Quotulatiousness

March 26, 2012

Stephen Gordon: financial headlines you’ll never see

Filed under: Cancon, Economics, Media — Tags: , , , — Nicholas @ 08:00

In the Globe & Mail Economy Lab column, Stephen Gordon points out the monotonous message we get from our financial news sources every time a foreign company buys a Canadian firm:

Here is a headline that will never, ever run over a foreign takeover story: “Foreign buyers taken to cleaners by savvy Canadian investors.”

The reason you will never see that sort of a headline is that all stories in which foreigners buy Canadian-owned assets are based on the assumption that foreign investors are — yet again! — snapping up Canadian-owned assets on the cheap, and why oh why won’t Ottawa intervene and put a stop to it? The notion that Canadian investors are fully capable of assessing the value of their holdings and that they might earn a tidy profit in selling them never seems to make an appearance in these accounts.

July 9, 2010

Matt Ridley on the onrush of DOOM!

Filed under: Environment, History, Media — Tags: , , , , , , — Nicholas @ 09:15

Matt Ridley is about the same age as I am, and he clearly heard all the same warnings, predictions, and prophecies of doom that I heard when I was a teen:

When I was a student, in the 1970s, the world was coming to an end. The adults told me so. They said the population explosion was unstoppable, mass famine was imminent, a cancer epidemic caused by chemicals in the environment was beginning, the Sahara desert was advancing by a mile a year, the ice age was retuning, oil was running out, air pollution was choking us and nuclear winter would finish us off. There did not seem to be much point in planning for the future. I remember a fantasy I had — that I would make my way to the Hebrides, off the west coast of Scotland, and live off the land so I could survive these holocausts at least till the cancer got me.

I am not making this up. By the time I was 21 years old I realized that nobody had ever said anything optimistic to me — in a lecture, a television program or even a conversation in a bar — about the future of the planet and its people, at least not that I could recall. Doom was certain.

The next two decades were just as bad: acid rain was going to devastate forests, the loss of the ozone layer was going to fry us, gender-bending chemicals were going to decimate sperm counts, swine flu, bird flu and Ebola virus were going to wipe us all out. In 1992, the United Nations Earth Summit in Rio de Janeiro opened its agenda for the twenty-first century with the words `Humanity stands at a defining moment in history. We are confronted with a perpetuation of disparities between and within nations, a worsening of poverty, hunger, ill health and illiteracy, and the continuing deterioration of the ecosystems on which we depend for our well-being.’

And as we all know, it all came true . . .

Ridley’s latest book is The Rational Optimist, which I thoroughly enjoyed reading. I didn’t always agree with it, but it was refreshing reading material. Recommended.

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