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3.17.2001 5:49 PM In academic economic thought, I ally myself most closely with the Austrian School of Ludwig von Mises and Friedrich Hayek. I firmly believe that Hayek's essay "The Use of Knowledge in Society" is the greatest contribution to economics in the 20th Century. As opposed to those economists who show off their mathmatical skill (and physics envy) with their razzle-dazzle models that make heroic assumptions, Austrians focus squarely on the individual in their economic analysis. Peter Boetke has a nice, simple introduction to Austrian economic thinking. "An Essay on Austrian Economics" Sean Hackbarth | 4:58 PM Jim Glassman sees software companies like Microsoft, Adobe, and Symantec as defensive tech stocks in this bear market. He likes software companies because "Software is like the computer chip industry except you don’t have to build a factory. It’s like the pharmaceutical industry except you don’t need FDA approval. It’s like Hollywood without the $20 million salaries." In other words, software companies have low capital costs; they rely on "gathering a bunch of really smart people together to create something new and special." The downside is that low capital costs allow some other company to gather their own bunch of smart people and make something better. "'Defensive' Stocks in the NASDAQ" Sean Hackbarth | 3.16.2001 8:45 PM I'm losing more money. Sean Hackbarth | 3.15.2001 10:22 PM Rush Limbaugh has watched the dot-coms become dot-bombs and learned from their mistakes. Limbaugh is now offering a subscription service where subscribers can listen to 2-week archives of his radio show, get links to his famous "stack of stuff," and recieve occasional "audio blasts" on current events. Rush waited for the free-for-all Internet business to demonstrate its unprofitability and has a shot at making some serious dough. He offers a specialized product that can't be commoditized to a niche audience. It's a second generation Internet business model that many will watch to see if it succeeds. Sean Hackbarth | 3.14.2001 10:20 PM America's favorite bow hunter/rock star says Napster is "un-American."
But could the record companies please realize the demand for easy-to-use music downloads? "Cat Scratch Thiever" Sean Hackbarth | 8:36 PM With St. Patrick's Day arriving this weekend, I re-read Thomas Cahill's How the Irish Saved Civilization. This delightful book tells the story of Christianity coming to Ireland and vital knowledge returning to Europe from the Emerald Isle. The Celtic barbarians take up the faith through the determined missionary work of St. Patrick. These new high-strung Christians then took to copying books--any and all they could get their hands on. So, while Rome was sacked and continential European church leaders fled to the confines of their cities, literacy deteriorated and books were lost. A few centuries later, like St. Patrick, Irish monks set off on their own missionary journeys taking their copies of Greek and Latin classics with them. That is, in Cahill's words, "how the Irish saved civilization." The prose is lyrical. Cahill obviously loved writing about the Irish. Pre-Christian Ireland is displayed in all its (sometimes) grandiose harshness. The book is a great example of good popular history: it's short, focused, learned, and the reader is never looked down upon. "Who Saved Civilization? The Irish, That's Who!" Sean Hackbarth | 6:13 PM Angus has gone for the ADD look on his home page. Sean Hackbarth | 5:58 PM The free market strikes again! Disposable cell phones and pre-paid credit cards offer privacy-seeking people some relief. "Prepaid Phones and Privacy, Too" Sean Hackbarth | 3.13.2001 2:56 AM Wired News has a great article on the Russian hacker/cracker culture. I liked one computer guru's bravado: "We call Russia the Hackzone because there are so many of us here, and we are so good at what we do." "Inside Russia's Hacking Culture" Sean Hackbarth | 2:17 AM The Nasdaq is below 2000 for the first time in over 2 years. Along with that, Cisco's stock is at its lowest level since December 1998. I guess last summer wasn't such a good time to jump into QQQ and CSCO. But I'm looking at the long-term. John Chambers' company is still numero uno in networking equipment. People are still thinking of new ways to connect and use the network everyday. Technology isn't going away. The router king will just have to wait until telecom spending picks up. "Tech Stocks Drag Nasdaq to More Than 2-Year Low" Sean Hackbarth | 3.12.2001 3:25 AM Sonicnet interviewed DJ John Digweed on the release of his latest mix CD Global Underground: Los Angeles. John Digweed's Global Foundations" Sean Hackbarth | 1:10 AM The Palm Beach Post thinks Al Gore won the election because of the all the overvotes from the infamous butterfly ballot. This is just pure speculation. Former Montana governor, now private citizen, Marc Racicot put it simply, "You're [Palm Beach Post] trying too hard to find a correlation here. You don't know these people, you don't know what they intended." "Over-votes cost Gore the election in FL" Sean Hackbarth | |
ABOUT When I'm not pondering the fate of the universe, I'm reading, writing, or selling books. Here you'll find comments on politics, culture, books, and music. Not necessarily in that order. MAILBOX sean--at--theamericanmind.com  Support democracy and human rights in Iraq! 
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