Showing posts with label entrepreneur. Show all posts
Showing posts with label entrepreneur. Show all posts

Sunday, May 04, 2014

Top 10 HHCapitalism.com Posts for the Past 30 Days

Here below are the Top 10 most popular articles viewed on HHCapitalism.com in the past 30 days:

#10: "Why Government Interference in Markets Always Fails"
Few economists have illustrated as plainly and logically as Ludwig von Mises why price controls (and by extension, all types of interventions in free markets) don't work, never achieve their stated goals. For this reason we present here an excerpt from the chapter 'Interventionism' from his book 'Economic Policy'
http://www.hhcapitalism.com/2012/11/why-government-interference-in-markets.html
#9: "Health Care a Human Right?"
A moral obligation to help the less fortunate does not justify massive transfers of power and money to a privileged and unaccountable Washington D.C. bureacracy.
http://www.hhcapitalism.com/2014/04/health-care-human-right.html
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See also: "Post-Obamacare Reform"
Obamacare is now a dead letter. Here is a detailed, incremental health care policy reform proposal.
http://www.frontpagemag.com/2014/howard-hyde/post-obamacare-reform/
#8: "Why be a Republican?"
Many people who see clearly the anti-constitutional and socialist path of destruction that our generation’s Democratic Party is taking us down, nonetheless are often reluctant to identify themselves as Republicans, much less get involved in Republican political organizations. Why should they?
http://www.hhcapitalism.com/2014/04/why-be-republican.html
#7: "Nothing New Under the Sun"
Living in America in 2014 we have a tendency to flatter ourselves into believing that we are so much more sophisticated and intelligent than our forebears because we can download an app to our iPhone, but the truth is that most of our brilliant new original ideas are nothing more than a rehash of things that have been thought of and worked out many times over and in many nations throughout history.
http://www.hhcapitalism.com/2014/04/nothing-new-under-sun.html
#6: "Libertarianism and Republicans"
Is the rise of the international Libertarian movement and the Liberty Caucus a good or bad thing for Americans in general and Republicans in particular? Just what is Libertarianism? Where does it come from? What does it mean?
http://www.hhcapitalism.com/2014/04/libertarianism-and-republicans.html
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See also: "What is Capitalism?"
A working definition of Capitalism, to counter the popular misconceptions about exploitation of the poor and privileges for the rich.
http://www.hhcapitalism.com/2006/08/what-is-capitalism.html
#5: "Takeaways from CPAC"
Highlights from one couple's experience attending the Conservative Political Action Conference, March 6-8 2014
http://www.hhcapitalism.com/2014/04/takeaways-from-cpac.html
#4: "Campaign Finance Regulation Lightens"
Implications of the April 2 McCutcheon vs. Federal Election Commission Supreme Court decision. Nancy Pelosi shrieks "Existential Threat!" Clarence Thomas says the decision didn't go far enough in lifting restrictions on political speech.
http://www.hhcapitalism.com/2014/04/campaign-finance-regulation-lightens.html
#3: "President of Southern California Republican Women and Men"
Incoming 2014 President Howard Hyde delivers his inaugural message to members, guests and newsletter subscribers.
http://www.hhcapitalism.com/2014/04/president-of-southern-california.html
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See also: http://www.FaceBook.com/SCRWM
#2: Iron Firewall Descends on Ukraine
HHCapitalism.com has long been especially popular with readers from Ukraine. But recently traffic from that beleaguered nation has gone silent.
http://www.hhcapitalism.com/2014/04/iron-firewall-descends-on-ukraine.html
#1: "The CPAC Experience"
Top tweets from the Conservative Political Action Conference from the editor.
http://www.hhcapitalism.com/2014/04/the-cpac-experience.html

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Top HHCapitalism.com Posts of All Time

Here below are the Top 9 most popular articles posted on HHCapitalism.com since its inception in 2006:

#9: "Nation Building in Iraq 10 Years On"
How come no one in the Bush administration ever proposed a Capitalist model for Iraq's petroleum industry?
http://www.hhcapitalism.com/2013/03/nation-building-in-iraq-10-years-on.html
#8: "Milton Friedman on Socialized Medicine"
With your Obamacare debate, get some wisdom from one of the greatest economists of the 20th century
http://www.hhcapitalism.com/2012/07/milton-friedman-on-socialized-medicine.html
#7: "121 Reasons to Reject Obama-Reid-PelosiCare"
Written in 2009 before the PPACA was passed, this pamphlet still encapsulates the essential facts, true today as they were then, about Obamacare: Unnecessary, Destructive, Doomed to Failure.
http://www.hhcapitalism.com/2009/11/121-reasons-to-reject-obama-reid_29.html
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See also: "Pull the Plug on Obamacare"
100-page common-sense citizen pamphlet on how Obamacare was sold on false premises, is accomplishing the opposite of its advertized promises, and what we should do instead.
http://www.amazon.com/Pull-Plug-Obamacare-Citizen-Pamphlet/dp/0615765939
#6: "Five Steps to Immigration Reform"
A simple, straighforward proposal: Legalize Capitalism, Elevate Citizenship, Liberalize the quotas, Document the Undocumented and Isolate the criminals.
http://www.hhcapitalism.com/2006/11/five-steps-to-immigration-reform.html
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See also: "Illegal Immigration, 1806 -2006"
A 200-year review of the American experience with unlawful migration, squatters and the Homestead Act
http://www.hhcapitalism.com/2006/05/illegal-immigration-1806-2006.html
#5: "Why Government Interference in Markets Always Fails"
Few economists have illustrated as plainly and logically as Ludwig von Mises why price controls (and by extension, all types of interventions in free markets) don't work, never achieve their stated goals. For this reason we present here an excerpt from the chapter 'Interventionism' from his book 'Economic Policy'
http://www.hhcapitalism.com/2012/11/why-government-interference-in-markets.html
#4: "Nothing To Do About Jobs"
The one thing the government hasn't tried for 3 [now 5] years is to get out of the way.
http://www.hhcapitalism.com/2011/09/nothing-to-do-about-jobs.html
#3: "Unemployed College Grads of the World, Unite!"
According to Goldman Sachs economist Jan Hatzius, “The labor force participation rates of college graduates have actually fallen by more than those of workers without a high school education…the growth in the absolute number of employed college graduates has been nowhere near enough to offset the increase in the size of the college-educated population.”
http://www.hhcapitalism.com/2013/05/unemployed-college-grads-of-world-unite.html
#2: "What is Capitalism?"
A working definition of Capitalism, to counter the popular misconceptions about exploitation of the poor and privileges for the rich.
http://www.hhcapitalism.com/2006/08/what-is-capitalism.html
#1: "Books on Capitalism and economics"
A Capitalist Bibliography: The Top Ten Easy-to-Read popular expositions on economics and capitalism; The Top Ten Hardcore Scholarly Treatises on economics; The Top Five Most Dangerous Anti-capitalist Rants; Other Books of Interest
http://www.hhcapitalism.com/2006/05/books-on-capitalism-and-economics.html

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Sunday, April 27, 2014

Libertarianism and Republicans

From Howard Hyde's 'President's Address' to the Southern California Republican Women and Men, April 26 2014:

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Today our meeting competes with the California State Convention of the Young Americans for Liberty at USC and coincidentally, my talk today is about Libertarianism and Republicans. I did not know about that event before I planned my presentation. I don't pretend to know anything in detail about that organization, but I do know something about Libertarianism from my own perspective, and with just enough serendipity today I hope to make a positive contribution to the discussion.

People sometimes ask me if I am a Liberarian, to which I reply, well, yes, I have some libertarian tendencies, but it's not like I have a meth lab in my Winnebago or anything. To clarify, I say that when I am elected President of the United States, Ron Paul will be my Czar in charge of the decommissioning of Fannie Mae, Freddie Mac, The Community Reinvestment Act, Dodd-Frank, Sarbanes-Oxley, Section 1706 of the 1986 Tax Equity and Fairness Reform Act or TEFRA, and the Fed. On the other hand, as it pertains to foreign policy and geo-politics, my nominations for Ambassador to the United Nations and Secretaries of Defense and State are, in no particular order, John Bolton, John Bolton and John Bolton. In the unlikely event that Mr. Bolton is unequal to all three commissions simultaneously, my alternates are Allen West and Benjamin Netanyahu (it shouldn't be difficult to procure a credible birth certificate for Ben, considering precedent).

Almost half of the attendees of CPAC (the Conservative Political Action Conference) were under the age of 26, and a plurality of these are libertarians or members of the liberty caucus. This is an international movement of youth who have opened their eyes and realized that as a generation they have been screwed by the collectivist members of their parent's generation, and are determined to do something about it. In libertarianism they see the solution.

Is this good or bad for Americans in general and Republicans in particular? In my opinion it is on balance very good, with the caveat that like anything else, the thing needs to understood by all at a greater than sophomoric level, or, like anything else again, it could just as easily lead to catastrophe.

So, what exactly is libertarianism? What do we need to understand about it?

The modern libertarian movement has its roots in the Austrian School of economics, which began in the late 19th century with Carl Menger and reached its apogee in the works of Friedrich Hayek (Nobel Laureate) and his mentor Ludwig Von Mises, whose 93-year lifespan overlapped with Menger's from 1881 until 1973, after Nixon had declared that "we're all Keynseyans now." (Come to think of it, that's probably what killed him.)

Like classical liberalism and modern American conservatism, libertarianism holds that the best model for political economy is that characterized by the most limited interference in the decisions of citizens, low taxes and light to no regulation beyond preventing and punishing murder, assault, robbery, theft, fraud, rape, persecution and conspiracy. Conservatives may call this being guided by the Ten Commandments; Libertarians might consider it plain common secular sense.

The Austrian school was the most radically minimalist in its view of the appropriate role of government, and that minimalism was taken to its radical extreme in the work of Mises' disciple Murray Rothbard, who posited that government wasn't even necessary for police and defense, as these services could be bought and sold on the free market just like bread and haircuts.

In 1963 Rothbard wrote a book on the Great Depression that I consider one of two absolutely required reading for anyone wanting to know just how President Franklin Delano Roosevelt did NOT save the country from the Great Depression but rather worsened the crisis, and how Herbert Hoover was no free-market, laissez-faire pro-capitalist president; the other required reading being Jude Wanniski's (of Wall Street Journal fame) How the World Works. In the same book Rothbard also wrote the most clearly articulated presentation of Austrian business cycle theory (or the theory of booms, busts and crashes), a theory to which the financial crisis of 2008 fits like a textbook case.

The two dominant branches of Libertarianism in America today are represented by the Cato Institute on the one hand, based in Washington D.C. and focused on practical, policy-oriented research and lobbying, and the Mises Institute on the other, deliberately based away from the centers of power in Auburn Alabama in order to remain more purely focused on theory and academic freedom. While Murray Rothbard and the Mises Institute's president Lew Rockwell have carried Mises's theoretical torch forward in many ways admirably, in many other cases they have made assertions that Mises never did and probably never would have, and have done so dogmatically and intolerantly.
My infatuation with Rothbard ended abruptly when I read the op-Ed piece that he had written at the conclusion of the Reagan Administration. "Eight years, eight dreary, miserable, mind-numbing years of the Age of Reagan, are at long last coming to an end." he groaned in a piece titled 'Ronald Reagan, an Autopsy' -- fifteen years before the Gipper's actual passing. It was a littany of accusations worse than Thomas Jefferson's indictments of King George III in the Declaration of Independence. Nancy Pelosi could not have penned a more bitter diatribe. The only thing Rothbard gave credit to Reagan for was lifting the 55 mph federal highway speed limit.

Now, Ron Paul is derived from Rothbard, and in many respects in a good way. It was Rothbard who first penned the academic The Case Against the Fed from which Paul's more populist End the Fed is derived. I am mostly in agreement with these positions on domestic economic issues, as is John Allison, current president of the Cato Institute, bank president for 25 years and author of The Financial Crisis and the Free-Market Cure.

So again, while I am wary of extremists of any stripe, my only quarrel with Libertarianism as such is the role and character of America’s diplomacy and armed forces in the world; on the latter I stand firmly with Ronald Reagan. Otherwise I look forward to the day when we’ll say that "We're all (conservative) libertarians now". That's much better than being all Keynseyans, or progressives, or all socialists. Maybe the young people can help us bring that about.

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Friday, September 09, 2011

Top Articles

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Thursday, September 08, 2011

Nothing To Do About Jobs

The one thing the government hasn't tried for at least 3 years is to get out of the way.

Now that President Obama’s hope-and-change green job-creating juggernaut has flatlined (with 0% job growth in August and downward revisions for prior months), a reasonable question to ask is, what can governments do now?
The answer is that perhaps they can do the one thing they haven’t tried in at least 3 years, if not more: nothing. That is, governments can minimize their footprint on the economy, lighten regulations, cut tax rates (permanently), stop threatening ‘millionaires and billionaires’, banks, oil companies, non-union workers and the private sector in general and basically get out of the way of the people who would otherwise be creating the jobs.
For the fact is, governments and politicians, no matter how wise or worthy, don’t create jobs, on net balance. Even big, established business corporations don’t do it; they’ve lost almost 3 million net jobs in the US over the past decade.
Real job creation is the role of startup entrepreneurs: businessmen and women, investors and speculators with an assist from venture capitalists and private insurance companies. That’s right, the people most reviled on the Left as undeserving rich, racist polluting exploiters are in fact the ones from whom all prosperity flows (prosperity that has to be created before it may be distributed). The pudding is that Obama, Reid, Pelosi, Frank, Dodd, Waters & Co. are at the top of their game in crushing and suppressing these fatcat scum of the Earth, and the logical and inevitable outcome has come to pass, among which the worst spike in black teen unemployment in a generation: 47%.
Entrepreneurs put together business projects on their own account, without subsidies, privileges or prejudice, hoping to enjoy profits (which arrive years or decades after everyone else, including workers, have been paid) but having no guarantee against losses for failing to provide the optimum mix of high-quality low-priced products and services and well-compensated JOBS most urgently needed in the marketplace. When they fail, entrepreneurs lose their own money, not yours and mine, and they don’t indenture our grandchildren.
All the undue laws, regulations, taxes, red tape, lawsuits, threats, monetary manipulations and hostility toward profits that governments slap on the private sector, can only have the effect of raising the cost and risk of hiring people to prohibitive heights, resulting in the unemployment that we are suffering.
By ‘undue’ is meant those interventions which do not derive from governments’ legitimate role of preventing and punishing murder, robbery, theft, fraud, assault, rape, persecution and/or conspiracy. Does it really take tens of thousands of pages of laws, hundreds of agencies and 8 million unionized public-sector employees to do that?

Entrepreneurship doesn’t need to take direction from government in order to do the right thing for the economy. Whether the subject is food, clothing, shelter, minerals, energy, clean air, medicine, university faculty parking spaces or JOBS, the same entrepreneurial cycle pattern emerges: Scarcity leads to rising market prices, which signal entrepreneurial opportunity; there’s money to be made (‘there’s gold in them thar hills!’). Investors and speculators advance their own savings to fund research and development to invent new ways to extract and produce more, to drill deeper under the ocean floor using only one tower where five had been required before, to design new industrial and technological processes, to genetically engineer seeds that multiply crop yields, to discover new life-prolonging and enhancing miracle drugs, etc. Many entrepreneurs fail, at their own expense (not the taxpayer’s) but others succeed, and the result is profits for them and abundant products and services at prices for you and I that are lower than before the ‘crisis’ that started the cycle.
The only force capable of stopping this virtuous cycle is… force: Prohibiting the market to function; controlling wages and/or prices so that signals and information about the true relative abundance and scarcity do not get transmitted properly; awarding contracts and employment positions based on political favoritism, nepotism or ethnic preferences rather than objective competence and qualifications; forbiding an aerospace company from opening a new plant in a right-to-work state because it doesn’t please the Big Labor bosses; barring the exploitation of available resources (EPA); destroying the U.S. IPO market via Sarbanes-Oxley; forcing taxpayers to prop up firms that have failed; failing to enforce the rule of law consistently and fairly; bringing criminal charges against oil companies over the death of a few birds while giving the windmill industry a free slaughter pass; paying people increasingly generous benefits for not working, out of the pockets of those that are; wasting taxpayer money on ‘bridges to nowhere’ on the ludicrous principle that government spending somehow multiplies economic benefits above what that same money would accomplish in private hands from which it was taken…and on and on. Instead of being the custodian of individual liberty and private property rights, government has metastasized into a giant job-killing machine.

The great economic revolutions that began in England in the late 18th and early 19th centuries and were carried forward in the United States in the 19th  and 20th , were the result of liberty, of government permitting it to happen, not interfering, not doing what most governments to this day still do, which is to stomp on and crush any force or individual that competes with their power and status. The sooner we learn that lesson, the sooner the jobs engine will be revived.
To quote Rich Karlgaard of Forbes Magazine: “Entrepreneurs are not just a cute little sub sector of the American economy. They are the whole game”. Or Tim Kane of the Kaufman Foundation: “When it comes to U.S. job growth, start-up companies aren’t everything. They’re the only thing.” Government has a whole lot of nothing to do about it. May it get started right away.

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