1 of 1712345678910...Last »

Tag Archives: capitalism

Corporate Welfare Is Terrible Policy, But Democrats And Republicans Do It Anyway

Crony capitalism is bipartisan, transpartisan even.

Though there is a general rule which holds, and that is that the degree to which a politician enables the state is the degree to which that politician will probably enable cronyism. The bigger the government the more crony the government. It’s just the way it is.

The only real way to fight crony capitalism is to lesson the catalyst which makes crony capitalism possible, government. There is no “electing good people” to government and then having a large government “work for the people.” Government corrupts. It is at best a necessary evil. For the most part, get it out of the way.

Read More

Honduran gangs choke small businesses with ‘war tax’

It is often said that the state is not that much different from a mafia. This is true and it’s not true. But to the extent it is true can be seen in the horrible business climate in Tegucigalpa Honduras.

Want to do business? Pay a crippling tax. Don’t pay the tax? Meet Mr. Bullet.

In the USA thankfully entrepreneurs are rarely shot by the government. But they are shaken down for taxes. And they can go to jail for not paying taxes.

Read More

Is the stock market really “rigged?”

I remember sitting in my car in college listening to Howard Stern on the radio before class sometime in 2000. Howard and his crew were talking about the stock market which was roaring. The Tech Bubble was in full effect. The sky was the limit. If you weren’t in the market you were losing out. It was a similar vibe to the Housing Bubble which would emerge only a few years later.

Stern took a call from a listener.

The caller, who sounded like he might have been on the tail end of a serious bender explained in candid terms that he was affiliated with some unsavory characters and that he and his unsavory friends were manipulating the market up. He said there was little under the prices of many of the stocks which were rising at breakneck speed.

In a few months we would see how right that caller was.

Read More

(The beauty of capitalism) Everything in this 1991 RadioShack ad exists in a single smartphone

This is from the Huffington Post via HigherPerspective.com.

Tech is pretty much the least regulated part of our economy. Is it any wonder why such miracles have been born? Just imagine the innovation which could be released in other parts of the economy if we allowed it.

The natural tendency is for prices to fall for consumers in a free economy. In a restricted and managed economy the goal is always to have at least a bit of inflation. That way the debt game keeps rolling.

Read More

Why do people fear the Kochs so much?

So the Kochs are going to spend a billion (on think tanks, etc.) in the next election. You know what? I don’t care.

Why Nick? You’re against crony capitalism. Super rich guys spending money on elections doesn’t concern you?

On one level it does. One should always keep a close eye on anyone throwing money around in the political sphere. If the Kochs ever try to buy a law for their benefit, if they ever posture for a crony handout paid for by the taxpayers we will be the first to highlight them.

But it’s not like the Kochs are trying to get the state to work on their behalf. They aren’t trying to leverage the power of the government for their ends.They aren’t like Tom Styer for instance, the biggest political giver of the last cycle who wants specific legislation enacted which will benefit his bottom line in addition to his political aims. The Kochs simply want a smaller state and that in my book is a very admirable thing.

Read More

Behind the 8% plunge in China’s stock market (today)

As we have noted for a while, the Ultimate Crony Capitalist state, China, is seeing very rough waters economically. A massive property bubble (and bust) fueled by Keynesian shortsightedness, not unlike the one we experienced here a few years ago, but much bigger is gripping the country. The Chinese dream is “maturing.” For the first time since emerging from the insanity of Mao the PRC is experiencing real economic pain.

Read More

San Francisco rent control contributes to housing shortage

This op-ed was written by a colleague of mine in San Francisco, Bill Shireman. His organization, Future 500 is a client.

I have written a number of times about the City by the Bay at ACC. It is a fascinating place. A refuge for the weird and for the rich and for the weird and rich. Jammed onto the tip of a peninsula, space is at a serious premium. Throw in a government which is very very “liberal” and all sorts of strange economic phenomena occur.

Read More

The entrepreneur, a vanishing species?

It’s hard to start a business. It takes skill, capital, tolerance of risk, and just good old hard work. Layer the red tape on top of all the things a business owner must contend with in the marketplace these days and it’s not surprising that we are losing more businesses than we are creating as an economy.

Read More

Champion of the market Tyler Cowen praises Keynes?

Tyler Cowen is considered one of the most influential market oriented economists in the world. He heads the increasingly important Mercatus Center at George Mason University just outside of Washington DC and his website A Marginal Revolution is widely read. I once heard him speak at a Students for Liberty conference where he was warmly received by 250 fire breathing young activists. Cowen has serious free market credibility. That’s why it is frustrating to see Dr.Cowen heaping praise on perhaps the most destructive economist to tread terra firma, JM Keynes.

Read More

Why Budweiser’s decline is a triumph of capitalism, taste

You think The Camp David Accords were Jimmy Carter’s only triumph? Well he has another – the end of the prohibition of home brewed beer. This law (no executive order needed) allowed the birth of the microbrew revolution. Truly, the world is a better and tastier place for this act of liberalization. I’ll raise an IPA to Jimbo.

Read More

Let’s all give thanks for our rogue founders, dissidents, gamblers, hunters, moonshiners, speculators

It’s easy to forget in this time of political correctness, in this time of regulated EVERYTHING, in this time of Black Friday sales, and Oprah Winfrey Shows, airbags, and helicopter parents that this country used to be a very rough and tumble place – and it wasn’t all bad. Indeed America was a blank canvas for many, full of opportunity as much as peril. America was a place where peasants came and carved out a living, in the hopes of achieving much more than just a living. Some, many, of them achieved real wealth. Something which could never have been achieved in Europe where society was stratified and barriers to entry of all sorts abounded.

Read More

GOP megadonor Sheldon Adelson (and casino tycoon) faces conservative rebellion over online gambling (his opposition to it)

Adelson has a giant checkbook. He has done very well over the years as the head of Las Vegas Sands. That is why nearly every GOP presidential hopeful (except Rand Paul) went to Las Vegas earlier this year to see if they could wrangle some of the magnate’s largess. Kiss the ring and then perhaps political funding will be showered upon you. A jackpot of sorts. Adelsohn is in the business of “jackpots.”

Read More

1 of 1712345678910...Last »