Category: Big Mother (page 6 of 15)

by Greg Swann

Suburban Phoenix Real Estate Broker

Author website

Take note: If you slaved away for 152 hours at an ordinary job in 1964, you could have bought yourself this classy stereo from Radio Shack:

Put in the same 152 hours in 2010, at the same kind of job, and you can buy this much stuff instead:

This is the power of (relatively) free markets. Not only can you buy more stuff, better stuff, stuff that was completely unobtainable in 1964, at the same time very smart people have figured out how to make you much more productive than you would have been in 1964.

Chances are you had almost nothing to do with this incredible productive miracle. If you are like most Americans, your major exports are half-digested junk food and bitter lamentations about the unseemly unfairness of everything for everyone, everywhen and everywhere. But this simple example, provided by The Enterprise Blog at the American Enterprise Institute, illustrates what has really been going on in your life, while you have been so busy complaining about how horrible everything is.

We are puerile as a race, about which I will have much more to say later. But even if you are thoroughly grown up in your own thinking, it’s good odds that you have spent your entire life looking at the world upside down, concentrating with a dour dread on everything that does not matter while blithely ignoring everything that does.

Do you want a very good reason to be cheerful? The world outside your mind is all but entirely wonderful, a thing of beauty and infinite splendor. It’s only that world inside your mind that is a mess. I’m thinking it’s time you cleaned house. How about you?

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by Greg Swann

Suburban Phoenix Real Estate Broker

Author website

I wrote this eighteen months ago, when this economic recession was just getting started. I looked at it again tonight and found nothing in it that I wanted to change. I have more to say on the subject of a long recession, perhaps a depression, but this is a very good place to begin to look for optimistic portents. –GSS

 
Hope and despair at the onset of economic recession: Who cares about the tunnel? All I can see is the light…

I don’t do well in despair.

Clarify that. I don’t mean that, when I find myself in despair, I fare especially badly.

What is mean is, if despair were a classroom discipline for which one could be tested and graded, I would probably flunk out.

I’ve lived through some ugly stuff in my life — who hasn’t? — but mostly I didn’t notice. I’m good at thinking — or so I like to think. And, good at it or not, I really do like to think. But I can only think about one thing at a time. For most of my time, for most of my life, I like to think about work. I like to think about what I’m doing. I like to think about what I’m getting done.

That doesn’t leave much room in my mind for despair. Or depression. Or gloom or sadness or fear or doubt or pain or worry or any of the things that people talk about when they’re not talking about work. I know about those ideas, much as I know about ideas like schadenfreude or universal guilt, things that I’ve heard about or read about but never seen from the inside.

You could say that’s my good luck, I suppose, but I’m sure it’s a choice on my part. Who hasn’t known sadness, after all? It’s not that I’ve never lived with painful emotions, it’s simply that I choose not to live with them any longer than I have to — which almost always turns out to be no time at all. I turn to my work not to escape from pain, nor even to work to alleviate it. Read more

by Greg Swann

Suburban Phoenix Real Estate Broker

Author website

From The Atlantic, an explication of economist Paul Romer’s idea to build modern-day Hong Kong-like enclaves to promote development in poverty-stricken counties:

When Romer explains charter cities, he likes to invoke Hong Kong. For much of the 20th century, Hong Kong’s economy left mainland China’s in the dust, proving that enlightened rules can make a world of difference. By an accident of history, Hong Kong essentially had its own charter—a set of laws and institutions imposed by its British colonial overseers—and the charter served as a magnet for go-getters. At a time when much of East Asia was ruled by nationalist or Communist strongmen, Hong Kong’s colonial authorities put in place low taxes, minimal regulation, and legal protections for property rights and contracts; between 1913 and 1980, the city’s inflation-adjusted output per person jumped more than eightfold, making the average Hong Kong resident 10 times as rich as the average mainland Chinese, and about four-fifths as rich as the average Briton. Then, beginning around 1980, Hong Kong’s example inspired the mainland’s rulers to create copycat enclaves. Starting in Shenzhen City, adjacent to Hong Kong, and then curling west and north around the Pacific shore, China created a series of special economic zones that followed Hong Kong’s model. Pretty soon, one of history’s greatest export booms was under way, and between 1987 and 1998, an estimated 100 million Chinese rose above the $1-a-day income that defines abject poverty. The success of the special economic zones eventually drove China’s rulers to embrace the export-driven, pro-business model for the whole country. “In a sense, Britain inadvertently, through its actions in Hong Kong, did more to reduce world poverty than all the aid programs that we’ve undertaken in the last century,” Romer observes drily.

Of course, versions of China’s special economic zones have existed elsewhere, especially in Asia. But Romer is not just arguing for enclaves; he is arguing for enclaves that are run by foreign governments. To Romer, the fact that Hong Kong was a colonial experiment, imposed upon a humiliated China by means of a treaty signed aboard a British warship, is not just an Read more