Venezuelan Madness, Radical GOP, Rethinking Economics, No Central Bank Insurance
What I’m listening to.
The only question now is whether Venezuela's government or economy will ... collapse first.
Quote -- “When a person goes to a shop and finds that prices have gone up," the new [Economy and Productivity Minister Luis Salas] wrote, "they are not in the presence of 'inflation,' " but rather "parasitic" businesses that are trying to push up profits as much as possible.”
RINO -- Republican In Name Only
Everybody told everybody early in this year’s presidential campaign (during what was called Trump Summer) that we had never seen anything so sinisterly or hilariously (take your choice) new.
Quote -- “To accept Enlightenment values—reason, facts, science, open-mindedness, tolerance, secularity, modernity—is to lower one’s guard against evils like evolution, concern about global warming, human equality across racial and sexual and religious lines—things Republicans have opposed for years and will not let their own members sell out to.”
Until very recently, one of the biggest challenges facing mankind was making sure there was enough to eat.
Two heavyweights show how markets can turn against the unsuspecting.
Quote - “Why do shops accept cards when it is so costly? One study found that credit-card firms charge convenience shops fees that amount to over twice their profits. But cards also trick people into spending more than they really want to.”
No room to rise.
Limits to spending growth financed by debt and money raises risks of policy ‘pushing on a string’.
Quote -- “[T]here are limits to spending growth financed by a combination of debt and money. When these limits are reached, it marks the end of the upward phase of the long-term debt cycle.
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Twin Virtues: Inequality of Outcomes & Equality of Opportunity©
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.