We are developing the social individualist meta-context for the future. From the very serious to the extremely frivolous... lets see what is on the mind of the Samizdata people.

Samizdata, derived from Samizdat /n. - a system of clandestine publication of banned literature in the USSR [Russ.,= self-publishing house]

Samizdata quote of the day

Whenever dismal scientists agree so passionately about the impact of a complex, one-off and multi-faceted event, alarm bells deserve to go off

Allister Heath

Samizdata quote of the day

What those who instinctively reach for more state regulation of companies such as Uber assume is that a few laws and rules can “perfect” perceived failures of markets without unintended consequences. In other words, they assume markets are “imperfect” but “perfectable”. They judge markets by anecdotal failings and interventions to correct them by intentions.

Those of us who believe that markets tend to work well have more humility about our judgement. We recognise that achieving a perfect market by design is impossible. In life, things go wrong. What we think examples such as the above show is that markets work better than government regulators in developing innovations and institutions for dealing with problems, because that is in fact part of the service customers want. And the best bit? Over time, these new innovations, by enhancing competition, raise the game of everyone else too.

Ryan Bourne

Samizdata quote of the day

If that sounds familiar, it’s because this amounts to Mr. Corbyn’s People’s Quantitative Easing concept in all but name. The idea much derided last year is becoming so mainstream that even a leadership candidate for Britain’s Conservative Party, Stephen Crabb, could recently propose a £100 billion ($130 billion) public-works investment fund that wasn’t so different from PQE. Mr. Corbyn’s PQE is essentially indistinguishable from the suggested 50-year Japanese bonds.

This probably says more about the central bankers’ desperation than Mr. Corbyn’s prescience. With government spending and borrowing constrained by slow growth and high debt, and supply-side reforms still politically far off in many economies, the pressure is mounting on central bankers to act as magicians pulling rabbits out of their hats. The longer this continues, the deeper they’ll have to rummage around for the next rabbit. It’s enough to make one wonder what will be the next extreme idea to follow the journey from crank to orthodoxy.

John Phelan

Samizdata quote of the day

It is widely recognised that today’s generation of so-called snowflakes – with their Safe Spaces, microaggressions and ‘that’s offensive!’ tantrums – has its roots in an educational system governed by therapeutic norms. The same was true of the London riots. They emerged from the same assertive grievance culture, the same well of victimhood and entitlement, the same sense that it’s all someone else’s fault. One young rioter even justified his trashing of a local branch of Comet on the grounds he didn’t get a job there. Other kids gloated about how ‘we can do what we want’, a dismissive attitude to adult authority they no doubt picked up at school.

Now, five years on from the London riots, some commentators argue that welfare cuts and widening inequality mean that ‘many of the conditions that created the riots are still in place’. London’s Time Out magazine went further by arguing that the Brexit vote means that racism has acquired a new-found respectability, which will lead to greater poverty for, and ill-treament of, London’s ethnic minorities.

These cheap anti-Brexit jibes raise a question: why are marginalised rioters viewed with sympathy, while poor, marginalised Brexit voters are viewed with contempt? Why are the violent actions of looters and arsonists interpreted as a legitimate protest, while voting to leave the EU is seen as an exercise in brainwashed stupidity?

Neil Davenport

Samizdata quote of the day

Political correctness is fascism pretending to be manners

George Carlin

Samizdata quote of the day

For those that already have, Mark Carney is the gift that keeps on giving. Borrowed imprudently and struggling to make those interest payments ? Worry not; the Bank of England has your back. For those that don’t have, the Bank of England is taking away your chance of ever realistically saving anything, now that interest rates have been driven down to new historic lows of 0.25%, and may go lower yet. For the asset-rich, for the 1%, for property speculators, and for zombie companies and banks, Carney is your man. For the asset poor, or for savers, or pensioners, or insurance companies, or pension funds, the Bank of England has morphed from being anti-inflationary fireman to monetary arsonist.

Tim Price

Samizdata quote of the day

Of all the shallow, conceited and pernicious phrases to have emerged in political discourse in recent years, the term ‘post-truth politics’ takes some beating. Forget ‘unwitting racism’. Bin ‘glass ceiling’. Be gone ‘check your privilege’. ‘Post-truth politics’ surpasses them all in the stakes for fraudulent and fatuous self-importance

Patrick West

Samizdata quote of the day

Now that the major party political conventions are over, H. L. Mencken’s assessment of “democracy” seem more prophetic than ever. “Democracy is the theory,” he wrote in 1916, that the common people know what they want, and deserve to get it good and hard.” Four years later, he foretold: “As democracy is perfected, the office represents, more and more closely, the inner soul of the people. On some great and glorious day the plain folks of the land will reach their heart’s desire at last, and the White House will be adorned by a downright moron.” Looks like this could be the year.

Lawrence W. Reed

Twenty Five years ago today, the world changed forever…

And no one realised what a revolutionary change the web would be.

But now we know exactly what revolutionary change looks like!

Alice in Wonderland economics

Has the Bank of England finished its campaign of driving down UK base rates and forcibly impoverishing savers ? On the evidence of last week’s Radio 4 programme ‘How low can rates go ?’ hosted by my dear and highly valued friend Martin Wolf, the answer is unclear. But a host of government-appointed technocrats from around the world, including Mr. Kuroda, were wheeled out in defence of a monetary policy that severed any ties it might once have had with the real world quite some time ago. (Victor Hill, reviewing the programme, calls it ‘Alice in Wonderland’ economics.)

– Tim Price writing about Monetary Terrorism.

Samizdata quote of the day

Perusing the NME’s sad, stuffy, small-c conservative freakout over this big change in British politics got me thinking: Brexit is actually the most rock’n’roll thing to have happened in a generation. What we have here is ordinary people, including vast swathes of the working class, saying ‘No’ to the status quo, sticking two fingers up at an aloof elite, channelling Rotten and Vicious to say screw you (or something rather tastier) to that illiberal, risk-averse layer of bureaucracy in Brussels. It makes the student radicals of the 60s and even the anarchic punks of the 70s look like rank amateurs in comparison. Sure, those guys might have waved flowers against the Vietnam War or put safety pins through their snouts, but did they send the political class, the chattering class and the business elite into an existential tailspin by delivering a severe sucker punch to these people’s favourite institution? No, they didn’t. Brexit did, though.

Brendan O’Neill

Nothing less than the battle for western civilisation