Quotulatiousness

June 1, 2012

“Only the enemies of the Euro and of the European political project … dream of such a cataclysm”

Filed under: Britain, Economics, Europe — Tags: , , , — Nicholas @ 13:22

To be a True European, you must believe in the European project wholeheartedly and unreservedly. Any other attitude is unacceptable:

I was once interviewed by one of Le Soir’s best-known journalists, who asked me whether I was in favor of the European project. I said that I would answer if she would tell me what it was. She did not, and we moved on to other subjects. Whatever the European project may be, those who don’t embrace it wholeheartedly — with a fervor that can only be described as mystical, considering that no one can explain or define it in simple terms — are depicted not as skeptics, but as enemies. Thus in Le Soir, we read: “Only the enemies of the Euro and of the European political project, notably the City of London, dream of such a cataclysm [the break-up of the single currency]!”

The City of London — Britain’s equivalent of Wall Street — here plays the role of the bloated plutocrat of Soviet iconography or of the Jewish manipulator of Nazi iconography, pulling the strings behind the scenes in order to achieve its malevolent design of controlling the world. One can make many possible criticisms of the City of London, but a determination to destroy the viability of the euro for some unspecified, atavistic reason is certainly not among them. If the euro is viable, the City couldn’t destroy it; if it is not, the City cannot save it. Besides, the idea that there is a congregation of malign conspirators within the fabled Square Mile who would rejoice at the euro’s implosion is absurd; the prospect is almost universally viewed with apprehension, though it would not come as a surprise to everyone.

This week in Guild Wars 2

Filed under: Gaming — Tags: , — Nicholas @ 11:37

My latest weekly column at GuildMag is now online. We’re all now waiting for next weekend’s beta event to start.

Bloomberg’s latest “nudge” experiment

Filed under: Food, Government, Health, Liberty, USA — Tags: , , , — Nicholas @ 08:28

In his Maclean’s column, Colby Cosh explains the problem with New York City mayor Michael Bloomberg’s attempt to solve the obesity problem 32 ounces at a time:

Stopping people from exercising preferences is harm. You say Internet Commentator X doesn’t think having a Big Gulp is an important freedom? Does he not see Commentators Y through Upsilon standing right behind him, making the same case against marijuana and hijabs and labour unions and skiing?

This innate prejudice against social engineering for its own sake, which ought to be strong in liberals but is utterly absent in Bloomberg, is paired with an empirical prejudice against social engineering because of the near-inevitable consequences — chief among them being that the institutions created to enforce a for-your-own-good law wander very quickly from anyone’s good but that of the enforcers. I stacked the deck a little by mentioning the Eighteenth Amendment, because it shouldn’t form part of the justification for anything: it took literally six years [for] the U.S.A. to go from “Let’s roust these poor addicted creatures out of the saloon” to “Let’s deliberately poison thousands of Americans to death, that the majesty of the law may be respected”. But the Eighteenth Amendment is worth mentioning, because modern-day prohibitionists never feel the need to accept its lessons or even acknowledge its existence.

When Bloomberg and his deputy mayor for health are ridiculed and their volumetric crusade is ignored, whom do you suppose will end up crucified by bureaucrats in defence of their “nudge’? The logic requires it. If soft drinks really are prematurely killing thousands, and a ban on large containers is the magic answer, how far will be too far when it comes to encouraging compliance? When it comes to “nudges”, we have to recognize a distinction between what is being enforced and the means of enforcement; the mildness and restraint of the former does not guarantee that of the latter.

He also links to this wonderful piece at Hit and Run by Jacob Sullum saying “The mayor’s own pretext for the program had logical holes that Reason‘s Jacob Sullum quickly drove five tanker trucks of frappuccino through.”

QotD: Debunking the notion that today’s students face “unprecedented” challenges

Filed under: Economics, Education, History, Liberty, Quotations — Tags: , , — Nicholas @ 00:08

Far from being penalized, this generation may be the most privileged ever. Every generation lives through challenges. Our grandparents or great-grandparents lived in a society of gross social inequality and endured a world war that consumed 35 million lives. Their children came of age in the Great Depression, followed by six years of war in which another 60 million died. Their own children, the Baby Boomers, were without question a pampered generation, yet even they lived through long stretches of high unemployment and deep economic uncertainty. The oil shock of the 1970s ushered in a decade of stagflation — high inflation accompanied by stagnant growth and high unemployment — that made decent jobs no easier to nail down than they are today. The 20 years since the end of the 1980s has been a cycle of boom and bust that has seen millions of people lose homes, careers and life savings they spent decades building, often watching them vanish overnight through circumstances far beyond their control.

The notion that there was a time when anyone could coast through high school and land a nice secure career with minimal effort is sheer fantasy. Yes, a university degree carried more weight, because there were fewer of them, but that same scarcity limited the advantage to a relatively small group. The majority scratched out positions in competition with one another just as they do today. There was never, in my recollection, a bull market in sociologists, psych specialists or arts majors. A BA didn’t help you sell anything, build anything or invent anything. Entrepreneurs and self-starters never needed a university degree, and they don’t now.

[. . .]

If the 1960s and 1970s was a golden age of easy work and high pay, I missed it. If people skipped from school directly into secure jobs, happy families and a home of their own, it’s news to me. The challenges faced by youth are daunting, but no more daunting than they ever were. If Montreal’s graduates have been deprived of anything, it would appear to be lessons in history. Because they seem to have no clue how much tougher they’d have had it in almost any earlier generation they would care to choose.

Kelly McParland, “Quebec students are big on delusion, short on history”, National Post, 2012-05-31

This is why I always cheer for whoever is bidding against Toronto to host the Olympics

Filed under: Britain, Economics, Sports — Tags: , , , , — Nicholas @ 00:02

If publicly funded professional sports stadiums are bad for the local economy (and they almost always are), “winning” the bid to host the Olympic Games is far worse:

The history of the modern Olympics (and of other large-scale sporting events) reveals a consistent pattern. Organizers or local politicians in the host city commission “impact studies,” which almost always promise extravagant economic benefits. Studies performed after the event, however, find no positive effect at all — let alone one approaching the initial estimates. So it isn’t surprising that a PriceWaterhouseCoopers study commissioned by the British government forecasts that the Games would add about $9.4 billion to London’s GDP between 2005 and 2016. That seems like a large number until you realize that the London metro area’s GDP is roughly $712 billion annually. If the Games’ benefits were spread evenly throughout the decade, they would increase London’s GDP level by 0.1 percent each year.

Further, that $9.4 billion benefit pales compared with the cost of hosting the Olympics. In 2002, the UK’s Department for Culture, Media and Sport estimated that the cost would be $2.8 billion. Ten years later, London’s budget for hosting the Games is $15 billion. Costs already run above that figure and are likely to rise to approximately $38 billion, according to an investigation by the TV network Sky Sports. That would easily dwarf the economic benefits that the PriceWaterhouseCoopers study predicts. Security alone will be extremely costly: more British troops will patrol London than there are currently at war in Afghanistan. And these figures don’t count many hidden and indirect costs of hosting the Olympics — most prominently, disruption to business and traffic congestion. Traffic in London is already difficult; with special lanes for Olympics-related traffic, daily commutes will become a nightmare. (London’s transportation commissioner, Peter Hendy, helpfully advises commuters to go to the pub to avoid rush hour.)

Update, 5 June: The good news just keeps on coming for the London Olympics:

The boom to the economy that the Government hoped the Games would bring to the capital appears to become a bust with tens of thousands to tourists spurning the hiked prices, congestion and heightened security.

While bookings for July and August are down by 35 per cent on last year other European capitals appear to be prospering from London’s gloom.

French ministers, who lost the Olympic bid to Britain, might be quietly rubbing their hands with glee not only for dodging the £10 billion Games bill but also with a 50 per cent rise in tourism bookings. Similarly Barcelona and Berlin have seen their tourist numbers soar by 100 per cent over the summer.

This is an example of why, when the announcement was made that Paris had lost out on the bid for the 2012 Olympics to London, Reason titled their coverage “Lucky Paris“.

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