The US government’s debt: “102,984 for every person living in the U.S.”* How’s that for secular Original Sin? Suppose you’re an infant just born into this world. You haven’t done anything yet — but you’ve inherited the financial misdeeds of earlier generations and will spend the rest of your life paying for them. * Source: […]
Government debt as secular original sin Read More »
I’m a fan of Arnold Kling and Nick Schulz’s From Poverty to Prosperity: Intangible Assets, Hidden Liabilities and the Lasting Triumph over Scarcity. I wrote about it here. It’s about Economics 2.0, as they call it, one key feature of which is putting the entrepreneur front and center — in contrast to much of traditional
Entrepreneur and Un-entrepreneur characteristics Read More »
One regularly reads or hears condemnations of the power of business corporations in the modern world. So let’s think about the nature of power. Witness Warren Buffett. Buffett is currently the sixth richest man in the world and head of the powerhouse Berkshire Hathaway corporation. I’m not a fan of his political or economic views,
Anecdote: Warren Buffett and the power of corporations Read More »
Reposting this question: In this post-colonial era, what explains the dramatically different levels of prosperity in nations after they become independent of their colonizing powers? Why, for example, has the prosperity of North America been consistently higher than that of Central and South America? Both are rich in natural resources, both involve nations started from scratch,
Empires of conquest and empires of commerce Read More »
Reprising “The Wolf and the Lamb“: A wolf came upon a lamb that had strayed from the flock, and he felt some compunction about taking the life of so helpless a creature without some excuse. So he cast about for a grievance and said at last, “Last year, you grossly insulted me.” “That is impossible,
Aesop on politicians and rationalizing tyranny Read More »
How some political ideologies depend on the self-induced selflessness of their members. Here is Arendt in The Origins of Totalitarianism speaking of both Nazism and Communism: “How little the masses were driven by the famous instinct for self-preservation … . The fanaticism of members of totalitarian movements, so clearly different in quality from the greatest
Is everyone selfish? Hannah Arendt quotation Read More »
I re-read Eric Mack’s “Blind Injustice” [updated link], an excellent overview and critique of John Rawls’s A Theory of Justice. Rawls’s book is the most influential work of academic political philosophy in the last half-century, and Mack’s essay is the best short analysis I know of. By contrast: The moral basis for Rand’s liberalism, in
Philosopher Eric Mack on John Rawls Read More »
An analogy of books to money. As an exercise of imagination, let us suppose that the following were a true description of our publishing industry: * Only the government may print books.* The government decides how many books may be in circulation at any given time.* The government determines the initial price at which books
Money and Books: monopoly and censorship analogy Read More »