Inflation

Paul Summerville • April 1, 2016

What I’m listening to.

J.S. Bach: Violin Concerto No.1 In A Minor, BWV 1041 - 2. Andante

More on inequality.

Economist -- The new wave

Surprisingly little is known about the causes of inequality. A Serbian-American economist proposes an interesting theory.

Paul Summerville • March 7, 2013

Commentary on the public service of free blogs, an inflation adjusted DOW doesn’t look so good, Uncle Joe re-examined, rules bound, indestructible capitalism, and suffocating an island.

Tell me about it.

Paul Summerville • December 18, 2012

Commentary on more of the same in the bond market, PIMCO’s el-Erian on investing in 2013, our economic challenges are structural not demand, people the Japanese printing presses, America’s in a recession right now, Obama’s victory, and the Tories would win even with NDP-Liberal alliance.

If we could only know when it blows up.

Paul Summerville • August 1, 2012

Commentary on Charles Dickens, Much Ado About Nothing in Victoria, bankrupting students, Bill Gross warns about the risk of inflation in our future, and China in a global hunt for energy assets.

Recently I saw a movie of Dickens’ Nicholas Nickleby (circa 2002)  and while the tight coincidences that the author uses to move the plot along and bring conclusion to all the parallel dramas does stretch belief, still the colour of the characters is wonderful.

Paul Summerville • June 15, 2012

Commentary on the end of the Arctic, the BP energy bible, US fiscal cliff, avoiding a bad European marriage, Europe’s liquidity problem, what prices are rising in the US, and Justin.

The melting away of the Arctic. Thanks to Charley of Toronto.

Economist -- The vanishing north
There are benefits in the melting of the Arctic, but the risks are much greater.

Quote worth noting.

Paul Summerville • January 31, 2012

Commentary on capitalism, Canadian banks, disruptive technology in the publishing business, how innovation works, the Iran problem, and the price of beef.

The hand wringing about capitalism as being too hot – the Washington consensus – or too cold – where the state dominates – misses the truth that ultimately the most sustainable communities, national and global, find the balance between the twin virtues of inequality of outcome and equality of opportunity.

Paul Summerville • November 21, 2011

Commentary on the impossibility of Europe’s situation, war close up, preventing blindness, grocery costs, a glimmer of light shines on a terrible place, and Peter Newman’s terrible prediction.

Yes, Virginia, it’s a mess. At this busy time, thanks to David of Victoria for sending in so much premium material.

Pdf below -- John Mauldin – Thoughts

Related.

Paul Summerville • August 9, 2011

Articles on the incompatibility of social justice and capitalism, reacting to the downgrade, David Rosenberg answers his critics, watch the President pivot to jobs, Kenneth Rogoff on the bullets yet to be fired like 6% inflation, and travel notes - sleepless in Seattle.

Paul Summerville • July 28, 2011

Articles on voodoo economics, when an idea becomes true, mathematical beauty, reflections after 11 years of reporting on the US economy, remaining hopeful on US debt default, in Europe the kids aren’t all right, an expensive Alabama haircut, George Soros’ exit, hard evidence of the bubble in gold, Chinese inflation explained, and about beards.

George Bush the first President had it right.

Paul Summerville • July 10, 2011

Articles today on a special art exhibition on China, Jerusalem’s divide, art discovery, the slow grind of post-tsunami reconstruction, John Mauldin’s riff on America’s persistent employment problem, the Republican’s shameful economics, Africa’s IT boom, bad market news, and two important women.

Ken of Tokyo/London encourages anyone in London, England to visit the art exhibition Lost in Transformation.

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Twin Virtues: Inequality of Outcomes & Equality of Opportunity©

Twin Virtues

Ultimately, the most successful societies find the balance between the twin virtues of inequality of outcomes and equality of opportunity.

The new politics must marry the twin virtues of unequal outcomes and equality of opportunity.

When too few get too much everybody loses.

Feminism is about women living their lives on their own terms, marshalling the resources of the society to make that possible, and men embracing this as vital to a successful society and their own liberation.

Can it be that striving for equality of opportunity however imperfect the process not only benefits the individual but also creates benefits for the society that are unintended but wonderful?

Economics must be a 'moral enterprise' as much as politics claims to be. Economic outcomes need to be framed in terms of right and wrong not just efficiency if only because these often align in surprising ways that are good for society and the economy.

My vision of Canada is that any Canadian child from a family of limited circumstance can expect to have a chance at lifetime of unlimited opportunities.

Free trade is a wonderful thing. Time and time again economists have proven that free trade creates enormous wealth for each country 'on the whole'. Historians have shown that free trade is usually associated with rising political, social and cultural liberty. The perennial problem is that free trade always creates tremendous disruption for thousands even millions of individuals often concentrated in one geography, and where the state is idle, not investing in best in class instruments of social justice, free trade can be a permanent ticket out of the middle class, down, not up.

Tax policy should be founded on the principle of generating steady tax revenues sufficient to maximise environmentally sustainable economic growth in order to fund fair government.

Public policy should be designed to decrease inequality before the law and increase equality of opportunity.

Capitalism is not the problem; the problem is what we do with capitalism.

Content is always more difficult to argue than conspiracy.

Let the state regulate and the market operate (most things).

Welfare strategies are best designed as a hand up, not as a hand out.

Political debate should not be fact free fighting.

Explanation lasts longer than eloquence.

Always favour empowerment over dependency.

The most enduring public figures are embraced for the causes they fought for and not the concept of themselves they hoped others would remember them by.

Find your voice and don't be the echo of somebody else.

It is possible to operate on two different levels: the practical, cautious and conservative; and the realm of ideas, open, free, and radical.