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Showing posts with label Capitalism. Show all posts
Showing posts with label Capitalism. Show all posts

Tuesday, November 14, 2023

Slavery and Capitalism


For John, BLUFI have heard it suggested that Slavery creates production and wealth through the power of the oversear.  Not everyone agrees.  Nothing to see here; just move along.




From Quillette, by Blogger Matthew Lesh, 22 Jun 2020.

Here is the lede plus three:

It has become a common trope that slavery and the slave trade is responsible for the industrial revolution, if not our entire modern prosperity.  Slavery is often called capitalism’s “dark side.”  A recent column in the Guardian claimed the slave trade “heralded the age of capitalism” and Guardian columnist George Monbiot said on Twitter:  “The more we discover about our own history, the less the ‘trade’ on which Britain built its wealth looks like exchange, and the more it looks like looting.  It meant extracting stolen resources and the products of slavery, debt bondage and land theft from other nations.”  The same line has been taken by London Mayor Sadiq Khan, who tweeted:  “It’s a sad truth that much of our wealth was derived from the slave trade.”

But what did the “father of modern economics,” Adam Smith, actually think about slavery?  And is it responsible for our modern prosperity?

Adam Smith argued not only that slavery was morally reprehensible, but that it causes economic self-harm.  He provided economic and moral ammunition for the abolitionist movement that came to fruition after his death in 1790.  Smith was pessimistic about the potential for full abolition, but he was on the side of the angels.

Smith’s The Wealth of Nations, published in 1776, contains perhaps the best known economic critique of slavery.  Smith argued that free individuals work harder and invest in the improvement of land, motivated by their interest in earning a higher income, than slaves.  Smith refers to ancient Italy, where the cultivation of corn degraded under slavery.  The cost of slavery is “in the end the dearest of any,” Smith writes.

There is a lot of bad history out there.

Hat tip to the InstaPundit.

Regards  —  Cliff

Monday, January 24, 2022

Squeezing the Border


For John, BLUFThe COVID-19 Pandemic, like life itself, requires tradeoffs in which it is not all win-win.  Sometimes the Government Bureaucrats choose poorly.  Nothing to see here; just move along.




From The Conservative Three House, by Sundance, 16 January 2022.

Here is the lede plus three:

The cross border vaccine mandate for truckers in/out of Canada is now in effect.  The U.S. vaccine mandate takes effect on January 22nd.

It will take a few days to see the consequences, but there will be consequences.

Keep in mind, any impact is taking place in a supply chain system that is already tenuous and unstable at best.  A small disruption that may have been minimally significant against a fully operational supply chain, is more likely to be a much bigger disruption in a supply chain that is already under a severe amount of demand side stress.  Somewhere in the range of 16,000 to 38,000 daily loads are likely to be impacted.

When questioned about this, Canadian Intergovernmental Affairs Minister Dominic Leblanc says the trucking industry “has had adequate time to prepare for this.”  Keep in mind, the mandate was announced 45 days ago (November 30th).  According to the Canadian government, changing the structural rules for all the logistics and commerce in cross border shipping, 45 days is enough notice.

Yes, plan for shortages.  I am not thinking the bureaucrats have thought this out long term.  Or maybe they didn't talk amongst themselves.

As for the Truckers, "Last Year's Heroes, This Year's Zeros."

The good news is that we have a capitalist system, which gives flexibility to the economy, allowing individual entreprauners to adjust here and there, keeping the economy going.^nbsp; At least let us hope so.

Hat tip to the InstaPundit.

Regards  —  Cliff

Tuesday, October 19, 2021

Specialization May Be Over


For John, BLUFOur economy works, and works well, normally, because the system apportions work to those with skills and a reasonable price.  We tend not to pay attention to race, creed or other factors.  However, that seems to be slipping out of favor.  Nothing to see here; just move along.




JOHN SEXTON Oct 18, 2021 7:33 PM ET.

Here is the lede plus one:

Oberlin College is the pricey liberal arts school which lost a massive defamation lawsuit filed by Gibson’s Bakery back in 2019.  Oberlin has a fancy house called Baldwin Cottage which was built in 1886 and which is currently home to the Women and Trans Collective.  The school’s website describes the collective as “a close-knit community that provides women and transgendered persons with a safe space for discussion, communal living, and personal development.”  Basically it’s a special dorm that has living space for about 30 people.

The student paper, the Oberlin Review, reported last week that the school decided to upgrade the radiators in Baldwin Cottage but, to the dismay of some residents, they sent “cisgender men” to do the work.  [emphasis added]

Very nice looking house.  It reminds me of 9 West Butterworth Street, Wenonah, NJ, 08090.

Is this the beginning of some brave new world, where is is segregation now and forever?  Are the people assigned to Baldwin Cottage prepared to do it all themselves?  Plumbing, electoral, HVAC, painting, paving, food deliver?  This is definitely a step away from capitalism, which takes advantage of the division of labor.  Now the residents have to do it all themselves, or find tailored businesses, which hire only people of certain persuasions or orientations.

Should the State or Federal Governments sponsor programs to allow people of certain persuations or orientations to live in certain parts of a State, City or Town?  So they feel safe?  Is there some limit to this ever-expanding taxonomy of gender differences?

Hat tip to the InstaPundit.

Regards  —  Cliff

Thursday, February 18, 2021

Venezuela Evolving


For John, BLUFThe sad story is that Venezuela was doing well, but to do better the leadership, under President Hugo Chávez, tried socialism, which caused collapse and thus many, almost all, are doing less well.  Nothing to see here; just move along.




Here is the sub-headline:

After much pain and suffering, Venezuelan socialist leaders have conceded they cannot effectively run an economy.

From The Foundztion for Economic Education, by Managing Editor Jon Miltimore, 16 February 2021.

Here is the lede plus five:

Early in 2007, after winning a second six-year term as president, Hugo Chávez announced his plan to nationalize Venezuela’s largest telecommunications company, CANTV, hinting at wider nationalization plans to come.

“All that was privatized, let it be nationalized,” announced Chávez, who had run under the banner of democratic socialism.

Nearly a decade and a half later, on the brink of mass famine and a growing energy crisis, Venezuela is now moving in the opposite direction.

According to Bloomberg News, Venezuelan president Nicolás Maduro has quietly begun transferring state assets back into the hands of private owners in an effort to reverse the country's economic collapse.

“Saddled with hundreds of failed state companies in an economy barreling over a cliff, the Venezuelan government is abandoning socialist doctrine by offloading key enterprises to private investors, offering profit in exchange for a share of revenue or products,” write Caracas-based journalists Fabiola Zerpa and Nicolle Yapur.

The transfer, which was not announced publicly but was confirmed by “nine people with knowledge of the matter,” reportedly includes dozens of coffee processors, grain silos, and hotels that were confiscated as part of Venezuela's widespread nationalization that began under Chavez.

It is all happening sub rosa.  But it is happening.  Venezuela is moving away from Socialism, but not necessarily toward Capitalism.

Here is how the article ends:

The Maduro government is still using everything from price controls on food to minimum wage hikes to currency manipulation to manage its economy, not to mention selecting which businesses get to participate in its privatization efforts (and who gets to invest).  In terms of overall economic freedom, Venezuela ranked 179 out of 180 countries in 2020—one place ahead of North Korea and one behind Cuba.

At best, Venezuela’s current economic system is a form of fascism, which Sheldon Richman once described as “socialism with a capitalist veneer.”

Yes, the difference betaween Fascism and Socialism is how the profits are distribued.  In both cases the concept of individual freedom is very limited.  For example, see this testimony by a North Korean woman who is now in the UK.

The key take away is that Democratic Socialism is still socialism and is a perversion of how economics works.  The outcome of any form of socialism is the destruction of the economic signaling system that makes for successful economic exchange and advancement.

Regards  —  Cliff

Thursday, March 5, 2020

Democrats Divided


For John, BLUFI have been hearing about how "this is the end" for one party or another, from my youth, but differences of opinions make political parties happen.  Nothing to see here; just move along.




From TheNew York Review of Books, by Mr Michael Tomasky, 26 March 2020 Issue.

Here is the lede plus four:

In early January, as Democratic voters began to focus more intently on the approaching primary season, New York magazine published a profile of Representative Alexandria Ocasio-Cortez.  The writer, David Freedlander, spoke with her about the divisions within the Democratic Party, and asked what sort of role she envisioned for herself in a possible Joe Biden presidency.  “Oh, God,” Ocasio-Cortez replied (“with a groan,” Freedlander noted).  “In any other country, Joe Biden and I would not be in the same party, but in America, we are.”

This was in some respects an impolitic, even impolite, thing for the first-term politician to say.  AOC, a democratic socialist, had endorsed Bernie Sanders the previous October, so it was no secret where her loyalties lay.  Still, Biden was at that point the clear front-runner for the presidential nomination, and freshman members of Congress don’t usually make disparaging remarks about their party’s front-runner.  Her comment thus carried a considerable charge—a suggestion that if Biden were the nominee, this luminary and her 6.3 million Twitter followers might not just placidly go along.

And yet, she is correct.  In a parliamentary system, Biden would be in the main center-left party and AOC in a smaller, left-wing party.  So her comment was an accurate description of an oddity of American politics that has endured since just before the Civil War—the existence of our two, large-tent parties battling for primacy against each other, but often battling within themselves.

At the moment, as the Democrats struggle over their future, one can legitimately wonder whether the poles of the Democratic tent are strong enough to hold.  The divisions are stark.  This historical moment is often compared to 1972, when a youth movement similar to the one Sanders leads today took over the party and nominated George McGovern.  But if anything, today’s divisions run far deeper.  Then, the party was split chiefly over the Vietnam War.  There were other issues, to be sure, and the New Left—the 1960s movement of student radicals that spread from Madison to Berkeley to everywhere—pressed a broader critique of American society; but McGovern’s was fundamentally an antiwar candidacy.  And while the Vietnam debate was shattering to the party for a few years, wars eventually end, as indeed that one did, not long after the 1972 election.

Once it ended, and once the Watergate scandal mushroomed, the party was able to stitch itself back together with surprising ease.  In the 1974 midterms, both liberals and moderates were able to run aggressively against Richard Nixon, and the Democrats made historic gains that year.  Then, with the country still agitated over Nixon and Gerald Ford’s pardon of him, and with a sunny southern moderate vaulting over several better-known and more liberal senators, they recaptured the White House in 1976.

Then, this sentence to describe the current issues of division:
The current divide is not about one war.  It is about capitalism—whether it can be reformed and remade to create the kind of broad prosperity the country once knew, but without the sexism and racism of the postwar period, as liberals hope; or whether corporate power is now so great that we are simply beyond that, as the younger socialists would argue, and more radical surgery is called for.
And there we have it.  The United States is a nation that has prospered due to good natural resources, a working economic system and a political system that does a good job of reflecting the opinions of both the majority and minority—the political majority and minority.  This is reflected in the fairly routine replacement of one party by the other in our highest office.  And it is facilitated by our willingness to move on.  Southerners were forgiven.  No one today blames Puerto Rican’s for the Capitol being shot up post WWII.  Moving on and succeeding is our mode, and the best revenge.

The threat to the American system and success is our fascination with the allure of socialism.  These United States has its flaws, and they need fixing.

A question for the voters:  Do we go with steps of progress or do we go with a revolution?  The problem with slow steps of progress is you never actually get to that ideal State.  The problem with revolution is that the minority, which thinks it is going too fast, will resist and sabotage, and the only path of resolution is suppression.

It is said that in the implementation of socialism in the last Century there were 100 million deaths.  That is a lot of resistance crushed.  Did it happen everywhere?  No.  It didn't happen in Israel or the Scandinavian nations.  But, they backed off before it hit that tipping point.  On the flip side you have Russia (Soviet Union), China, North Korea, Cuba, Venezuela and a couple of African States.  We don't count Italy and Germany, because Benito Mussolini had rejected Communism early on in favor of a more nationalist approach.

You may think this time will be different, but when you have the map to Utopia in your hands you are unlikely to want to listen to people with alternative ideas.

Regards  —  Cliff

Sunday, March 1, 2020

Shaping the Customer, by Legislation


For John, BLUFAnother intrusion in the lives of the ordinary citizens, who are doing no harm.  Nothing to see here; just move along.




From Sarah Palin, by Mr Lawrence Richard, 28 February 2020.

Here is the lede plus one:

A new bill in the California legislature will force retailers to provide a new gender-neutral section in their stores, removing what is commonly known as “boy and girl sections.”

As the Daily Wire reports, Democratic Assemblyman Evan Low introduced Assembly Bill 2826 (AB-2826) to require “retail department stores with more than 500 employees” to have gender-neutral areas.  Retailers that do not comply could be subject to a “civil penalty of $1,000.”

Low’s proposal addresses what he claims are customer complaints of being unable to compare products between sections.  It also addresses sections that “incorrectly” imply gender-specific clothes are only appropriately worn by their identifying genders.

It is nice there is a 500 employee floor on this, so that while it would apply to chains like May Comp, it won't apply to small operations.

This is the kind of thinking that limits the freedom of the buying public.  If there was a need for a unisex selling space for school-age customers, stores would have moved to accommodate that need, already.  At the same time, if there are parents, or kids, who like the sales areas separated, they will not get their wish.  The rule about the customer always being right has to be amended to, "unless some busy body in State Government thinks they know better than the shoppers, or feels they need to "shape" the preferences of the buying public in some specific sociological fashion.

Can't we just leave the customers alone, and in particular not make them part of some larger social experiment?

By the way, the California State Assembly has been particularly busy of late, having recently passed AR5.

Regards  —  Cliff

Sunday, February 9, 2020

Bernie's Future Path


For John, BLUFA fundamental question is who is Senator Bernie Sanders and what does he believe, what does he stand for?  Nothing to see here; just move along.




From PJ Media, by Reporter Tyler O'Neil, 8 February 2020.

Here is the lede plus one:

After the New Hampshire Democratic debate on Friday night, MSNBC host Chris Matthews uttered high heresy against the Bernie Sanders movement by remembering the Cold War and the threat of socialist and communist executions.  He warned that if Cuban dictator Fidel Castro and the Reds had won the Cold War, "there would have been executions in Central Park, and I might have been one of the ones getting executed."  As if to demonstrate the truth of this statement, Bernie Bros got #FireChrisMatthews trending on Twitter.

"The Democratic Party has to figure out its ideology," Matthews warned.  [Referring to Winston Churchill] He said he was part of the Liberal Party in Britain, but that party was "overtaken by the socialist party [Labour]" and Winston "Churchill went back to the [conservative] Tories."  Indeed, Churchill rejected the Liberal Party in 1924, warning that Liberals should support the Conservatives to stop Labour and ensure "the successful defeat of Socialism."

Good on Commentator Chris Matthews.

Senator Bernie Sanders wants to change America.  I want to make it better, but the idea of changing it, changing the form of government or changing the economic system seems an invitation to trouble.  And invitation to go the way of Venezuela.

Hat tip to the InstaPundit.

Regards  —  Cliff

  Even Venezuelan President Nicolas Maduro seems to be embracing Capitalism and Venezuelan emigres are returning.

Saturday, November 9, 2019

Good Economics and Bad


For John, BLUFThe world has pulled a billion people out of poverty in the last 25 years.  Do we want to do as well in the next 25 years?  If so, don't mess with capitalism.  Nothing to see here; just move along.




Here is the sub-headline:

People seem eager to throw off the taxing, borrowing and spending constraints imposed by economics’ old-time religion. Maybe we need to slow down on that

From the Financial Post (Canada), Mr William Watson, 5 November 2019.

Here is the lede plus two:

The early 1990s were halcyon days for us neoliberals.  The Reagan and Thatcher revolutions were being consolidated. Soviet communism was collapsing.  And an informal “Washington consensus,” according to which the way for poor countries to grow was to get right with their balance sheets, control their money supplies, open their markets to trade and capital flows, privatize, de-regulate and so on, took over the (Washington-headquartered) IMF and World Bank.  In short, they should follow the policies that conservative parties in the West had been recommending for their own countries and which, by the way — in case any might be looking around for post-election suggestions — they should still be following today.

Heady days didn’t last, however, and by the turn of the new century the economics consensus on the Washington consensus was that it hadn’t worked.  Across a wide range of indicators in a wide range of countries, economic performance didn’t seem much better in the second half of the 1990s than in the preceding 15 or 20 years.

But a new study by William Easterly of New York University suggests maybe the problem was simply that things take a while.  Extending the story through 2015, the negative 1990s verdict on neoliberal reforms may have to be reconsidered.

We have very smart people telling us that we need a new economic approach to pull the world out of poverty.  Sadly, The are ignorant people, ignorant of history and of economics.  If we put them in charge they will turn the world into Venezuela, and drag China down with them.

Hat tip to the InstaPundit.

Regards  —  Cliff

Thursday, September 19, 2019

Progress is Ongoing


For John, BLUFThe world is, on average, a much better place than it was a hundred years ago.  Nothing to see here; just move along.




From Town Hall, by Reporter John Stossel, 18 September 2019.

Here is the key paragraph:

There is less war and more food.  We live healthier and longer lives.  HIV will soon be history.  We are increasingly free to be whoever we are and love whom we want.  Even work has become more pleasant.
Of course we could reverse this trend, but going for some sort of socialist utopia.  Like Cuba, Venezuela, or North Korea.

Hat tip to the InstaPundit.

Regards  —  Cliff

Thursday, August 8, 2019

Abolish Grades?


For John, BLUFIf we abolish grades, how does a teacher signal that someone is in the wrong field of study?  Nothing to see here; just move along.




Here are the sub-headlines:

  • New School professor Richard Wolff is known for his outspoken views against capitalism.
  • He recently asserted that capitalism is being propped up by “meritocracy,” and that therefore “all levels” of education should do away with grading scales.

From Campus Reform, by Investigative Reporter Celine Ryan, 6 Aug 2019.

Here is the lede plus three:

A New York professor is calling for the abolition of grades.  He claims they are not only unfair to students, but that they are a means of propping up capitalism, and as such, academia would be better off doing away with grading entirely.

“Grading takes up much of my time that could be better spent on teaching or otherwise directly interacting with students,” New School professor Richard Wolff wrote in a Monday op-ed entitled “Grades Are Capitalism in Action.  Let’s Get Them Out of Our Schools.”  He claims the practice of administering grades to students has “little educational payoff” and “disrespects [students] as thinking people.”

Wolff has been known to promote Marxism and condemn capitalism, even going so far as to blame capitalism for American homelessness.   More recently, he made headlines by comparing President Donald Trump to Adolf Hitler on Twitter.

According to Wolff, the practice of grading is one that has served to prop up America’s capitalist economic system and its “major failures,” including "socially divisive inequalities” and the creation of “boring, dangerous, and/or mind-numbing” jobs.  He asserts that capitalism’s survival can be attributed only to flawed human ideologies, one of which is the concept of “meritocracy.”  Grades, he says, are one of many “mechanisms” used to “anchor” the concept of meritocracy in society.

I wonder if Professor Wolff has considered that some students may be differently learning abled and need grades to succeed?

I wonder if Professor Wolff ever contemplates that if not for capitalism he would be living as a serf in Europe, rather than as a Professor at the New School?

Hat tip to the InstaPundit.

Regards  —  Cliff

Sunday, June 16, 2019

Incompatible With Capitalism


For John, BLUFI am not sure what to say.  Nothing to see here; just move along.




From the blog of David Thompson, 15 June 2019.

Here is the lede:

In case you missed it in the comments, here’s another illustration of the severely educated and their unhappy mental trajectories.  In this case, Mr Anthony Oliveira, a writer and “pop culture critic,” who boasts of his PhD, in English literature, and whose pronouncements are, shall we say, very much of a type.  And so we learn that, “queer people are permanently disadvantaged and marginalised by the capitalist power structure,” that, “‘the family’ as we now understand it is a capitalist invention and is specifically designed to exclude queerness,” and that, “queerness is incompatible with capitalism.”
Well, the first point is that even though Mr Anthony Oliveira is not heterosexual, he is still our Brother, and while we may think his life choice is wrong, we should still love him as a Brother.

The second point is he is Canadian, but we should still love him.

The third point is he has a PhD and we should Eschew his University, or at least his University Department, or at least his Thesis Advisor.

Finally, if we hear this kind of drivel face to face, we should remind the Speaker that homosexuality is incompatible with a lot of things, such as Sharia, but it is not incompatible with Capitalism, which puts up with a lot of foolishness, while protecting individual freedom.

Hat tip to the InstaPundit.

Regards  —  Cliff

Wednesday, June 5, 2019

Socialism in the Plymouth Bay Colony


For John, BLUFI blame High Schools, for not teaching history.  Nothing to see here; just move along.




Here is the sub-headline:

On Tuesday’s episode of “The Michael Knowles Show,” the host shares insights from the United States' own history to show how communism and socialism do not work.

From The Daily Wire, by Mr Michael Knowles, 1 June 2019.

Here is the lede plus five:

You have people like Alexandria Ocasio-Cortez and Bernie Sanders and now the entire Democrat field, telling us that private property is bad, it's wrong, we need to take away private property.  In the extreme case, we need socialism and we need socialist programs.  That is the line and so people feel shame for owning private property.  Why do you have the right to own something if that guy on the street doesn't have the right to own it?  Why do I have the right to own my car when the bum drinking booze out of a plastic bottle on the street doesn't own a car?

According to the radical egalitarians, there is something unfair about that.  That's an example of social injustice.  Actually, though, private property is great.  Private property is one of the best things ever. And shared property is not that great.  We are told in this culture that private property is bad and primitive — that in an advanced society, we will give up some of our private ownership of property and then we'll all just hold things in common, like the mythical people in the beautiful paradise that we envision before the social contract.  That's what we are being told.

And then he gets around to talking about the Pilgrims and Plymouth Governor William Bradford, who, after two years of dismal productivity, went from property held in common to private property.  After that the Plymouth Colony flourished.

Hat tip to the InstaPundit.

Regards  —  Cliff

Tuesday, January 15, 2019

Venezuela Experiencing Bad Luck


For John, BLUFI wonder if we should think about rich people being the tax we pay to allow all who wish to prosper and live a good life?  Nothing to see here; just move along.




Here is the sub-headline:

Castro and his ilk showed us that under socialism, the powerful grow rich — and everyone else grows poor.

From USA Today, by Law Professor Glenn Harlan Reynolds, 27 November 2016.

Yes, 2016, but things have only gotten worse.  This has been a slow moving train wreck and no one could stop it over the last few years.  Today we have several million who have fled Venezuela and we have South American nations resisting the diaspora from Venezuela and nations even building walls (but not big, beautiful walls).  Who would have believed it?

Here is the lede from the article, plus some:

Robert Heinlein once wrote:
Throughout history, poverty is the normal condition of man.  Advances which permit this norm to be exceeded — here and there, now and then — are the work of an extremely small minority, frequently despised, often condemned, and almost always opposed by all right-thinking people.  Whenever this tiny minority is kept from creating, or (as sometimes happens) is driven out of a society, the people then slip back into abject poverty.

This is known as “bad luck.”

I thought about this statement this weekend, reading two news stories.  The first was about the tide of Venezuelans taking to boats to escape Venezuela’s economic collapse.  As The New York Times reported, “Venezuela was once one of Latin America’s richest countries, flush with oil wealth that attracted immigrants from places as varied as Europe and the Middle East."

"But after President Hugo Chávez vowed to break the country’s economic elite and redistribute wealth to the poor, the rich and middle class fled to more welcoming countries in droves, creating what demographers describe as Venezuela’s first diaspora.”

Now, in their absence, things have gotten worse, and it’s poorer Venezuelans — the very ones that Chavez’s revolution was allegedly intended to help — who are starving. Many are even taking to boats, echoing, as the Times notes, “an image so symbolic of the perilous journeys to escape Cuba or Haiti — but not oil-rich Venezuela.”

Economics is about mutually beneficial exchanges.  It is not about fairness, but about prosperity.  If someone making a bundle means you are making a good amount, why is that a problem for you?  The thing is that capitalism and capitalist like economic systems are bringing the world's population out of poverty and that is a good thing.

Hat tip to the InstaPundit.

Regards  —  Cliff

Saturday, August 11, 2018

Are These Democrats?


For John, BLUFSome on the left seem ready to jump off the precipice.  Nothing to see here; just move along.




Here is the sub-headline:

It’s not just New Deal liberalism.

From Vox, by Ms Meagan Day, 1 August 2018.

Here is the lede plus one:

I’m a staff writer at the socialist magazine Jacobin and a member of DSA, and here’s the truth:  In the long run, democratic socialists want to end capitalism.  And we want to do that by pursuing a reform agenda today in an effort to revive a politics focused on class hierarchy and inequality in the United States.  The eventual goal is to transform the world to promote everyone’s needs rather than to produce massive profits for a small handful of citizens.

Democratic socialists share goals with New Deal liberals.  But they want to go further.

Jacobin MagazineHere.

That seems to have settled that.  Abolish Capitalism and replace it with socialism.  Will there be an escape valve?  Or is Caracas our future for ever?

Of course, if everything is produced in abundance there is no need for economics.

Hat tip to the InstaPundit.

Regards  —  Cliff

Tuesday, July 17, 2018

State of the World


For John, BLUFMore people are better off each year.  Nothing to see here; just move along.




Here is the sub-headline:

Why assessing the state of the world is harder than it sounds.

From The New Yorker, by Mr Joshua Rothman, 3 July 2018.

Here is the lede plus five:

In Enlightenment Now:  The Case for Reason, Science, Humanism, and Progress, the cognitive scientist Steven Pinker looks at recent studies and finds that majorities in fourteen countries—Australia, Denmark, Finland, France, Germany, Great Britain, Hong Kong, Malaysia, Norway, Singapore, Sweden, Thailand, the U.A.E., and the United States—believe that the world is getting worse rather than better.  (China is the only large country in which a majority expresses optimism.)  “This bleak assessment of the state of the world is wrong,” Pinker writes—and not just a little wrong but “wrong wrong, flat-earth wrong.”
A side note.  At $18.99, this book is a little pricey for a Kindle edition.  Are we being gouged by the publishing industry?

I found this extract from the book, mentioned in the article linked above, very interesting:

Citing the German economist Max Roser, Pinker argues that a truly evenhanded newspaper “could have run the headline number of people in extreme poverty fell by 137,000 since yesterday every day for the last twenty-five years.”
Things are getting better.

Regards  —  Cliff

Monday, July 2, 2018

Things Are Getting Better


For John, BLUFAll politics is local, until your national government decides to go for socialism.  Then it is national and it is bad, for you.  Nothing to see here; just move along.




From Human Progress, by Alexander C. R. Hammond, 27 October 2017.

Yes. this is close to a year old, but the point is still good.

Here is the key thought:

Well, in 1820, 94 percent of the world’s population lived in extreme poverty (less than $1.90 per day adjusted for purchasing power).  In 1990 this figure was 34.8 percent, and in 2015, just 9.6 percent.
Of course, this progress can be reversed.  For example, with Bolivarian Socialism.

Hat tip to the InstaPundit.

Regards  —  Cliff

Sunday, June 3, 2018

Hernando de Soto Explains It


For John, BLUFCapitalism lifted mankind out of poverty, but now is seen by many as the problem.  Nothing to see here; just move along.



Today Law Professor Gail Heriot noted, on InstaPundit:
ON THIS DAY IN 1539: Hernando de Soto claimed Florida for Spain. Then, 461 years later, he published the highly influential book—The Mystery of Capital: Why Capitalism Succeeds in the West and Fails Everywhere Else.  No … wait … my mistake.  That was a different Hernando de Soto.  But that doesn’t mean that you shouldn’t read his book.  It’s a classic.
I've used that line myself, when pushing The Other Path:  The Economic Answer to Terrorism.

Hernando de Soto, Peruvian Economist.

Hat tip to the InstaPundit.

Regards  —  Cliff

Monday, May 7, 2018

National Health Service Fail


For John, BLUFIt isn't quite the T-4 Program, but once the medical bureaucrats decide nothing can be done, then nothing will be done.  Nothing to see here; just move along.




From Red State, by Brandon Morse, 2 May 2018.

Here is the start of the article:

The evils of socialized medicine were on full display during the few days the world watched Alfie Evans suffer to death at the hands of the British government’s National Healthcare System (NHS).

After his death, the Daily Signal decided to get the comments of the 15 Democratic senators currently co-sponsoring the “Medicare for All Act of 2017,” spearheaded by Democratic Socialist Bernie Sanders (I-Vt.).

According to the Daily Signal, what they got in return was an eerie silence from the Democrats who apparently decided to go dark after the world watched their beloved system of choice fail so spectacularly:

I am not saying we don't need reform.  I am saying that the idea of Single Payer means that we will have more medical tourism, but overall choice will be reduced for the broad expanse of the population.

Hat tip to the InstaPundit.

Regards  —  Cliff

Sunday, March 11, 2018

Personal Freedom Requires Economic Freedom


For John, BLUFThe more the Government controls your life, the less freedom you have.  Nothing to see here; just move along.




Here is the sub-headline:

Only in a free-market system can we truly achieve individual liberty and human flourishing.

From The Foundation for Economic Education, by Carmen Alexe, 9 March 2018.

Here is the lede plus three:

Individual freedom can only exist in the context of free-market capitalism.  Personal freedom thrives in capitalism, declines in government-regulated economies, and vanishes in communism.  Aside from better economic and legislative policies, what America needs is a more intense appreciation for individual freedom and capitalism.

I was born and raised in communist Romania during the Cold War, a country in which the government owned all the resources and means of production.  The state controlled almost every aspect of our lives: our education, our job placement, the time of day we could have hot water, and what we were allowed to say.

Like the rest of the Eastern European countries, Romania was often referred to as a communist country.  In school, we were taught it was a socialist country.  Its name prior to the 1989 Revolution to overthrow the Ceausescu regime was the Socialist Republic of Romania.

From an economic standpoint, a petty fraction of property was still privately owned.  In a communist system, all property is owned by the state.  So if it wasn't a true communist economy, its heavy central planning and the application of a totalitarian control over the Romanian citizenry made this nation rightfully gain its title of a communist country.

Notwithstanding Mr Karl Marx working in the British Museum, and the existence of the British Labor Party, Communism is not compatible with the Rights of Englishmen.

Regards  —  Cliff

Friday, September 22, 2017

Comparisons


For John, BLUFIncentives are important, but not sufficient.  Nothing to see here; just move along.




This is from the blog Chicago Boyz, posted by Mr David Foster, 22 September 2017.

And this is why Venezuela is in trouble.

Regards  —  Cliff