Socialism has a half life. Once honest to goodness socialism is instituted it is only a matter of time before the system implodes on itself. The primary factor in the speed of collapse is the amount of fat within an economy before massive state intervention and redistributionist policies. If the disease of socialism, hard core socialism, think the USSR, Cuba, North Korea, and even places like Venezuela, really takes hold, if the state assumes pretty much every aspect of the economy,
Daniel Hannon from across the Atlantic puts his finger on the causes of much of the anger which is riling the West. The political class, the crony class, the smirking class, has taken the rest of us for granted while entrenching and enriching itself.
Both conventions will no doubt be ridiculous spectacles. But Uber feels that the spectacle in the City of Brotherly Love is more politically advantageous than hanging with Republicans. This despite the fact that Democrats across the nation have fought Uber’s efforts to expand at every turn and that both Clinton and Sanders have been highly critical of the company. (This is actually one of the main reasons Uber is passing on Cleveland of course. They are intimidated and figure Clinton will likely win so it’s not worth being “tarnished”
Occupational licensing makes life difficult for millions of would be entrepreneurs across this country.
In most cases such licensing is merely a way to restrict competition. Want to braid hair? Go get a license. Can’t afford the license and the ridiculous time requirements for a license? Well, too bad. Guess you don’t have what it takes to braid hair.
And the same goes for all sorts of occupations, even lemonade stands in many places.
This red tape contributes to poverty.
Yes this is an old video of Woody Harrelson. Yes, he has probably said a million things which are completely wrong. But in this clip he is basically right. Vote for what you want at the grocery story, at the car dealership, at the bank. In a private economy where responding to the customer matters, you have considerable power.
In a world dominated by government, your power is greatly diminished however.
Not only is it good, it is often spectacularly good.
It’s not just me saying this. This is an assertion which can be measured and seen. Anyone who does not understand that capitalism has made the world a better place, has filled stomachs, cured diseases, has helped people broaden their horizons, and has just generally made things in this life more tolerable either doesn’t understand what capitalism is or has simply never looked into the matter objectively.
It really does blow my mind that so many supposedly educated people do not understand what a force for good capitalism has been.
I find it funny (and terribly sad) that so many supposedly informed and educated people don’t understand what a miracle capitalism (and the Western tradition, including English common law) truly is. Many of us, perhaps most of us wouldn’t even be alive today if it was not for the concepts which spread from northwestern Europe, to North America, and then beyond. We live in amazing wealth. Even the poor in the West have amazing wealth relative to the poor throughout history and relative to parts of the world where commerce is stifled by statism,
The folks in Washington are trying to bail out Puerto Rico with taxpayer money. Watch, as Illinois and other states and cities with massive government sectors and high taxes continue to crumble they will start agitating for their own bailouts. Again I say it’s time to consider carving out the big cities. They seem to hold the rest of the country in contempt anyway. I say let the big government islands bail themselves out if they fail to come to terms with fiscal reality.
The prime mover of crony capitalism is the Federal Reserve system.
Occupational licensing in most cases is simply a crony ploy. It’s not about public safety. It’s about creating barriers to entry for people seeking to business in the marketplace. On net such licensing hurts society and particularly the young and the relatively less well off.
The chief reason we have witnessed miracles like the one below (and truly it is a miracle) is because unlike most industries tech has operated with minimal regulation and has remained highly competitive. In tech, success comes from out innovating one’s competitors not in getting in tight with the right politicians and regulators. (At least this has been the case though Google seems to be getting cronier by the day.)
Funny how socialism makes one appreciate the finer things in life, like simple price discovery.
Jeffrey Miron is someone people should know.