“Latvian Prime Minister Andris Kulbergs was set to retain power and form a coalition after his centrist United List won parliamentary elections on Sunday, the biggest in the country’s post-independence history. While the result is expected to reinforce the Baltic country’s pro-European and pro-Ukrainian stance, populist parties also made significant gains. … Populist parties, boosted by support from Latvia’s Russian-speaking minority, also had a good night after an election campaign dominated by fears over neighbouring Russia, the cost of living and other social issues.” (10/03/26)
Source: Ludwig von Mises Institute
by Shahid Islam
“Introductory economics textbooks devote considerable attention to market failure: monopoly power, externalities, public goods and asymmetric information. However, government failure deserves the same scrutiny. Markets are made up of imperfect human beings and so are governments. Legislators, regulators, and civil servants possess limited knowledge, imperfect foresight and incentives of their own. Evidence of market failure is not evidence that government intervention will improve the outcome. The relevant comparison is between feasible alternatives.” (10/02/26)
“The war between the United States and Iran is no longer just a confrontation between Washington and Tehran. A second contest is taking shape alongside and behind it. China is not fighting the United States directly, but its economic, technological and diplomatic links to Iran are complicating Washington’s strategy and ability to win the conflict.” (10/02/26)
“For laissez-faire liberal Herbert Spencer (1820-1903), political trouble began with ‘the unhesitating belief … that evils of all kinds should be dealt with by the State.’ The fatal first step is a government promise to rescue people from their own bad choices, such as their preference for indolence and other irresponsibility. That was a mistake because, as Spencer wrote elsewhere, ‘The ultimate result of shielding men from the effects of folly, is to fill the world with fools.’ Shielding people from their folly is not only bad in itself, but it also sets in motion a perverse political dynamic that, if allowed to persist, would doom freedom itself.” (10/02/26)
“President Trump repeatedly berated Sen. Tom Cotton (R-Ark.) on Saturday over his stance on a daylight savings [sic] bill after posting the Republican Congress member’s cell phone number on social media. In a morning Truth Social post, the president encouraged his supporters to call the senator and urge him to back legislation that would make daylight savings [sic] time the permanent standard time. After Cotton stood by his position in a brief statement shared later Saturday, which didn’t directly mention the president or the leak, Trump went back on the offensive. … Trump blamed the GOP lawmaker for holding up the bill in the upper chamber after the House passed the legislation in July with broad bipartisan support.” (10/03/26)
“Sal checks in from lunch in Florida on his way to Prague, where he’s speaking at Dark Prague on agorism and crypto anarchy. … Mark Edge is joined by Jody Underwood of Education Options (EdOpt) to talk school choice in New Hampshire. They cover tuition-free charter schools, Education Freedom Accounts, runaway school spending, and why the families who could benefit most are often the hardest to reach.” (10/02/26)
“The headline news is good for a change: Energy flows through the Strait of Hormuz are picking up. As of Monday, a seven-day average of 13.5 million barrels of crude oil were transiting the waterway, roughly matching pre-war levels. Two questions arise out of this happy circumstance: First, what has changed operationally? Second, why aren’t markets more jubilant? The second question is easier to answer. A week of good flows does not erase six months of supply disruption.” (10/02/26)
