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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“And what should our mood be? The population restrictionists say we should be sad and worry. I and many others believe that the trends suggesst joy and celebration at our newfound capacity to support human life – healthily, and with fast-increasing access to education and opportunity all over the world. I believe that the population restrictionists’ hand-wringing view leads to despair and resignation. Our view leads to hope and progress, in the reasonable expectation that that the energetic efforts of humankind will prevail in the future, as they have in the past, to increase worldwide our numbers, our health, our wealth, and our opportunities…..Adding more people causes problems, but people are also the means to solving those problems.”
– Julian Simon, The Ultimate Resource, 2nd edition, page 588.
The other day, Perry de Havilland took aim at those who would use the violence-backed power of the State to restrict human population. The late Julian Simon had no time for the neo-Malthusian mindset. Among other things, he did not regard wealth as somehow fixed and that if there were more people around, there would be less for each person. We are richer now than we were 100 years ago, and there are more of us. If you want a book that cuts through the crud of the gloomongering cast of mind, this book still ranks up top as one of the very best.
This headline and lead paragraph in the Times (of London) deserves a sort of award:
Thrifty families accused of prolonging the recession –
Anxious families are repaying debts instead of spending in the shops, amid concern over the uncertain economic outlook. The share of income saved in banks and building societies has risen to its highest level in more than a decade, heightening fears that faltering consumer demand could prolong the recession.
This is a sort of reflexive crude Keynesian message at work; the laziness of the assumption that recessions are ended by people spending more – never mind where the money comes from – continues to hold a grip on the MSM. In fairness, maybe what the writer is trying to say is that saving is a good thing but if everyone saves “too much” (however one can define that), then in the aggregate, it drags everything down. But that does rather ignore the situation that has built up over the years, and the disruption to the economic system caused by excessively cheap credit. People who try to reduce their debt, save more and decide to forgo spending money they haven’t got are not “prolonging the recession” beyond some point that can be marked down on a graph. The current economic Snafu was caused – as the author of this newspaper item must be dimly aware – by a country hooked on the drug of cheap credit, beguiled by the idiotic notion that whenever the drug wore off and the hangover kicked in, that that nice Dr Greenspan and friends would administer yet more of the drug, to get yet another high. That way lies the equivalent of liver poisoning.
It may seem a Scrooge-like message for this time of year to point out that you cannot spend money that you don’t have; businesses cannot invest money that has not been already saved, and that interest rates must reflect the balance of supply and demand for savings. The “Austrian” economic insight that money is a claim on resources, and that two people cannot hold the same claim on a resource at the same time, needs to be relentlessly rammed home.
The best way to end a recession is to unravel the massive misallocation of resources caused by printing money as soon as possible, to let labour markets clear, to cut public spending and cut taxes, and where necessary, recapitalise banks speedily. (Check out this paper for a good course to steer). Such a process is inevitably painful. In the short run, the pain is worse than the sort of dragged out situation we have now. But ask yourself this question, dear reader: what is the more compassionate policy – a short, sharp recession and closure of failed banks, followed by a rapid 1921-like recovery, or a Japanese-style multi-decade of stagnation?
On that note, this makes a good Christmas present for those interested in economic affairs, if you still have the time to get it shipped.
“I have only one firm belief about the American political system, and that is this: God is a Republican and Santa Claus is a Democrat. God is an elderly or, at any rate, middle-aged male, a stern fellow, patriarchal rather than paternal and a great believer in rules and regulations. He holds men strictly accountable for their actions. He has little apparent concern for the material well-being of the disadvantaged. He is politically connected, socially powerful and holds the mortgage on virtually everything in the world. God is difficult. God is unsentimental. It is very hard to get into God’s heavenly country club. Santa Claus is another matter. He’s cute. His nonthreatening. He’s always cheerful. And he loves animals. He may know who’s been naughty and who’s been nice, but he never does anything about it. He gives everyone everything they want without thought of a quid pro quo. He works hard for charities, and he’s famously generous to the poor. Santa Claus is preferable to God in every way but one: There is no such thing as Santa Claus.”
PJ O’Rourke. (Page XXii of Parliament of Whores). Of course, now that the Democrats are led by a Chicago machine “Community Organiser” who is prepared to throw inconvenient former allies under a proverbial bus, it is unclear if O’Rourke’s relatively charming portrayal of the Democrats really holds any more. But hey, any excuse for a Christmas reference.
Hilarious (H/T, Glenn Reynolds).
I occasionally come across comments, usually expressed with a sort of “how terrible!” undertone, that more people recently voted in the X-Factor singing talent show on the ITV station in the UK than voted in the 2005 General Election. But there is another way of looking at it: the fact that more people care to vote for their favourite singer than the various types of authoritarian statist twerp in fact shows that the Great British public have a healthy set of priorities.
In case any commenter sniffs at my possibly making nice comments about the X-Factor, I don’t like the show, although I find that there is something gruesomely compelling about Simon Cowell and some of the acts.
When you read this passionate denunciation of the sheer intellectual cowardice of the Conservative Party over the issues of tax, public spending and the banking sector, ask yourself again: who gives a brass farthing as to whether David Cameron and friends win power next year? Who?
“There is no reason to doubt that Mr Brown’s statement that he went into politics because of his horror at the effects of unemployment. Unfortunately, he forgot one of the few laws of political economy: that the road to unemployment is paved with work creation schemes. He is likely, therefore, to go down as something like the patron saint of unemployment.”
– Theodore Dalrymple, from “Not With A Bang But A Whimper”, essays on current affairs, page 79. The whole chapter from which this paragraph is taken is a brilliant summary of everthing that is wrong about the current prime minister.
James Delingpole delivers the goods on the latest blow against AGW alarmism. It has come from Russia. The story is not quite so “John Le Carre” as the theory put up recently by Sean Gabb, however.
Happy Christmas!
Following on from Brian’s post immediately below this one, is what can only be described as an encouraging story by Bloomberg, stating that the chances of a deal being agreed by world leaders in Copenhagen are remote. Excellent if true.
Al Gore has been caught out basing scary scenarios on what turn out to be highly questionable figures. What I am starting to notice – despite the efforts of some, not all, parts of the MSM – is that AGW scepticism is getting more of a hearing in the media. The effects of the leaked emails from the University of East Anglia are not fading; if anything, the momentum behind this story is building.
Near where I live in central London, there is a big construction site and one of the most impressive things about the work going on has been to watch the crane-driver deftly move the huge arms of the crane around to lift and place different materials. I don’t suffer from vertigo but I certainly would not have the guts to sit up in the cab at the top, or be able to easily face the long climb up and down. The crane-drivers are one of those group of construction workers that make much of the modern urban skyline possible. So here’s to them. And here is a nice article about this feature of the modern urban landscape.
“The upgrading of the G20, Gordon Brown’s plans for planetary financial regulation, and the Copenhagen climate summit (whose inauguration of a transnational bureaucracy to facilitate the multitrillion-dollar shakedown of functioning economies would be the biggest exercise in punitive liberalism the developed world has ever been subjected to) are all pillars of “global governance.” Right now, if you don’t like the local grade school, you move to the next town. If you’re sick of Massachusetts taxes, you move to New Hampshire. Where do you move to if you don’t like “global governance”? What polling station do you go to to vote it out?”
– Mark Steyn.
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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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