Use access key #2 to skip to page content.

dickseacup (< 20)

July 2009

Recs

0

US state budgets hit by shrinking tax take

July 20, 2009 – Comments (2)

From the Financial Times web site (ft.com; link in first comment):  [more]

Recs

0

Gov paying over a half million dollars a pound for sliced ham?

July 19, 2009 – Comments (3)

You can read the whole article over at American Thinker, but....  [more]

Recs

0

Fiscal ruin of the Western world beckons

July 18, 2009 – Comments (2)

From The Telegraph:  [more]

Recs

0

Joe Biden: ‘We Have to Go Spend Money to Keep From Going Bankrupt’

July 16, 2009 – Comments (5)

From the opening paragraph of a CNSNews.com article:  [more]

Recs

0

Analysis: The next H-1B fight begins by Labor Day

July 13, 2009 – Comments (4)

From a Computerworld.com article under the same headline:  [more]

Recs

0

True Unemployment Rate Already at 20%

July 08, 2009 – Comments (6)

At least, if you believe John Williams of "Shadow Government Statistics," as reported on MoneyCentral.com. Second paragraph in brings up the birth-death adjustment:  [more]

Recs

0

Economist: FDIC gearing up for bank closures

July 08, 2009 – Comments (1)

As reported in the Washington Business Journal (online):  [more]

Recs

0

Sometimes, tortured logic amuses me

July 06, 2009 – Comments (5)

I am surely not the first person to point out the tortured logic, massive spin, and outright lies that are used in the furtherance of the "Happy Days Are Here Again" meme in the mainstream press. This article from Marketwatch struck me as humorous, though.  [more]

Recs

0

Tax Bill Appeals Take Rising Toll On Governments (really?)

July 05, 2009 – Comments (0)

Here's a story for you, alstrydomous:  [more]

Recs

0

Harrisburg chapter of NAACP urges martial law

July 02, 2009 – Comments (1)

The locals in Harrisburg, Pennsylvania have been running roughshod over local law enforcement recently. Apparently, the crime has gotten so out of hand, including a recent spate of drive-by shootings, that Governor Ed Rendell has called upon the PA State Police to assist local police.   [more]

Recs

0

I Am Afraid Jos. Schumpeter Was Right

July 01, 2009 – Comments (0)

Warning...sub-standard stream of consciousness writing preceded by a mind-numbingly long day to follow. Get out while you can.

...

As I watch the continuing, controlled demolition of the US economy, complete with claims of jury-rigged, Ponzi scheme-esque equities markets, "perpetual opposite day" sound bites from elected representatives (and I use that term lightly), I cannot help but think back to "Capitalism, Socialism and Democracy." That weighty tome penned by the enlightened intellect of one Joseph Schumpeter.
 
He wasn't the first philosopher to employee the term "creative destruction," but I believe his use of it as an economic term was novel, at the time. Essentially, Schumpeter argues that the impact of innovation is such that it causes the death of "the old way" while replacing it with "the new way." It doesn't matter much whether you think of innovation in terms of technology, processes, materials or even schools of thought, interestingly enough. You have probably seen, if not been directly impacted by, the effects of "creative destruction" many times over the course of your life. The telephone replacing the telegraph for long-distance communication, email replacing postal mail, digital cameras supplanting film, &c. The list is nearly endless. In each case, one can observe the entrenched "masters" of "the old way" fighting tooth and nail to prevent their own demise. Inevitably, however, they fail.

As interesting a concept as Schumpeter’s use of "creative destruction" is, however, it pales in comparison to the meat of "Capitalism, Socialism and Democracy." Specifically, he lays out a road map for the downfall of capitalism. His theory, broadly stated, is that capitalism will give way to a rough form of corporatism. This corporatism will snuff out the values that made capitalism work in the first place, and will be driven, primarily by the intellectual class. Entrepreneurialism and capitalist pursuits will be anathema in the social environment that grows up around the latter stages of corporatism.   [more]

Featured Broker Partners