January 23rd, 2007


(no subject)

Well, here it is 4:30, I've been up for over an hour, and I'm still having trouble loading that database backup to the server it belongs on. So, what I'm going to do is get something set up for my comrade, then go in to the office (later this AM) and get the real server's database loaded.

It's at moments like this that I can't for the life of me figure out why I didn't stand up to my mother and join the Navy when I had the chance.
Milton Friedman

(no subject)

Boeing Bounces Back


Seriously, though, Don Surber refers to a great column by George Will in his blog entry. Take a minute and read it, particularly this:

But now Airbus has problems inherent in its role as Europe's iconic public-private collaboration.

Such collaboration, called "industrial policy," involves the irrationalities of economic nationalism, as each of the nine countries involved in subsidizing the A380 fights for "its" jobs.

Keep in mind that this "iconic public-private collaboration" is the sort of Keynesian nonsense that John Kenneth Galbraith was so high on in his The New Industrial State. The planned economy hasn't worked anywhere for longer than a few years, and leads to the sort of problems that Airbus is currently experiencing--problems that too many Americans think ought to be introduced into the US economy (can you say "Hillarycare"?). Or, as Don says, "socialism cannot top capitalism in the long run". And certainly fascism, which is what's evolving in Western Europe (note the "economic nationalism") can't top capitalism at all.

To paraphrase Churchill, capitalism isn't perfect, but it beats any of the alternatives. Or, as Milton Friedman said, individual freedom -- that which liberals (in the truest sense of the word) stand for, or at least proclaim that they stand for -- starts with economic freedom. Socialism doesn't lead to economic freedom, nor does fascism, nor does "industrial policy".

End of lecture. There'll be a quiz at the end of the quarter.
Milton Friedman

(no subject)

It figures that just as I sent off that last blog entry, I found this at Newsbusters.org:

Washington Post Misses the Point on Health Care

This line is particularly telling:

Perhaps Lee should read Tim Carney's book, The Big Ripoff, where Carney chronicles why big business loves big government. One reason is that big business often gets loads of subsidies from big government, and that would surely be the case with these new health insurance proposals

A lot of people grow up believing that the US is a capitalist nation. While this is generally true, you also have elements of fascism (protectionist trade), socialism (Social Security, Medicare), European-style welfare states (most of the New Deal and Great Society), mercantilism (the constant harangue about the trade deficit), and a couple of other economic systems at play here. Be careful when you hear someone in a large government-subsidized industry (that would be most of them any more) extolling the virtues of capitalism; they'd complain the loudest if they actually had to work in a real capitalist system.

Class dismissed.