On the monetary front, we have a 12-year-old mega-bubble of fiat credit, stock buybacks, bloated balance sheets, and “infinite liquidity”. On the “real” front, we have a global economy with record forced unemployment, decimated supply chains, and whole industries on the verge of bankruptcy.
Tag: logic
Democide: Understanding the State’s Monopoly on Violence and the Second Amendment
Gun control is predicated on the belief that private citizens cannot be trusted with firearms. That the state should have a “monopoly on violence” because it is less violent than individuals. And that firearms should be taken away from private citizens because only the state is responsible enough to handle them. There is, however, a major problem with this: States are statistically far more violent than individuals. After all, in the 20th century alone, 262 MILLION people died at the hands of their own governments.
Trump’s “Free Speech” Doctrine: Never, Ever, Ever Mention He’s a Liar
On May 28, US president Donald Trump signed an executive order on “Preventing Online Censorship.” From the title and the document respectively we can draw to two lessons. First: Never, ever, ever believe the title of a government document.
Laughter Killed the Devil
Evil is self-serious. Oppressors and statists can only live by fear. Fear is the only thing they have. If they are not feared, they are nothing. They are a threat only to the extent people fear them as such. There is nothing – nothing – done by the state and the dictators who run it that can be done if people do not fear them.
Why Logic is Unpopular
The ancient Greeks spoke of three perspectives: pathos, ethos, and logos. From a pathos perspective, emotions and feelings take center stage. From an ethos perspective, reputation and tradition are what really matter. From a logos perspective, reason is what guides to wise action.
Curiosity: The Master Impulse
Curiosity is the greatest threat to concentrated power and prestige, so those who have power and prestige labor endlessly to create the mind-killing opposite of all curiosity. Consensus. Obedience. Being seen as “normal”, “in the know”, “respectable”.
Reflections on the Krikorian-Caplan Soho Forum Debate
Thanks again to Gene Epstein and Reason for sponsoring last week’s immigration debate between myself and Mark Krikorian. Thanks to Mark, too, for debating before an unsympathetic audience. The resolution, you may recall, was: The current pandemic makes it all the more necessary for the federal government to tighten restrictions on immigration. Here are my extra thoughts on the exchange.
Gouge Is Good
If you’ve bought anything in the past six weeks, you’ve seen shortages. In grocery stores, you’ve see empty shelves. Online, you’ve seen long waits. If you know econ 101, there’s an obvious explanation: price-gouging laws. When supply falls, the market’s normal reaction is to raise prices. Government’s reaction, however, is to paint the market’s normal reaction as vicious exploitation – and order prices to stay flat despite reduced supply. Shortages inevitably result. While this story has great merit, you don’t have to look closely to realize that it’s not the full story of shortages. Why not?
State Priorities, Not State “Capacity”
In the last few years, social scientists have started heavily appealing to “state capacity” to explain the wealth of nations. Why do some countries prosper? Because they have great state capacity. Why do others flounder? Because they have crummy state capacity. What do floundering countries need to do in order to prosper? Build state capacity, naturally.
From Telework to Flexible Wages?
The simplest explanation is that the current recession is terrible. Quite right; maybe it’s twice as terrible as the Great Recession. But last time around, I heard zero first-hand reports of nominal wage cuts, and near-zero such stories in the news. I can understand a doubling of incidents, but not this.