June 19, 2007
A Cowen Moment?

You've heard of a Schelling Point?

Well I think we need a term for Tyler Cowen's work on the economics of culture. I recently experienced a "Cowen Moment" as I was I was sitting in an Irish pub in Aix-en-Provence, France, eating Italian food, listening to a guy with a guitar sing Eric Clapton. And yet it all seemed very ordinary.

Posted by Robert Lawson at 09:03 AM in Economics

The statesman who should attempt to direct private people in what manner they ought to employ their capitals would not only load himself with a most unnecessary attention, but assume an authority which could safely be trusted, not only to no single person, but to no council or senate whatever, and which would nowhere be so dangerous as in the hands of a man who had folly and presumption enough to fancy himself fit to exercise it. -Adam Smith

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