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Basically, it is part of the genius of capitalism that Schumpeter described thus: it does not provide more and more stockings for princesses, it provides them at lower and lower prices for more and more girls. Wealth is "stuff being produced", not "dollars being spent". Every time prices of something go down and the money saved gets spent on more stuff that would not have been made at all otherwise, the national and/or global economy grows. There is no other way to explain economic development. Zero-sum theories fail every time, whether they are Keynesian or not. Theories where it is only dollars spent that matter, are doomed to failure. It is perfectly possible to have systematic deflation in prices, and steadily rising production of goods and services and economic development and prosperity. In fact even with our money-expansion policy fetish, the very things that have been underlying increased production and real wealth, are things in which the prices HAVE fallen substantially. Cellphones, for example. Plenty more examples too.
"...collective bargaining of public unions needs to go the way of the dinosaur. Public unions and the hack politicians who support unions have wrecked more city and state budgets than the next 10 things combined..." Exactly. Ann Coulter nailed this in a classic column nearly 4 years ago. http://humanevents.com/2011/02/23/look-for-the-union-fable/
Why does it take US pundits so LONG to see that these problems mostly occur in the cities where planning and zoning has strangled the supply of land for urban growth? Wendell Cox, Randal O'Toole, Robert Bruegmann, Richard Morrill, Peter Gordon, Edwin Mills and others are CORRECT about this but almost no-one is taking any notice of them. Unwise mortgage borrowing in Atlanta on a median price of around $120,000 is definitely not going to tank the whole US economy, in contrast to libbewwal, enviro-protecting California where they have driven the median house price up to around $500,000 and a lot of the stupid mortgage borrowing is for mortgages - 100% and non-recourse - of 1 or 2 MILLION dollars - for houses that should be $400,000 and turn out to be that when the inevitable crash comes. It is actually much easier to see this using global data - housing markets one after another have tipped into this absurd unaffordable, mortgage-binge condition after the urban planners decide to save the planet for Al Gore. Toronto, Auckland, Melbourne; Vancouver started doing this in the 1970's, Ditto for Stockholm; the UK started doing in in the 1950's. The causations are undeniable. WAKE UP!!!!!!
I don't see any national outcry about law enforcement officers killed in the line of duty. http://www.odmp.org/search/year Mightn't they be a bit less "trigger happy" if there was less of a sensation that they, not the crims, are "fair game"? The lefty-libbewwals Quisling ideology is also behind military personnel getting locked up for "murder" - when they were on the front line and the rules are "kill or be killed". http://www.commdiginews.com/politics-2/obamas-military-contempt-the-outrageous-treatment-of-clint-lorance-6028/
Singapore is an interesting illustration of economic freedom where it matters, and pragmatism where the free market might not be such a good idea. For example, Singapore's sheer lack of land means that it would be asking for trouble to have a totally free market in land. Therefore title is leasehold only and property rights almost non-existent - Singapore's urban planners get to do pretty much what they like where they like. A typical Anglo-style free market and property rights in land would seriously undermine Singapore's efficiency and competitiveness, because it would be a rentiers and speculator's paradise. Lee Kuan Yew is a genius and I wish he had been leader of a far larger nation - I think the pragmatism regarding land would have been unnecessary. I would love to know what he thinks - would he agree with Houston-type urban land markets given adequate land space?
That is a very interesting finding about public sector efficiency. I understand that public sector jobs in Singapore are filled by a kind of short contracted tenure, and generally people are let go after its expiry - 4 years or so. This removes the opportunity for bureaucratic empire-building and featherbedding. The excuse that valuable knowledge is lost each time someone new is hired instead of an incumbent being held, obviously does not matter. Pay is good and the jobs popular - but employees have to have their eye on their employment prospects when they are back out into the private sector.
it is possible for very small states with economies rebalanced heavily towards global services (finance etc) to achieve very low CO2 emissions.
And the increase in the price of housing is due to libbewwal-lefty urban planning policies!!!! In most countries these policies are explicitly central planning policies. In the USA it is more complex, but the fact remains that the political freedom to develop housing on legally bought rural land just about anywhere, without central planners forbidding you, is what keeps housing systemically affordable.
Lies go several times around the world while the truth is still getting its boots on. "Capital is not back: A comment on Thomas Piketty’s ‘Capital in the 21st Century’ Odran Bonnet, Pierre-Henri Bono, Guillaume Camille Chapelle, Étienne Wasmer 30 June 2014 ABSTRACT "Thomas Piketty’s claim that the ratio of capital to national income is approaching 19th-century levels has fuelled the debate over inequality. This column argues that Piketty’s claim rests on the recent increase in the price of housing. Other forms of capital are, relative to income, at much lower levels than they were a century ago." http://www.voxeu.org/article/housing-capital-and-piketty-s-analysis
Exactly! Even "white flight" has always been socio-economic flight. People of colour flee locales with crime and failing schools as soon as they are able to, too. In the UK there are white-trash neighbourhoods from which upwardly mobile hard-working Indians flee as soon as they are able. Glaeser and Vigdor's "The End of the Segregated Century" is well worth reading. Guess why there are no major racial tensions in modern automobile-dependent suburbs in the late-growing sunbelt cities, even when there are substantial minority populations as there now are in many such locations? Those minority populations are those who have self-selected to move away from the problem locations, which are now overwhelmingly correlated with legacy urban cores, breakdown in marriage rates and increases in fatherlessness, and libbewwal-Democrat local administration. A similar situation exists in the UK's white-trash neighbourhoods, which are lefty-Labour strongholds.
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