But that old notion of “lower wages but better pensions” for public service work has gone the way of the buggy-whip industry. Now, public servants get better wages, much better pensions, and generally much more generous benefits. Even through the recession, federal and provincial wages continued to outpace those in the private sector:
Both images are details from this National Post graphic.
The US Army and USMC like the latest combat helmet even more than they liked the next-most recent improved model:
The U.S. Army and Marine Corps have found that their new Enhanced Combat Helmet (ECH) is even more bullet proof than expected. While testing the ECH, it was discovered that the machine firing metal fragments at the ECH (to represent shell and bomb fragments) could not fire fragments fast enough to penetrate. The ECH was supposed to be invulnerable to pistol bullets, and it was, but some types of metal fragments were expected to still be dangerous. So ECH was tested to see how well it could resist high-powered rifle bullets. ECH was not 100 percent invulnerable, but in most cases, it would stop anything fired from a sniper rifle. Overall, it was calculated that the ECH was 40 percent more resistant to projectiles and 70 percent stronger than the current ACH helmet.
The ECH is made of a new thermoplastic material (UHMWP, or Ultra-High Molecular Weight Polyethylene). It is lighter and stronger than the Kevlar used in the ACH and earlier PASGT and, it turned out, provided much better protection as well. The ECH will begin replacing the current ACH later this year, with 200,000 being eventually purchased. The ECH costs $600 each, twice as much as the ACH. But for troops under fire, the additional cost is well worth the additional protection.
Combat helmets, which appear to be low-tech, have been anything-but over the last three decades. Advances in the design and construction of helmets have been accelerating, especially in the last decade. For example, the current ACH (Advanced Combat Helmet) recently underwent some tweaks to make it more stable. That was required because more troops are being equipped with a flip down (over one eye) transparent computer screen. The device is close to the eye, so it looks like a laptop computer display to the soldier, and can display maps, orders, troop locations or whatever. If the helmet jumps around too much, it’s difficult for the solider to make out what’s on the display. This can be dangerous in combat.
The Browser interviews Victor Shih:
What do people get most wrong when they think of the Chinese economy?
The biggest misperception about China is that it’s a dynamic market economy — it isn’t. It’s a fast-growing, state-dominated economy with some dynamic, private-market aspects. If you look at investment, a main driver of growth, much of it is going to state-owned enterprises (SOEs) or shareholding companies dominated by state entities. Or it’s going directly to government investments carried out at a central or local level. The misperception has abated recently following Richard McGregor’s book on the Chinese Communist Party. People are realising that the party is still behind much of what happens in China.
[. . .]
Your first choice is Yasheng Huang’s Capitalism with Chinese Characteristics. I believe this book successfully demolishes the idea that China is developing a new economic model called ‘market authoritarianism’.
I think Yasheng goes a little too far with some of his claims. But the broad outline is correct. There was a period of healthy organic growth in the 80s, driven by the de facto private sector. Many township and village enterprises were collectives or owned by the local government. But in reality they were private enterprises. This changed in the mid-90s, especially with the adoption of the ‘grasping the large and letting the small go’ policy that circumvented the special interests in the state sector. When Deng Xiaoping was alive, his executive vice premier, Zhu Rongji, wanted to bankrupt or merge many of the smaller state-owned enterprises into larger ones. It was a political tactic to further reform. And it worked.
The problem was that it created these giant, state-owned enterprises. Recent statistics reveal the state sector made a profit of 2 trillion renminbi last year, of which the 122 largest SOEs made 1.35 trillion. They have combined assets of over 10 trillion dollars and have become an enormously resourceful and powerful interest group. Their CEOs have numerous ties with top political leaders and sit on the party’s central committee. Most bank loans, issued bonds and stock-listing proceeds in the system go to these conglomerates. There’s still a private sector but it has been squeezed tremendously, especially in the last two years.
[. . .]
Most investment bankers like to talk things up, but that’s not something we can accuse Carl of doing.
By the late 90s, China’s banks were technically insolvent because the non-performing loans ratio was 40 to 50 per cent. Carl’s still a big fan of Zhu Rongji, the former prime minister. One of Zhu’s greatest achievements was to ‘solve’ the problems in the banking sector by setting up asset-management companies and recapitalising the banks. Today, of course, the banks are still lending very recklessly despite a lot of reform — the formation of credit and risk-management committees, for example. The banks continue to require bailouts and recapitalisation from the Chinese government, which props them up so that they can sell these bank shares to the public in Hong Kong or Shanghai. Carl sees this process as a kind of Ponzi scheme.
According to a recent study, piracy in Australia has become the biggest industry: one third of all Australians are accused of piracy in the last twelve months.
The study, released by the Australian Federation Against Copyright Theft, claims that piracy sucks $A1.37bn out of the Australian economy.
Direct effects claimed by AFACT amounted to $A575m, the study claims — including $A225m attributed to “secondary piracy”, in which an individual either “views or borrows” pirated material (presumably whether or not the viewer knows the full legal status of what they’re watching).
[. . .]
The economic multiplier effects, for those willing to get past the press release, include reduced spending on recreation, clothing, housing and household goods. So, freetards, hang your heads in shame: not only were more than 6,000 jobs lost due to piracy, but the victims of your crime are now homeless, naked, hungry and bored.
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