“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 […]
Archive for the 'Capitalism' Category
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 […]
Sep8th2008
Nationalizing Freddie Mac And Fannie Mae Is A Good Idea
Published by in Capitalism, Economics and ModernPolitics. 2 CommentsLarry Summers, one of my favorite economists, explains why:
What went wrong? The illusion that the companies were doing virtuous work made it impossible to build a political case for serious regulation. When there were social failures the companies always blamed their need to perform for the shareholders. When there were business failures it was always […]
Jul7th2008
Our Collectivist Candidates
Published by in (modern day) Liberalism, Capitalism, Economics and ModernPolitics. 7 CommentsCato Institutes David Boaz criticizes the collectivist remarks of our presidential candidates:
On Sunday Barack Obama urged graduates of Connecticut’s Wesleyan University to devote themselves to “collective service.” This is not an unusual theme for a commencement address. But it was interesting how long he went on discussing various kinds of nonprofit activism without ever mentioning […]
Apr18th2008
What Is A Libertarian?
Published by in Capitalism, Economics, Environment, General, ModernPolitics and Myths. 0 CommentsDo you want to know what a Libertarian really believes in? Listen to the father of modern day Libertarianism, Milton Friedman define it without all the distortions and misrepresentations from those who claim to know what libertarianism is.
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Apr18th2008
Milton Friedman On Race, Poverty And Government
Published by in Capitalism, Chicanoism, Discrimination, Economics, Education, General, Hispanics (Minority Issues), Minimum Wage, ModernPolitics, Myths, Poverty, Vouchers and affirmative action. 2 CommentsYou need to a flashplayer enabled browser to view this YouTube video
From an old speech but just as relevant today as it was then.
Apr15th2008
“Europe continues, slowly and reluctantly, to deregulate its economies. In this it is following the US example. The American economy has some problems at the moment, but the EU’s governments are ever mindful of, and oppressed by, the long-term success of the American model. What is interesting is that the United States has been moving […]
Apr7th2008
Quote Of The Day
Published by in (modern day) Liberalism, Capitalism, Economics, General and Inequality. 0 Comments“Krugman and Bartels think the problem is the influence rich people have on public opinion and the policy process….They also keep banging straight into the problem that if government is empowered to heavily affect people’s fortunes, then people with the biggest fortunes will have the most at stake when it comes to influencing government. The […]
Mar12th2008
The Age Of Milton Friedman
Published by in Capitalism, Communism, Economics and General. 11 CommentsHarvard economist Andrei Shleifer has a new paper on The Age Of Milton Friedman that begins with:
The last quarter century has witnessed remarkable progress of mankind. The world’s per capita inflation-adjusted income rose from $5400 in 1980 to $8500 in 2005.Schooling and life expectancy grew rapidly, while infant mortality and poverty […]
Feb19th2008
“The number of poor people who can’t afford food for their children is a lot smaller than it used to be — thanks to capitalism. Capitalism didn’t create malnutrition, it reduced it. The globalization of capitalism from 1950 to the present has increased annual average income in the world to $7,000 from $2,000. Contrary to […]
Jan17th2008
“I am impressed that the strong majority of the world’s richest individuals (about 30 out of the 39 richest Americans) made their money rather than inherited it. The wealthiest individuals are mainly self-made because inherited wealth gets dissipated over a couple of generations through bad investments, or is given to various charities, or gets broken […]
