... of a modern man!
...Humans...are impressionable, emotional and irrational. We buy things we don’t need, often at arbitrary prices and for silly reasons....We believe price tends to indicate the value of things, not the other way around...[we] squander valuable time to get something free. ....
C., ... who just bought a new BlackBerry PlayBook, 32GB, for C$249.99! [more]
First, some Canadians are not taking this fracking business laying down! [more]
...In the name of freedom – freedom from regulation – the banks were permitted to wreck the economy. In the name of freedom, taxes for the super-rich are cut. In the name of freedom, companies lobby to drop the minimum wage and raise working hours. In the same cause, US insurers lobby Congress to thwart effective public healthcare; the government rips up our planning laws; big business trashes the biosphere. This is the freedom of the powerful to exploit the weak, the rich to exploit the poor. [....]
...Modern libertarianism is the disguise adopted by those who wish to exploit without restraint. It pretends that only the state intrudes on our liberties. It ignores the role of banks, corporations and the rich in making us less free. It denies the need for the state to curb them in order to protect the freedoms of weaker people. This bastardised, one-eyed philosophy is a con trick, whose promoters attempt to wrongfoot justice by pitching it against liberty. By this means they have turned “freedom” into an instrument of oppression. [more]
... if you're not, too, too much into the Twelve Days of Christmas, that is!
This batch of lectures deals with timely issues such as bank bailouts, equality and inequality, taxes, the role of markets, et al.
Worth your while to squeeze in a lecture or three between spirit-fortified eggnog, imho!
On line Harvard course exploring Justice, Equality, Democracy, and Citizenship.
C., ... true love! [more]
Longish interview. Worthy of your time spent reading, imo! Ends with:
... For the long-term future, I’m pretty optimistic. We might have been doing things backwards for the last 40 years, but in terms of 500-year cycles, well, 40 years is nothing. Eventually there will have to be recognition that in a phase of virtual money, safeguards have to be put in place – and not just ones to protect creditors. How many disasters it will take to get there? I can’t say.
But in the meantime there is another question to be asked: once we do these reforms, will the results be something that could even be called ‘capitalism’?
Let's see: ... color teevee, iTrash item or two, car, trip to some muddy-waters dispensery for lo-cal latte now and then and presto!, ... I guess, compared to some bedouin, the poor are doing fantabulously! Pretty well equal to Cowen, or near equal, ... or close to equal - if you don't count, say, his larger house - just as an example!
...there is less to the income inequality issue than meets the eye. Most analysis of income inequality neglect two major points. First, the inequality of personal well-being is sharply down over the past hundred years and perhaps over the past twenty years as well. Bill Gates is much, much richer....yet it is not obvious that he is much happier if, indeed, he is happier at all. I have access to penicillin, air travel, good cheap food, the Internet and virtually all of the technical innovations that Gates does. Like the vast majority of Americans, I have access to some important new pharmaceuticals, such as statins to protect against heart disease. To be sure, Gates receives the very best care from the world’s top doctors, but our health outcomes are in the same ballpark. I don’t have a private jet or take luxury vacations, and—I think it is fair to say—my house is much smaller than his. I can’t meet with the world’s elite on demand. Still, by broad historical standards, what I share with Bill Gates is far more significant than what I don’t share with him. [....]
The Inequality That Matters
Actually Cowen, it's elite apologists like you who represent the ugly face of inequality!
Oh, get stuffed...
Pretty good read:
How can three stories from a single source, published over a five-day span, simultaneously claim that supply is adequate and inadequate; and that prices would remain high due to strong demand, but would be so high that they would destroy demand?
Why energy journalism is so bad
'Pure as the driven snow' big Canadian Banks are on this list, too! Who knew?
The Federal Reserve and the big banks fought for more than two years to keep details of the largest bailout in U.S. history a secret. ...
Secret Fed Loans Gave Banks $13 Billion Undisclosed to Congress