Quotulatiousness

December 31, 2011

A billion here, a trillion there, pretty soon you’re talking about imaginary money

Filed under: Economics, Government, USA — Tags: , , — Nicholas @ 11:35

Mark Steyn on the crossing of the psychological Rubicon:

At the end of 2011, America, like much of the rest of the Western world, has dug deeper into a cocoon of denial. Tens of millions of Americans remain unaware that this nation is broke – broker than any nation has ever been. A few days before Christmas, we sailed across the psychological Rubicon and joined the club of nations whose government debt now exceeds their total GDP. It barely raised a murmur — and those who took the trouble to address the issue noted complacently that our 100 percent debt-to-GDP ratio is a mere two-thirds of Greece’s. That’s true, but at a certain point per capita comparisons are less relevant than the sheer hard dollar sums: Greece owes a few rinky-dink billions; America owes more money than anyone has ever owed anybody ever.

Public debt has increased by 67 percent over the past three years, and too many Americans refuse even to see it as a problem. For most of us, “$16.4 trillion” has no real meaning, any more than “$17.9 trillion” or “$28.3 trillion” or “$147.8 bazillion.” It doesn’t even have much meaning for the guys spending the dough: Look into the eyes of Barack Obama or Harry Reid or Barney Frank, and you realize that, even as they’re borrowing all this money, they have no serious intention of paying any of it back. That’s to say, there is no politically plausible scenario under which the 16.4 trillion is reduced to 13.7 trillion, and then 7.9 trillion and, eventually, 173 dollars and 48 cents. At the deepest levels within our governing structures, we are committed to living beyond our means on a scale no civilization has ever done.

The Christian Post: No, you can’t be a Christian and a libertarian

Filed under: Liberty, Religion — Tags: , , — Nicholas @ 11:27

The executive editor of The Christian Post explains why liberty is incompatible with the teachings of Christianity:

Dr. Richard Land, president of the Ethics & Religious Liberty Commission of the Southern Baptist Convention and executive editor of The Christian Post, said that “of course libertarians can be Christians — but so can racists.”

“If you are a Christian and a libertarian, you would have to basically ignore all of Romans 13 where God lays down a specific role that the government is divinely ordained to play which is to reward those who are right and punish those who are evil.”

“Libertarians are not being consistent in applying the Bible to their thought process,” Land contended The government not only has a right, he said, but is called upon by God to regulate societal morality.

“Slavery was outlawed by the government. Is that not a moral issue? There are laws against rape, murder, theft … all of these are moral issues that the government has and must regulate.”

The evangelical leader argues that libertarians compartmentalize their faith when their Christian faith must be first and foremost in every aspect of their life — even in politics and government.

Many Christian libertarians, for instance, argue that sin that is “victimless” — such as drug use — should not be made illegal because users knowingly chose to use the substance on their own accord, and by exercising their free will poorly, they will also have to suffer the consequences.

Conservative Christians, however, do not see any sin as “victimless” and argue that Christianity by its very nature affirms the idea of corporate solidarity. Therefore, every action, or lack of, has a ripple effect on society, which impacts the lives of others.

According to the Christian Right, libertarians put too much emphasis on individual liberties and not enough on the consequences those liberties could have on society.

Vikings start to assess their greatest needs in the 2012 draft and free agency

Filed under: Football — Tags: , , — Nicholas @ 11:17

With the final regular season game tomorrow, the Vikings will close up shop until the run-up to the draft. John Holler looks at the current roster and points to obvious areas of need that must be addressed before the start of the 2012 NFL season.

(more…)

The “Reverse Pelzman” Effect

Filed under: Americas, Bureaucracy, Economics — Tags: , , , — Nicholas @ 10:35

A semi-serious discussion of a real-world experiment in getting rid of driving licenses:

Those of us who are econ geeks will know about the Pelzman Effect. Regulations that supposedly make us safer (say, seatbelts or cycling helmets) don’t actually make us safer as behaviour changes to take account of the new safety. Almost as if there’s what we consider to be an acceptable risk to take and reducing it in one manner just allows us to be silly in another so as to maintain that risk we’re comfortable with. What I didn’t know (but better econ geeks than I might have done already) is that there is a Reverse Pelzman Effect.

Exploiting an interesting natural experiment, the authors of that paper are able to show that we should abolish driving licences. The various States of Mexico found that bribery was impossible to avoid when attempting to gain a licence. So, to varying degrees, they changed their issuance system, some deciding simply not to have them any more. So, of course, death rates from car accidents went up, didn’t they?

Erm, actually, no, they didn’t. Those places that didn’t bother with licences any more, allowing absolutely anyone at all to get in and drive, saw no change in such death rates any different from those that had now (well, hopefully) incorruptible issuance systems.

Don’t mess with Firefly (or the right to free speech)

Filed under: Bureaucracy, Education, Liberty, Media — Tags: , , , , — Nicholas @ 00:05

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