Categories
free trade & free markets

Tweet, Tweet, Zoom

Recently, Peter Thiel, a very interesting mover and shaker in today’s most vibrant markets, criticized the upshot of today’s technology: “We wanted flying cars, instead we got 140 characters.” That’s a slam at Twitter, a free service that somehow makes enough to stay afloat.

The lack of flying cars, though: Is that a problem?

Joshua Gans thinks we should ask ourselves whether we really want flying cars. You know, in our heart of hearts. After all, kids want to be Superman.

Markets only deliver the possible.

And much of what they deliver we hadn’t thought of before: iPods/iPhones/iPads weren’t really dreamed about much, outside of Dick Tracy/Star Trek fandom.

As for Twitter, Gans says it’s “a new communications protocol and more than just social media,” which makes it “more than merely trivial.” I’m sure he’s right. But I still keep kicking myself: whose time is worth so little that it’s worth complaining about free stuff?

Thiel’s focus is on technology, not markets — but it is the market that brings us stuff. Free markets are not “free” as in no price, they are free as in being unencumbered by busybody regulators, prohibitionists, and thieves. Such markets strike me as amazingly effective at providing a wide range of goods to the rich and the poor and everyone in-between. Hobbled, subsidized markets, on the other hand, exhibit Tweetable perversities — and usually serve the rich better than the poor.

Still, a lot of folks complain about what markets have to offer. I don’t get that, either. Hey, I reject most offers. So can they.

I say we stick to complaining about offers we can’t refuse.

This is Common Sense. I’m Paul Jacob.

Categories
Thought

William Leggett

It ought to be one of the leading objects of the democracy of this country for many years to come to diminish the power of the general and several state governments, not to increase it.

Categories
Thought

Alexis de Tocqueville

Two things in America are astonishing: the changeableness of most human behavior and the strange stability of certain principles. Men are constantly on the move, but the spirit of humanity seems almost unmoved.

Categories
general freedom media and media people national politics & policies

Give PSA’s a Chance?

After the George Zimmerman verdict, a slice of the country protested, insisting on the guilt of the exonerated Zimmerman. The president went on air and pled “for understanding.” And Fox’s Bill O’Reilly took the occasion to chide the country’s black leadership for not doing the right kind of Public Service Announcements.

Much of what O’Reilly said was on target. The high rates of unwed parenthood in the African-American community — 73 percent — and the consequent predominance of single-parent households lies at the heart of many problems.

Yet, neither O’Reilly’s idea of PSAs “telling young black girls to avoid becoming pregnant,” nor President Obama’s efforts to give young black men “the sense that their country cares about them,” would likely change behavior.

Black unemployment and rates of illegitimate births were lower half a century ago than white rates. What happened?

Black Americans were hardest hit by the rise of the welfare state.

First, raising minimum wages placed low-skilled workers at a disadvantage, with each wage floor hike doing more damage.

Second, the general switch in state aid from assistance to intact families to aid to mothers with dependent children took away a major disincentive for irresponsible sexual practices. Throw in the sexual revolution, and you have a powder keg.

Third, the War on Drugs established the market conditions for illegal activity, and encouraged the formation of gangs. Drugs made users unfit for most work, while providing a lucrative draw for those wanting to advance economically.

None of this is a mystery. But sadly, I fear America’s black leadership would rather do Bill O’Reilly’s PSA’s than really address these problems.

This is Common Sense. I’m Paul Jacob.

Categories
Thought

William Leggett

As a general rule, the prosperity of rational men depends on themselves. Their talents and their virtues shape their fortunes. They are therefore the best judges of their own affairs, and should be permitted to seek their own happiness in their own way, untrammelled by the capricious interference of legislative bungling, so long as they do not violate the equal rights of others, nor transgress the general laws for the security of person and property.

Categories
links

Townhall: Get Well Soon, Mayor Filner

Send your sympathies to San Diego’s beleaguered mayor. Click on over to Townhall for this weekend’s Common Sense column. Come back here for a few more gulps.

Categories
video

Video: The Very Idea of a Fair Vote

Insiders sew up elections by stitching up bizarre voting districts. What can be done?

Categories
Thought

William Leggett

This power of regulating—of increasing or diminishing the profits of labour and the value of property of all kinds and degrees, by direct legislation, in a great measure destroys the essential object of all civil compacts, which, as we said before, is to make the social a counterpoise to the selfish feeling. By thus operating directly on the latter, by offering one class a bounty and another a discouragement, they involve the selfish feeling in every struggle of party for the ascendancy, and give to the force of political rivalry all the bitterest excitement of personal interests conflicting with each other. Why is it that parties now exhibit excitement aggravated to a degree dangerous to the existence of the Union and to the peace of society? Is it not that by frequent exercises of partial legislation, almost every man’s personal interests have become deeply involved in the result of the contest? In common times, the strife of parties is the mere struggle of ambitious leaders for power; now they are deadly contests of the whole mass of the people, whose pecuniary interests are implicated in the event, because the Government has usurped and exercised the power of legislating on their private affairs.

Categories
Today

July 27

On July 27, 1694, the Bank of England received a royal charter, beginning a long history of central banking in England. Subsequent inflationary booms and deflationary busts are subsequently considered “mysterious” by people connected with the bank.

John Steinbeck’s Travels with Charley in Search of America, was published on July 27, 1962, quickly becoming a bestseller. Recent investigation by Bill Steigerwald, in Reason magazine, showed that Steinbeck’s editors heavily edited the pro-New Deal ms. prior to publication, utterly changing its character.

On this day in 1974, the U.S. House of Representatives Judiciary Committee voted 27 to 11 to recommend the first article of impeachment (for obstruction of justice) against President Richard Nixon.

July 27 births include that of Samuel Smith (1872; pictured), an American who served as a captain, major, and lieutenant colonel in the Continental Army, and later as a politician in several capacities in the state of Maryland; Hillaire Belloc (1870), author of a classic analysis of modern political governance, The Servile State; and American singer and songwriter Bobbie Gentry (1944).

Categories
ideological culture

A Very American Turn

Is there a wisdom emanating from the great mass of Americans — a common sense?

A new USA Today/Bipartisan Policy Center poll found that Americans still possess a strong civic-mindedness, but are souring on government and politics: “Americans by more than 2-1 say the best way to make positive changes in society is through volunteer organizations and charities, not by being active in government.” This is even more true of younger people than older folks, like me.

And yet, despite the distaste increasing numbers of Americans have towards their governments, they aren’t turning against service. They’re just switching from the realm of the State to the realm of communities and non-profits.

This seems entirely rational, a welcome development. Rational, in that, yes, of course today’s big government politics is poisonous. And government doesn’t work the way people dream it might. It’s not magic. And there are sharp diminishing returns. That’s why the political realm works best when distinctly constrained.

That is, the best governments govern least, when limitations — constitutional checks and balances, a rule of law, term limits, etc. — are placed upon its operations.

Now, there’s no real magic in the non-profit sector, either. It’s not as easy to give effectively as it is garner donations from the sympathetic. But, more good news, the charitable sector may be on the brink of a major revolution, too.

While hordes of well-meaning folks turning off of politics may cede ground to the politically unsound, better, younger, and more enthusiastic (and even ambitious) folks entering the voluntary sector has to be a good thing.

This is Common Sense. I’m Paul Jacob.