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Main Street Should Embrace Globalization | Cato Institute: "Free trade means we can buy fresh-cut flowers from Colombia in the middle of winter, along with fresh fruit from Chile and fresh vegetables from Mexico."
"A 2008 study found that trade with China has helped to offset nearly a third of the official rise in income inequality from 1994 to 2005. Lower prices on goods imported from China have more than compensated for any downward pressure on low-skilled wages because of U.S.-China trade."
Friday, June 28, 2013
Regulation and Its Unintended Consequences | Cato Institute
Regulation and Its Unintended Consequences | Cato Institute: "There are 39,000 individuals working full time to regulate the financial markets in the U.S. alone. What did they do when the bubble was inflated? Well, they helped inflate it."
"One former SEC commissioner admitted that his agency failed to develop open marketplaces for mortgage-backed securities because it was “distracted.” The object of its time and resources: grabbing power from other government agencies by starting to regulate hedge funds and introduce new types of supervision of mutual funds."
"One former SEC commissioner admitted that his agency failed to develop open marketplaces for mortgage-backed securities because it was “distracted.” The object of its time and resources: grabbing power from other government agencies by starting to regulate hedge funds and introduce new types of supervision of mutual funds."
Is Emergency Care a Failed Market? - Eric M. Staib - Mises Daily
Is Emergency Care a Failed Market? - Eric M. Staib - Mises Daily: "The free-rider problem in ER care is not a market failure, but a government failure. The Hippocratic Oath notwithstanding, hospitals only accept all patients irrespective of their ability to pay because they are required to by government regulations. These laws, which are in place in countries around the planet, result in a simple welfare scheme whereby the costs of the uninsured are transferred to insured patients."
"Without government regulations on their payment collection methods, hospitals would be free to offer more flexible prices and payment options, and to negotiate contracts with individual consumers. Those patients with little financial leverage would be able to form creative payment plans, and those without any savings or insurance could even contract to pay for their services with labor."
"checking out without arranging payment would constitute a violation of contract, and therefore these malicious free riders would be held accountable"
"In every market, firms of all sizes expend resources to maintain a positive public image. There are few actions better received by a community than healing and treating their vulnerable and disabled at a discounted or zero price. As such, it is absolutely foolish to believe that hospitals would not take in such customers for treatment."
"Without government regulations on their payment collection methods, hospitals would be free to offer more flexible prices and payment options, and to negotiate contracts with individual consumers. Those patients with little financial leverage would be able to form creative payment plans, and those without any savings or insurance could even contract to pay for their services with labor."
"checking out without arranging payment would constitute a violation of contract, and therefore these malicious free riders would be held accountable"
"In every market, firms of all sizes expend resources to maintain a positive public image. There are few actions better received by a community than healing and treating their vulnerable and disabled at a discounted or zero price. As such, it is absolutely foolish to believe that hospitals would not take in such customers for treatment."
Thursday, June 27, 2013
FTC to Regulate Blogging | Fox News
FTC to Regulate Blogging | Fox News: "requiring writers on the Web to clearly disclose any freebies or payments they get from companies for reviewing their products"
"fines up to $11,000 per violation"
That seems really steep!
"The commission stopped short of specifying how bloggers must disclose conflicts of interest."
You better hope you meet there unknown guidelines!
"the FTC will more likely go after an advertiser instead of a blogger for violations"
That could easily change in the future plus it encourages breaking the rules. They should instead only put the fine on the advertiser.
"fines up to $11,000 per violation"
That seems really steep!
"The commission stopped short of specifying how bloggers must disclose conflicts of interest."
You better hope you meet there unknown guidelines!
"the FTC will more likely go after an advertiser instead of a blogger for violations"
That could easily change in the future plus it encourages breaking the rules. They should instead only put the fine on the advertiser.
'Reform' Is Just a Word at the U.N., Its Own Investigation Shows | Fox News
'Reform' Is Just a Word at the U.N., Its Own Investigation Shows | Fox News: "After four months spent studying a much-touted “Integrated Global Management Initiative,” intended to improve the performance of the sprawling U.N. conference bureaucracy, the OIOS inspectors declared that they had discovered “no progress or change” in how the organization was able to allocate money and staff around the world.
Nor could the investigators discover any cost savings as a result of the global reform effort. In fact, the report says, “no attempt has been made to track any savings or efficiency gains.” "
"The investigators added that in some cases, records that could be used to compare the delivery of conference services had been “compromised” through “retrospective adjustment.” "
“an inordinate amount of time has been spent on discussions about the relative merits of off-the-shelf hardware versus customization and in-house versus external information technology expertise, resulting in a diversion of efforts to deal with the underlying substance of workflow practices.”
"Neither the U.N. Secretary General nor his top managers, the report notes, have removed some fundamental obstacles to change"
Nor could the investigators discover any cost savings as a result of the global reform effort. In fact, the report says, “no attempt has been made to track any savings or efficiency gains.” "
"The investigators added that in some cases, records that could be used to compare the delivery of conference services had been “compromised” through “retrospective adjustment.” "
“an inordinate amount of time has been spent on discussions about the relative merits of off-the-shelf hardware versus customization and in-house versus external information technology expertise, resulting in a diversion of efforts to deal with the underlying substance of workflow practices.”
"Neither the U.N. Secretary General nor his top managers, the report notes, have removed some fundamental obstacles to change"
The broadband adoption dilemma | Signal Strength - CNET News
The broadband adoption dilemma | Signal Strength - CNET News: "Roughly 96 percent of American households have access to broadband service from at least one service provider"
"But of those people, about 33 percent do not subscribe to broadband."
"after AT&T merged with BellSouth, the company introduced a $10-a-month broadband service to entice people to subscribe to broadband. While many customers signed up for this offer, there was still a significant number of people who didn't. In fact, some consumers continued to subscribe to dial-up service, even though that service was much slower and twice as expensive as broadband."
"But of those people, about 33 percent do not subscribe to broadband."
"after AT&T merged with BellSouth, the company introduced a $10-a-month broadband service to entice people to subscribe to broadband. While many customers signed up for this offer, there was still a significant number of people who didn't. In fact, some consumers continued to subscribe to dial-up service, even though that service was much slower and twice as expensive as broadband."
Labor Standards or Liberty? - Art Carden - Mises Daily
Labor Standards or Liberty? - Art Carden - Mises Daily: "Sweatshop opponents criticize the use of child labor in developing countries and argue that these children should be in school rather than the labor market. At current income levels, this simply is not feasible for many people. In subsistence economies, many people do not have the luxury of diverting their attention away from manual agricultural labor and toward education. The best way to fix this is not to mandate more stringent labor standards but to encourage economic growth."
"Western working conditions are not the relevant benchmark when we are talking about the quality of working conditions in the developed world. The relevant comparison is the worker's next best opportunity, which is always worse. As economist David Henderson has argued, we do a worker no favors when we remove the best of a lot of very bad possible choices."
"the increase in earnings associated with a lifetime of access to microfinance programs is roughly equal to the increase in income associated with working in the United States for eight weeks. This suggests that the appropriate policy is not to strengthen labor standards but to open borders and allow people to cross them freely."
"Western working conditions are not the relevant benchmark when we are talking about the quality of working conditions in the developed world. The relevant comparison is the worker's next best opportunity, which is always worse. As economist David Henderson has argued, we do a worker no favors when we remove the best of a lot of very bad possible choices."
"the increase in earnings associated with a lifetime of access to microfinance programs is roughly equal to the increase in income associated with working in the United States for eight weeks. This suggests that the appropriate policy is not to strengthen labor standards but to open borders and allow people to cross them freely."
The Health-Insurance Market Is Not Free - Anton Batey - Mises Daily
The Health-Insurance Market Is Not Free - Anton Batey - Mises Daily: "With community ratings in effect, an 18-year-old's premium is the same as 60-year-old's. Often, when a young and healthy person sees their premiums rise, he or she drops out of the insurance pool, which then leaves it more full of sick people, again increasing premiums for the remaining members. These community ratings contribute a great deal to the large number of uninsured, and are among the reasons why healthcare in New York and New Jersey is the most expensive in the country."
"Due to government policy, inflation grew both before and during WWII. As a "remedy," caps on wage increases were imposed by the government. In response, employers began to offer their employees health insurance to soften the blow and attract quality workers.
The federal government did not consider an increase in health benefits a violation of these wage controls, and in 1943 the IRS ruled that health benefits were tax exempt for workers. After the wage caps were abolished, health insurance benefits became seen as the norm and were not eliminated. For instance, by the early 1960s, General Motors was paying 100% of the healthcare bills for their employees (retirees included)."
"So, anyone who claims that the high costs of health insurance originated in the "free market" is either severely mistaken or lying."
"Due to government policy, inflation grew both before and during WWII. As a "remedy," caps on wage increases were imposed by the government. In response, employers began to offer their employees health insurance to soften the blow and attract quality workers.
The federal government did not consider an increase in health benefits a violation of these wage controls, and in 1943 the IRS ruled that health benefits were tax exempt for workers. After the wage caps were abolished, health insurance benefits became seen as the norm and were not eliminated. For instance, by the early 1960s, General Motors was paying 100% of the healthcare bills for their employees (retirees included)."
"So, anyone who claims that the high costs of health insurance originated in the "free market" is either severely mistaken or lying."
Pennsylvania Firefighter Suspended for U.S. Flag on Locker | Fox News
Pennsylvania Firefighter Suspended for U.S. Flag on Locker | Fox News: "James Krapf of Chester, Pa., violated a department policy that states personal items can only be posted inside employee lockers when he stuck the flag on the outside. According to Myfoxphilly.com, the firefighters' union warned 11 others to remove personal items or face similar suspensions, all without pay.
The initial ban came after an incident in which some firefighters complained about a cartoon posted in the firehouse that they found racially offensive."
When people misuse a freedom, you shouldn't ban the freedom completely.
The initial ban came after an incident in which some firefighters complained about a cartoon posted in the firehouse that they found racially offensive."
When people misuse a freedom, you shouldn't ban the freedom completely.
Misunderstanding Modern War | Cato Institute
Misunderstanding Modern War | Cato Institute: "Napoleon thought the message of French democracy would be welcomed. When France began to send its armies abroad following the revolution, its leaders thought they would be greeted as liberators. “It will be a crusade for liberty,” confidently proclaimed one of its leaders, Jacques-Pierre Brissot.
Not everyone was convinced. “No one loves armed missionaries,” responded Robespierre."
"Can it be that Americans convinced themselves that we could sanitise war, confine it to the “evil-doers” and thereby win almost effortlessly?
“It is well that war is so terrible – otherwise we would grow too fond of it,” Robert E Lee is reputed to have said at the Battle of Fredericksburg, during the American civil war.
Did Americans, intoxicated by successes, grow too fond of war?"
Not everyone was convinced. “No one loves armed missionaries,” responded Robespierre."
"Can it be that Americans convinced themselves that we could sanitise war, confine it to the “evil-doers” and thereby win almost effortlessly?
“It is well that war is so terrible – otherwise we would grow too fond of it,” Robert E Lee is reputed to have said at the Battle of Fredericksburg, during the American civil war.
Did Americans, intoxicated by successes, grow too fond of war?"
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