Do Capitalists Produce Nothing? - D.W. MacKenzie - Mises Daily

Do Capitalists Produce Nothing? - D.W. MacKenzie - Mises Daily: "Investors do not produce any actual physical product; they make the planning of production more rational. The efforts of 'workers who produce real goods' are wasted if production plans are defective. Matthews does not see how successful capitalists can shift production toward goods that consumers want most urgently. Profits derive from the sale of goods that garner the highest revenues from consumers over costs. Few people can predict market trends. Investors can earn or lose billions because their decisions determine whether the work of millions of ordinary people is productive or a waste of time"

The Cairo Garbage Calamity - Anders Mikkelsen - Mises Daily

The Cairo Garbage Calamity - Anders Mikkelsen - Mises Daily: "The documentary shows there was a functioning system of garbage collection that had co-evolved with the norms of Egyptian society. The government then stepped in to 'solve the problem.' It forced everyone to pay money to companies using western techniques that hadn't been adapted to the realities of Egyptian society. The companies couldn't cope with the quantity of garbage or managing Egyptian employees. The western-style companies apparently didn't recycle as intensively and couldn't provide low-cost daily garbage pickup like the garbage village system.

The garbage companies and government would also try to persuade people to change their habits to use the bin system that was convenient for companies, but less convenient than the old system. The companies were also unable to figure out how to efficiently collect the garbage that was lying around in easy-to-access piles on the side of the streets.

At the end of the film we learn that the government then killed all the pigs in garbage villages. The pigs were the key component for processing the vast quantities of organic garbage Cairo produces year round. As one would expect, this has vastly increased the amount of rotting garbage on the streets. The situation was so bad that even New York Times articles on the subject are clear that this is an example of government failure."

Zoning Laws Destroy Communities - Troy Camplin - Mises Daily

Zoning Laws Destroy Communities - Troy Camplin - Mises Daily: "With zoning laws, commercial, industrial, and residential areas are separated from each other. The result is blocks of houses, industrial parks, and strips of stores and restaurants. People have to drive miles to go to the store, to work, or even to the park. It is rare to go to the store and see anyone you know.

But imagine a neighborhood without zoning laws. It would then be possible to have, say, a small grocery store on the corner where you could buy fresh fruits and vegetables, bread, and meat. That store would likely be within walking distance, be owned by one of your neighbors, and be designed to serve the neighborhood."

"Zoning laws force you to have your business only in certain locations. This drives up the price of property for businesses, making it harder to start a new business. If I wanted to sell cookies (and I do make some good cookies), I would have to either buy some expensive commercial property or rent a place in a shopping center, get the proper permits and licenses (another barrier to entry into the marketplace), buy stoves and mixers, etc."

"With as many barriers to starting a new business as there are, it's surprising how many do get started. It's typically done by going into debt. This makes it even more difficult for the poor to get out of their poverty. Barred from starting a business at home by zoning and other prohibitory laws, they also cannot get loans due to their poverty and bad credit. Those who do manage to figure out how to make money spend the money frivolously for fear that if they save or invest the money, the government will punish them with fines and audits. Thus, these laws contribute to poor spending habits among the poor. The government can take away your property, but they can never take away the party you threw and had a good time at."

"When our jobs and stores are several miles away, we have to drive." "All that time driving creates large amounts of air pollution, contributing to lung problems and stress."

Innovations Aren't the Problem | Arnold Kling | Cato Institute: Commentary

Innovations Aren't the Problem | Arnold Kling | Cato Institute: Commentary: "First, many of the innovations were profitable not because they added social value but because they exploited regulatory anomalies. Second, the companies that lost money on these innovations were not allowed to fall by the wayside — instead, they were bailed out.

Many pundits claim that we allowed the financial system to be self-regulating during the euphoria. This is emphatically not the case. Without the anomalies created by the Basel capital regulations, the financial system would not have rewarded these innovations."

FOXNews.com - 80-Year-Old Chicago Man Kills Armed Home Invader

FOXNews.com - 80-Year-Old Chicago Man Kills Armed Home Invader: "No charges have been filed against the homeowner, but Chicago currently has a statute outlawing the possession of handguns. Its legality is currently being decided by the U.S. Supreme Court.

A high-profile Chicago attorney has already stepped forward offering to represent the man pro bono if he faces charges for possessing a weapon.

'Self-defense isn't just a right, it's a duty,' said attorney Joel Brodsky. 'If this man is prosecuted for saving his own life it's not just a travesty, it's justice turned inside out.'"

Chris Dodd's Carve-outs for Cronies | Mark A. Calabria | Cato Institute: Commentary

Chris Dodd's Carve-outs for Cronies | Mark A. Calabria | Cato Institute: Commentary: "The Senate bill, sponsored by Democrat Chris Dodd, claims to subject all 'too big to fail' institutions to greater federal supervision, but in fact it only mandates such regulation for bank-holding companies. Regulators would have to make a case-by-case decision on whether to apply it to other financial companies.

That's no minor oversight, because insurance companies, like AIG, tend to have thrift charters rather than bank charters. So, as the bill stands now, AIG and other insurers that accepted massive bailout funds, such as The Hartford, would not be automatically covered."

FOXNews.com - Congressman Boycotts House Resolutions Saluting Sports Champions

FOXNews.com - Congressman Boycotts House Resolutions Saluting Sports Champions: "Chaffetz called the resolutions a waste of time and money, noting that the votes can take up to 30 minutes and requires weighty documentation and work from clerks and staffers.

'I don't know how much it costs, but it ain't cheap,' he said.

Chaffetz said Congress should be paying attention to other matters.

'I don't see us doing resolutions supporting spelling bee champions and people making advances in medicine,' he said, adding that he's going to start introducing those types of measures."

FOXNews.com - No Consequences for Government Employees Who Charged Massive Shopping Spree to Taxpayers

FOXNews.com - No Consequences for Government Employees Who Charged Massive Shopping Spree to Taxpayers: "After the findings of the five-year investigation into the matter were revealed in September, three employees resigned, four retired and five employees faced possible reprimand. No action was taken against nine others, the Times reported.

The abuse of government charge cards is hardly a new problem.

A March 2008 report issued by Government Accountability Office estimated that “nearly 41 percent” of purchase card transactions made from July 1, 2005, through June 30, 2006 failed to meet “basic internal control standards.”"

Greek Loan Would Violate IMF Charter | Swaminathan S. Anklesaria Aiyar | Cato Institute: Commentary

Greek Loan Would Violate IMF Charter | Swaminathan S. Anklesaria Aiyar | Cato Institute: Commentary: "The articles of association of the IMF state clearly its aim to provide loans for balance of payments support. Greece has a huge fiscal need but no balance of payments need. Greek importers can get all the euros they wants from Greek banks, which get euros from the European Central Bank. The IMF is by definition a monetary authority, and Greece has no monetary issues — it surrendered its monetary powers to the ECB Bank on joining the eurozone. Some eurozone countries have fiscal crises, but these are Europe's problem, not the IMF's."

Ron Johnson receives GOP backing in U.S. Senate race | Hudson Star-Observer | Hudson, Wisconsin

Ron Johnson receives GOP backing in U.S. Senate race | Hudson Star-Observer | Hudson, Wisconsin: "Ron Johnson said he went into the Republican state convention hoping that the delegates would not endorse anyone – and he’s surprised they endorsed him for the U.S. Senate.

Johnson got 64 percent of the final vote Sunday over Madison developer Terrence Wall and Watertown businessman Dave Westlake.

Former state Commerce Secretary Dick Leinenkugel withdrew, saying a bitter primary would result in the re-election of incumbent Democrat Russ Feingold."

Certainly surprising!