Must Reads For The Week 5/28/16
How The TSA Kills Hundreds of People Every Year, by Joseph T. Selarno, at mises.org. Regulations aren’t implemented in a vacuum. People have options on how they will deal with any particular regulation. In this case, instead of putting up with the screening process at airports, people are deciding to drive instead of fly. This means a certain percentage of these people are dying in traffic accidents instead of arriving safely via air travel. It’s not possible to know the exact number, but we don’t need to know the exact number to know that more are dying. Another example of the unseen consequences of regulations.
New Poll 9 in 10 Native Americans Aren’t Offended By Redskins Name, at washingtonpost.com. Once again the left makes up a fake crisis in order to dictate their vision of the world on the rest of us. Ever since the Indians sold Manhattan for $24 and some beads, the left doesn’t trust Indians to make good decisions for themselves, so the left will make the decisions for them.
Former McDonald’s CEO Crushes The Minimum Wage Lie, at zerohedge.com. When you raise the price of labor above what it can marginally produce, it will go away. In this case automation will take the place of minimum wage workers. I always ask proponents of the minimum wage this question: What is 15 dollars an hour times zero hours a week? (That which is seen and that which is not see).
EPA Mandates Renewable Fuel Levels Above 10% Blend Wall, at instituteforenergyresearch.org. Government ethanol mandates do three things. 1) Increase the cost of gasoline. 2) Decrease fuel efficiency. 3) Decrease the life of engines. The ethanol industry profits (that which is seen), and the consumer pays the cost of the regulation (that which is not seen).
Bill To Allow 9-11 Victims to Sue Saudi Government Turns Out To Be A Chuck Schumer Led Scam, at economicpolicyjournal.com. Schumer stuck an amendment into the bill at the last minute which allows the Secretary of State and/or The Justice Department to stop any litigation. Who would have thought the Chuckster was capable of something like this?
VA Sec. Compares Wait Times At VA To Waiting For A Ride At Disney, at tammybruce.com. This can’t be true! I thought when Obama got rid of the VA Secretary two years ago, and replaced him with Bob McDonald, everything would get fixed? In my post “Incentives Matter” written when the change was made (2014) we explain why changing the person in charge without changing the incentives wouldn’t make a difference.
Elizabeth Warren: Uber Hater, at economicpolicyjournal.com. She said, “Uber and Lyft fight against local rules designed to create a level playing field between themselves and their taxi competitors.” Mrs. Warren (aka Pocahontas), these rules were put in place to tilt the playing field in favor of the existing cartel. A level playing field would be one with no regulations. Of course there is no role for politicians on a truly level playing field.
India’s Government Just Went Into Overdrive In Its Harassment Of Apple, at economicpolicyjournal.com. This is protectionist regulation that will marginally help the local businesses and hurt the consumers. (that which is seen and that which is not seen).
Why Aren’t Female Soccer Players Paid More? by Ryan McMaken, at mises.org. Just because you work as hard as someone else doesn’t mean you will get paid the same wage. You get paid on the value you produce, as judged by the evil consumer, regardless of how hard you’ve work. In this case, consumers don’t value watching female soccer. If they did, women would get paid more. There’s a difference between merit and value. Merit is me working as many hours as Bill Gates and thinking I should get paid as much as him. Bill Gates produces more value for more consumers than I do, and gets paid for the value he produces, as do I.
Cash Banned, Freedom Gone, by Thorsten Polleit, at mises.org. The recent talk about negative interest rates only works for central banks if they get rid of cash and make everything an electronic transaction. If every exchange is seen by the state: Do you have freedom?
Freud would have a field day with this!
Sorry I couldn’t help it.
Tags: 9-11 Victims Bill a Scam, Banning Cash, Bill Clinton and Bill Cosby, Chuch Schumer, EPA Ethanol Mandates, Female Soccer Players Get Payed Less, Indian Gov. Protectionist Legislation against Apple, Losing Freedom, McDonalds and Minimum Wage, Merit vs. Value, Native Americans Like the Name Redskins, Pocahontas, That Which Is Not Seen, That Which Is Seen, TSA Kills 100's Each Year, Uber Hater: Elizabeth Warren, Unintended Consequences, VA Isn't Fixed?You can comment below, or link to this permanent URL from your own site.