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A worthwhile clip.
Archive for the 'Capitalism' Category
Jan18th2012
Oct10th2011
Economist Russ Roberts writes:
The death of Steve Jobs is a useful reminder of the fact that much wealth is not winner-take-all but winner makes everybody better off. Steve Jobs’s estate is estimated to be something between $6 billion and $7 billion. About 2/3 of that is Disney stock he received when Disney […]
Sep14th2011
“Save for the one transcontinental line that received virtually no subsidies (J.J. Hill’s Great Northern), the building and operation of the other three lines were contaminated with graft, fraud, and corruption – of which the Credit Mobilier scandal is only the most famous instance. And on top of these shenanigans that […]
Jul29th2011
The Deregulation Era And Developing Countries
Published by in Capitalism, Economics, Inequality and Poverty. 1 CommentLefties often label the era from the late 1970’s to today as the era of deregulation where wages stagnated, income inequality increased, and overall the rich got richer at the expense of the poor. They argue that we should go back to the economic era from roughly the end of WWII, to the late 1970’s. […]
Jul8th2011
Timothy Taylor explains:
Over the last 2010 years, 55% of total economic output happened in the 20th century, and an additional 23% of the total in just the first 10 years of the 21st century.About 28% of the total years of human life lived in the last 2010 years happened during the 20th century, and about 6% […]
May23rd2011
BusinessWeek reports:
Wages are going up even without the government’s prodding. The development of China’s west has turned interior cities such as Chongqing into production centers that compete for labor with coastal factories. The pay of the migrant laborers who fuel China’s export industry rose by 40 percent in 2010, according […]
Mar21st2011
If You Were Bill Gates, How Would You Solve Poverty?
Published by in Capitalism, Economics and General. 0 CommentsIf you were Bill Gates and had ten billion dollars to spend to solve poverty, what would you do? David Henderson, an economist at the Naval Postgraduate School, posed precisely that question to various economists at his school and those of us that read his blog. This is what I wrote:
I’ve actually been thinking about […]
Jun9th2010
“I believe that greater concentration of power in the hands of government experts is wrong for two reasons. First, other things equal, it diminishes the liberty and dignity of the typical individual. Second, I believe that experts systematically over-estimate the value of what they know and under-estimate the value of what they do not know.” […]
May3rd2010
“All of this hints at the problems that plague many of the studies Ezra and others have been citing, showing marvelous results from insurance: as I said in the beginning, uninsured are not like the rest of us. Do I think that my risks would shoot up to match those found by the studies Ezra […]
Feb22nd2010
“Scientists now think that King Tut may have died of malaria….this is a good excuse to meditate on just how rich we are. King Tut was probably the wealthiest man in the world during his time. He died of something that wouldn’t kill the most abjectly immiserated welfare mother in the United States today, because […]
Aug6th2009
The late Milton Friedman made the argument 8 years ago:
A more radical reform would, first, end both Medicare and Medicaid, at least for new entrants, and replace them by providing every family in the United States with catastrophic insurance (i.e., a major medical policy with a high deductible). Second, it would end tax exemption of […]
May22nd2009
The Invisible Hand vs Charity
Published by in Capitalism, Chicanoism, Economics, Hispanics (Minority Issues), Personal and Poverty. 3 CommentsOne of the major problems I have with Chicano Studies is its overemphasis on altruistic ventures as opposed to “personal gain”. Becoming a community organizer, for example, is more encouraged than becoming an engineer. This was particularly important to me last year when my sister, being in her junior year of high school, was applying […]
Dec8th2008
What Capitalism Is Doing To India
Published by in Capitalism, Discrimination and Economics. 2 CommentsA great article in the New York Times, see here.
A couple of snippets:
Mr. Prasad was born into the Pasi community, once considered untouchable on the ancient Hindu caste order. Today, a chain-smoking, irrepressible didact, he is the rare outcaste columnist in the English language press and a professional provocateur. His latest crusade is to argue […]
Nov3rd2008
The Rustbelt Model-Coming to a theater near you?
Published by in Capitalism, Economics and Unions. 3 CommentsI have to say, having lived in Michigan for 2 years, I can still visualize the extent to which strong unions, a heavy reliance on big government and a general hostility to free markets can destroy an economy. Obama’s economic policies remind me of the same characteristics that brought the upper-Midwest to its knees. […]
Oct24th2008
“Saying that “greed” caused today’s problems is like saying that gravity caused the death of someone pushed from the top floor of the Empire State building. Some things are sufficiently constant in human affairs - and self-interest, even greed, is among them - that they explain nothing. “Greed” certainly can be unleashed to do […]
Oct20th2008
20/20 Politically Incorrect Guide To Politics
Published by in Capitalism, Economics and ModernPolitics. 4 CommentsAppeared on Fridays 20/20, a must watch series, reproduced below:
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You need to a flashplayer enabled browser to view this YouTube video
You need to a flashplayer enabled browser to view this YouTube video
You need […]
