ECONOMICS ROUNDUP

The founding ideas were right: "When discussing the incentives granted by government to people thinking about settling in America, Benjamin Franklin cited only those "derived from good laws and liberty." Recent arrivals would have to roll up their sleeves and put their backs into it because, as Franklin noted, streets were not "paved with half-peck loaves," houses were not "tiled with pancakes," and edible fowl did not "fly about ready-roasted, crying `Come eat me!'" But if a person were "sober, industrious, and frugal," he could "establish himself in business" and "enjoy securely the profits of his industry." Pursuing happiness could be hard and possibly very rewarding work".

The Media's Top 10 Economic Myths of 2005: "The Media Research Center's Free Market Project spent 2005 tracking news reporting on business and economic issues and compiled a list of the most common and most egregious errors. They ran the gamut from omissions to exaggerations and plain misinformation: America should follow French fashion in business; We must raise taxes to cope with ballooning deficits; Global warming is causing stronger hurricanes; America is cheap with its foreign aid; Hurricane Katrina will send the economy into a tailspin; The housing bubble is about to burst; Americans are dying of fat; Consumers are choosing between food and fuel; Big, profitable companies are up to no good; The U.S. economy is hopeless

Leftists never learn: "An attempt by Venezuela's leftwing president, Hugo Ch~vez, to double the price that coffee producers pay farmers for a sack of beans has led to empty shelves in supermarkets throughout the country and fears of shortages of other basic foodstuffs. President Ch~vez, who maintains price controls on basic foodstuffs, raised the price of coffee beans by 100% last month after weeks of protests by coffee farmers. But most of the country's coffee producers, who buy, roast and grind the beans, refused to sell on the coffee yesterday, claiming their margins had been cut, and began hoarding thousands of sacks of unprocessed beans... Some supermarkets in the capital, Caracas, said they had also run out of sugar, chicken, powdered milk and maize. Store managers said they were not being supplied with new stock from wholesalers and producers, who were complaining that their profit margins were too low. Frustrated customers were told that coffee, milk and sugar suppliers were sitting on their goods until the government raised retail prices. Some owners of street cafes in Caracas said they would run out of coffee within days if the government and coffee producers did not reach an agreement. Venezuelans love their morning cup of coffee and there was growing unease among office workers yesterday that their daily shot of espresso or cappuccino might soon be unavailable. The increase in the price of raw coffee beans was initially applauded by impoverished farmers. But the government did not raise the price at which retailers sell processed coffee to the shops".

Can trade ever harm a country? "A recent article from the Guardian joins the growing outcry against free trade. Its central message is that countries adopting 'neo-liberal' market reforms, recommended by academic economists, have done worse than those countries that ignored the supposed experts and spurned free trade. Every time I reread the article -- with the subtitle 'A look at Vietnam and Mexico exposes the myth of market liberalization' -- I discover more and more fallacies. To economize on the reader's precious time, I finally decided to quit digging for more errors and jot down the ones I'd already found..... this article hasn't focused on the positive case for free trade, as it has been made in countless other places. What I have done above is merely illustrate the invalid (and sometimes downright silly) arguments that, unfortunately, even trained economists use to justify bigger government."

Left/Right economics summarized: "The subject of this article is Kuttner's column about the debate, rather than the debate itself -- Kuttner the fight judge, not Kuttner the boxer. I was particularly struck by Kuttner's statement above. Evidently, the concept of genuine humility is so foreign to Kuttner that he regards an expression of humility as a debating tactic. In a sense, that is why Kuttner belongs on the left. Contemporary liberalism without hubris is Hamlet without the Prince.... Genuine humility is a feature of libertarian conservatism, which may be the fundamental reason that it differs from neoconservatism. If you think you have all of the answers, then it is difficult to resist passing No Child Left Behind Laws and other expressions of government hubris. Libertarian conservatives believe that we do not know enough to justify imposing our will on others through government. Supporters of activist government believe they know more than we do. I fear that they know less."

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ELSEWHERE

Want a laugh? Some Leftist git by the name of Prof. Allan Patience -- an adherent of the Australian Fabian Society -- is trying to tell us that modern-day conservatives are not really conservative because a true conservative is a sort of socialist. More about him and his mixed-up ideas on Australian Politics. Also see Australian Politics for the story of a Greenie local council who awarded a contract to Halliburton!

The right of conscientious objection is increasingly being denied to Christians in secularist Europe. You can be in big legal trouble unless you have secularist (or Muslim) beliefs.

The Canadian decline: "Over the past 20 years, Canada has become a place where merely speaking truth to power is a considered a revolutionary act. Over the past 20 years, our people have come to dread liberty because it demands responsibility. When you go into the voting both on January 23rd it may well be the last, best hope to take our country back. All you have to do is remember that a nation of sheep will always produce governments of wolves."

There is a list here of just some of the far-Left anti-Bush ballyhoo surrounding MLK day. It is one of the wonders of 20th century politics that most people seem not to know that it was REPUBLICANS who got the Civil Rights Act through Congress: "Republicans favored the bill 138 to 34; Democrats supported it 152-96. Republicans supported it in higher proportions than Democrats. Even though those Democrats were Southern segregationists, without Republicans the bill would have failed. Republicans were the other much-needed leg of the Civil Rights Act of 1964".

Today it's Leftists who stand in the schoolhouse door: "Milwaukee's innovative school choice program has become a beacon of hope for reformers everywhere. But the educational establishment has never accepted its success and is now striking back. A cap on the number of students that can attend the city's private choice schools has been reached, and starting Feb. 1, education officials will implement a rationing plan to allocate the program's available seats...."

For more postings, see EDUCATION WATCH, GREENIE WATCH, POLITICAL CORRECTNESS WATCH, GUN WATCH, SOCIALIZED MEDICINE. Mirror sites here, here, here, here and here. On Social Security see Dick McDonald and for purely Australian news see Australian Politics (mirrored here).

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Practically all policies advocated by the Left create poverty. Leftists get the government to waste vast slabs of the country's labour-force on bureaucracy and paperwork and so load the burden of providing most useful goods and services onto fewer and fewer people. So fewer useful goods and services are produced to go around. That is no accident. The Left love the poor. The Left need the poor so that they can feel good by patronizing and "helping" them. So they do their best to create as many poor people as possible.

The Big Lie of the late 20th century was that Nazism was Rightist. It was in fact typical of the Leftism of its day. It was only to the Right of Stalin's Communism. The very word "Nazi" is a German abbreviation for "National Socialist" (Nationalsozialistisch)

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