Categories
Thought

Destutt de Tracy

There are … laws of nature, which we cannot change, which we cannot even infringe with impunity; for we are not the authors of our own being, nor of any thing that surrounds us. Thus if we leave a heavy body without support we are subject to be crushed by its fall. So if we do not make provision for the accomplishment of our wishes, or, what will amount to the same, if we cherish desires that are unattainable, we become unhappy; this is beyond doubt, the supreme power, the infallible tribunal, the force irresistible, the inevitable punition, that follows, in which every consequence arises as if it had been so predetermined.

Now society makes what we call positive laws, that is laws which are artificial and conventional, by means of an authority purposely constituted, and with tribunals and an executive power to inforce them. These laws should be conformable to the laws of nature, originating in the same source, consequent of the natural laws, and no wise repugnant thereto; without which consonance, it is certain that nature will overcome them, that their object will not be accomplished, and that society must be unhappy. Whence originate the good or bad qualities of our positive laws, their justice or injustice? The just law is that which produces good, the unjust that which produces evil.

Justice and injustice therefore had an existence before any positive law; although it is only to laws of our own creation we can apply the epithets of just or unjust; since the laws of nature being simply necessary in the nature of things, it belongs not to us to question them any more than to act contrary to them. Unquestionably justice and injustice existed before any of our laws, and had it not been so we should not have any, because we create nothing. It does not appertain to us to constitute things conformable or contrary to our nature. We can ascertain and explain what is right or wrong, only according to our right or wrong comprehension of it; when we declare that to be just which is not so, we do not thereby render it just; this is beyond our power; we only declare an error, and occasion a certain quantity of evil, by maintaining that error with the power of which we have the disposal: but the law, the eternal truth, which is opposed thereto, remains unchanged and the same.

But it must be understood, that what is here said by no means implies, that it is at all times just to resist an unjust law, or always reasonable to oppose with violence what is unreasonable. This must depend upon a previous consideration, whether the violent resistance would not cause more evil than passive compliance: this however is but a secondary question, always dependent on circumstances, the nature of which will be discussed in the sequel…. we are yet a great way in the rear of that subject.

It is sufficient that the laws of nature exist anterior and superior to human laws; that fundamental justice is that only which is conformable to the laws of nature; and that radical injustice is that which is contrary to the laws of nature; and consequently that our posterior and consequent laws should be in unison with those more ancient and inevitable laws. This is the true spirit, or genuine sense, in which all positive laws ought to be established. But this foundation of the laws is not very easily explained or understood: the space between the first principles and the ultimate result is immense.

Categories
Accountability free trade & free markets

Standing By, Standing For

While President Barack Obama, Intoner-in-Chief, reads his “State of the Union” Address this evening, in front of a Congress of Over-Clappers, seated next to his wife will be Apple CEO Tim Cook.

Gene Sperling, White House economic advisor, enthused about the symbolism:

Apple is a great American company, and it stands for our sense of innovation, invention, entrepreneurship, and risk taking and I think that’s quite an appropriate person to be in the First Lady’s box when the president is talking about our economic future, the importance of job creation, manufacturing, innovation and how we create strong middle-class jobs.

Apple is, indeed, a great American business — one of the few that people who typically disdain business can’t stop loving. But it might be worth remembering that Apple’s success doesn’t so much “stand for our sense of innovation, invention, entrepreneurship and risk taking” as exemplify all of those things . . . “our sense of” those qualities is secondhand at best.

But politicians like to soak up secondhand qualities. They eat symbolism for lunch and dinner.

I wonder if the president, in stating the union’s state, will dare compare the qualities of America’s best companies and folks like Tim Cook (corporate heir of Steve Jobs; master of the supply chain) with that of America’s government.

A huge chasm separates them. Having won the election, President Obama enjoys a captive customer base over the next four years. Mr. Cook does not. Obama seeks to raise his revenue by taking more from a tiny minority. Cook has to persuade people to willingly buy his product.

This is Common Sense. I’m Paul Jacob.

Categories
Today

B-B, Feb 12

On February 12, 1809, Charles Darwin and Abraham Lincoln were born. But today’s big birthday celebration here at Common Sense must be that of Eugen von Böhm-Bawerk, 1851.

Böhm-Bawerk was an Austrian economist who followed in the footsteps of Carl Menger, ushering in what has been called “the marginalist revolution” in economics. He applied the new understanding of economics’ first principles to the problems of capital and interest, penning two of the great classics of the literature, known “Capital and Interest”: the two major volumes are “History and Critique of Interest Theories ” and “Positive Theory of Capital.” He also wrote the first scholarly and systematic refutations of Karl Marx’s exploitation theory and general economic perspective, including the brilliant “Karl Marx and the Close of His System.”

Categories
Today

Feb 11

On February 11, 1752, Benjamin Franklin opened Pennsylvania Hospital, the first hospital in the United States. On the same date in 1790, the Religious Society of Friends, also known as Quakers, petitioned U.S. Congress to abolish slavery.

In an early effort towards republican government transparency, on this date in 1794, the first session of United States Senate opened to the public.

February 11 birthdays include

1805 – Jean Baptiste Charbonneau, son of Sacagawea

1833 – Melville Weston Fuller, American jurist and 8th Chief Justice of the United States

1847 – Thomas Alva Edison, American inventor

Categories
free trade & free markets too much government

Banning Consequences

When bad government policies create problems, government officials often pretend that the causes are unrelated to the effects. Instead they enact further bad policies. They may even seek to outlaw the effects, as if prohibiting puddles could stop the rain.

Suppose a government greatly expands the money supply, which leads to a general rise in prices obvious enough to cause people to complain about sticker shock. Governments may try to “solve” the problem with slogans and price controls.

In Argentina, which is lurching toward 30 percent inflation, they’re skipping the Whip Inflation Now buttons and going straight to the price controls. The government has temporarily frozen prices in the largest supermarkets. The two-month freeze is the result of an “agreement” between the trade group representing big stores and the Argentine government.

Now what happens?

Well, customers will race to the big stores, but small stores won’t lose business except in the short run. As the inflated demand outstrips a deflating stock of goods, the big stores and their suppliers won’t see much point in replacing goods that they can sell only unprofitably or at a loss. If they do replace the sold-off stock, they’ll likely do so with shoddier stuff in smaller packages.

Monetary inflation imposes hardship; price controls worsen the hardship. By the same logic, you help somebody whose leg you just broke by smashing his other leg too. You may think that this procedure would restore health, but actually—no.

This is Common Sense. I’m Paul Jacob.

Note on the illustration: The French assignat was an early instance of paper money inflation in Europe.

Categories
Thought

Destutt de Tracy

[L]aw means a rule of action, prescribed by an authority invested with competent power and a right so to do: this last condition is essential, and when it is not possessed, the rule is no longer a law, but an arbitrary command, an act of violence and usurpation.

Categories
Today

Glenn Beck, YMCA

On February 10, 1870, the YMCA was founded in New York City. On the same date in 1964, Glenn Beck was born.

Categories
Thought

Destutt de Tracy

It is scarcely two hundred years since the progress of civilization, of industry, of commerce, that of the social order, and perhaps also the increase of specie, have given to governments the facility of making loans; and in this short space of time these dangerous expedients have led them all either to total or partial bankruptcies, sometimes repeated, or to the equally shameful and more grevious resource of paper money, or to remain overburdened under the weight of a load which daily becomes more insupportable.

But I go farther. I maintain that the evil is not in the abuse; but in the use itself of loans, that is to say that the abuse and the use are one and the same thing; and that every time a government borrows it takes a step towards its ruin. The reason of this is simple: A loan may be a good operation for an industrious man, whose consumption reproduces with profit. By means of the sums which he borrows, he augments this productive consumption; and with it his profits. But a government which is a consumer of the class of those whose consumption is sterile and destructive, dissipates what it borrows, it is so much lost for ever; and it remains burdened with a debt, which is so much taken from its future means.

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links

Townhall: The first-rate idiots behind the new second-rate power

Ah, the great sequestration debate! It rages. But it is high time to insert a little sense into it. Cut to Townhall.com, and come back here for more thoughts, references, and citations.

Categories
Thought

Destutt de Tracy

It is then as erroneous to believe that the loans of government are not hurtful to national industry, as it is to suppose that the funds which they produce, are not taken from any individual involuntarily. In truth these are not the real reasons which cause so much importance to be attached to the possibility of borrowing. The great advantage of loans, in the eyes of their partisans, is that they furnish in a moment enormous sums, which could only have been very slowly procured by means of taxes, even the most overwhelming. Now I do not hesitate to declare that I regard this pretended advantage as the greatest of all evils.