Must Reads For The Week 11/21/15
Krugman: Terrorism Will Be Good For The French Economy, at economicpolicyjurnal.com. You can’t make this stuff up. Here is a quote from the maestro: “[I once] facetiously suggest[ed] that we fake a threat from space aliens, to provide a politically acceptable cover for stimulus. Now France has been attacked, unfortunately by real terrorists instead of fake aliens, and Hollande is declaring that security must take precedence over austerity. Is this the start of something big? OK, obligatory disclaimer that will do no good in the face of the stupidity. I am NOT saying that terrorism is a good thing……..We’re just trying to think through some side effects of the atrocity.”
The money used for Government spending to fight terrorism (aka stimulus) has to come from some where. The money is just transferred from the private sector to the public sector. Which means actual resources are moved out of the productive private economy and into the unproductive Government economy. This is just a version of the Broken Window Fallacy. Here is an article I wrote in September of 2013 which explains the Keynesian stimulus dream, A Keynesians Dream, Cruise Strikes In Syria.
Roubini Says Paris Attacks Could Boost Eurozone Economy, at economicpolicyjournal.com. Another Keynesian economist Nouriel Robini says these attacks could boost Euro zone economy if the European Central Bank increases its monetary stimulus by a larger amount than it would have before the attacks. Comments from above apply to this article.
Mass Exodus! U.S. Doctors Fleeing Medicine, by Greg Corombos, at wnd.com. Experienced doctors are quitting their private practices and either retiring or going to work for a hospital. The number of doctors is decreasing because of retirement, and the doctors who go to work for the hospitals aren’t as productive as they were when they worked for themselves. We are losing the quantity, quality, and productivity. Didn’t we say this would happen in this post, The Reality Of Obamacare, and The Economics Of Healthcare vs. The Right To Healthcare.
Forget Insurance. These Doctors Only Take Fees, by Jen Fini, at delawareonline.com. Obamacare is creating a free market in healthcare. The question is will the Government allow this market, or will it stop this market?
Hillary Clinton Threatens Comedy Club For Making Fun Of Her, by Robert Gehl, at thefederalistpapers.org. Is she acting like a college student who doesn’t like free speech when it offends them. Or is she acting like the totalitarian that she has always been? There is only a difference in degree not kind, because both are totalitarians.
Colleges students don’t want to be challenged by diverse opinions. Only people who agree are allowed free speech, diverse opinions are verboten.
A Legacy Of Liberalism, by Thomas Sowell, at nationalreview.com. Must read of the must reads. Once again Thomas Sowell hits it out of the park. Here is an excerpt, “The current problem facing blacks in America owe more to the great society than to slavery……Liberals have wreaked more havoc on blacks than the supposed “legacy of Slavery” they talk about.”
The Myths Of The Industrial Revolution, by Richard Ebeling, at economicpolicyjournal.com. Excerpt from the article, “First, before the Industrial Revolution, life for everyone in all parts of the world, was “nasty, brutish, and short,” in terms of life span and the standard and quality of life. This was transformed by emergent industrial capitalism that offered an escape from the poverty, hardships, and class-based oppressions of feudal society.”
Extra Pay For Chicago Police And Fireman Is Excessive, Unsustainable, by Austin Berg, at chicagonow.com. 32 percent of 35,000 Chicago city workers made six figures last year. Public employees wouldn’t be able to get these kinds of salaries in the free market. It’s easier to strong arm politicians who have no incentives to say no to these public employees.
How Puppy Love Becomes Sexual Harassment, at targetliberty.com. Are we losing our minds?
LED Hand Lights Are The Latest Trend Among Biohackers, at neatorama.com. Why would you do this?
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