Quotulatiousness

April 25, 2018

Hugo Gernsback – Pulp! Amazing Stories – Extra Sci Fi

Filed under: Books, History, Media, USA — Tags: , , — Nicholas @ 06:00

Extra Credits
Published on 24 Apr 2018

Sci fi “pulp” stories sometimes have a reputation for being cheesy and over-dramatic, but they were extremely important for building up the sci fi genre as something *anyone* could write for AND get paid for — not just famous authors.

Ontario’s ongoing guaranteed annual income experiment

Filed under: Cancon, Economics, Government — Tags: , , , , — Nicholas @ 05:00

Finland may have given up on their guaranteed annual income pilot, but Ontario’s similar program is still getting positive reviews from GAI fans like Andrew Coyne at the National Post. Colby Cosh isn’t quite as impressed with the program or the chances of it being expanded beyond its current small scale:

The Ontario plan is giving randomly selected low-income working-age individuals $16,989 a year in free money. That’s the basic story, with the detail that couples are eligible for a combined $24,027. This amount replaces provincial welfare, employment insurance, or early Canada Pension Plan payments, dollar-for-dollar; Canada Child Benefit cheques are strictly separate, however, and if study members go out and earn some income, their payment is reduced by 50 cents for every dollar they make until the supplement hits zero.

This is the “negative income tax” model of guaranteed income, intellectually pioneered by the Austria-Mont Pelerin-Chicago strain of economic thought that is my personal heritage and Coyne’s alike. The conclusion of the PBO paper is that the total cost of such a program for the entire country, applied to this year’s economy, would come to about $76 billion.

[…]

Kevin Milligan, a UBC economist who is skeptical of GAI, often points out that GAI advocates face the challenge of reconciling three conflicting elements of such a program: we want it to have a reasonable overall cost, we want it to be generous enough to bother with, and we want it to impose a low “clawback” rate on earned income so as not to discourage that.

The “Ontario model” sort of resolves the “trilemma” by being soggy on all three fronts. The $17,000 basic amount was chosen specifically to come to 75 per cent of Statistics Canada’s “low-income measure”: it is a guaranteed not-even-low income. (At the same time, I notice that the basic personal exemption on federal income tax forms is just $11,809 this year. Before we hurl ourselves headlong at a new social program of a relatively untested nature, maybe we could explicitly just stop taxing the poor first?)

Three points of GST may seem like a reasonable overall cost, if it could be realized, but an entitlement such as this is bound to be a one-way street: by the time we decide we do not like the effects, it will have become the next thing to a sacrament. (Canada’s guaranteed federal income defines us as a country!) Meanwhile, the 50-per-cent clawback in the Ontario model is fairly dramatic, and, moreover, under the model, couples who begin cohabiting would stand to lose up to $10,000 a year of GAI payments between them.

Tank vs. Tank: Villers-Bretonneux, April 1918 | The Tank Museum

Filed under: Britain, Germany, History, Military, Technology, WW1 — Tags: , — Nicholas @ 04:00

The Tank Museum
Published on 20 Apr 2018

100 years ago, during the First World War, tank fought tank for the first time in history, at Villers-Bretonneux on 24 April 1918.

It was an engagement that foreshadowed one hundred years of tanks fighting tanks on the battlefield, stories told by The Tank Museum.

Please give generously to help fight Cleese’s Disease

Filed under: Britain, Humour, Media — Tags: , , — Nicholas @ 03:00

James Delingpole is doing everything he can to fight this awful ailment:

Today I am launching an appeal on behalf of a former British comedian called Robert Webb.

Unless you live in the UK you probably won’t have heard of him. But in his day he was very funny – first as part of the double act Mitchell and Webb, later in the even funnier series Peep Show (which really was much better than the travesty of a U.S. remake, honest).

Anyway, sadly, those days of being funny are long behind him. Poor Webb has fallen victim to a disease which has ravaged the global comedic community so cruelly and on such a scale that it could probably provide Tony Kushner with enough material to write another Pulitzer Prize-winning play.

This disease comes in several ugly mutations.

There’s the basic form – Cleese’s Disease – where you started out funny but you haven’t been for years because you now take yourself far too seriously.

There’s Schumer-Degeneres Syndrome, where you probably weren’t that funny to start with but you’re definitely even less funny now that you’ve become obsessed with hating your own white privilege.

There’s Linehan Complex, where your youthful frivolity has mutated into hideous arrogance and bitterness and extreme self-righteousness which leads you to lash out viciously on social media at anyone who doesn’t share your impeccably woke SJW politics.

Robert Webb, poor chap, has managed to contract all three variants of the disease at once.

Chris Schwarz’ Campaign Chair – Pared Down!

Filed under: Tools, Woodworking — Tags: , — Nicholas @ 02:00

Popular Woodworking
Published on 3 Apr 2018

Watch the original (but much cooler) portable picnic chair come together in record time. As if Chris wasn’t already moving at lighting speed! Watch the whole video here: http://bit.ly/CampaignChair

QotD: The “white magic” of the market process

Filed under: Economics, Quotations, Technology — Tags: , — Nicholas @ 01:00

Leonard Read explained what he called the “white magic” of the market process in his justly praised article “I, Pencil.” No one knows how to make an ordinary pencil; no one can ever know how to make a pencil. And yet pencils are produced in such huge quantities that they are virtually free for the taking. We have pencils not because some one person planned from the beginning the cutting of cedar trees, the mining of graphite, alumina, and bauxite, the extraction of petroleum and clay, or the organization of transportation to get supplies to pencil factories and pencils to retailers. When you contemplate the enormousness of all the tasks that are required to make a single pencil, you understand that no one can know how to do more than a tiny fraction of these tasks.

We have pencils (along with indoor plumbing, electric lighting, microprocessors, disposable diapers, camcorders, concert halls, …) only because for each of the countless tasks required for the production and distribution of each good there are a few people who specialize in knowing how to perform these tasks. But no one knows — or can know — how to perform all of the tasks required to produce even the most commonplace of goods. The free market works as well as it does because, when property rights are respected and fully transferrable, the resulting prices tell each of the producers at the innumerable different production “sites” just what (and how much) to produce and with what particular combination of resources.

For example, if the supply of crude oil falls, the resulting higher price will prompt manufacturers of paint to produce less petroleum-based paints and more linseed-oil or water-based paint. The resulting higher price of petroleum-based paints will prompt pencil manufacturers to paint fewer of their pencils with petroleum-based paints and more of their pencils with paints made of substances other than petroleum. As F. A. Hayek taught, the pencil manufacturer need never know why the price of petroleum-based paint rose; all that is required for this manufacturer to act appropriately is for him to conserve on his use of petroleum-based paint. The higher price of such paint achieves this goal.

Don Boudreaux, “A Pitch for Humility”, Café Hayek, 2016-08-05.

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