“It’s Discrimination”
Guest post by Ben O’Neill, originally published at www.mises.org on 9 July 2009 (with footnotes)
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If there were a prize for the most boneheaded thing that one hears very frequently, it would have to be the astonishment and revulsion that is commonly expressed at the existence of discrimination. You are likely to have heard this horrified expression before: “It’s discrimination!” Heavens above! Alert the authorities!
Quite often, this tiny statement, without any elaboration or explanation, is enough to provoke looks of shock or revulsion from others, or at the very least, solemn looks of concurrence and disapproval. In many cases, it will provoke fervent denials and apologetic defensive maneuvers from those accused of this heinous act, even if the accuser has made no attempt to deliver his case. The mere charge is enough.
How zoning rules would work in a free society
Guest post by Ben O’Neill, originally published at www.mises.org on 17 June 2009. Be warned that this article is a bit longer than most ALS posts.
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It is well known that the libertarian political philosophy is antagonistic to coercively imposed rules that limit people’s freedom to use their private property as they see fit. Indeed, the very essence of libertarianism is the nonaggression principle that condemns the initiation of force against person or property. As a result, libertarians have been critical of zoning laws, which restrict the ability of property owners to develop their property or use it for their desired purposes.[1]
Because of this antipathy to zoning laws, some critics of libertarianism fear that a libertarian society would leave people incapable of exercising any control over their neighborhood and preserving the character of their surroundings. They worry that the decisions of surrounding property owners could change the character of their neighborhood to the detriment of their property values or preferred lifestyle. For example, some may worry that their local park will be developed into a housing complex leaving them with nowhere to take their children to play. Others worry that their neighbors may build huge structures that overshadow their now sunny backyards. Whatever their specific concerns, many people share the view that zoning laws are required to prevent their neighborhood from being despoiled by outrageous building developments or uses.
Effectiveness and affordability of an ETS
Guest post from Juel Briggs
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Nobuo Tanaka, Executive Director of the International Energy Agency, has recently said that by 2030, to meet international emission targets, the world will need to have a carbon price of $US180 ($A225) per tonne. (Source: Bloomberg News.)
Ultimately, such costs will be borne by the tax-payer. At Australia’s current emissions (580 million tonnes p.a.) and working population (10.6 million), a carbon price of $A225 would correspond to a cost per working person of more than $A12,000 per year, or around 25% of the average after-tax earnings. Even if we halve our per-capita emissions by 2030, the cost would still be at least $6,000 each year per working person. Additionally, given the aging of our population it could be expected that by 2030 a greater burden will fall on those working.
The Fed Might Have Painted Itself into a Corner
Guest post by Frank Shostak, originally published at www.mises.org on 12/06/09.
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A growing concern for Fed [United States Federal Reserve] policy makers is a weakening in the US dollar against major currencies. The price of the euro in US-dollar terms climbed from a low of $1.27 in November last year to around $1.41 in May and $1.43 in early June — an increase of 12.6% from November. The major currencies dollar index fell to 78.89 in May from 82.3 in April — a fall of 4.1%. If the declining trend in the US dollar were to consolidate, this could cause foreign holders of US-dollar assets to divest into non-dollar-denominated assets and precious metals. This in turn could spark another financial crisis.For instance, on June 6, 2009, Russia’s President Dmitri Medvedev said that American financial policy had made the dollar an undesirable currency for reserves held by central banks.
Also China — the largest holder of US-dollar reserves — has voiced its misgivings with the Fed’s massive money pumping, which is seen as an important reason behind the recent weakening in the US currency. Note that in March, China’s US-dollar reserves stood at $1,953.7 billion — an increase of 2.2% on the month before. The value of the China’s holdings of US Treasury securities was $767.9 billion in March against $744.2 in February and $490.6 billion in March last year.
Can President Obama’s Policies Heal the US Economy?
Guest post from Frank Shostak.
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In his interview with the New York Times on May 3, 2009, President Obama said,
I know how to ask good questions of my doctor. But ultimately, he’s the guy with the medical degree. So, if he tells me, you know what, you’ve got such-and-such and you need to take such-and-such, I don’t go around arguing with him or go online to see if I can find a better opinion than his.
We suspect that President Obama has adopted the same approach with respect to managing the US economy. In fact, in the same interview he said that he is very much influenced by the ideas of Joseph Stiglitz, Larry Summers, and Paul Volcker.
During the interview he also expressed his admiration for Robert Reich and Paul Krugman. Although he didn’t say it, we suggest that the US president is also greatly influenced by the ideas of Federal Reserve Chairman Ben Bernanke.
All these famous personalities derive their way of thinking from the writings of John Maynard Keynes and endorse heavy government involvement in the economy.
Catallaxy Files- Why did this native born Hawaiian once describe himself as a Kenyan? May 18, 2012As the accompanying article on Drudge says, Obama was indeed born in Hawaii but asks why there has been so little vetting of the president. As they write: It is evidence–not of the President’s foreign origin, but that Barack Obama’s public persona has perhaps been presented differently at different times. The US is not really [...]Steve Kates
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- Words from the wise May 17, 2012Graham Richardson has a must-read op-ed in the Australian today. He reveals the depths of hatred towards the PM. While it is clear Julia Gillard just doesn’t understand how bad things really are, she is at the very core of the disenchantment. These two MPs, who both voted for her in Kevin Rudd’s February challenge, [...]Sinclair Davidson
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- Generalising about racism May 14, 2012The Sydney Morning Herald is running a poll asking if Australians are Racist. So far 74% of respondents say yes and 26% say no. Some of the commentators include Larissa Berendt who argues that Australia is a racist country because Aboriginal people have a shorter life expectancy. However, there are many reasons why their life expectancy is shorter than the a […]Sara Hudson
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Oz Political Quiz
