Efficiency vs. Equality

They tell us that only a “managed economy” for intellectual “property” will preserve jobs, and that more “freedom” will actually lead to slavery, that roving bands of pirates are living it up like drug barons on movie downloads. They explain how they need the senate to grant them special, temporary powers to download the contents of your phone or laptop when you cross the border, they explain why they need to send violent special forces police to arrest and extradite the owners of a file downloading business, they explain why they need to monitor the entire world’s tweets looking for jokes in poor taste.

We are, I think, at the beginning of Act III. Some of you will agree with me that surrender is a perfectly acceptable alternative in extreme circumstances. But others will climb into their trusty ships and continue the fight, harassing and wounding the entrenched interests until the whole thing collapses under the weight of its own corruption. The future of our economy really does depend on the rebels succeeding. At every point in the last forty years, wealth, health, and happiness in our economy has been built on the freedom to disrupt the entrenched powers, not the preservation of their rent-seeking monopolies.

More jobs and businesses have been created by VCRs than destroyed by them. More jobs and businesses have been created by the breakup of AT&T than destroyed by it. More jobs and businesses have been created by the decline of IBM than lost in Armonk. More jobs and businesses have been created by the stagnation of Microsoft than lost in Redmond. And it will be the same with the RIAA, the MPAA, Intellectual Ventures, and everyone else scheming to enthral the people with digital “rights” management and criminal prosecution of “file sharing.” In the destruction of the monopolization of ideas, lies the seeds of another revolution, one that will bring wealth, freedom, and jobs.

Rebels, may the force be with you. Always.

Nobelist Gary Becker concludes:

The real threat to a robust recovery on the labor side has come from employer and entrepreneurial fears that once the economic environment improves, a Democratic Congress and administration will pass pro-union and other pro-worker legislation that will raise the cost of doing business and cut profits. In this way the obvious pro-union-pro-worker bias of the present government has contributed to a slower recovery, especially in labor markets.

What if voters are more likely to admit their tolerance for marijuana to an automated script, which may create the feeling of greater anonymity?

I was surprised to read that “White House economists believe that taxes have little effect on growth”. Just a few days ago I received the June 2010 issue of the American Economic Review, the flagship journal of academic economics. The current issue contains an article by CEA Chair Christina Romer and her husband David Romer on the macroeconomic effects of tax changes. Their paper examines “all major postwar tax policy actions” and concludes that “tax increases are highly contractionary.” For emphasis, the authors add that this finding is both “strongly significant” and “highly robust.”

We find that senators respond more powerfully to their partisan base when casting such roll call votes. Indeed, when their state median voter and party median voter disagree, senators strongly favor the latter.

thedailyfallout:

This explains so much about the hyper-partisanship in America today…