?— Who has the greater moral hazard: the poor begging alms or the rich denying them??— If social security, health care, public education, and other government insurance programs that share the risks and costs of life are moral hazards, what of private insurance programs that externalize and share the risks and costs of ownership and/or […]
Moral Hazard — to the Right and to the Left Read More »
—▪ that unregulated competition destroys competition.—▪ that mergers and acquisitions are mere façades of growth.—▪ that too-big-to-fail SHOULD MEAN too-big-to-be!—▪ that short-term profit mentality does not produce long-term productivity.—▪ that “opposites attract the same lobbyists.” (So whether conservative, liberal, Republican, or Democrat, the concessions and catering to power-brokers descends the same beaten path.)—▪ that unregulated
How Long Till We Get It??! Read More »
~~~1. Thou shalt have no other economic theories before you.[1]2. Thou shalt[2] research, develop, and manufacture goods and services, but above all, the DESIRE for goods and services; and NEVER bow to any attempts to regulate the natural order (and flow) of desire and laissez-faire markets.3. Thou shalt not permit critics of the laissez-faire market-place
The TEN DICTATES (& Natural Selections) of the Laissez-faire Market-Place Read More »
The obsessive pursuit of profit & wealth (gain) has been with the world since Cain killed Abel*; and has been the subject of lamentation in every age. Here is a small sampling of lamentations and warnings:** King Solomon (900s BC)How much better is it to get wisdom than gold! and to get understanding rather to
(*Addressed specifically to every soul upset by Déjà Vu criticisms & more generally to Republicans, Democrats, Conservatives, Liberals, Socialists, Communists, rebels, terrorists, groupies, nationalists, globalists, sectarians, and loyal dependents of every stripe—including those dependent on an employer’s pay cheque[1] or those intimidated by dependency into the façade of loyalty; etc., etc.)Every desired value has its
To Loyalists* Everywhere Read More »
(*First published in 1759 in anticipation of many presidencies, and also includes Prime Ministers, Kings, Queens, and other heads of state; therefore Mr. Bush is not the first to receive this open letter, nor shall he be the last. It’s all déjà vu for Mr. Smith.)[Dear Mr. Former-President:] [I, Adam Smith, first published this observation
Adam Smith’s Open Letter* to Former-President George W. Bush (et al.) Read More »
(*AND Beijing, Berlin, Brazalia, Cairo, Canberra, Damascus, Harare, Havana, Jakarta, Khartoum, Kingston, Kinshasa, Lima, London, Madrid, Manila, Moscow, New Dehli, Oslo, Ottawa, Paris, Riyadh, Rome, Santiago, Seoul, Stockholm, Tegucigalpa, Tehran, Tokyo, Warsaw, and every other place inbetween that is feeling the pressure of extremes from laissez-faire ideology to command economies; AND in every corporate boardroom)
Mr. Smith [is desperately needed in] Washington* Read More »