Anyone who has read us for very long knows that we’ve long been skeptical of the “Chinese Dream.” Back in 2011-2012 when union leaders and others were explaining to us that “state capitalism,” that is crony capitalism, worked because it was in China we urged caution. We argued that the economic data which came out of China was of poor quality. We argued that an economy based on patronage and centralized decree was destined for trouble. We argued that since prices weren’t free in China it was just a matter of time before real pain was felt.
Water policy in California is bizarre. I had no idea how bizarre until Jerry Brown declared his water emergency last week.
With 39 million people living in a semi-arid to desert environment (at least the southern 2/3 of California) doesn’t it stand to reason that at some point water might become a critical issue? A really critical issue? Doesn’t it also stand to reason that the people of California should be priority number 1 when it comes to water,
Because the people who populate Washington live for power. In planning there is power. Even if the planning causes all sorts of dislocation and inefficiency, there is still power in the planning.
Arthur Dent fighting a similar battle in the 1970s.
Local governments love to seize property for projects. Since the Kelo Decision such seizures often are blatant transfers of wealth from the relatively poor and unconnected to the rich and very connected. If your property isn’t generating enough tax revenue for the city fathers (and their underlings) watch out, a bulldozer my be on your doorstep soon.
China is a land of wonders. The joys of state capitalism abound in the ultimate crony capitalist state. Witness this gem of planning, a lovely condo placed smack dab in the middle of a massive highway. Very nice.
The government wants to know everything about you.
This is a great example of why the government should never manage the economy. The more government manages, the more it will mess things up. Over time this is nearly always true. It is absolutely true in China.
I often hear that the USA is a horrible polluter. That we use all the energy, expand our carbon foot print, and so increase the risk of global warming for the rest of the world.
Professor Williams is a favorite of mine, and I stumbled across this short video earlier today.