Comment

Editor Note: Three years ago, Randall Holcombe, the DeVoe Moore Professor of Economics at Florida State University, published an important essay in the Cato Journal, “Political Capitalism.” MasterResource is pleased to republish his summary as Part I of our four-part series. The lineup is political capitalism (today), contra-capitalism (tomorrow), and business-history scholarship (Wednesday and Thursday). Professor Holcombe’s contribution is also timely given the recent rent-seeking-friendly $1.3 billion, Republican/Democrat, 2,322-page Consolidated Appropriations Act of 2018.

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“While political capitalism as an economic system has barely been recognized, the building blocks that form a theoretical foundation for political capitalism are firmly in place and well-accepted. In political science and sociology, the ideas of elite domination and biased pluralism are mainstream concepts that are a fundamental part of political capitalism.”

T. Boone Pickens: Contra-Capitalist (a ‘man of system’ sought more fame and fortune)

By Robert Bradley Jr. -- January 31, 2018 7 Comments

“The two greatest enemies of free enterprise in the United States … have been, on the one hand, my fellow intellectuals and, on the other hand, the business corporations of this country.”

– Milton Friedman. “Which Way for Capitalism?” Reason, May 1977, p. 21.

“To put it plainly, T. Boone Pickens is out to save America.”

– Carl Pope (Sierra Club). Quoted in Dean Calbreath, “Pickens Pitches Plans to Shift U.S. Away From Oil,” San Diego Union Tribune, June 25, 2008.

They are not against capitalism. They can be very charismatic, in the know, and mainstream. They may be industry leaders. They are always politically correct and receive good press. And they can, often do, pledge allegiance in the abstract to the American way of free enterprise.…

Bradley Posts at IER, Forbes: 2017

By Robert Bradley Jr. -- December 20, 2017 No Comments

Many readers of MasterResource are undoubtedly aware of the ‘Featured Analysis‘ blogs at the Institute for Energy Research (IER). I blog at IER (my employer) in addition to my MasterResource work.

Below, my posts at the IER website are linked. In addition, my ‘Political Energy‘ posts at Forbes.com are listed as a reference guide. Here are the links to my 2017 work for those interested.

IER Posts

“Kathleen Hartnett White: A Scholar for CEQ” (October 18)

“Scary Sea Level Rise? Check Your Science” (September 8, 2017)

“Al Gore’s Energy Problems” (August 25, 2017)

“Climate Optimism, Energy Realism for the Next Generation” (August 11, 2017)

“Milton Friedman on Energy” (July 31, 2017)

‘Deep Decarbonization’ vs. Direct-Use Natural Gas (July 14, 2017)

“James Hansen’s Failed Ultimatums: A Free Market, Anyone?”…