Much of the blame for the current financial crisis has been aimed at Wall Street and the bankers who, the story goes, created toxic debt instruments and then lined their own pockets with the proceeds. In “Verdict on the Crash: Causes and Policy Implications,” a new analysis from economists and scholars — including Acton Institute Research Director Samuel Gregg — the London-based Institute of Economic Affairs comes to the opposite conclusion: It was governments and regulators who erred. Moreover, the IEA report says, the people most often berated for their part in the crisis – the hedge fund managers and those who run tax havens – are among the least guilty. The report also spells out the need for a “radical overhaul” of the financial system to guard against a repeat of the errors that led to the crisis.

Read more on New report: Verdict on the Crash…

Back in September I posted an announcement about a new book that contributed in interesting ways to our understanding of patent/intellectual property issues. Now Julio Cole’s full review of the book in the Independent Review is available online. An excerpt:

Read more on Cole on “Patent Failure”…

I made a mental note of it awhile back when I heard that there was a “Christian” version of the immensely popular Guitar Hero video game franchise in the works. Wired recently reviewed Guitar Praise – Solid Rock here.

Read more on Sonseed > Christian Guitar Heroes…

Via Drudge, Australia is joining none other than China in censoring the internet. Here’s a surprising endorsement/justification the writer uses to bottom line the article:

The Australian Christian Lobby, however, has welcomed the proposals. Managing director Jim Wallace said the measures were needed. "The need to prevent access to illegal hard-core material and child pornography must be placed above the industry’s desire for unfettered access," Mr Wallace said.

I’m not endorsing porn. But earth to Mr. Wallace: Scan up a few ‘graphs and note how Chinese Keepers of Internet Purity shield their masses against illegal "spiritual movements." Makes me wonder how long the internet will be available to Christian "industries" like outreach and evangelism. Not too long, considering some Christians are readily turning those reigns over to government.

Read more on Careful what you wish for…….

Although many scientists cultivate the popular image of the benevolent, detached savant toiling away for the betterment of mankind, the fact remains that Ph.D.s in physics or genetics are subject to the same weaknesses as the rest of us. The image has some currency because there is an element of truth in it: scientists in many fields have contributed in remarkable ways to the material progress of humanity. That contribution should not be underappreciated.

Read more on Political Science…

As the US-incited global financial situation continues to worsen, ever shriller assertions of blame will be cast on one culprit or another. It’s my belief that any development of this magnitude always stems from multiple and interacting causes, but that doesn’t make very good copy.

Read more on Demonizing Deregulation…

As I’ve said before, some of the most interesting debates are those that break down along atypical lines: for example, by splitting dedicated limited government advocates rather than pitting them against statists. Back in 2001, the Journal of Markets & Morality conducted a controversy between two libertarian-leaning economists, Julio Cole and Paul Cleveland, concerning copyright and patent law.

Read more on Patent Manipulation…

It took awhile, but after its release in 2005, the latest installment of the popular computer game Civilization IV was received warmly by many cultural commentators. Civilization IV, or CivIV for short, was hailed alternatively as “a video game for the ages,” and “a kind of social-sciences chessboard that blends history and logic into a game that demands a long, long attention span.” The basis for much of this regard among even conservatives as “crunchy” as Rod Dreher was a piece in the Weekly Standard, highlighting the background of the game’s founder, Sid Meier.

Read more on Review: Civilization IV…

On Wednesday the European Commission again delayed a decision on whether European farmers may grow more genetically modified (GM) crops. The commission claimed that more scientific analysis is needed before three new crops can be approved. But curiously, the European Food Safety Authority (EFSA) has already twice analyzed the crops and found that they pose no danger to public health.

Read more on European Commission Attacks its Own Scientists…

When John concluded his gospel, he supposed that if all of Jesus’ doings were written down, “that even the whole world would not have room for the books that would be written.”

Read more on Bibles, Profits, and Technology…