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]
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“So 2011 is the year of the “beneficial crisis”, when the EU will try to exploit short-term economic hardship in order to eliminate the powers of national governments and to create a new pan-European political structure. If it succeeds, it may go on to become a great world power. If it fails, it will start to revert to a collection of nation states.”
– Peter Oborne
He makes a persuasive argument that as far as the architects of the EU superstate were concerned, the sort of crises we are living through – such as the Irish/Greek debt problems – are not problems for the eurozone, they are actually very useful stepping stones towards creating their own new version of the Holy Roman Empire, except that unlike the HRE, the new state will be one run on corporatist, heavily regulated, lines.
Matt Welch, over at the Reason Hit & Run blog, comes across this piece of nuttery from the land that gave us Dan Ackroyd and John Candy. How sad and oppressive that nation appears. Of course, there is no reason for anyone else to gloat: in Britain, we have more than our fair share of censors and wannabe controllers of supposedly offensive messages.
Canada does seem to be prone to a lot of this sort of nonsense. Mark Steyn, a Canadian national now living in New Hamshire, has had his problems with self-appointed guardians of what is considered to be acceptable to say and write.
My old man, when in the RAF in the 50s, once nearly emigrated there to serve in the Canadian air force. You might now be reading me with a Toronto or Vancouver dateline. Oh well, Dad chose to move into farming instead.
Erratum: I previously said John Belushi was Canadian. He was not. Sorry for the error.
David Henderson, over at the EconLog blog, has astute observations to make about the statements made by a parent of the girl murdered by the Arizona shooter. I recommend you read it all. It is probably not the sort of article to appeal to Paul Krugman, who is now well on the way to achieving the status of what the swearblogger Obxnoxio the Clown calls “a weapon’s grade cock-end”.
Here is more on Krugman’s descent, over, at all places, the Economist.. Even that organ of high-minded opinion is starting to publish attacks on him. Or maybe its editors are starting to take note of our own Paul Marks.
“It might be more appropriate if the Sveriges Riksbank would end the Economics Nobel Prize as a failure: strictly, it isn’t a true Nobel at all; it was not part of Alfred Nobel’s legacy, but a much later add-on to pander to the economics profession’s vain pretensions of scientific respectability. If we judge a science by the hallmark of predictability, then the predictions of economists are no better than those of ancient Roman augurs or modern taxi drivers; alternatively, we can judge by its contribution to “scientific” knowledge, in which case the contribution that modern financial economics has made makes us wonder if the agricultural alchemist Lysenko shouldn’t have got a Nobel himself; or we can judge it by contribution to the welfare of society at large, in which case the undermining of the capitalist system, the repeated disasters of the past 20 years, the immiseration of millions of innocent workers and savers, and the trillion dollar losses of recent years surely speak for themselves.”
– Alchemists of Loss – How Modern Finance and Government Intervention Crashed the Financial System, by Kevin Dowd and Martin Hutchison. First published in 2010. Page 86.
Now having read it, I cannot recommend this book too strongly. Some of the discussion about modern financial theory – and its baleful consequences – is quite complex, but the authors write with a verve and eye for drama that makes this a very readable book. In my view, it is the best study of what has happened, and more importantly, spells out in practical, thoughtful ways as to what should be done.
“But I detect that the criticism [of big businesses] is increasingly out of date, and that large corporations are ever more vulnerable to their nimbler competitors in the modern world – or would be if they were not granted special privileges by the state. Most big firms are actually becoming frail, fragile and frightened – of the press, of pressure groups of government, of their customers. So they should be. Given how frequently they vanish – by take-over or bankruptcy, this is hardly surprising. Coca-Cola may wish its customers were “serfs under feudal landlords”, in the words of one critic, but look what happened to New Coke. Shell may have tried to dump an oil-storage device in the deep sea in 1995, but a whiff of consumer boycott and it changed its mind. Exxon may have famously stood out from the consensus by funding scepticism of climate change (while Enron funded climate alarmism) – but by 2008 it had been bullied into recanting.”
Matt Ridley, the Rational Optimist, page 111.
He’s right, of course. While Hollywood moviemakers may delight in using bosses of large firms to be villains, which is rather ironic, given the importance of big entertainment firms like Time-Warner, Disney and Sony Corporation to the movie industry in recent years. The actual track record shows, as Ridley says in this excellent book, that firms have a far shorter shelf life than government agencies. This is hardly surprising. There is, in government, no negative feedback loop with a failed agency or an agency that has outlived whatever reason for its original existence. As we see time and again, a government agency will often look for new things to justify its continued existence, arguing for larger budgets, more staff, and so on. With business, on the other hand, any firm that does not adapt to the constant shifts of consumer habits will die.
Here’s more:
“Half of the biggest American companies of 1980 have now disappeared by takeover or bankruptcy; half of today’s biggest companies did not even exist in 1980. The same is not true of government monopolies: the Internal Revenue Service and the National Health Service will not die, however much incomptence they might display. Yet most anti-corporate activists have faith in the good will of the leviathans that can force you to do business with them, but are suspicious of the behemoths that have to beg for your business. I find that odd.”
After having read and watched anti-business folk for years now, I don’t perhaps find this attitude as odd as Ridley does. The hatred of business is, in my view, a product of centuries of crappy, anti-reason philosophy and a fear of freedom that this has generated.
“What it really shows is the extent to which the politics of global warming is driven by an already existing culture of fear. It doesn’t matter what The Science (as greens always refer to it) does or doesn’t reveal: campaigners will still let their imaginations run riot, biblically fantasising about droughts and plagues, because theirs is a fundamentally moralistic outlook rather than a scientific one. It is their disdain for mankind’s planet-altering arrogance that fuels their global-warming fantasies – and they simply seek out The Science that best seems to back up their perverted thoughts. Those predictions of a snowless future, of a parched Earth, are better understood as elite moral porn rather than sedate risk analysis.”
– Brendan O’Neill.
I love that final sentence. You do not have to buy into this guy’s Marxian point of view to enjoy his class analysis of what drives part of the Green agenda. I think he has a good point.
Guido Fawkes, along with several others, is giving the deep Green, and also deeply red, Mr George Monbiot, a thoroughly deserved going over for this idea that “wealthy householders” – however defined – should be forced to give over some of their rooms to let to those deemed to be deserving. As several of Guido’s splendidly rude commenters point out, this brings up images of how the Russian Bolsheviks forced the “rich” to accomodate the proletariat in the homes of the former. I remember reading about such a scene in Ayn Rand’s “We The Living”, one of her first pieces of fiction (and a book that I thoroughly enjoyed, BTW).
At root of the issue here is that Monbiot, while he himself is happy to avail himself of the benefits of a society that allows private property – he has a nice home himself – he has no real, rooted respect for private property as such. He believes that all the property that currently exists is a “common resource” to which “we” – whoever happens to be living in a defined geographical space – are entitled to use. His view of property rights is not a bundle of rights that contain the important right to exclude, which is all of a piece of the idea, as traditionally expressed, that an “Englishman’s home is his castle”. No: for him, he regards a home as what PJ O’Rourke has called a “gimme right”. As far as Mr Monbiot is concerned, if the “needs” of X are what they are, then so much the worse for whoever happens to be owning a particular piece of property deemed to be “too big”. And why stop at seizing property in stuff like buildings? After all, the skills and abilities we bring are, according to his view, also a “common resource” that everyone has a claim on.
Another problem here, which leads to my point about Monbiot’s fanatical Greenery, is his zero-sum approach to life generally that this sort of comment exhibits. Rather than think of say, freeing up planning laws and the like to encourage more home-building – a perfectly sensible idea in my view – he argues for more control. And like a lot of Greens, he presumably does not favour laissez faire solutions to shortages of things like housing because he fears there are just too many damn people in the world, and in this small island of the UK, anyway.
One a point of detail, forcing owners of homes to let out one or more rooms to whoever demands them would require a monstrous government bureaucracy of some kind. I can only shudder at the sort of issues that would get thrown up by administering such a scheme.
Mr Monbiot is an enemy of liberty, that’s for damn sure. He may be a clown in the eyes of many here, but remember that this guy is taken seriously in certain quarters. Such nonsense can never be attacked often enough.
As an aside, this book by Richard Pipes, looking at the very different traditions of Russia and the UK concerning property, is well worth reading.
As part of the “No shit, Sherlock” series at Samizdata, here is an item about the marrying preferences of women, at least according to a new survey.
Matthew Lynn, one of the better finance journalists out there, has a column up over at Bloomberg News about the fact that, as of October this year, there will need to be a new boss at the European Central Bank. The term of Jean-Claude Trichet, a Frenchman, is due to expire. Lynn runs through all the various choices currently deemed available, and says they are, for various reasons, bad. For instance, if an Italian gets the job, this will piss off the Germans, already seething at the cost of trying to protect Ireland and Greece. If the job goes to a German, that will annoy the “peripheral” countries worried – rightly – that membership of the currency bloc means, effectively, rule by the most powerful economy. And so on.
But then again, this sort of issue reminds me of why the eurozone was a doomed venture in the first place. Far from removing all this nationalism, the issue of who gets to run the single currency remains fraught with geo-political tension, for the very simple reason that no genuinely popular pan-European polity exists. As we have seen in various referenda, European voters have, time and again, voted No to things such as the European Constitution, only to see their legislators switch a few items and then ram such items through national parliaments. There is widespread public cynicism about much of the current European “project”.
By contrast, while there is always a fair amount of speculation leading up to the choice of chairman of the Federal Reserve system in the US, I don’t recall seeing debates about whether the job should go to a Texan, or Californian, or Floridan, etc. Debate normally is based around general fitness for the job. One thing that does come out of the Bernanke experience, it seems to me, is that it is wrong for a central banker to have a purely academic background, as Bernanke does, and not to have any hands-on experience in running an actual private sector bank.
Of course, one prime requirement of a central banker is to be able to perform the role of legalised counterfeiter without smirking too much on camera. The issue of whether we should have central banks at all, is another matter.
A hilarious but also rather sharp look back at 2010 by the American funnyman.
It has been good to get out of the UK this Christmas. As one or two Samizdata regulars will know, I had a crap December as my dear mother, at the relatively young age of 69, died of cancer on 9 Dec. I just needed to get away and decompress and gather my thoughts.
Fortunately, I have wonderful relations via my wife who work with the US military in Southeast Germany, about 20 km from the Czech border. They are a great group of folk who know how to put on a good Christmas. Bavaria has been spectacular due to all the heavy snowfall. It has seen temperatures as low as -18 Degrees.
One of the places I visited was a museum all about a huge US army base near the small German town of Grafenwoehr. The place dates back to the start of the 20th Century, when the then German government built it up and it remained in German hands until the Allied armies, with Patton’s 3rd Army to the fore, captured it at the end of WW2. During WW2, for example, the place was used by the various groups within Hitler’s armies for training purposes. Himmler gave a speech there. During WW1, it was used, among other things, as a PoW camp. Many soldiers are buried there. Later, during the Cold War, even the likes of a young Elvis Presley did some army training on the base.
Going on the base with a relation of mine, the place seems so pristine and businesslike with lots of US servicemen and women getting ready for deployments to the MidEast. I wonder what they think about the uses to which this huge training area has been put in the past. It is, so I am told, the biggest US army training facility outside of the US. Of course, a lot of bases have been closed down since the early 1990s, but the presence of NATO forces is still evident, judging by the various North American accents I hear in the local shops and restaurants.
I can strongly recommend this part of Southern Germany as a place to visit. The locals are very friendly and the economy is, judging by a massive shopping mall in Regensburg, buzzing. And the local beer is awesome. What more excuse do you need?
“It is a slow day in a damp little Irish town. The rain is beating down and the streets are deserted. Times are tough, everybody is in debt, and everybody lives on credit. On this particular day a rich German tourist is driving through the town, stops at the local hotel and lays a €100 note on the desk, telling the hotel owner he wants to inspect the rooms upstairs in order to pick one to spend the night. The owner gives him some keys and, as soon as the visitor has walked upstairs, the hotelier grabs the €100 note and runs next door to pay his debt to the butcher. The butcher takes the €100 note and runs down the street to repay his debt to the pig farmer. The pig farmer takes the €100 note and heads off to pay his bill at the supplier of feed and fuel. The guy at the Farmers’ Co-op takes the €100 note and runs to pay his drinks bill at the pub. The publican slips the money along to the local prostitute drinking at the bar, who has also been facing hard times and has had to offer him “services” on credit. The hooker then rushes to the hotel and pays off her room bill to the hotel owner with the €100 note. The hotel proprietor then places the €100 note back on the counter so the rich traveler will not suspect anything. At that moment the traveler comes down the stairs, picks up the €100 note, states that the rooms are not satisfactory, pockets the money, and leaves town. No one produced anything. No one earned anything. However, the whole town is now out of debt and looking to the future with a lot more optimism. And that, Ladies and Gentlemen, is how the bailout package works.”
This was sent to me as a joke via email from a friend. The problem is, that folk such as Paul Krugman would argue that this is sound economics. Happy Christmas!
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Who Are We? The Samizdata people are a bunch of sinister and heavily armed globalist illuminati who seek to infect the entire world with the values of personal liberty and several property. Amongst our many crimes is a sense of humour and the intermittent use of British spelling.
We are also a varied group made up of social individualists, classical liberals, whigs, libertarians, extropians, futurists, ‘Porcupines’, Karl Popper fetishists, recovering neo-conservatives, crazed Ayn Rand worshipers, over-caffeinated Virginia Postrel devotees, witty Frédéric Bastiat wannabes, cypherpunks, minarchists, kritarchists and wild-eyed anarcho-capitalists from Britain, North America, Australia and Europe.
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