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How China will bury us | Cranach: The Blog of Veith: "Notice that this is NOT free market economics but state-run and state-directed economics that takes advantage of capitalist economies by means of state monopolies, coercive government power, and economic clout."
Central planning has been shown to be a failure (i.e. most communist nations) and it will once again be shown to be a failure.
Friday, May 21, 2010
Thursday, May 20, 2010
Doug's Diggings: School salaries raise plenty of comments | Hudson Star-Observer | Hudson, Wisconsin
Doug's Diggings: School salaries raise plenty of comments | Hudson Star-Observer | Hudson, Wisconsin: "Lord knows, all these administrators are hard workers and probably deserve more money. The problem is, the same could be said for all of us. The difference is that during the past couple of years, the vast majority of us are getting one of the following: no pay increases, pay decreases, pink slips, reduced benefits (401k contributions and health care) and plenty of anxiety about whether or not we’ll have a job in three months."
"Second, this all seemed a bit odd when compared to the timing of the recent school board election. The vote came after the election, but before the new board was seated. I’m sure there are a dozen reasons why it had to happen that way. But the school board should think a little bit about public perception — it doesn’t pass the smell test for most people.
Third, many people are unhappy that many district employees who are much lower on the totem pole have been relieved of their duties and driver’s education was eliminated because of cost factors. Again, maybe all justifiable moves, but it seems to point to a complete lack of perception or empathy from the people sitting on the top.
Fourth, people seem to get tired of this idea that salaries have to be comparable to similar districts, or neighboring districts. It’s a never-ending ladder. Once Hudson raises its salaries, District ABC uses the Hudson model to get higher salaries — when District ABC raises salaries, then Hudson must raise salaries again to be 'competitive.' I understand, of course, that we have to be in the ball park, but I think many people believe that the argument is overused."
"Second, this all seemed a bit odd when compared to the timing of the recent school board election. The vote came after the election, but before the new board was seated. I’m sure there are a dozen reasons why it had to happen that way. But the school board should think a little bit about public perception — it doesn’t pass the smell test for most people.
Third, many people are unhappy that many district employees who are much lower on the totem pole have been relieved of their duties and driver’s education was eliminated because of cost factors. Again, maybe all justifiable moves, but it seems to point to a complete lack of perception or empathy from the people sitting on the top.
Fourth, people seem to get tired of this idea that salaries have to be comparable to similar districts, or neighboring districts. It’s a never-ending ladder. Once Hudson raises its salaries, District ABC uses the Hudson model to get higher salaries — when District ABC raises salaries, then Hudson must raise salaries again to be 'competitive.' I understand, of course, that we have to be in the ball park, but I think many people believe that the argument is overused."
Is Aid a Matter of Justice? | Marian L. Tupy | Cato Institute: Commentary
Is Aid a Matter of Justice? | Marian L. Tupy | Cato Institute: Commentary: "Africa is poor not because of Western consumption and stinginess, but because it produces too little. Most economists agree that Africa's low productivity is, in large part, a result of bad policies, such as restrictions on private enterprise, bad institutions, and inadequate rule of law. Unfortunately, far from stimulating growth and reducing poverty over the last 60 years, aid has served as a disincentive to economic and institutional reforms.
Governments that depend on income taxes are generally more accountable to their citizens and more responsive to their citizens' desire to advance economically than governments that do not. In Africa, the constant flow of aid has stunted democratic and private sector development.
Moreover, foreign aid that was not wasted on white elephant projects was often stolen by African politicians and bureaucrats. Corruption insulated the elite from the negative consequences of its own actions. When the ordinary people rebelled, as the Ethiopians did after the rigged 2005 election, they were suppressed by their own troops, who were partly financed by foreign aid. According to Paul Collier of Oxford University, between 1960 and 1999, aid financed up to 40% of Africa's military spending."
Governments that depend on income taxes are generally more accountable to their citizens and more responsive to their citizens' desire to advance economically than governments that do not. In Africa, the constant flow of aid has stunted democratic and private sector development.
Moreover, foreign aid that was not wasted on white elephant projects was often stolen by African politicians and bureaucrats. Corruption insulated the elite from the negative consequences of its own actions. When the ordinary people rebelled, as the Ethiopians did after the rigged 2005 election, they were suppressed by their own troops, who were partly financed by foreign aid. According to Paul Collier of Oxford University, between 1960 and 1999, aid financed up to 40% of Africa's military spending."
Invention Awards: A Box That Keeps Plants Hydrated in the Desert | Popular Science
Invention Awards: A Box That Keeps Plants Hydrated in the Desert | Popular Science: "In 2006 Hoff took 25 Waterboxxes to Morocco’s Sahara desert, and after a year, 88 percent of the trees he treated had green leaves, while 90 percent of those watered weekly (the traditional local method) died under the scorching sun. He is conducting more experiments with 20,000 Waterboxxes in difficult terrains in places like Pakistan and Ecuador this year."
FOXNews.com - Fuzzy Math: Tax Cut Doesn't Add Up for Some
FOXNews.com - Fuzzy Math: Tax Cut Doesn't Add Up for Some: "It's an example of how the early provisions of the health care law can create winners and losers among groups lawmakers intended to help -- people with health problems, families with young adult children and small businesses. Because of the law's complexity, not everyone in a broadly similar situation will benefit."
Wednesday, May 19, 2010
Could the U.S. Become Argentina? | Richard W. Rahn | Cato Institute: Commentary
Could the U.S. Become Argentina? | Richard W. Rahn | Cato Institute: Commentary: "The U.S. has a per capita income of about $47,000 per year, while Argentina's is just $14,000 on a purchasing-power parity (PPP) basis. A hundred years ago, Argentina's per capita income was about 80 percent of that in the U.S. If Argentina had done as well relatively as the United States, it would have a per capita income of about $38,000 today. Countries can become wealthy in a few decades, as have South Korea, Taiwan, Hong Kong, Singapore and Finland, by following the correct economic policies. They also can become relatively poor, as have Argentina, Cuba and Venezuela, by doing the wrong things."
Read the article to see ways that we are following Argentina's path.
Read the article to see ways that we are following Argentina's path.
Ron Paul Challenges GOP's Foreign Policy Agenda | Doug Bandow | Cato Institute: Commentary
Ron Paul Challenges GOP's Foreign Policy Agenda | Doug Bandow | Cato Institute: Commentary: "Paul observed that conservatives, like liberals, enjoyed spending money, only 'on different things. They like embassies, and they like occupation. They like the empire. They like to be in 135 countries and 700 bases.'
Similarly, Paul said, conservatives talked about following the Constitution, 'except for war. Let the president go to war anytime they want.'"
"Indeed, the 'Defense Department' has become anything but. Most of America's forces do nothing to secure the U.S. They instead are employed to remake failed societies, impose Washington's meddlesome dictates, and subsidize populous and prosperous allies."
"The Europeans might have a larger collective GDP and population. The South Koreans might enjoy a GDP 40 times that of the North. Japan might have the world's second largest economy. Israel might be a regional superpower with up to 200 nuclear weapons.
Yet in GOP eyes all are helpless American dependents, to be defended by Washington at all cost — and apparently forever."
"The U.S. was created as a constitutional republic, with a limited national government bounded by law. Yet the last Republican administration claimed that the president could unilaterally, subject to review neither by Congress nor the courts, order the arrest and indefinite detention of American citizens in America."
"While U.S. citizens pay to defend dozens of nations around the world, those countries invest in business enterprises, economic research and development, and generous welfare states. Trade competitors cheerfully accept U.S. military troops while excluding commercial products.
The defense budget is the price of our nation's foreign policy, and the price is high. The U.S. is spending more than $700 billion annually on the military. In real terms that is more than at any point during the Cold War, Korean War, or Vietnam War. Today America accounts for roughly half of the globe's military outlays."
Similarly, Paul said, conservatives talked about following the Constitution, 'except for war. Let the president go to war anytime they want.'"
"Indeed, the 'Defense Department' has become anything but. Most of America's forces do nothing to secure the U.S. They instead are employed to remake failed societies, impose Washington's meddlesome dictates, and subsidize populous and prosperous allies."
"The Europeans might have a larger collective GDP and population. The South Koreans might enjoy a GDP 40 times that of the North. Japan might have the world's second largest economy. Israel might be a regional superpower with up to 200 nuclear weapons.
Yet in GOP eyes all are helpless American dependents, to be defended by Washington at all cost — and apparently forever."
"The U.S. was created as a constitutional republic, with a limited national government bounded by law. Yet the last Republican administration claimed that the president could unilaterally, subject to review neither by Congress nor the courts, order the arrest and indefinite detention of American citizens in America."
"While U.S. citizens pay to defend dozens of nations around the world, those countries invest in business enterprises, economic research and development, and generous welfare states. Trade competitors cheerfully accept U.S. military troops while excluding commercial products.
The defense budget is the price of our nation's foreign policy, and the price is high. The U.S. is spending more than $700 billion annually on the military. In real terms that is more than at any point during the Cold War, Korean War, or Vietnam War. Today America accounts for roughly half of the globe's military outlays."
FOXNews.com - Senate Approves One-Time Audit of Federal Reserve Lending
FOXNews.com - Senate Approves One-Time Audit of Federal Reserve Lending: "At its peak at the end of 2008, the Fed's lending totaled $1.16 trillion. Overall, the Fed's balance sheet ballooned to $2.3 trillion, more than double where it stood before the crisis struck"
When the are using that much money, it sounds arrogant that they don't want to be transparent!
When the are using that much money, it sounds arrogant that they don't want to be transparent!
FOXNews.com - Trillion-dollar euro rescue plan offers short-term relief, stores up longer-term problems
FOXNews.com - Trillion-dollar euro rescue plan offers short-term relief, stores up longer-term problems: "Still, the package did not resolve the basic dysfunction at the heart of Europe's monetary union: Governments can still spend recklessly and saddle their partners with the bill."
Sounds like a good idea -- spend a trillion dollars but don't address the cause!
"But because of the debt crisis, private banks in the U.S. have been leery of making loans to banks in Europe. Hence the need for the currency swaps between the central banks."
So if bankers think it is a bad idea to loan money, then the central banks think it is a good idea? How is that not madness?
Sounds like a good idea -- spend a trillion dollars but don't address the cause!
"But because of the debt crisis, private banks in the U.S. have been leery of making loans to banks in Europe. Hence the need for the currency swaps between the central banks."
So if bankers think it is a bad idea to loan money, then the central banks think it is a good idea? How is that not madness?
FOXNews.com - Federal Reserve Opens Credit Line to Europe
FOXNews.com - Federal Reserve Opens Credit Line to Europe: "Federal Reserve late Sunday opened a program to ship U.S. dollars to Europe"
How silly that some would want to audit the Fed and know details about what they are doing!
How silly that some would want to audit the Fed and know details about what they are doing!
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