Friday, September 30, 2011

George Will

"Free" Enterprise is basically the FREEdom to pursue one's own self-interests, which usually entails including the satisfaction of others.
When the all-knowing, beneficent, paternalistic nanny-state gov't comes along to 'protect' us, what happens to "FREEdom"?
George Will

Tuesday, September 27, 2011

Opportunity Costs and Sacrifice (not scarcity)

Why would an individual pledge his life to defend an abstract principle?  What are the trade-offs faced by the individual?  These are as much economic decisions as any other decision.  Money is not economics.  Decisions are.

Monday, September 26, 2011

Star Parker on Black Unemployment solution

Star Parker, hardly an unbiased wall-flower, does have several great points to make.  The points she brings up, with few exceptions, have been proven to work.  The problem?  The solution cannot be tailored into a "Look, the Government solved it!" media sound bite, that promotes certain politicians at re-election time.  Adam Smith's invisible hand would be at work, and that doesn't make for a great bad news story the mainstream media likes so much.

Her second to last paragraph is the most telling.  The self-selection bias of individuals who pursue certain career paths brings us to an almost pre-ordained result.  Too bad.

I invite your comments and analysis.

http://townhall.com/columnists/starparker/2011/09/19/target_black_unemployment_with_enterprise_zones

Thursday, September 8, 2011

JOBS...Jobs...jobs... (not Steve)

Thursday night, before the kick-off of America's most popular professional sport (Green Bay Packers v New Orleans Saints) , Obama will attempt to claim the spot light.  He will give an address to a joint session of Congress, meeting in the House of Representatives.  The speech is ostensibly about jobs, and his proposal of a $300,000,000,000.00 additional spending infrastructure program.  Every dollar is to create jobs.  That's the problem.  From Romney on the Republican side with his buddy Perry, to Obama and too many others, it is always about jobs, jobs, jobs.  "Where's my job?"  "I want a job!"

Jobs are not supplied by businesses, contrary to the obvious intent of the aforementioned points.  Jobs are certainly not to be provided by government (examples are too pervasive to list in 'corrupt' countries of nepotism and back-room deals).  A job is what one holds down when WORKING for a business, helping it produce goods or provide services that are sold above cost resulting in a profit for the firm.  Our political culture, and its lap-dog media (CNN, MSNBC, FOX, et.al.) have foisted this world-view of jobs as a commodity to be produced and consumed by households like it were a car or bag of Doritos.

There is the obvious impact upon the psychology of the individual who is out of work looking for a position that will pay him.  Instead of the perspective of seeking employment, or "finding work", he is looking for a job.  See the difference?  "Work" is a nasty word in 21st Century America.  It implies sweat, inconvenience, and sacrifice of one's precious leisure time.  A job on the other hand, it is that consumable commodity, and to no small degree, a status symbol as significant as a Lexus is to personal transportation.  So, the individual looking for work is selling his services, expertise, abilities to the company in turn for a wage.  The person who want a job is not much different in perspective than the lady pushing the shopping cart down the aisle of the grocery store looking for a deal on stewed prunes.  And yes, it is just as attractive a proposition to the prospective employer to see so many people apply to get their job instead of coming to find work and produce.

Time to get to work, America.