Theme: Institution

  • Salmon : Groupon isn’t building a very good business

    http://blogs.reuters.com/felix-salmon/2011/06/11/the-big-groupon-question/Felix Salmon : Groupon isn’t building a very good business.


    Source date (UTC): 2011-06-11 11:53:00 UTC

  • “Customary Law”: See this paper, and this section “Customary Law for the Commerc

    “Customary Law”: See this paper, and this section “Customary Law for the Commercial Revolution”

    See Hayek’s Law Legislation and Liberty if you want to understand the history and importance of common law.

    You can skip the libertarian content if you want, and just read about the history of legal development.


    Source date (UTC): 2011-05-17 00:12:00 UTC

  • What Would You Learn From A Lifetime Of Studying Politics And Economics?

    Fundamentally, assuming you were intellectually honest, if you were to spend the next twenty years of your life studying political science, with the goal of long term stability and prosperity, then you would come to these conclusions:

    • The Problem

        a) Time:
        b) Space (distribution):
        d) Acting:
        c) Choosing an Action:
        d) Memory:
        e) Limited Knowledge:
        f) Planning:
        g) Opportunity Costs:
        h) Learning (imitation):
        i) Choosing What To Learn (Alphas)
      • Mankind:
        • The Genders:
        • Society
          • A Society is it’s Market
          • Productivity
        • Institutions:
          • Cultural-Forgone Opportunities:
          • Time Preference
          • Suppression Of Corruption
          • A System Of Property Definitions
          • Metaphysical Objectives
          • Administrative and Procedural:
          • Cooperative Institutions
          • Meritocratic Rotation of Elites / Denial Of Non Meritocratic Access:
          • Recognizing New Rules
          • Coordinating Of Group Investments:
          • Means Of Resolving Differences:
          • Limits On Power
        • Government:
        • hereditary monarch
        • aristocracy
        • democratically elected common house
          • Monarchy:
        • Rule Of Law:
          • Redistribution:

            7) Failure: Governments and empires fail for these reasons:

            • Debasement:
            • Overextension:
            • Birth Rates:
            • Money:
            • Trade Routes:
            • Calculative Institutions:
            • Irrationalism:
            • Cultural Habits/Opportunity Costs:
            • Externalities:
            • Disasters:

            8) Three Types Of Coercion

              9) Social and Economic Classes 10) Human Failure:

                11) Failures Of Political Discourse a) the multitude of transfers 12) The Hierarchy Of Argument

                  13) Personal Ethics a) Speak The Truth, and at worst say nothing b) Do Nothing To Others You Would Not Want Done Unto You c) Engage in no exchange wherein the other party will ever regret his purchase. 15) Social Problems In Advanced Society a) The Loneliness and Anonymity Of The Division Of Labor and The Affect On Society b) The Difference Between The Urban And The Rural c) The Status Competition Between Groups who will seek political power to alter their condition. The utility of different governments can be determined by historical analogy, by articulated reason, by empirical study of economic performance, and by demonstrated stability against revolution, adaptability to external shocks, and the temporal duration of the system of rules itself. Under those criteria, only the class-tiered system of government survives scrutiny. In particular, democratic governments are temporary, and the result of extraordinary wealth created by conquest of new territory or trade routes. And totalitarian governments are impoverishing, regardless of circumstances. It is the combination of all forms of government so that the different social classes have institutions wich allow them to achieve their ends without detriment to the institutions of the society that is superior to forms of government that reflect the desires ONLY of certain classes of society. Our western error has been that we feel we must enfranchise everyone into the same structure without accounting for differences in our knowledge, skill, ability and preferences. Unfortunately, the horrors of the world wars caused westerners to question their civilization’s principles, rather than the rate of technological evolution and the rate of population growth, and our inability to EXTEND our system of western government fast enough to accomodate them, and instead we have, quite wrongly, thrown out the entire system rather than improving it by ADDING to our rather empirical system of government. The consequences of marxian collectivism, coinciding with feminism, the debate over slavery, and the immigration of non-western people’s, was far greater than our system could tolerate. And the reason our system could not tolerate it, was because we were still relying too much on moral religious doctrine rather than fully articulated reason: we simply did not understand the reasons our western form of government was superior.

                • “Weber believed that that Marx’s description of alienation had little to do with

                  “Weber believed that that Marx’s description of alienation had little to do with capitalism, but was a consequence of industrialism and bureaucracy.”

                  People don’t hate government per se. They hate bureaucracy whether it’s in the government, in our large businesses, or in our entertainment. Organization is synonymous with Bureaucracy which is synonymous with Oligarchy.

                  Privatize everything.


                  Source date (UTC): 2011-04-14 19:53:00 UTC

                • rights are indeed the basis for prosperity. However, property rights are an inst

                  http://www.capitalismv3.com/?p=2439Property rights are indeed the basis for prosperity. However, property rights are an institution that is created by the application of organized institutional violence. This fact is usually lost of ideological libertarians.


                  Source date (UTC): 2011-03-28 14:25:00 UTC

                • honest appraisal. Now, the fact that Valve owns their own client base and distri

                  http://www.industrygamers.com/news/valve-disappointed-in-ad-agencies-for-marketing-almost-worthless/An honest appraisal. Now, the fact that Valve owns their own client base and distribution system, and that as a game company they have strong creative and storytelling, makes them an uncommon client. But the criticism stands.


                  Source date (UTC): 2011-03-18 10:02:00 UTC

                • Notes From An Agency Tour: #1 A Little Preamble

                  March 15th, 2011

                  Ok, so before I get started here, let me avoid a little criticism right from the start. I’m not a typical agency guy. While I’m the CEO of a fairly large agency, I’ve also been founder, CEO or a principle at companies in a variety of fields from technology to law. And in each field we humans see the world through different lenses. I have a lens too. And fundamentally, I’m a political economist.

                  A political economist is a certain kind of geek. It means I think in terms of society, incentives, habits, beliefs, institutions and organization, as well as money and all that money entails. And it also means that i’m not politically correct, or even very tempered in my observations.

                  That’s not my job. Something is either true or not, and useful or not. Whether people like it or not isn’t something I worry too much about. There are plenty of people who can do that. THere aren’t that many of us that predict trends.

                  Furthermore, on top of being a little controversial, I’m a contrarian. That term has a technical meaning. It means that I look for the point at which fashions and trends ‘fail’, or ‘top out’, and the consequences of those trends and their failures.

                  Lastly, the division of knowledge and labor in the world is also divided into time periods. So some people think in short term, some medium term, and some long term, and people like me look at the very long term, and I try to understand how organizations react to changes in society.

                  So, I see the world through those lenses. And through those lenses I try to find patters that will inform us and our clients about the likely course of events, or the reason some events occurred. In other words, my job is trends.

                  And it turns out, whether by luck or skill, I”m pretty good at trends. That puts me at odds with most marketers. In fact, you would be surprised how many of my postings the board of directors asks me to take down. It’s one of the reasons I don’t write on this industry very often. It’s because I’m largely a critic of it. I’m a critic of it because I understand that marketing is a social science and companies, people’s livelihoods, as well as our national competitiveness are significantly impacted by whether we are good at marketing or not.

                  So, my job is to be right on long term trends.

                  http://www.puretheoryofmarketing.com/

                • Just To Play Fair..

                  I argue that anarchic propertarianism is a brilliant and fruitful research program. But it is, as currently envisioned, another luddite fantasy rather than an institutional solution to modernity that can compete with democratic secular humanism and irrational financial probabilism. Until we unite Austrianism with New Institutional Economics with modern technology we will not have a rational pragmatic alternative that preserves freedom.

                • Topic Warning: No free marketer actually suggests ‘unregulated’ market, or the a

                  http://www.capitalismv3.com/index.php/anti-free-market-straw-men-vs-reality/Charged Topic Warning: No free marketer actually suggests ‘unregulated’ market, or the abscence of law. Instead, this is what they say:


                  Source date (UTC): 2011-03-05 09:23:00 UTC

                • Teacher’s Unions: Unaccountable And Arrogant Entitlement Unable To Withstand Scrutiny

                  A Perfect Quote: “Thirty years ago, the public saw teachers as underpaid and overworked professionals trying to prepare the next generation for leadership. These days, the teachers unions are doing their best to present an image of arrogant entitlement combined with an inability to withstand scrutiny and accountability. ” – ED MORRISSEY, of Hot Air Teacher’s unions need to be broken and banned. As Do All Government Employee Unions.