First impressions that this is going to be a much worse night for Labour than some polls have suggested. Exit polls are pointing to a big cut in the size of Labour’s majority. Early days yet.
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German’s leftwing SPD politicians have been bashing those symbols of hated capitalist activity, private equity buyout funds which look out for distressed firms, sell off some of the assets and reconstruct the remainder in the hope of turning a business around, before selling it at a profit. How shameful. Such people are “locusts” destroying Germany’s economy, scream the politicians (who of course have been doing a tremendous job on that score). In fact, I find all this abuse rather encouraging. If entrepreneurs see value in the German economic landscape, and perceive there are rich profits to be made in turning around businesses and then flogging them off, it is very good news indeed for the country’s economy. By releasing capital from uneconomic areas and focussing it on lucrative new bits, the overall pie gets bigger, jobs get created, and productivity is also increased. In fact, one could almost create a new economic law: the amount of abuse raining down on entrepreneurs is directly proportional to the good they do. I haven’t seen much reason to doubt this law yet. May 5th, 2005 | 8 comments - (Comments are closed)
 The indefatigible Radley Balko has a nice roundup of latest regulatory nuttiness from across the world, including my personal favourite, a rule in Italy stating that dog-owners must walk their furry friends at least three times a day. Tremendous stuff, the sort of law that would make the land of Julius Ceasar and Enzo Ferrari proud. Joking aside at this lunacy, we are surely far beyond the point at which it is possible to subject this sort of regulatory mania to Monty Python-style satire. How on earth can one excite the anger of people against this sort of thing when it appears that the humourless berks who want to pass these rules feel no shame, no sense that they are infantilising the public? May 4th, 2005 | 3 comments - (Comments are closed)
I spent an enjoyable night at the theatre watching the musical, “Billy Elliott”, based on the film of the same name. It is the tale of a boy with ambitions to be a dancer, who lives in a northern English mining town during the time of the year-long miners’ strike of 1984-5 and is full of references to the political controversy of that time. How long ago it must feel to some of us who live in an era of far more peaceful industrial relations. We have become so used to the relatively low level of strike action in Britain compared with the madness of the 1970s that some people in the audience watching folk cavorting on the stage must have wondered what the issues were about. My fiancee, who is Maltese, certainly did. She was actually appalled at the biased presentation of the then Thatcher-led government in the musical. I pointed out that this sort of bias is pretty standard boilerplate for the sort of leftist folk who tend to dominate the thespian world. It is easy for us, from our vantage point 20 years after the strike, to bask in the sentimental glow of affection for a lost world of pits, working men’s clubs, marching brass bands and the rest. But at the risk of incurring the wrath of the commenters here, I did feel sympathy for a whole cluster of people who, faced with the iron laws of economics and a government determined to shake up the energy industry, faced losing their jobs and livelihoods. Even for a gung-ho proponent of laissez-faire like yours truly, the massive changes to our industrial landscape are not a story of unalloyed joy. It is a major issue for modern economies: how do we fully engage the energies of people who previously spent the years between 16 and 60 hewing coal out of the ground, riveting ships or working on car assembly lines? I cannot help but wonder that some of the problems of modern society, such as the loutish behaviour of young men, for instance, has something to do with the fact that in years past, young men who were not academic high-fliers nevertheless had a source of pride in doing something productive and in the case of mining, frequently very dangerous. That all said, it is to my mind a great sign of progress that we no longer expect tens of thousands of men to work miles under the ground to keep our ovens, street lights and heating systems working. May 3rd, 2005 | 35 comments - (Comments are closed)
With the price of crude oil holding over $50 per barrel, how long will it be before the more flexible parts of the Green movement start arguing that nuclear power is actually not such a bad idea after all? I ask this question because it seems to me that Britain, like a lot of other western nations, could be facing a Californian-style energy shortage fairly soon. It goes without saying that such an issue is completely off the political radar right now. Comment away! May 2nd, 2005 | 65 comments - (Comments are closed)
For those of you not able to drag your attention from our fascinating British national poll (okay, I’ll turn the snark button off now) there is always the European Union to keep us all amused. It emerges that the EU Commission has gotten a bit red-faced after it emerged that two saunas were installed in the new Brussels HQ out of consideration for its Scandanavian staff. This seems a bit mean. It must be nice to unwind and loosen those muscle pains after a hard day churning out interminable directives and figuring out new ways to shaft Chinese textile exporters. In fact, I would like to make a modest proposal: perhaps all such officials could spend a lot more time in saunas, not to mention theatres, cinemas, restaurants, nightclubs, race courses and football grounds. In fact, anywhere but their own offices. April 27th, 2005 | 5 comments - (Comments are closed)
Glenn Reynolds links to this article saying that the French government has put its support behind a law allowing the Chinese military to attack Taiwan as well as end the EU embargo of arms to China. So let me get this straight. France, a democracy (sort of) decides to let a communist dictatorship – China – acquire the necessary means and legal clearance to attack a democratic neighbour that has posed no threat or problem whatsoever to France (apart from cheap electronics, maybe). I guess that is what is known as nuanced foreign policy. Way to go, Jacques! April 21st, 2005 | 63 comments - (Comments are closed)
It seems a bit odd that the construction industry is going on a spending campaign to persuade smart young graduates to go into the trade. I am surprised that young people really need persuading. In this age of job offshoring, redundancies in the City and suchlike, it actually makes a lot of sense to get a skill in an area that cannot be easily outsourced. Many people in the construction, plumbing and electrical trades seem to be well off, far more so in fact than some young graduate toiling away in an office job. And thanks to new British regulations designed to prevent homeowners from performing any DIY activity more complex than install a shelf or rewire a plug – for their own good! – demand for construction and home maintenance professionals looks set to go on rising into the distance. Anyone with a supposedly “secure” job ought to think about adding another, non-outsourceable, skill. One thing I always notice about British plumbers, for example, is that they all drive Jaguars or Mercedes. It is not rocket science to figure out why. April 18th, 2005 | 36 comments - (Comments are closed)
The fine U.S. blogger and libertarian scholar, Tyler Cowen, who’s blog Marginal Revolution is well worth a visit (as if I did not have enough things to read, aarrgghh, Ed) has started a specialist blog devoted to tracking developments and medical research surrounding avian flu. Tyler is clearly worried about the spread of new and more powerful viruses and the threat this poses to the health to millions of people around the world. Rather interesting, I think, that the Internet, which helps to spread ideas with the speed of a virus, is now spawning blogs which are devoted to actual, existing viruses. April 16th, 2005 | 3 comments - (Comments are closed)
I attended a one-day conference on the EU Constitution today, drawing together an eclectic mixture of people from all parts of the political spectrum, both British and foreign, and all united on the need to get a decisive No vote in the event that Mr Blair decides to hold a referendum on one (let’s pray it is not done by postal vote, god help us). I attended the morning session and drifted home for lunch with my head still ringing with one of the best speeches by a politician I have heard for years. The politician’s name is Steve Radford and he is a Liberal Party councillor in England. His party is the bit that refused to merge with the old Social Democrats and decided to keep the flame of Gladstone, Richard Cobden and Joe Grimmond burning bright. Well, if Mr Radford’s performance was a guide, the Liberal Party is a very interesting outfit indeed. He denounced the European Union’s economic tariffs most effectively by holding up a bag of sugar and pointed out that the price of the bag is inflated fourfold by tariffs. He denounced the rampant corruption, cronyism and lack of democratic accountability of the EU, a situation which will get only worse if the EU Constitution becomes a fact. He was passionate in making the free market case – all too rare these days, and frequently very funny. It is refreshing to hear an actual big-L Liberal refer to the anti-Corn Law League and the great campaign to promote free trade by the likes of Richard Cobden. I don’t know about all his views on other subjects, but if every member of the Liberal Party were like this man, I’d very seriously consider voting for it. I hope we haven’t heard the last of this gentleman. April 9th, 2005 | 19 comments - (Comments are closed)
The UK Labour Party, having set in train the laws making possible the recent postal voting scandal in Birmingham, are no doubt hoping voters forget all about it in a day or so. Former Home Secretary David Blunkett, however, has done his bit to keep the light shining on the issue with a typically idiotic proposal: solve the fraud problem with ID cards. So, let’s get this right. The government, having created a system ripe for fraud and abuse, has one of its former members suggest that it be dealt with creating a system ripe for fraud and abuse. The Tories should give up now. They cannot compete with genius like this. (Side observation: this whole affair underscores why some libertarians don’t believe that democracy is a particularly reliable firewall against the corruption of power). April 7th, 2005 | 28 comments - (Comments are closed)
How do scientists work? Do they spend a lot of their time holed up in big buildings with lots of fancy equipment, work in large teams or mostly alone, with rumpled air and just a blackboard and lump of chalk trying to figure out the laws of physics? What sort of social lives do they lead and how do they handle the political, business and personal demands that come their way? How do they deal with hostility from jealous colleagues, skeptical review boards and college principals worried about expanding their budgets? If you ever wanted to know some of the answers to these questions as well as have a rattling good yarn told, then this book, an old classic by Gregory Benford, fits the bill. I have been engrossed in it for the last few days and I won’t spoil for any would-be readers by giving the ending or basic plot away. Let’s just say that this book actually gave me the feeling of actually working and living in a science lab, of hanging around scientists in the early 60s and later, in a sort of crumbling, environmentally troubled 1990s. Strongly recommended. April 6th, 2005 | 7 comments - (Comments are closed)
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