Source: The Daily Economy
by John Phelan
“Friedman challenged the idea that governments could spend their way to prosperity. Fifty years after receiving the Nobel Prize, his most enduring lessons remain crucial — and largely ignored.” (10/29/26)
https://thedailyeconomy.org/article/fifty-years-ago-milton-friedman-upended-economic-expertise/
Source: Adam Smith Institute
by Madsen Pirie
“The recent rioting in France, and in the past in the UK, set me wondering ifrioting and looting are more likely to be done by groups that feel themselves to be marginalized. There is an important qualification. Feeling marginalized raises the odds of joining a riot. It does not explain who loots, or when. The current European wave makes the point. On October 17th some 550,000 people marched in France against the cost of living by the Interior Ministry’s count, and the processions were mostly calm. The violence and looting broke out on the margins, in cities from Limoges and Lyon to Marseille and Paris.” (10/29/26)
https://www.adamsmith.org/blog/the-marginalized-and-the-rioters
Source: Paul Krugman
by Paul Krugman
“The boom in AI-related spending is already enormous relative to the size of the U.S. economy and is widely expected to grow even bigger. Indeed, a widely cited projection by Stijn Van Nieuwerburgh of the Columbia Business School concludes, based on announced plans by major players in the industry, that this will be the biggest investment boom in U.S. history, measured as a percentage of GDP …. Well, I’m going to make a prediction: This will not happen. Instead, the splurge on AI will run into two walls that will force either postponement or cancellation of many of those announced projects.” (10/29/26)
https://paulkrugman.substack.com/p/will-the-ai-investment-splurge-last
Source: BBC News [UK state media]
“The defeated candidate in Brazil’s presidential election, Flávio Bolsonaro, has referred to himself as ‘leader of Brazil’ in a letter he published on social media after leaving the country for the United States. Bolsonaro lost to his left-wing rival, Luiz Inácio Lula da Silva, in the run-off on Sunday by a difference of 4.4 million votes, but has not conceded defeat. In the letter, Bolsonaro alleges, without offering evidence, that he was the victim of ‘electoral fraud’ and says that he will lead the opposition from the US. He left Brazil on Tuesday after failing to comply with an order to surrender his passports, a decision which Lula described as ‘a shameful act’. Bolsonaro starts his letter, which he posted on his X account, saying ‘I address the Brazilian people and the international community as the leader of Brazil’.” (10/29/26)
Source: mint [India]
“New World screwworm was found in Arizona for the first time, detected in a dog, as cases of the deadly parasite accelerate. The US Department of Agriculture confirmed the infection late Wednesday in a dog in Cochise County, Arizona. The spread of the parasitic fly, whose larvae burrow into the wounds of animals, had remained relatively contained since the pest was first detected in the US in June. Most of the early cases were limited to Texas. However, the pace of infections has increased this month, particularly in New Mexico.” (10/29/26)
Source: New York Times
“A Plan for Two Dans: How Democrats Manipulated Alaska’s Ballot.” (10/29/26)
Source: The Atlantic
“The Man Who Risked Death Documenting ISIS.” (10/28/26)
https://www.theatlantic.com/podcasts/2026/10/david-frum-show-omar-mohammed-eye-of-mosul/689185/
Source: Foundation for Economic Education
by Katrina Gulliver
“It’s becoming an annual event that I write something about Halloween. I discussed Spirit Halloween Stores in 2024, and the economics of the holiday in 2025. This year, there have been controversies about candy. What it’s made of, how much it costs, and didn’t it used to be better? One debate started when the heir to the candymaking Reese family accused current brand owner Hershey’s of besmirching his family’s legacy by (he claims) using cheaper ingredients for the peanut butter cups. In an open letter on LinkedIn, he claimed that the product was so bad that he ‘had to spit it out.'” (10/29/26)
Source: Noahpinion
by Noah Smith
“AI can do things humans researchers can’t, even in groups.” (10/28/26)
https://www.noahpinion.blog/p/a-golden-age-of-science-is-coming
Source: CBC News [Canadian state media]
“The words ‘associate membership’ were removed from a joint statement expected to be released at this week’s Canada-EU summit, according to a draft seen by CBC News. But while the statement is now expected to use softer language promising closer ties between the 27-member bloc and Canada, the head of the European Union’s executive body continued to use the term in a social media post as she landed in Montreal on Wednesday. European Commission President Ursula von der Leyen surprised many last month when she announced the EU would begin the process of making Canada its first associate member — a status that does not exist within the bloc — raising concerns among some members and Canadian politicians about what that would look like.” (10/28/26)
https://www.cbc.ca/news/politics/european-union-canada-associate-member-9.7399578