XTC Vs. Adam Ant
Murry N. Rothbard on state versus free-market capitalism.#
Unfortunately, the term "capitalism" was coined by its greatest and most famous enemy, Karl Marx. We really can't rely upon him for correct and subtle usage. And, in fact, what Marx and later writers have done is to lump together two extremely different and even contradictory concepts and actions under the same portmanteau term. These two contradictory concepts are what I would call "free-market capitalism" on the one hand, and "state capitalism" on the other.
The difference between free-market capitalism and state capitalism is precisely the difference between, on the one hand, peaceful, voluntary exchange, and on the other, violent expropriation. An example of a free-market exchange is my purchase of a newspaper on the corner for a dime; here is a peaceful, voluntary exchange beneficial to both parties. I buy the newspaper because I value the newspaper more highly than the dime that I give up in exchange; and the newsdealer sells me the paper because, he, in turn, values the dime more highly than the newspaper. Both parties to the exchange benefit. And what we are both doing in the exchange is the swapping of titles of ownership: I relinquish the ownership of my dime in exchange for the paper, and the newsdealer performs the exact opposite change of title. This simple exchange of a dime for a newspaper is an example of a unit free-market act; it is the market at work.
In contrast to this peaceful act, there is the method of violent expropriation. Violent expropriation occurs when I go to the news-dealer and seize his newspapers or his money at the point of a gun. In this case, of course, there is no mutual benefit; I gain at the expense of the victimized newsdealer. Yet the difference between these two transactions--between voluntary mutual exchange, and the holdup at gunpoint--is precisely the difference between free market capitalism and state capitalism. In both cases we obtain something--whether it be money or newspapers- but we obtain them in completely different ways, ways with completely different moral attributes and social consequences.
Julie Leung looks towards the past...#
I'm not sure I have words to describe what it is that's missing in society. I can't articulate why I ache. Sometimes I long for another era, for a resurrection of times past, but I wonder whether I am simply imagining a fantasy with rose-colored retro-lenses, painting a picture of a place in my mind that never existed in the world. Books and movies aren't reality. But reading Jay's review and then Michael's has confirmed to me that others may share my longings and imagination. They've also given me words to describe what I want to see in our society: class and happiness.
I think ditching the rose-colored glasses is important. By this I mean do not assume that the past was completely wonderful, but this does not mean elements of the past were not more agreeable than the current situation.
Specifically related to Jane Austen, the courtship, sweet letters, and balls were certainly romantic and grand but accompanied with them is the practice of wearing your salary on your shirt, strict barriers between ranks (even within the elite,) and the cold responsibilities of the lady of the house for her lord.
saturday I jotted some words I thought
all about a girl that I thought I loved
told the story of what we did and what went wrong
you've heard it all before it's the same old shit so I won't bore you with all the details
I'm sure you can listen between the lines
I screwed her and she screwed me
but we never once has sex
all we ever have is too much time love is just a joyride
drink a lot of beer and climb inside
lay your foot down on the gas
leave it there until you crash
love is just a joyride [love]
drink a lot of beer and climb inside [is just a]
lay your foot down on the gas [joy ride]
leave it there until you crash this part of the song is called the second verse
sounds just like the first but with different words
it only has three chords and they are A and E and D
they are A and E and D
then it goes to D minor, D, uh, A, E, D
John Wiseman links to a great story about Richard Feynman.#
Getting Richard to give advice like that was sometimes tricky. He pretended not to like working on any problem that was outside his claimed area of expertise. Often, at Thinking Machines when he was asked for advice he would gruffly refuse with "That's not my department." I could never figure out just what his department was, but it did not matter anyway, since he spent most of his time working on those "not-my-department" problems. Sometimes he really would give up, but more often than not he would come back a few days after his refusal and remark, "I've been thinking about what you asked the other day and it seems to me..." This worked best if you were careful not to expect it.
I do not mean to imply that Richard was hesitant to do the "dirty work." In fact, he was always volunteering for it. Many a visitor at Thinking Machines was shocked to see that we had a Nobel Laureate soldering circuit boards or painting walls. But what Richard hated, or at least pretended to hate, was being asked to give advice. So why were people always asking him for it? Because even when Richard didn't understand, he always seemed to understand better than the rest of us. And whatever he understood, he could make others understand as well. Richard made people feel like a child does, when a grown-up first treats him as an adult. He was never afraid of telling the truth, and however foolish your question was, he never made you feel like a fool.
The charming side of Richard helped people forgive him for his uncharming characteristics. For example, in many ways Richard was a sexist. Whenever it came time for his daily bowl of soup he would look around for the nearest "girl" and ask if she would fetch it to him. It did not matter if she was the cook, an engineer, or the president of the company. I once asked a female engineer who had just been a victim of this if it bothered her. "Yes, it really annoys me," she said. "On the other hand, he is the only one who ever explained quantum mechanics to me as if I could understand it." That was the essence of Richard's charm.
Truck and Barter links to an article about the importance of old humans in the development of a society.#
Another thing that doesn't seem to be mention is that in a society without writing, old people are the only way of effectively passing down information. Jared Diamond writes a lot about this in his books and I would be happy to elaborate if asked.
Tyler Cowen shares Gordon Tullock's thoughts on minimum wage.#
Gordon notes that the government can make an employer raise nominal money wages, but can't stop him from turning off the air conditioner. [A more optimistic scenario is that the employer invests in creating a higher-productivity job.] Surely just about every job out there can be made worse, one way or another, in a way that saves the employer money.
So the scenario is now simple. The government boosts the minimum wage. Low-wage workers earn more. Few lose their jobs. Workers sweat more too, one way or another. Few are much better off.