Monday, August 31, 2015

Trump's Protectionist Fallacies Have Been Refuted By Free Market Economists for Hundreds of Years

n-ADAM-SMITH-largeIt's easy to understand the visceral attraction to Donald Trump's campaign. My own libertarian heart beats a little stiff when he waves the one finger salute at establishment institutions that crush our freedom, including the Republican Party leadership, the mainstream media and the useless D.C. politicians themselves.

It's not what Donald Trump is against that bothers me. It's what he's for. So much attention has been paid to his immigration stance from a race perspective that no one seems to care how anti-free market his platform is. Trump is running on economic fallacies that have been consistently refuted by free market economists for hundreds of years.

When Adam Smith wrote Wealth of Nations, it wasn't to refute the "godless socialists" 21st-century Republican voters believe are taking over the world. It was to refute the kinds of protectionist ideas championed by conservatives like Edmund Burke and Alexander Hamilton in Smith's day, Abraham Lincoln eighty years later, and Trump today.

Read the rest at The Huffington Post...

Wednesday, August 5, 2015

Job growth in WNY has speed, but does it really have credibility?

Pair_of_2009_SolarCity_Dodge_SprintersA July 26 article in the Buffalo News rejoiced, “Job growth in WNY gains speed, credibility.” There is no doubt about the speed. The credibility may be another story.

Writer David Robinson gave due credit to “high-profile projects, from the Medical Campus to Solar City’s 1,500-employee solar panel factory, that are giving a jolt to the local job market, first because of all the construction associated with those projects, and eventually with the hiring that will take place as those businesses ramp up.”

What he didn’t mention was why those two sectors were enjoying such spectacular growth: tax breaks and other incentives provided by local, state and federal governments.

It has become fashionable to call tax breaks “subsidies,” based on the perverse idea the government not only has a legitimate claim to all wealth you’ve created in the past, but any you may create in the future. Tax breaks aren’t subsidies, but they are part of a larger economic system that has never worked.

Step One is to tax and regulate everyone into a state of complete economic paralysis. Buffalo’s local governments perfected that fifty years ago. They never got around to Step Two until now.

Step Two is to grant limited relief to those businesses who either represent something politicians like or who promise to deliver something politicians need. Solar City delivers both. They represent the green energy movement, the cause célèbre of politicians everywhere. They have also promised to create a significant number of jobs, which helps politicians get reelected.

Monday, July 27, 2015

A practical solution: Run police departments like fire departments

n-COP-GUN-large570Do you lie awake at night in constant fear a fire will break out and nothing will be done to put it out?

For the 99% of the population not suffering from pyrophobia or a similar neurosis, the answer to that question is "no," even though firefighters aren't patrolling the streets in their big red trucks. They still manage to arrive at the scene of a fire within minutes of an emergency call.

Why can't police departments be run the same way?

If they were, Walter Scott, Freddie Gray, and Sandra Bland would be alive today. All three encountered police doing what would be considered outlandish for any other institution charged with public safety: roaming the streets, looking for trouble.

No one had called 911 asking for protection from Scott, Gray or Bland. No judges had issued warrants for their arrests. All three were, at least at the time of their arrests, just walking or driving down the street, minding their own business. They were detained in what are generally considered "routine" but are in reality wholly unnecessary encounters with police.

There has been a lot of digital ink and warm air expended on whether these victims of tragedy were treated differently because of their race. There are compelling arguments on both sides of that question, but no practical solutions offered by anyone. At the end of these discussions there is invariably some vague reference to "more training" or bland platitudes. Everyone knows nothing will change.

I'm going to suggest a solution that will sound radical, even in a country that styles itself "the land of free." Let's get cops off the streets, unless responding to a 911 call or serving a warrant issued by a judge. Everyone would be freer and safer, including the police officers themselves.

Read the rest at The Huffington Post...

Wednesday, July 22, 2015

Sandra Bland's Arrest Wasn't Racism; It Was Something Even Worse

n-POLICE-CAR-large570It's easy to assume racism when watching the video footage of Sandra Bland's arrest. Admittedly, the first question that entered this writer's mind when watching it was, "Would a white woman have been treated this way during a routine traffic stop?"

I believe the answer is "yes," if the white woman committed the cardinal sin Sandra Bland committed. It wasn't her being black that started the tragic chain of events. It was refusing to follow a police officer's orders.

At some point between ratification of the Fourth Amendment and the death of Sandra Bland, the entire principle underpinning that constitutional protection has been lost. The Fourth Amendment assumes armed agents of the state can't be trusted to issue their own orders. That's why we have warrants in the first place. They are permitted only to enforce the orders of an impartial judge, who authorizes them to apprehend suspects upon the judge's determination of probable cause.

That's not to say many or most officers aren't well-intentioned or trustworthy. But their job is to use force. That role must be separated from the issuance of orders.

Read the rest at the Huffington Post...


Monday, July 6, 2015

Greek "no" vote on austerity isn't remotely heroic or "libertarian"

greece-referendum-_3365507bThe 21st century global banking system based on fiat currencies and redistribution of wealth through inflation is immoral and destructive. That doesn’t mean stiffing your creditors is at all justified, heroic or remotely “libertarian,” as many on my newsfeeds are suggesting.

The Greeks who decided to take two month vacations, vote themselves useless government jobs and then retire at 50, all on someone else’s dime, aren’t the victims today. They are as much the perpetrators as the so-called “banksters.”

The real victims are those hardworking Greeks who have hitherto paid for all of this and the honest creditors who lent them money, although the latter have some culpability for bad judgment.

The Greek “no” vote on accepting "austerity" measures in return for additional loans from the European Central Bank (ECB) was more like a childish tantrum than a blow for freedom.

Saturday, July 4, 2015

Dear Queen Elizabeth: Can we come back?

Dear Queen ElizabethDear Queen Elizabeth,
It’s been 239 years and we’re finally ready to admit we made a mistake. Just as your predecessor warned us, taxes are much higher, the government more intrusive and oppressive, and liberty more non-existent than it ever was under the British monarchy.

We’re willing to bury the hatchet and rejoin the British Empire with that sweet tax deal you had for us in 1775. Don’t worry about representation. We tried it. Taxes skyrocketed.

Everything else we complained about got worse, too. Representative government issues more general warrants than the king ever did. In most cases, it doesn’t even bother with warrants. It just vacuums up our electronic data and peruses it at its pleasure.

Monday, June 22, 2015

Buffalo doesn't need another "master plan"

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BUFFALO June 22, 2015 - A June 19 Buffalo News Opinion piece entitled, “Welcome new master plan aims at making downtown core more people-friendly” said this:

“Yes, continued development could happen by accident, but it’s dangerous to leave growth up to chance and likely to produce less desirable results.”

Wrong. Leaving growth up to the market is Buffalo’s only hope for escaping the economic blight that has plagued it for over a half century.

Let’s not forget what killed Buffalo in the first place: central planning by the government, which destroyed untold billions in waterfront property with wrongheaded expressways and disastrous public housing projects, built the Subway to Nowhere and generally taxed and regulated the economy to death.

The alternative to central planning isn’t “leaving growth up to chance.” It’s leaving growth up to the uncoerced choices of producers and consumers. Instead of government officials seizing money from taxpayers and deciding how it will be spent, consumers spend their own money as they see fit.

When consumers have choices, entrepreneurs face the prospect of losses if they produce products people won’t buy voluntarily. When the government plans and subsidizes, taxpayers don’t have a choice. They pay whether they want to or not. This steals capital from projects that can make a profit and employ people and leaves us with projects that need subsidies to survive.