Author: Jim

war

Against Libertarian Imperialism

Faré on Distributed Republic criticizes the Rothbardians for supporting the enemies of their country. Many libertarians, after Rothbard, start from the correct assumption that one’s government is one’s first and most direct enemy, to the conclusion that one should always side with the enemies of one’s current oppressor. Rothbardians are wrong in supporting our enemies …

economics

The cause of the crisis 4-3

In the cause of the crisis, I addressed fraudulent ratings. Bill draws my attention to a report on securitized loans issued by the New York Fed in which they examine the somewhat surprising ratings given to New Century Financial: You might consider blogging this absolutely hilarious paper from a couple of people at the New …

economics

Finally, pirates resisted

Somali pirates attacked the Maersk Alabama on Wednesday for the second time in seven months and were “thwarted by private guards”. It appears that “thwarted” actually means “killed”, which is the only effectual way to “thwart” pirates. This will have the effect that pirates will cease to attack ships flying the American flag, which a …

economics

US inflation rising

The latest official cpi is 0.3% rise for the month of October, which, annualized, is 3.6% – higher than is desirable, high enough to cause moderate damage to investment and employment,but not high enough to be a serious problem. Actual inflation, in my doubtless biased judgment,  is probably around seven percent, high enough to be …

economics

Productivity leaps?

Since the holes are valued at cost, and filling them in also valued at cost, and since the peasants working in the Lord sector are well paid, better paid than ordinary peasants, though not quite as well paid as the lord and his retainers, and since the Lord and his retainers also took a modest pay rise for arranging all this prosperity, total value produced, total GDP is now a whopping eight hundred and fifty thousand sacks of wheat, a fourfold rise in GDP. One of the Lord’s retainers is an economist, who gets a Nobel prize for explaining that the Lord has done such a good job.

politics

Judaism is racism, says the British Court of Appeals

A Jewish school, partially funded by the British taxpayer, has been ordered it cannot define Jews by descent, because this is “racism”.  Unfortunately, Judaism does define Jews by descent.  If the effect of the ruling was merely that Jewish institutions, being “racist” cannot receive government funding, this would not be too bad, but unfortunately, Britain …