Cato@Liberty shows you the difference between free-market, laissez- faire capitalism and corporatism:

The seemingly arcane difference between laissez-faire and corporatism is one of the most important in today’s public policy debates. Laissez-faire means the equality of all before the law, with the state neither helping nor hindering any market actor. Corporatism means offering special favors to those who’ve already succeeded. (Just for starters: “Too big to fail” is corporatism.)

If only this distinction were more clearly understood by lawmakers, journalists, and the general public. Too often all of these groups just use the vague word “capitalism,” which seems mostly intended to split the difference — or to obscure it. But laissez-faire and corporatism are directly opposed to one another, and if more people on the left understood this, they might be far more sympathetic to free markets. Even, perhaps, while keeping a healthy mistrust of corporations.

Here we have a very interesting and informative article about free-markets and the economy by Matt Kibbe of the Freedom Works Foundation written for Reason Magazine:

A

s for Paulson’s desired role to become economic czar and CEO of the American economy, I recommend Hayek’s famous essay, "The Use of Knowledge in Society." Hayek says it best. “If we possess all the relevant information, if we can start out from a given system of preferences, and if we command complete knowledge of available means, the problem which remains is purely one of logic...This, however, is emphatically not the economic problem which society faces...The reason for this is that the 'data' from which the economic calculus starts are never for the whole society 'given' to a single mind which could work out the implications and can never be so given.” This is the same argument both Mises and Hayek used to dismantle the idea that socialist systems could supplant price discovery through the market process with really well-meaning, smart bureaucrats. By now, virtually everyone realizes that a full-on socialist economy brings only human misery to people, particularly to workers who don’t have access to the special favor of the political elite.

Or is that really understood? Listening to Wall Street types and their friends (from both political parties) in office, you would think that free market capitalism is fundamentally broken. Many are downright hysterical in their predictions of gloom and doom. I had read about the phenomenon, but now I actually understand what a “panic on Wall Street” really is. But it is very difficult, in the current legislative panic, to discern fact from fiction. One popular example is the assertion that capital for small businesses is “seizing up.” People I trust have told me this.

Many more people with a vested interest have asserted this. The most popular example widely used in the past few days is the claim that Sonic Drive-Ins were being denied, despite credit worthiness, needed business capital by GE Capital. Even the McCain campaign uses this talking point. It is, inconveniently, an urban myth, just like the guy that had both kidneys stolen and wakes up in an icy bathtub. According to a press statement by the company released on Monday, “GE is just one of many lenders who finance Sonic franchisees and, in fact, many franchisees maintain access to other diversified sources of financing. Furthermore, Sonic has not received any notification from GE Capital, either directly or indirectly, that it will stop financing new loans to Sonic franchisees.”

This is not to say that the economy is not in serious trouble, that capital flows are not being disrupted, or that access to credit is not a problem. The point is that the government is proposing to redistribute $700 billion dollars. That’s more than the annual GDP of Australia. With that much money on the table, expect disinformation to permeate the public debate. Some of that misinformation is intentional, but most is not. As a good Hayekian, I understand that knowledge is dispersed throughout the economy, and that good information only emerges if the discovery process is allowed to function. To put it another way, the only thing I know certainly is that I don’t know everything.

This is not an ivory-tower, think-tank point. It seems to me, during times of economic crisis, that there is an obligation to first do no harm. Should we rush to pass legislation written by tired, 25-year-old legislative staffers in the middle of the night in offices littered with Domino’s boxes and empty vente Starbucks cups? What are the inevitable unintended consequences? My biggest fear is that the plan will do far more harm than good, even in the short run, by propping up poorly performing banks at the expense of well-run institutions ready and able to come in and clean up the mess. And, yes, as Warren Buffet could tell you, they hope to make a healthy profit doing it.

We are talking about legislation that will fundamentally alter the face of American capitalism for at least a generation. Allowing investment banks to go to the government for a $700 billion line of credit is akin to inviting a vampire into the house. If you live, you certainly won’t be the same person when you wake up the next morning.

Assuming that all of the short-term problems are real, and assuming that we are headed into real economic hardship, what should we do? What would Mises do? A quote from Hayek’s Fatal Conceit is instructive: "The curious task of economics is to demonstrate to men how little they know about what they imagine they can design." (Hat Tip to economist Peter Boettke). Paulson’s audacious power grab has tainted the whole debate, crowding out a more rational conversation about how to remove real barriers to better-functioning markets. Especially after last night's dispiriting Senate vote, and the coming second round in the House of Representatives, that conversation is less likely to happen than ever.

I have to say, with my limited knowledge of economics, it seems to me that Mr. Kibbe knows what he's talking about.

This financial crisis isn't a failure of laissez-faire, free-market capitalism but a failure of corporatism.

From the Line is Here:

Really, you don’t say? Economic advantages and disadvantages that are applied through government regulation can lead to ethnic unrest? Wealth redistribution along ethnic lines makes people testy and prone to take out their frustrations on other ethnic groups?

That is just amazing!

In all honesty, it is nice to see a study that highlights this, although anyone who pays attention to African and Balkan politics and conflicts would have been able to tell you this without a study

.

More here.

The financial crisis that we're dealing with was caused by the government and their stooges.
This is why we are where we are today.


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* video embed updated 10/02/2008

*In no way, shape, or form does the Professor Politico Show endorse any of the presidential candidates (only because we haven't found one to endorse yet) or their views.

It's like they planned it this way all along.

From TheNewspaper.com:

Private companies in the US are hoping to use red light cameras and speed cameras as the basis for a nationwide surveillance network similar to one that will be active next year in the UK. Redflex and American Traffic Solutions (ATS), the top two photo enforcement providers in the US, are quietly shopping new motorist tracking options to prospective state and local government clients. Redflex explained the company's latest developments in an August 7 meeting with Homestead, Florida officials.

"We are moving into areas such as homeland security on a national level and on a local level," Redflex regional director Cherif Elsadek said. "Optical character recognition is our next roll out which will be coming out in a few months -- probably about five months or so."

The technology would be integrated with the Australian company's existing red light camera and speed camera systems. It allows officials to keep full video records of passing motorists and their passengers, limited only by available hard drive space and the types of cameras installed. To gain public acceptance, the surveillance program is being initially sold as an aid for police looking to solve Amber Alert cases and locate stolen cars.

"Imagine if you had 1500 or 2000 cameras out there that could look out for the partial plate or full plate number across the 21 states where we do business today," Elsadek said. "This is the next step for our technology."

Scary, ain't it.

From Cato@Liberty:

In a study released today by the Cato Institute, economist and Cato adjunct scholar Shirley Svorny says no:

In the United States, the authority to regulate medical professionals lies with the states. To practice within a state, clinicians must obtain a license from that state’s government. State statutes dictate standards for licensing and disciplining medical professionals. They also list tasks clinicians are allowed to perform. One view is that state licensing of medical professionals assures quality.

In contrast, I argue here that licensure not only fails to protect consumers from incompetent physicians, but, by raising barriers to entry, makes health care more expensive and less accessible. Institutional oversight and a sophisticated network of private accrediting and certification organizations, all motivated by the need to protect reputations and avoid legal liability, offer whatever consumer protections exist today.

Consumers would benefit were states to eliminate professional licensing in medicine and leave education, credentialing, and scope-of-practice decisions entirely to the private sector and the courts.

If eliminating licensing is politically infeasible, some preliminary steps might be generally acceptable. States could increase workforce mobility by recognizing licenses issued by other states. For mid-level clinicians, eliminating education requirements beyond an initial degree would allow employers and consumers to select the appropriate level of expertise. At the very least, state legislators should be alert to the self-interest of medical professional organizations that may lie behind the licensing proposals brought to the legislature for approval.

Svorny’s study is here.

The bailouts of banks, mortgage lenders, and insurance companies by the federal government will now cost American tax-payers about a half-trillion dollars. This according to Neil Cavuto of Fox News. But, according to Congressman Ron Paul, it could be considerably more.Congressman Paul rightfully points out that the best course of action by the federal government should have been no course of action at all.
Watch the video for more.

From Jacob Sullum @ Reason's Hit & Run blog:

Yesterday the Washington Supreme Court ruled that the state's smoking ban applies to private clubs as well as businesses open to the general public. Washington's Clean Indoor Air Act, passed in 1985, exempts "private facilities which are occasionally open to the public except upon the occasions when [they are] open to the public." An initiative approved by voters in 2005 broadened the ban to cover "places of employment." American Legion Post 149 in Bremerton challenged the Kitsap County Board of Health's attempt to stop its members from smoking at the post home, where all seven employees are relatives of members and all but one smoke, arguing that the exemption for private facilities remained in force. A five-judge majority of the state Supreme Court disagreed. Four judges dissented, with one of them, Richard Sanders, concluding

that if the majority's interpretation of the law is correct, the law is unconstitutional:

I would hold the Act does not apply to the Post Home as a private facility. Alternatively, if the Post Home's status as a private facility does not limit the Act's application, I would hold the Act is void for vagueness; unduly interferes with the Post Home's right of intimate association; violates the Post Home's substantive due process rights absent actual proof of a real and substantial relation between secondhand smoke and workplace dangers; and violates equal protection by distinguishing between two classes of business without reasonable grounds.

Just more government control to keep the sheep in line.
Read more here.

(Thanks to Cato-at-Liberty)
For more visit the above link.

Four years ago The Slate dropped this Little Nugget and the info still holds true: Your Vote Does NOT COUNT. (Basically.)
For better odds, play Lotto.

It seems to me that some people still haven't realized that people will move away from higher tax hellholes, moving out to the suburbs or even, in some instances, out of the State completely.

From TaxProf Blog:

A California activist is trying to gather the 694,354 signatures needed to place a tax initiative on the ballot that would:

• Impose a new 35% income surtax (in addition to federal taxes and the existing 10.3% top state rate) -- 17.5% (on all of the taxpayer's income) when income exceeds $150,000 (single)/$250,000 (joint), and an additional 17.5% (again, on all of the taxpayer's income) when income exceeds $350,000 (single)/$500,000 (joint).
• Impose a one-time 55% wealth tax on assets exceeding $20 million held by a California resident or held in California by nonresident.
• Impose an exit tax of between 36.5% to 54.3% on both income and unrealized appreciation in asset values over $5 million when a resident dies or leaves California

From ABCNews.com:

People are (or will be) having sex all around America today. But that's nobody's business. Sex is a private matter, right? Except that local authorities sometimes say it is their business.

Read the rest of this excellent article by John Stossel and Patrick McMenamin here.

From the movie's website:

Based on the short story Harrison Bergeron by celebrated author Kurt Vonnegut, 2081 depicts a dystopian future in which, thanks to the 212th Amendment to the Constitution and the unceasing vigilance of the United States Handicapper General, everyone is finally equal... The strong wear weights, the beautiful wear masks and the intelligent wear earpieces that fire off loud noises to keep them from taking unfair advantage of their brains. It is a poetic tale of triumph and tragedy about a broken family, a brutal government, and an act of defiance that changes everything.

Everyone needs to see this movie when it is released. Watch the trailer here.

From Jacob Sullum @ Reason's Hit & Run Blog:

On Tuesday the city council of Helena—West Helena, Arkansas, unanimously gave police the authority to impose a 24-hour curfew on any part of the city. A.P. reports that a 24-hour curfew already has been in effect in one especially crime-ridden neighborhood of the town for a week. (Doesn't that make it a 168-hour curfew?) So far the curfew has resulted in 32 arrests, mostly for misdemeanors. Although police, who are armed with "military-style M-16 or M-4 rifles, some equipped with laser sights" as well as "short-barrel shotguns," could arrest people simply for leaving their homes

More here.

And speaking of Oil prices.

From ScrappleFace:

When the U.S. Supreme Court reconvenes on the first Monday in October, the nine Justices may consider whether the Constitutional preamble clause “secure the Blessings of Liberty to ourselves and our Posterity” guarantees an individual right to drill for oil.

More here.

Here's a question for all you folks out on the tubes: If you own a piece of property, do you have the right to drill for oil on your property, or for that matter do anything you please with that property? If so, why?

From the NY Times:

A couple of years ago, a Canadian magazine published an article arguing that the rise of Islam threatened Western values. The article’s tone was mocking and biting, but it said nothing that conservative magazines and blogs in the United States do not say every day without fear of legal reprisal.

The British Columbia Human Rights Tribunal will soon rule on whether the cover story of the October 23, 2006, issue of Maclean’s magazine violated a provincial hate speech law.

This series of articles examines commonplace aspects of the American justice system that are actually unique in the world.

Things are different here. The magazine is on trial.

Two members of the Canadian Islamic Congress say the magazine, Maclean’s, Canada’s leading newsweekly, violated a provincial hate speech law by stirring up hatred against Muslims. They say the magazine should be forbidden from saying similar things, forced to publish a rebuttal and made to compensate Muslims for injuring their “dignity, feelings and self-respect.”

The British Columbia Human Rights Tribunal, which held five days of hearings on those questions here last week, will soon rule on whether Maclean’s violated the law. As spectators lined up for the afternoon session last week, an argument broke out.

“It’s hate speech!” yelled one man.

“It’s free speech!” yelled another.

In the United States, that debate has been settled. Under the First Amendment, newspapers and magazines can say what they like about minorities and religions — even false, provocative or hateful things — without legal consequence.

The Maclean’s article, “The Future Belongs to Islam,” was an excerpt from a book by Mark Steyn called “America Alone” (Regnery, 2006). The title was fitting: The United States, in its treatment of hate speech, as in so many other areas of the law, takes a distinctive legal path.

More here.
This is one of the many things that makes America and Americans exceptional.
Americans take a very individualistic view towards our rights ( there's one exception that comes to mind, but that's for another time), especially our rights to free speech. We believe in the Marketplace of Ideas and that for the most part good ideas are the ones that are the most widely adopted.
The article is a little ambiguous as to what the author's stance is regarding free speech, but seems pretty balanced as far as I can tell. But then again that's up to you to decide.

Oh, and just for the record, I am not a fan of the NY Times. Their reporting is entirely too slanted and has a definite liberal bias. And they've endorsed the restriction of speech in the past when they supported the McCain/Feingold campaign finance reform legislation.

Which would explain my surprise when I read the above article.

Then again, the NY Times has been known to do some decent reporting in the past.

Here's hoping that the Times can become the unbiased and reliable news source they've always claimed they were.

The Internet, that miraculous series of tubes, is a wonderful, relatively new platform that allows everyone to have a voice, much like in the days of yore when news was spread by word-of-mouth. To date, the Internet has remained blissfully free of government regulation. Its backbone resting in the private sector, requiring no licensing for use, and is seemingly beyond the reach of those who would like government regulation of online behavior such as "hate" speech, obscenity, and too much control by a few corporations.

So everyone should be thrilled that the Internet can deliver unprecedented levels of free speech, right?

Maybe not.

From Pajamas Media:

In a recent editorial, the NY Times welcomed federal regulation of the Internet under the benign-sounding cause “net neutrality,” warning us that Internet service providers might suppress ideas they do not like. The Times ignores the fact that the First Amendment is designed to protect us
against suppression of ideas by the government, not the private sector, which has neither the power nor the motive to suppress ideas.

Moreover, as the Las Vegas Review-Journal tells us, “Net neutrality is a solution in search of a problem.” It has not been given a chance to surface, much less an opportunity for the marketplace to fix this hypothetical problem. It is a weak reason to allow the irreversible step of government regulation.

Another party that is uncomfortable with free speech on the Internet is the Orwellianly-named group “Free Press.” They are pushing for the FCC to regulate the Internet similar to the way it regulates broadcast TV, calling for a national (read “government”) broadband policy to regulate price, speed, and availability. They also want the government to provide municipal broadband service to everybody, even though this model has already collapsed in the marketplace.

And of course, the U.N. and its many dictatorships is no fan of free speech on the Internet. Last November, the United Nations’ Internet Governance Forum (IGF) held its second annual meeting with a not-so-hidden agenda for a U.N. takeover of the U.S.’ private sector control of core Internet systems.

More here.

Angry Renter is a grass roots campaign created by Freedom Works to oppose the corporate welfare that's being handed out to bail out mortgage companies that made bad or stupid decisions.


From the Angry Renter website:

You know a web site is making a difference when the Wall Street Journal publishes a hit piece on the front page!

We don't find it particularly shocking that a grassroots group working for limited government would launch a grassroots petition opposing a government housing bailout...but hey, we're not in the newspaper business.

We're not sure how a reporter can call this effort "fake" or "astro-turf" when we've put our name on every page and when over 48,000 real people have voluntarily visited and signed the petition.

FreedomWorks was founded back in 1984 and we're headquartered in Washington, D.C. We're based in D.C. because we fight for taxpayers and Washington, D.C. is where they pass the laws and spend trillions of your tax dollars every year. We are a non-profit organization chaired by former House Majority Leader Dick Armey with over 20 staffers across the country. Like every non-profit organization, from Sierra Club to the AARP, we respect the privacy of our donors and do not disclose them.

More here.

And From the Wall Street Journal:

AngryRenter.com looks a bit like a digital ransom note, with irregular fonts, exclamation points and big red arrows -- all emphasizing prudent renters' outrage over a proposed government bailout for irresponsible homeowners.

"It seems like America's renters may NEVER be able to afford a home," AngryRenter.com laments. The Web site urges like-minded tenants to let Congress feel their fury by signing an online petition. "We are millions of renters standing up for our rights!"

Angry they may be, but the people behind AngryRenter.com are certainly not renters. Though it purports to be a spontaneous uprising, AngryRenter.com is actually a product of an inside-the-Beltway conservative advocacy organization led by Dick Armey, the former House majority leader, and publishing magnate Steve Forbes, a fellow Republican. It's a fake grass-roots effort -- what politicos call an AstroTurf campaign -- that provides a window into the sleight-of-hand ways of Washington.

More here.

Here we go. Maybe the calendar should be set back to 1984.

From Global Research:

In the wake of Senator Joseph Lieberman (I-CT) and Susan Collins' (R-ME) alarmist report, "Violent Islamist Extremism, the Internet, and the Homegrown Terrorism Threat," the Senate may be moving towards passage of the Orwellian "Violent Radicalization and Homegrown Terrorism Prevention Act of 2007" (S. 1959).

A companion piece of legislative flotsam to the House bill, "The Violent Radicalization and Homegrown Terrorism Prevention Act of 2007" (H.R. 1955), the Democrat-controlled Congress seems ready to jettison Constitutional guarantees of free speech and assembly. The bill passed the House by a 404-6 vote in October. Twenty-three congress members abstained, including House Speaker Nancy Pelosi and House Judiciary Chairman John Conyers.

More here.

When will politicians, and the people who vote for them, learn that the more you regulate something the harder you make it for honest, law abiding citizens to function as honest, law abiding citizens? Just look at gun control or the licensing requirements in some states for cosmetologists. I'm just saying.

I just finished reading Little Brother by BoingBoing.net's very own Cory Doctorow, and I must say I was floored by the by the scope of this "young adult" book.

This is some of the best near-future sci-fi I've read in a very long time. The political tone of the book and the ideas about how technology enriches the lives of those who use it and transparency in government are extremely thought provoking.

I would recommend to anyone, even those over 25 (wink,wink), to go out right now and buy the book.

Believe me, you will not be disappointed.