Category: Economics, Finance, and Political Economy

  • CAPLAN’S DISHONEST REDISTRIBUTIVE ARGUMENT IN FAVOR OF OPEN IMMIGRATION Caplan’s

    CAPLAN’S DISHONEST REDISTRIBUTIVE ARGUMENT IN FAVOR OF OPEN IMMIGRATION

    Caplan’s argument does not account for costs. He’s wrong. Always has been. This argument is just an extension of Cosmopolitan justification for identitarian incorporation of subgroups into host countries. It is simple literary and economic obscurantism that seeks to ignore the costs of heterogeneity on a population. In an homogenous population under universal absolute nuclear families, we still see high costs of relocation of individuals to changes in capital centers that doe NOT offset the increases in productivity – which are merely artifacts of the change in prices as demand increases in geographies.

    In homogenous populations containing ANF families, it takes time for the introduction of heterogeneous forces to play out, but temporary increases do simply to increases in demand for consumption due to relocation are not increases in production, and those costs have to measured against the long term decline of the trust as well as socialistic costs of incorporating lower trust groups into the society.

    Trust and homogeneity of high trust, is the most expensive capital to create. And heterogeneity consumes that capital asset – rapidly.

    The fallacy of the economic benefit of immigration is that there is no cost to norms. If high trust ethics were fully codified in law, then we could enforce high trust ethics at low cost. However, the immigration of low trust peoples has produced precisely the erosion of our constitution and our liberties that the protestants predicted would happen.

    The majority does not desire liberty. The minority desires liberty. And the aristocratic (noble) minority imposed high trust ethics upon the northern european peoples by force. It was that forcible imposition that caused the high trust society, plus the restoration of science, that resulted in european miracle – the only people to possess liberty.

    I don’t want to say Caplan is a LIAR, so much as engaged in intentional deception, but he’s no better than the progressives who abuse statistics to tout changes family incomes instead of individual incomes.

    Its sort of like his arguments as to why he’s not an austrian. They’re just word games. (There is no difference between the argument for prices and incentives. Obverse and Reverse of the same concept.)

    My purpose is to promote my genes, even at the expense of others genes. If we can cooperate while I do that then that’s fine. But if we cannot cooperate while I do that, then there is no point in cooperation.

    We all demonstrate our time preference. That’s mine. That’s everyone other than W.E.I.R.D’s – who are demonstrably suicidal.

    You don’t get to determine what my preference is. Thats totalitarian. If you dictate my preferences that is by definition not a state of liberty. I agree to cooperate if it’s beneficial to my ends, but not if it is not. That is all that can be said.

    I don’t subscribe to the leftist proposal of Rawls, nor the left libertarian position of open borders. I subscribe to the aristocratic proposal that if cooperation is beneficial to me and mine then we should cooperate, but if it’s not then no. I don’t know what’s libertarian about favoring dysgenics.

    I mean, why should I squander my earnings through redistribution? Why should I squander my culture’s high trust norms through redistribution? And why should I squander my genes through dysgenic redistribution?

    I mean, if you’re a libertarian and you claim to have rights to your earnings, then why do you only have rights to your earnings and not the right to your other forms of capital?

    I can spend my inheritance too. That isn’t an increase in production, that’s just rapid destruction of accumulated capital.


    Source date (UTC): 2014-04-24 13:59:00 UTC

  • DIVIDENDS AND TRANSPARENCY? Don’t dividends solve the problem of creating transp

    DIVIDENDS AND TRANSPARENCY?

    Don’t dividends solve the problem of creating transparent data better than taxation does, because the incentives are aligned? Taxes distort information gathering, distort incentives, and distort the economy. Don’t dividends do the opposite? I’d rather have dividends and no corporate taxation on dividends, and taxation only upon personal income, if I were interested in providing informational transparency without the tragic incentives of corporate taxation.

    —“Taxation is not only a way of requiring all citizens to contribute to the financing of public expenditures and projects and to distribute the tax burden as fairly as possible; it is also useful for establishing classifications and promoting knowledge as well as democratic transparency.”—

    Piketty, Thomas (2014-03-10). Capital in the Twenty-First Century (Kindle Locations 297-299). Harvard University Press. Kindle Edition.


    Source date (UTC): 2014-04-24 13:08:00 UTC

  • TRUST IS THE MOST SCARCE AND MOST EXPENSIVE FORM OF CAPITAL Rothbardian Libertar

    TRUST IS THE MOST SCARCE AND MOST EXPENSIVE FORM OF CAPITAL

    Rothbardian Libertarianism is an attack on the high trust society. It an obscurant, rationally justified, excuse for advocating, low trust, parasitic ethics of the ghetto.

    http://en.wikipedia.org/wiki/Social_capital


    Source date (UTC): 2014-04-24 10:45:00 UTC

  • SARGEANT ON COMMON SENSE RULES OF ECONOMICS (via by Alex Tabarrok) 1. Many thing

    http://marginalrevolution.com/marginalrevolution/2014/04/tom-sargent-summarizes-economics.html?utm_source=feedburner&utm_medium=feed&utm_campaign=Feed%3A+marginalrevolution%2Ffeed+%28Marginal+Revolution%29#sthash.g6CGFLA8.dpufTOM SARGEANT ON COMMON SENSE RULES OF ECONOMICS

    (via by Alex Tabarrok)

    1. Many things that are desirable are not feasible.

    2. Individuals and communities face trade-offs.

    3. Other people have more information about their abilities, their efforts, and their preferences than you do.

    4. Everyone responds to incentives, including people you want to help. That is why social safety nets don’t always end up working as intended.

    5. There are tradeoffs between equality and efficiency.

    6. In an equilibrium of a game or an economy, people are satisfied with their choices. That is why it is difficult for well meaning outsiders to change things for better or worse.

    7. In the future, you too will respond to incentives. That is why there are some promises that you’d like to make but can’t. No one will believe those promises because they know that later it will not be in your interest to deliver. The lesson here is this: before you make a promise, think about whether you will want to keep it if and when your circumstances change. This is how you earn a reputation.

    8. Governments and voters respond to incentives too. That is why governments sometimes default on loans and other promises that they have made.

    9. It is feasible for one generation to shift costs to subsequent ones. That is what national government debts and the U.S. social security system do (but not the social security system of Singapore).

    10. When a government spends, its citizens eventually pay, either today or tomorrow, either through explicit taxes or implicit ones like inflation.

    11. Most people want other people to pay for public goods and government transfers (especially transfers to themselves).

    12. Because market prices aggregate traders’ information, it is difficult to forecast stock prices and interest rates and exchange rates.


    Source date (UTC): 2014-04-20 04:49:00 UTC

  • SANCTIONS I am not getting good info here. But do I correctly interpret that the

    SANCTIONS

    I am not getting good info here. But do I correctly interpret that the threat of further sanctions on Russia are working? I mean, the States is planning to cut Russia out of the international finance system. It will be nearly impossible for Russian firms to do business without the very high cost of circumventing that system (doing everything in cash with people who will accept their currency). Russian growth has dropped to zero in just two months.

    I mean, if I’m Putin, and I think I can do it quickly, I take the hit and do it anyway, and apologize afterward. But if the Ukrainian’s run a civil war and it’s protracted, then it’s pretty unlikely that the Russian government can tolerate the economic isolation, without severely affecting the citizens.


    Source date (UTC): 2014-04-18 07:18:00 UTC

  • ECONOMIC NECESSITY OF NERDY WHITE BOYS (Finally some legitimacy. lol)

    http://www.vdare.com/posts/nyt-white-nerds-cant-live-with-em-cant-get-rich-without-emTHE ECONOMIC NECESSITY OF NERDY WHITE BOYS

    (Finally some legitimacy. lol)


    Source date (UTC): 2014-04-08 12:07:00 UTC

  • JOBS REPORTS, FRAUDULENT GDP, FRAUDULENT FORECASTS

    http://www.paulcraigroberts.org/2014/04/05/another-fraudulent-jobs-report-paul-craig-roberts/FRAUDULENT JOBS REPORTS, FRAUDULENT GDP, FRAUDULENT FORECASTS.


    Source date (UTC): 2014-04-08 12:03:00 UTC

  • THE DIFFERENCE BETWEEN PRODUCTIVE COOPERATION AND NON PRODUCTIVE INTERACTION (ed

    THE DIFFERENCE BETWEEN PRODUCTIVE COOPERATION AND NON PRODUCTIVE INTERACTION

    (edited and reposted)

    PROPERTARIAN ANALYSIS

    Let me ‘get all Propertarian’ here. Define properties, axis, actions, Property, and costs.

    BIOLOGICAL TRUTH TABLE:

    Ternary : Neutral(Null), Benefit (True), Harm False)

    RESULTS (In Descending Order)

    1) Mutualism: both organisms benefit. TT

    2) Commensalism: one benefits without affecting the other. TN

    3) Parasitism: one benefits while the other is harmed. TF

    4) Amensalism: one is unaffected and the other is harmed NF

    5) (?): both are harmed : FF

    OPPORTUNITY COSTS vs FIXED PRODUCTION/CONSUMPTION

    The biological model above does not account for opportunity costs from production, where production in a division of labor. We must correct the difference between organisms that engage in production and those that do not.

    An opportunity cost is the DIFFERENCE between one choice and another. In other words, only mutually productive exchanges are free of loss. ie: there is only one T position in the truth table. Unlike non-producing organisms. Biology is a poor analogy, because production is nearly unique to man.

    Lets see if I can simplify this even more without losing the central idea.

    EXAMPLE

    A and B engage in a mutually productive exchange.

    Neither A nor B at this moment have a more productive exchange to engage in.

    This is the maximum yield any action can produce, at zero opportunity cost.

    Every action OTHER than this one decreases the benefit and increases the opportunity cost from zero.

    CORRECTED TRUTH TABLE

    P= Production , ~P = Lost opportunity for production, H=harm

    1) Mutualism: both organisms benefit. TT => P1 + P2 = TRUE

    2) Commensalism: one benefits without affecting the other. TN=> P1 + ~P2 = FALSE

    3) Parasitism: one benefits while the other is harmed. TF=> P1 + ~P2 – H2 = FALSE

    4) Amensalism: one is unaffected and the other is harmed NF=>~P1 + ~P2 – H2 = FALSE

    5) (?): both are harmed : FF => ~P1 + H1 + ~P2 + H1 = FALSE

    EXCEPTION: MODIFIED BY KIN SELECTION

    Genetic Distance: |<-Self, Offspring, Kin, Associates, Neutrals, Competitors, Enemies->|

    Humans demonstrate kin selection; treatment of self, near genes and farther genes as priorities with marginal indifference applied to offspring.

    INSTINCTS

    a) desire for cooperation (to reduce costs by increasing productivity)

    b) prohibition on free riding (cheating as defense against parasitism)

    CONCLUSION

    Humans engage in cooperation, eschew free riding, and in any act of cooperation, opportunity costs guarantee that all non-productive exchanges (aside from kin selection) are net losses.

    This is different from biological organisms who do not have the ability to cooperate on production by choosing between opportunity costs.

    Curt Doolittle

    The Propertarian Institute

    Kiev


    Source date (UTC): 2014-04-04 10:15:00 UTC

  • The Future Of Economics And Cooperative Science

    (interesting) [I] doubt that economics will ever evolve to be predictive, since we would adapt to any prediction. I do not doubt that economics will evolve to be almost universally descriptive. or at least sufficiently so that further inquiry won’t provide additional knowledge about mankind and human behavior. I **DO** believe that we can construct a science of COOPERATION instead of a science of ‘economics’. I think this categorization of cooperation as economic has taken root, and it may be impossible to fix at this point. However, the study of economic activity is the use of easily recorded economic data to capture the demonstrated behavior and preferences of human beings better than any other form of test can possibly do. But the science we are constructing through economics, cognitive science, and experimental psychology, is the the science of COOPERATION. That science, for all intents and purposes has yielded, and will yield, only one fundamental set of principles. And that single fundamental set of principles will undoubtably be categorized as what we USED to call, “POLITICAL ECONOMY”. [B]ecause all human cooperation requires institutions that facilitate organization of invention, production, distribution and consumption by voluntary means, while at the same time prohibiting free riding in all it’s forms: criminal, unethical, immoral, conspiratorial and conquest. As such, the science of cooperation, including:

    • The Future Of Economics And Cooperative Science

      (interesting) [I] doubt that economics will ever evolve to be predictive, since we would adapt to any prediction. I do not doubt that economics will evolve to be almost universally descriptive. or at least sufficiently so that further inquiry won’t provide additional knowledge about mankind and human behavior. I **DO** believe that we can construct a science of COOPERATION instead of a science of ‘economics’. I think this categorization of cooperation as economic has taken root, and it may be impossible to fix at this point. However, the study of economic activity is the use of easily recorded economic data to capture the demonstrated behavior and preferences of human beings better than any other form of test can possibly do. But the science we are constructing through economics, cognitive science, and experimental psychology, is the the science of COOPERATION. That science, for all intents and purposes has yielded, and will yield, only one fundamental set of principles. And that single fundamental set of principles will undoubtably be categorized as what we USED to call, “POLITICAL ECONOMY”. [B]ecause all human cooperation requires institutions that facilitate organization of invention, production, distribution and consumption by voluntary means, while at the same time prohibiting free riding in all it’s forms: criminal, unethical, immoral, conspiratorial and conquest. As such, the science of cooperation, including: