Comments on: Subsidizing Profligacy http://www.frontporchrepublic.com/2010/05/bad-lesson/ Place. Limits. Liberty. Wed, 08 Feb 2012 17:57:44 +0000 hourly 1 http://wordpress.org/?v= By: Clare Krishan http://www.frontporchrepublic.com/2010/05/bad-lesson/#comment-49857 Clare Krishan Wed, 02 Jun 2010 01:45:20 +0000 http://www.frontporchrepublic.com/?p=11058#comment-49857 And see comments under the conundrum of "burden" expounded on by William May at http://sergesblog.blogspot.com/2010/05/on-being-burden-culture-of-life-article.html And see comments under the conundrum of “burden” expounded on by William May at
http://sergesblog.blogspot.com/2010/05/on-being-burden-culture-of-life-article.html

]]> By: Clare Krishan http://www.frontporchrepublic.com/2010/05/bad-lesson/#comment-49856 Clare Krishan Wed, 02 Jun 2010 01:43:33 +0000 http://www.frontporchrepublic.com/?p=11058#comment-49856 And the Cobden center on the looming Vampire (public purse sucking the blood from circulation of private equity, ie yours and my savings) http://www.cobdencentre.org/2010/05/vampire-economy/ And the Cobden center on the looming Vampire (public purse sucking the blood from circulation of private equity, ie yours and my savings)
http://www.cobdencentre.org/2010/05/vampire-economy/

]]> By: Clare Krishan http://www.frontporchrepublic.com/2010/05/bad-lesson/#comment-49850 Clare Krishan Wed, 02 Jun 2010 01:05:50 +0000 http://www.frontporchrepublic.com/?p=11058#comment-49850 Granted its unpleasant but not something unheard-of: C.S. Lewis' imagination depicted a trickery of similar dimensions in The Great Divorce, as Daniel Hewitt over at Mises' reminds us: <i>What’s the trouble about this place? Not that people are quarrelsome-that’s only human nature and was always the same even on earth. The trouble is they have no Needs. You get everything you want (not very good quality, of course) by just imagining it. That’s why it never costs any trouble to move to another street or build another house. In other words, there’s no proper economic basis for any community life. If they needed real shops, chaps would have to stay near where the real shops were. If they needed real houses, they’d have to stay near where builders were. It’s scarcity that enables a society to exist.</i> H/T http://blog.mises.org/12857/the-people-who-borrow/#comment-692136 Granted its unpleasant but not something unheard-of:
C.S. Lewis’ imagination depicted a trickery of similar dimensions in The Great Divorce, as Daniel Hewitt over at Mises’ reminds us:
What’s the trouble about this place?
Not that people are quarrelsome-that’s only human nature and was always the same even on earth. The trouble is they have no Needs. You get everything you want (not very good quality, of course) by just imagining it. That’s why it never costs any trouble to move to another street or build another house. In other words, there’s no proper economic basis for any community life. If they needed real shops, chaps would have to stay near where the real shops were. If they needed real houses, they’d have to stay near where builders were. It’s scarcity that enables a society to exist.
H/T http://blog.mises.org/12857/the-people-who-borrow/#comment-692136

]]> By: John Médaille http://www.frontporchrepublic.com/2010/05/bad-lesson/#comment-49209 John Médaille Fri, 28 May 2010 14:31:28 +0000 http://www.frontporchrepublic.com/?p=11058#comment-49209 Polistra, nice short-hand description, indeed, a reader's digest version of the past 60 years. It could even go further, by comparing it to the 75 years before Roosevelt; those who are "nostalgic" for the pre-Roosevelt economy ought to at least look at that period. What we are experiencing today would be fairly normal for those times. Polistra, nice short-hand description, indeed, a reader’s digest version of the past 60 years. It could even go further, by comparing it to the 75 years before Roosevelt; those who are “nostalgic” for the pre-Roosevelt economy ought to at least look at that period. What we are experiencing today would be fairly normal for those times.

]]> By: polistra http://www.frontporchrepublic.com/2010/05/bad-lesson/#comment-48941 polistra Thu, 27 May 2010 15:09:48 +0000 http://www.frontporchrepublic.com/?p=11058#comment-48941 Addendum: I've talked about this a number of times, perhaps best here: http://polistrasmill.blogspot.com/2009/04/no-it-hasnt-failed.html Addendum: I’ve talked about this a number of times, perhaps best here:

http://polistrasmill.blogspot.com/2009/04/no-it-hasnt-failed.html

]]> By: polistra http://www.frontporchrepublic.com/2010/05/bad-lesson/#comment-48940 polistra Thu, 27 May 2010 15:08:48 +0000 http://www.frontporchrepublic.com/?p=11058#comment-48940 You'd think economists, who have known (since 300 AD!) the bad consequences of price controls, would have noticed the bad consequences of controlling the price of money. It's classic: shortages, black markets, rationing. We also have another implicit price control: by encouraging businesses to use Chinese slave labor, we have rigidly controlled the price of American labor. There's no point in saving and no point in working under such conditions. Might as well get on the dole. You’d think economists, who have known (since 300 AD!) the bad consequences of price controls, would have noticed the bad consequences of controlling the price of money. It’s classic: shortages, black markets, rationing.

We also have another implicit price control: by encouraging businesses to use Chinese slave labor, we have rigidly controlled the price of American labor.

There’s no point in saving and no point in working under such conditions. Might as well get on the dole.

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