Categories
links

Townhall: Whac-​A-​Mole and the Clueless Politician

For our Townhall readers, an expansion on a theme from last week: the nature of interventionism.

Click on  over, then come back here for more reading. Or, perhaps, discussion. And caution: concentration and “too big to fail” are not the only problems that are emerging in the wake of Dodd-​Frank. As suggested in the Whac-​A-​Mole game, problems keep on coming.

Categories
video

Video: Forget Communism?

One has to repeat the oft-​repeated line from Santayana, here: “Those who cannot remember the past are condemned to repeat it.”

Categories
Today

St. Valentine executed, Sandinistas agree to elections

On Feb. 14, 278 A.D., Valentine, a priest in Rome during the reign of Emperor Claudius II, was executed. In order to facilitate the raising of an army for his unpopular military campaigns, the emperor outlawed all marriages and engagements. Valentine defied Claudius’s order and continued to perform marriages for young lovers in secret. Once discovered, Valentine was arrested and condemned by the Prefect of Rome to be beaten to death with clubs and to have his head cut off. The sentence was carried out on February 14. Valentine was named a saint by the Roman Catholic Church after his death.

Feb 14, 1989, at a meeting of the presidents of Nicaragua, Honduras, Guatemala, Costa Rica, and El Salvador, the Sandinista government of Nicaragua agreed to free a number of political prisoners and hold free elections within a year. In return, Honduras promised to close bases used by anti-​Sandinista rebels. Within a year, the Sandinistas were defeated in Nicaragua elections.

Categories
too much government

Whac-​a-​Molenomics

The other day, when discussing Dodd-Frank’s ill effects on the financial system, I detected a pattern.

Politicians had identified the crash of 2007 – 2009 and “did something.” They rushed to reform the financial regulatory system in accord with their preconceived notions. Since then the financial system has become more concentrated, with community banks dropping off like flies.

The pols say they are defenders of the downtrodden, but they simply played into the hands of the “fat cats.”

It’s the way of ham-​handed interventionism. Every fix puts us in a bigger fix, so to speak, as “unintended consequences” multiply in the negative.

whacamovalIt’s like Whac-​A-​Mole, the arcade game: a mole pokes its head out of a hole. You hit it with a mallet. And then another mole pops up out of another hole. And you hit it. And you keep doing this, faster and faster, gaining points.

It’s sort of like economic policy. The voters see you hit something. Ding!

But more moles pop up.

In real life, it’s more like Hydra Whac-​A-​Mole. Bop one mole, out come two; bop another, up pop three. And it’s not just five holes on the board. It’s an infinity.

Interventionists cause more problems than they solve. Try to “solve” poverty by taking from the rich and giving to the poor? Soon, there’s not as much money in rich pockets to invest, and there are less jobs: the poor become trapped; they cease to improve themselves for work; their children lack role models; &tc., &tc., &tc.

Whac-​A-​Mole!

Or, as they might as well say in the halls of Capitol Hill: Hail, Hydra.

This is Common Sense. I’m Paul Jacob.

Categories
Today

Galileo to Inquisition, Dresden bombed

On Feb. 13, 1633, Italian philosopher, astronomer and mathematician Galileo Galilei arrived in Rome to face charges of heresy for advocating Polish astronomer Nicolaus Copernicus’s theory that the Earth revolves around the Sun. In April, Galileo pled guilty before the Roman Inquisition in exchange for a lighter sentence. Put under house arrest indefinitely by Pope Urban VIII, Galileo spent the rest of his life at his villa in Arcetri, near Florence, before dying in 1642.

On Feb. 13, 1945, the bombing of Dresden by the Royal Air Force and the United States Army Air Force began, lasting for three days. The inner city of Dresden was largely destroyed and early reports estimated 150,000 to 250,000 deaths. The German Dresden Historians’ Commission, in an official 2010 report published after five years of research, but years after the war, concluded there were up to 25,000 civilian casualties.

Categories
Thought

J. S. Mill

If all mankind minus one were of one opinion, and only one person were of the contrary opinion, mankind would be no more justified in silencing that one person, than he, if he had the power, would be justified in silencing mankind.