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Brian Doherty has an article slamming the record and conduct of Federal Reserve chairman Ben Bernanke. It will not be news to the likes of us hard-money advocates, but still, well worth your time. I like Doherty’s recent book on the American libertarian movement, by the way. July 31st, 2009 | 13 comments - (Comments are closed)
 Sir Bobby Robson, former manager of Newcastle Utd, England and a brace of successful European clubs (such as PSV Eindhoven, Barcelona), has died after a brave fight against cancer. But the club that in many ways will feel the pain of his loss the most is Ipswich Town FC, the club I have supported since I was a young boy He took this relatively unfashionable club on the UK’s east coast to the heights of success in the FA Cup and in European competition, coming also very close to winning the old domestic First Division. His teams were glorious to watch. He conducted himself with grace, good humour – apart from the occasional tiff with the media – and had an infectious love of the sport that inspired football fans and players from all clubs. RIP. July 31st, 2009 | 11 comments - (Comments are closed)
“Paul Krugman, in one of his more inflamatory statements, claimed that congressmen who voted against cap and trade were guilty of “planetary treason.” The bill contains substantial support for biofuels, including a five year moratorium on letting the EPA decide whether, on net, producing ethanol actually reduces carbon dioxide. Converting food crops into fuel drives up the price of food. Driving up the world price of food results in more people in poor countries dying. Krugman is, no doubt, opposed to world hunger in theory. But he has come out passionately in favor of it in practice. Treason or murder, take your choice.” July 28th, 2009 | 10 comments - (Comments are closed)
It will be tough to follow what was a great event last year, with speakers such as David Friedman – but this year’s Libertarian Alliance annual conference, on 24-25 October in London, promises to be a good one. I have just been sent the agenda and list of speakers, including Tibor Machan, the US philosopher (one of my favourites), Richard Wellings of the IEA, Jan Lester and Chris Mounsey (aka The Devil’s Kitchen). Book early to avoid disappointment. July 27th, 2009 | Comments are closed
Iain Dale, the UK politics blogger, has interesting things to say about how Sir Trevor Phillips, head of the Equalities & Human Rights Commission, has come under attack from the far left over his not being sufficiently on-message with their agendas. Well, as Mr Dale eventually states, it is probably about time that this quango – quasi-autonomous non-governmental organisation – was scrapped. Far from soothing racial or other tensions, it seems at times to require their continuation to justify its existence. As any student of Parkinson’s Law will tell you, such a bureaucracy will endlessly look for new things to do, new causes to embrace, or new dragons to be slain. Sir Trevor is, by the standards of such organisations, relatively sane, which no doubt is one of the reasons why the hard left hates him. If he had sense, Sir Trevor should commend the government, any government, to heed Mr Dale’s advice. This organisation needs to join a long list of quangos for annihilation. July 27th, 2009 | 5 comments - (Comments are closed)
The next time Gordon Brown, or his counterparts mock free marketeer “Austrians” such as myself for our opposition to Keynesian monetary expansionism and huge state debt, perhaps they could explain why, after all the vast spending that there has been, we get figures such as this. Just asking. For those unaware, Mr Kaletsky is an economics writer and supposed investment guru who fully supports the Keynesian view. I assume most readers have heard of Mr Krugman. July 24th, 2009 | 43 comments - (Comments are closed)
The decision by the UK government a few months ago to use anti-terrorism powers over the case of Icelandic banks in trouble has caused deep resentment in Iceland. As this article suggests, such a tactic is hardly a way for Britain – now in deep debt – to make friends with foreign investors. Of course, Mr Brown may have made the calculation that he will be out of power in a few months so why care? But even so, the use of such powers represented a new low for UK diplomatic relations. It also proves the age-old truth that if governments acquire new powers, they will use them in ways far beyond their original scope. July 23rd, 2009 | 17 comments - (Comments are closed)
The other night I attended a talk by Tara Smith, a philosopher from the University of Texas who has written a number of good books, such as this one. Her talk was at a private event so I am not going to relate the exact details of what was said, but one thing that struck me during the Q&A session was when a guy in the audience, who clearly disagreed violently with Prof. Smith’s views, began to state that she “did not get” certain ideas (which he presumably agreed with). I really dislike this verbal tactic, although I occasionally find myself lapsing into it, and I should not. When we say that someone does not “get” something, such as not “getting” rock music, or clothes fashions, or a political creed, or whatnot, what they really are trying to say is that “X does not like or agree with this because he or she is an idiot or is blind to the wonderfulness of it.” I remember, back in the days when he was cheerleading for George W. Bush, Andrew Sullivan was a particularly bad offender, writing about how X or Y did not “get” the threat posed by Saddam/etc and so forth. Even if Sullivan was right at the time, this tactic smacked of saying that smart, clever people like him understood what was going on but those who did not were in some ways deficient in their reasoning. Jamie Whyte, about whom I have written before, has a great book debunking these lazy ways of thinking and arguing. Well worth the read. July 23rd, 2009 | 20 comments - (Comments are closed)
“Groupthink was a major factor in the buildup of risk in the financial system in the decade preceding the recent crisis. Top bank executives and regulators ignored dissenting voices from both ends of the political spectrum which were questioning the excesses that were building up in the system. What was once a comfortable consensus about the strength of our regulatory structure has now been replaced by an equally comfortable and equally flawed consensus about how to fix it.” Arnold Kling, libertarian-leaning economist, giving a long report on the problems with how the US administration has sought to deal with the crisis, and why he thinks those moves will make future problems more, not less likely. My fear is that for now, such warnings will continue to go unheeded not just in the US administration of The Community Organiser, but in the UK and parts of Europe, as well. July 22nd, 2009 | 13 comments - (Comments are closed)
Dominic Lawson tears into the moral cant and dubious economics of those who want to festoon the UK with windmills as a solution to so-called man-made global warming. As he says, other countries, such as Germany, have spent large sums on such alternative technologies but have not, yet, been able to retire conventional power stations at all. I am quite a fan of tidal power, as alternatives go (although I think that no serious energy policy that sidelines nuclear power is worth considering as a practical one). Unlike the wind, which is dependent on weather, tides are as regular as the orbit of the Moon. Reversible turbines could be powered by the regular, big currents that sweep to and fro in the coastal waters of countries such as the UK, France, Germany and Spain. And unlike windmills, they would not, hopefully, create a bloody great eyesore or hazard, either. July 21st, 2009 | 22 comments - (Comments are closed)
Okay, since we are in Lunar mode today, here’s another quotation: “No event in contemporary culture was as thrilling, here on earth, as three moments of the mission’s climax: the moment when, superimposed over the image of a garishly colored imitation-model standing motionless on the television screen, there flashed the words: “Lunar module has landed” – the moment when the faint, gray shape of the actual model came shivering from the moon to the screen – and the moment when the shining white blob which was Neil Armstrong took his immortal first step. At this last, I felt one instant of unhappy fear, wondering what he would say, because he had it in his power to destroy the meaning and the glory of that moment, as the astronauts of Apollo 8 had done in their time. He did not. He made no reference to God; he did not undercut the rationality of his achievement by paying tribute to the forces of the opposite; he spoke of man”. (page 186). Ayn Rand, The Voice of Reason. For all that I broadly share the sentiment expressed here, I don’t think that any of the astronauts, even if they were religious, would have thought of their faith as somehow undercutting the sheer, grandeur of rational thought that got them up there in the first place. For them, I think, belief in a Supreme Being might even have been strengthened by wondering about how the universe came about in the first place, although cosmology comes in many forms. But still, Rand was right to make the point: in a culture that sometimes denigrates science and reason, the Moon landings were a potent reminder of just how far Man has travelled through the use of both. July 20th, 2009 | 35 comments - (Comments are closed)
“It is often wrongly assumed that the free market is always on the side of life’s heavy hitters. But sport gives plenty of examples that it is the market which corrects received wisdom in favour of untrumpeted stars. The internet has done something similar in publishing.” What Sport Tells Us About Life, by Ed Smith. Pages 88-89. Brian Micklethwait had thoughts about this short and excellent book a few months ago. A good book to read as the Ashes cricket series continues with the second Test at Lord’s starting later today. Bliss. July 16th, 2009 | 17 comments - (Comments are closed)
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