Posted: July 16, 2010 in Bubba posts

I love the Swedes – collective and individualistic at the same time, anxious as hell and with rationality as some sort of religion. With some help from K (and a few beers) I was able to watch Johan Norberg’s Overdose (you also get some crazy Swedish TV-ads as a bonus). I wonder if Norberg is really a Swede: liberal, a Cato fellow, a Trekkie? Still, he sounds like a muppet when he speaks so I guess he is Swedish after all. Overdose is interesting because it can be used by both the autonomous left and the libertarian right to argue that when the free market and the government jump in bed together the result is often one ugly bastard. Even though the idea that we have socialism for the rich and capitalism for everyone else in the U.S. is far from new I think people should watch this and discuss the institutional theoretical aspects of capitalism, for example, what is a free market? Can such a thing ever exist? This film also show how afraid we are of failure and that Baumol’s notion of destructive entrepreneurship is very much a reality. As usual, movie makers (for some reason that is beyond me) give legitimacy to so-called forecaster  that are right after the fact which is as useful as to ask lottery winners how to be rich and use that information to create strategies, new forecasts etc.



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