J.H. Huebert Archive
What's wrong with advertising on the moon?
A company called Moon Publicity is getting attention from blogs and news sites because it promises to let bidders advertise on the face of the Moon through "shadow shaping" technology, using robots to carve lines onto the lunar surface.
So when you look up at the night sky, instead of seeing the same old "Man in the Moon" face, you could see the Nike swoosh or the McDonald's arches.
And what's wrong with that? Walter Block and I addressed this very question in a paper presented at the 49th Colloquium on the Law of Outer Space, "In Defense of Advertising in Space," and found nothing at all wrong with it. The Moon isn't anyone's property, so anyone is free to go use it as they see fit and to make it their property by homesteading.
Some people will still get upset, of course, but that doesn't make too much sense. What if the Moon had a naturally occurring "swoosh" on it all along? Then presumably the environmentalist types would get mad if we disrupted that. Well, why should we prefer a given design only because it's naturally occurring? Why not favor a face for the Moon that was actually designed to appeal to as many people as possible instead of something totally random?
Also, advertising benefits consumers, so Moon advertising could benefit millions or billions of people. On the other hand, if certain people hate the prospect of Moon advertising so much, they could always offer Moon Publicity money not to advertise on the Moon.
Probably this whole thing is a hoax and Moon ads will remain science fiction. But if not, then why not welcome the change? As a product of voluntary actions on the market instead of government coercion, Moon advertising would be more laudable than the original Moon landing.
(HT Reason.)
What will happen if the credit-card reformers win?
What will happen when Congress passes and President Obama signs the pending credit-card legislation?
Probably everyone will pay higher interest rates on cards in the first place, and some people will be denied cards who otherwise would have got them. And where will those people turn when they can't get credit through their credit cards? As The Onion has explained, their only choice may be a loan shark -- who will be unconcerned with federal legislation and rather less pleasant in his collection practices. This will be especially so in states, such as mine, that have banned "payday lending."
Sure, probably fewer people will go to loan sharks than would have run up debt on cards, since the loan shark is less convenient and the penalties for late payments perhaps more obvious. But those who need short-term credit (and remember, very short-term credit on a card is free) will be deprived of a much safer, more consumer-friendly option.
There are reasons why a fully free market might result in less credit-card issuance and use, but adding more legislation on top of our current system only infringes on consumer freedom and, contrary to the politicians' supposedly good intentions, may expose the most vulnerable to more risk of serious harm.
(More from me on credit-card legislation and regulation here, here, and here.)
The Case for an Undergrad Degree at Grove City College
Walter Block rightly notes that Loyola University New Orleans and Grove City College are the two best places in the U.S. to receive an Austro-libertarian undergraduate education. (Worldwide, I would add Universidad Francisco Marroquin to the list.)
Walter lists some advantages he believes Loyola has over Grove City. Because I'm not familiar enough with Loyola, I cannot say which school is superior. But I must point out reasons why Grove City, my alma mater, holds it own in comparison.
1. Block suggests that there are more Austrian economists at Loyola than at Grove City. But by my count, four out of six Loyola economists are Austrians, while two out of three GCC profs are Austrians -- percentagewise, a tie. Plus, although the third GCC economist is not an Austrian, he is certainly pro-market. Also, adjunct Mark W. Hendrickson is an Austrian. I don't know if Hans Sennholz's son, Robert Sennholz, is still an adjunct (he was when I attended), but he would be yet another. The fact that the late Hans Sennholz was there and left his mark on the institution and its alumni counts for something, too.
2. Block suggests Loyola econ profs have more publications per capita. I'm sure they win this race based on Block's prodigious output alone. But what difference does this make to students? Probably little to none. And in my experience, the GCC Austrians are first rate teachers (as, I'm sure, are Loyola's).
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