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.
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Thanks to our vigilant commentariat, I read this excellent, pithy demolition of central banking by Jamie Whyte, the banker and writer on philosophy and other subjects. Good on the Times (of London) for running it. It’s a healthy antidote to the flawed semi-Keynesian nonsense of Mr Kaletsky.
“When I stacked the shelves at my father’s grocery store, and I finished bringing the boxes up and emptying them and pricing everything, I wanted to see the shelves just sparkle. I called my dad over – I had a great father – he’d pat me on the back, “Fantastic!”
Ed Snider, American sports entrepreneur and philanthropist, from an interview with Stephen Hicks. This quote, I hope, gives some flavour of the zest and energy of a great, principled businessman who does not seek government handouts or favours. The interview is long but worth a read.
…says the person calling himself the Right Honourable Alan Johnson MP.
Amusing comments.
A friend (you know who you are) informed me that the Economist magazine was “getting better”, for example it had a lead story denouncing government debt. Of course this was the government debt that the Economist had urged government to take on (to bail out banks and other corporations and then to “stimulate the economy”), but it was good that it was denouncing the debt.
So I decided to give the Economist a chance and read their article (“editorial”) on American health care. After drinking a bottle of cider to recover (what a nice new bottle shape Henry Westons have produced) these on my thoughts upon that article:
It starts with a lie – Barack Obama was elected in part because of his plans to “fix American health care”.
In reality it was Hillary Clinton who stressed her health care plan during the Democrat primary campaign (Barack Obama just attacked her plan and made vague noises about his own). And during the general election campaign it was John McCain who came out with a specific health care plan, allowing people to buy health cover over State lines and switching the tax deductibility of buying health care cover from employers to individuals, whereas Barack Obama just (dishonestly) attacked the McCain plan and was vague about his own.
Barack Obama was elected President of the United States for several reasons (white guilt about mistreatment of black people, the total ideological devotion of the education system and the mainstream media, the insane judgement by John McCain to back the bank bailouts…), but stressing some specific plan to “fix American health care” was not one of them.
Still the Economist does not let the truth stand in the way of its articles, so it then outlines its position.
“Starting from scratch their would be a good case for a mostly publicly funded system” even for a magazine “as economically liberal as this one”.
This is a standard Economist trick – propose some form of statism and defend it by saying even we, the free market ones (the European meaning of “economically liberal”), are in favour of this statism. Of course the Economist never actually produces any evidence that it is pro-free market – but it is at trick it has been using since Walter Bagehot (the second editor, the first editor actually was a free market man) so I suppose it is a lie hollowed by history.
However, we are not “starting from scratch” so the Economist reluctantly concedes that some little freedom (about half of American health care is already government funded and the rest is tied up in regulations – facts that the Economist avoids, see later) must remain for awhile – it suggests five years. → Continue reading: The ‘Economist’ and American health care
There is a bit of a debate going on over at The Corner, the National Review’s group blog, on whether the 150-year sentence meted out to Ponzi scheme fraudster Bernard Madoff is excessive. Well, given that the man is 71 years old, it is academic anyway since he will die in the slammer. But clearly, the length of the punishment is symbolic, though the judge could be accused of grandstanding – it might have been easier simply to sentence Mr Madoff to life imprisonment and have done with it.
From a philosophical point of view, I am not sure whether such a sentence has much of an effect in deterring future fraudsters; the trouble with the notion of restituting victims of crimes, however, is that what on earth can a convict like Madoff do to pay back his victims tens of billions of dollars? If he did some kind of work until he dropped dead, it would be unlikely that he could generate a fraction of the wealth that has been taken from people. In some cases, folks lost their entire life savings. Now the snarkier folk out there might say, well, his victims were all incredibly rich so they will not suffer, but that is nonsense. Theft is theft; if you have honestly built a fortune and some shyster takes the lot, that’s a crime, period.
But there is a problem with the idea of compensating victims when the size of a fraud is this huge. I’d be interested in what commenters think might be some practical solutions.
Some speculation is already generating about who might get the top job at the Institute of Economic Affairs, the think tank in the UK that is, in some ways, the grand-daddy of free market think tanks in the UK. John Blundell is going, having been in the post for some time. Guido has some rather barbed comments about Blundell. Guido mentions an old journalist friend of mine, Allister Heath, as a candidate. Allister would be great – but he is anyway going great guns at the financial paper, City AM, and may also have his eye on other journalistic positions in the future. But he would be a very strong choice for the role, although selfishly, I’d prefer it if those few of us who are libertarian journalists stayed in the profession.
In some ways – these things are not easy to measure – I get the impression that more focused groups such as the Taxpayers’ Alliance have been making far more of the running in recent years than the IEA, while the Adam Smith Institute has been doing a lot of outreach work with universities and colleges, which is vital. But the IEA has a tremendous pedigree and it ought to be a coveted position to go for. The only reservation is whether it can command enough of a budget to get in someone at the right level.
I rather like the recently-launched magazine of UK current affairs, Standpoint. This item on Ken Loach, the film-maker, is particularly good.
I wish the magazine success and it should give publications such as The Spectator, Prospect and The New Statesman a run for their money.
“Brown’s claim that he’d increase public service spending year after year is not an exaggeration, it is a lie. I cannot think of any modern Prime Minister who has based his strategy on a demonstrable lie – but Brown thinks no one can add up enough to expose him. After all, he got away with it as Chancellor. Why not now? As I have said before I believe the internet will hound him. We have infinite space to print the tables, the data, the proof. The table above spells it out, and we will keep reprinting it every time Brown repeats his lie. He is going for broke – in every way.”
Fraser Nelson, continuing his relentless and admirable campaign to track the sheer, barefaced dishonesty of Gordon Brown.
Of course, politicians have always, with varying degrees, told lies or only partial truths, and Brown is hardly an original in this regard. Arguably the greatest lie, or set of lies, told to the UK electorate were told in the period leading up to the UK’s entry into the-then EEC, later European Union: namely, that our entry into the Community was in no way a loss of national sovereignty. In fact I am sure that I recall reading – sorry, cannot find the source – such pro-EEC journalists as Hugo Young saying that it was admirable and necessary for the likes of the late Edward Heath (curses be upon him) to bullshit the public.
Even so, Brown’s denial of his own budget arithmetic, when it can be so easily checked, is a jaw-dropper. But what is encouraging is that parts of the media, even the fairly lefty bits, are not buying the line that there will be no cuts in spending over the next few years.
Of course, if Brown is refusing to make spending cuts, then I guess that fits with the whole “scortched earth” idea that he has: he knows Labour will lose the next election, probably quite badly, but out of a mixture of low cunning and sheer evil, he wants to bequeath a terrible inheritance upon the next government.
Yes, I said evil. Mr Brown is an evil man. In fact his invocation of his puritanical Scottish religion is part proof of that.
I feel sure that early man would not have embarked on the road to civilisation if he had thought that, one day, humankind would arrive at a point where one man has the right to determine how much beer another man may take into a field in the middle of the night.
– Jeremy Clarkson, on the over-policing of midsummer at Stonehenge.
Is there no U-turn that this shameless government will not indulge, helped by their handmaiden, the Daily Telegraph? At least, Brogan fences the slurry in, although it oozes and drips through the cracks in the fence. Now, casting my mind back, I seem to recall that targets, micro-management and huge public expenditure without gain are all hallmarks of one G. Brown Esq. So how can this ‘target culture’ be derided as Blairite?
In an interview, Mr Byrne said: “We need a power shift from Whitehall ministers and civil servants that currently have the power and move it to citizens.
“We know the argument for public services has got to change so we have been developing a strategy that takes public services away from a target culture to giving people rights and entitlement to core public services.”
What will this shift entail? Liam Byrne describes this latest stage of reform, and when did we never have a period of reform, as giving individuals a set of rights and, if they are not met, you get to complain.
Well, as a member of the public, I would like to demonstrate near Parliament, wear a “Bollix to Brown” T shirt and ensure that nephews could read. And I can complain to the people who buggered up in the first place. And what do people want when they complain? They want redress. If they can’t get the rights, they get the compensation.
A new way of using your money to puff up Brown’s largesse and promote dishonesty. Incentives to lie and cheat by crying that rights are infringed, to be bought off by gold, all helped out by that nice Mr Brown, who understands my needs. This is one last ditch effort to bribe the electorate at the expense of widening compensation culture and increasing something for nothing expectations.
Good thing the money has run out.
Did you hear that Michael Jackson has gone to meet his other maker?
– Adriana Lukas, delivered deadpan during luncheon.
A nice piece by Jesse Walker at Reason about the late Michael Jackson. I think Off the Wall was one of the first pop albums I remember listening to, and of course Thriller, with that unbelievable video, was the one that helped propel MTV as a vehicle for music. Those two records remind us not only of what a great performer Jackson was in his heyday, but also of the musical genius of Quincy Jones. Yeah baby!
I also sympathise with Jonah Goldberg, who is a bit caustic about the whole spectacle of mourning. The weirdness and the allegations of criminality that swirled around Jackson in his life are well chronicled, and should not be brushed under the carpet. And remember that people, who are unknown to all but their family, work colleagues and friends, die of heart attacks every day. The truth is, that unless we take a bet on cryonics and join the Singularity, that the Grim Reaper gets us all eventually.
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