Before I get into the analysis of what happened in Simi Valley tonight, I’ve just got to say —- best debate backdrop ever.
I mean, seriously, how can a stage somewhere in Florida, New Hampshire, or Podunk, Iowa compete with a stage that looks out on the plane that served as Air Force One for nearly […]
From The Liberty Papers
Tags: Libertarian, Politics, Liberty, Freedom
A new Rasmussen Reports poll seems to suggest that third-party runs by Michael Bloomberg and Ron Paul would hurt Republicans more than Democrats in the General Election:
In a head-to-head match-up between Romney and Obama, Obama currently leads by nine percentage points. When Bloomberg and Paul are added to the list of possible candidates, Obama’s […]
From The Liberty Papers
Tags: Libertarian, Politics, Liberty, Freedom
Given the tendency of us wonks here to have great faces for radio we’re happy to outsource these videos on the Laffer Curve to the George Clooney of the free market movement (self-described we note). We give you Dan Mitchell.
Yes, Netsmith knows that these people are lefties, but more joy in heaven over one sinner that repenteth etc. Finally, a Nanny State regulation not even they like.
Not good news at all: productivity in the NHS continues to fall. Proof once again that it’s not how much money you spend, it’s how you spend it that’s important.
Long and detailed but useful for those who want to try and understand part of the American mortgage market and its current turmoils. The final paragraph simply emphasises that Heinlein was right: TANSTAAFL.
It would appear that it is not only our own, home grown, media which is at times innumerate.
On South Africa’s energy problems: it seems that, apart from coal, the entire mining industry is shut down.
And finally, technological changes have uncertain effects. Who knew that mobile phones and wristwatches were substitutes?
From Adam Smith Institute
Tags: Libertarian, Politics, Liberty, Freedom
Today’s Washington Examiner has an interesting profile of Cato Institute President and founder Ed Crane in which he gives his assessment of the Presidential field:
“I’m amazed that people take a candidate like [Mike] Huckabee, who doesn’t believe in evolution, seriously,” said Crane, who presides over a Washington think tank famous for telling the government to […]
From The Liberty Papers
Tags: Libertarian, Politics, Liberty, Freedom
Cato’s Michael Tanner takes a look at the guy who will, barring something truly extraordinary, be the Republican nominee for President:
While Rush Limbaugh and Sean Hannity sometimes portray McCain as a virtual clone of Ted Kennedy, the fact is that he is a true fiscal conservative—certainly more of a fiscal conservative than, say, Mitt Romney. […]
From The Liberty Papers
Tags: Libertarian, Politics, Liberty, Freedom
Given the news that’s breaking this morning, about which there is more below, it’s fairly clear that the race for the Republican and Democratic nomination have both entered their final phase, and things are turning out far differently than we thought they would one month, or even two weeks, ago.
Republicans
John McCain is now the frontrunner […]
From The Liberty Papers
Tags: Libertarian, Politics, Liberty, Freedom
21. We are using up resources for the future; we should all learn to live more simply.
Although it might seem obvious that the supply of resources is limited, and that they grow more scarce as we use them up, this is not in fact true. It costs money to locate reserves of scarce resources, so we tend to search for more as the price rises. In other words, as they grow scarce, we can often establish more supplies.
Furthermore, as materials grow scarce, the price rises and it becomes more economic to mine marginal reserves. Not only that, it becomes cheaper in some cases to use or develop substitutes. As supplies appear to dwindle, so does the rate of use. Instead of the world suddenly waking up one morning to find the last ounce of aluminium gone, it turns gradually to glass filaments and to carbon fibre as substitutes. New methods of extraction and reclamation become economically viable. The question is whether our development of new sources and substitutes is faster than our use of resources.
There is one reliable indicator. No one knows what new sources will be developed, or how fast our use will be. We do know, however, that price is a guide to the ability of supply to meet demand. Over many years the real price of most commodities (excluding oil) has been going down. This means that they have been becoming progressively more available, and that our relative supply has been increasing rather than diminishing.
We do not have to live more simply. On the contrary, we have to keep on developing new technology to make better use of our resources and to extract from more difficult locations. In this way our relative supply of them will continue to increase. If we start to "live more simply" we may lose the ability to economize on them and replace them.
From Adam Smith Institute
Tags: Libertarian, Politics, Liberty, Freedom
We have an interesting event coming up tomorrow, an evening seminar on ‘The Future of Immigration’. Our guest speakers will be Philippe Legrain, the UK’s leading advocate of open immigration and author of Immigrants: Your Country Needs Them, and Damian Green MP, the Conservative Immigration spokesman.
Immigration is a difficult subject – one I sometimes feel conflicted about myself. The free-marketeer in me thinks we should encourage the free movement of labour, just as we strongly advocate the free movement of goods, services and capital. If someone wants to come to this country to work and contribute, then surely we should welcome them. The economic benefits of immigration are pretty clear and there is no doubt that immigrants usefully fill many gaps in the UK labour market. Where would the tourist industry, for instance, be without foreign workers? In the global context, there is another important benefit to immigration: remittances. The amount of money sent back to developing countries by people working the rich world now dwarfs government aid – and unlike aid it goes straight into the hands of individuals, where it can make a real difference.
Of course, there are serious arguments in the other direction as well, and they are hard to ignore. There is little doubt, for example, that mass immigration has heightened racial tensions in some parts of the UK, and contributed to the ghetto-ization of many big towns and cities. Furthermore, in a country where public services are government-controlled and incapable of reacting to demand, large numbers of immigrants can put them under immense strain. There are other legitimate concerns too.
These are the kinds of issues that will be discussed on Thursday, and I have no doubt the debate will be lively. The seminar, which is being held in our offices at 23 Great Smith Street, Westminster, kicks off at 6.30pm (doors open at 6), with drinks to be served at 7.30pm. If any of you would like to come, please email Steve at steve@adamsmith.org or call 020 7222 4995.
From Adam Smith Institute
Tags: Libertarian, Politics, Liberty, Freedom
Digby, Lord Jones – formerly director-general of the CBI and now Minister of State for Trade and Investment – was our Power Lunch guest this week. He spoke very candidly and engagingly about his role as a GOAT (government of all the talents) and sparked some fascinating discussion around the table. What really shone through was the clarity of his ministerial remit (to promote the British brand overseas), and his enthusiasm for and expertise in getting the job done. That always seems to be a rare quality in politicians, but then, I suppose, Digby Jones is not really a politician anyway. He may have taken the government whip, but he has not joined the Labour Party.
It made me wonder whether there might be some mileage in appointing more government ministers – or even secretaries of state – who are not MPs. US cabinet members are typically far more qualified for their positions than their British counterparts. The US Treasury Secretary, for instance, usually comes from a financial rather than political background – and this is surely a good thing. Thinking really radically, couldn’t we directly elect Prime Ministers, have them appoint top quality cabinets, and turn Parliament into a US-style legislature, with its own agenda and powerful committees to grill government ministers? Well, perhaps not, but there may be something in the idea. I’m probably just getting carried away with US election fever…
From Adam Smith Institute
Tags: Libertarian, Politics, Liberty, Freedom
From Adam Smith Institute
Tags: Libertarian, Politics, Liberty, Freedom
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