American Elephants

Words of Wisdom for a Monday by The Elephant's Child
April 1, 2019, 3:59 am
Filed under: Capitalism, Communism, Economics, Economy, Free Markets, Freedom, History | Tags: , ,

Historians inescapably both write with the benefit of hindsight and shape the stories they tell. So history always appears much tidier and more dramatic to the reader than the events depicted seemed to those who lived through them day by day. Human beings have to live with a future that is always unknown while enveloped in the fog of mere existence that can be as hard to penetrate as the far better recognized fog of war.
……………………………………………………………………..John Steele Gordon
……………………………………………………………………..An Empire of Wealth

In sum, Communism failed and is bound to fail for at least two reasons: one, that to enforce equality, it’s principal objective, it is necessary to create a coercive apparatus that demands privileges and thereby negates equality; and two, that ethnic and territorial loyalties, when in conflict with class allegiances, everywhere and at all times overwhelm them, dissolving Communism in nationalism, which is why socialism so easily combined with “Fascism.” In recognition of this reality, the Communist Party of the Soviet Union abandoned the slogan, calling on all proletarians to unite.
………………………………………………………………………Richard Pipes
………………………………………………………………………Communism, a History

We don’t have a “profit system” – we have a profit and loss system, and the loss is the important part because it is a signal that company is badly managed and needs to do something about it.
………………………………………………………………………Milton Friedman

Big Government, And Why It Doesn’t Work. by The Elephant's Child

There is a mindset in politics, everywhere, that if we just had more encompassing governments, not so many small jurisdictions wanting to quarrel with each other, with more enlightened, well educated people in charge, then there would be more peace, fewer wars. Everybody would get along. World Peace.

The enlightened folks in charge would work out the problems in their meetings — but we’ve tried that. There’s the United Nations and the European Union, and all sorts of humanitarian organizations, and unsurprisingly– new scandals reported, the latest with Oxfam. The problem seems to be that non-governmental organizations are, by definition, unaccountable to the public that funds them. Zero Hedge reported on “Humanitarian Aid becoming a Euphemism for Oppression.”

But the drive continues for more government to be managed and controlled by the more qualified folks with more important degrees from more important schools. ( Usually promoted by those with more important degrees from more important schools) Why, in the wake of all the failures of larger and larger organizations would anyone think world government a dandy idea? It really is pretty clear that the best government is the smallest one, closest to the people. At least you can fight it out in person.

Democrats are usually obsessed with the idea that what Republicans do when they attain power is to give big tax cuts to the Rich, who don’t need tax cuts, because they are rich, and it’s just Republicans paying off their undeserving supporters. Democrats believe that you win elections and get power (their only goal) by giving goodies to the people whose votes you want. They simply do not understand that when Republicans give tax cuts, they give them to everybody, because people who pay way less taxes get smaller tax cuts. It is called Capitalism, and is the glory of a free people following their own dreams.

When you cut the taxes of business owners, they have more money to hire, invest, grow and invent—which they do, and as a result the economy grows and more people have jobs, and the nation prospers. Democrats are congenitally unable to understand this simple idea, perhaps because they are so busy hating the captains of industry and “the rich”. You will notice that members of Congress who become very rich do not complain about their tax cuts, but take an important vacation junket to some interesting foreign capitol where they can write off the trip by meeting with some officials.

President Trump may not always explain tax cuts in the most favorable terminology, but he has the right instincts, and knows what he is doing. Just look at the decline in the unemployed, and in the users of food stamps. I’m sure Democrats would be astonished to learn that people really do like to work at an honest job, and earn their keep, and they don’t like to be on food stamps. They appreciate the help when they need it, but the need embarrasses them.

Explaining Capitalism Once Again. by The Elephant's Child

John Mackey, co-founder of Whole Foods, explains to Reason TV’s Nick Gillespie just why Intellectuals hate Capitalism. “Intellectuals have always disdained commerce” he says. “They have always sided…with the aristocrats to maintain a society were the business people were kind of kept down.” (This is a 2015 conversation, but good on capitalism)

I’ll just add Roger Kimball’s excellent take once again.

Here’s the bottom line: Capitalism is the greatest engine for the production of wealth the ingenuity of man has ever invented. Are you interested in helping the poor? Embrace capitalism. Do you want to help clean up the environment? Embrace capitalism. Are you interested in obliterating the scourge of malnutrition in some ghastly African disease, or illiteracy, embrace capitalism. The global poverty rate, Kevin reminds us, has been cut in half in the last 20 years. Think about that. Then think about that. Then think about the sorrowful history of our species up to about 1830. How much progress against widespread—really, near total—poverty had been there from the beginning of time until then—until, that is capitalism started to take off? Not much

Why Intellectuals Hate Capitalism by The Elephant's Child

John Mackey, CEO of Whole Foods explains why Intellectuals hate Capitalism. Professors at our Universities have long seethed with envy when they see the published income of corporate CEOs. After all, they have PhDs, it is their ability to pass on real knowledge that made these upstarts able to become corporate big shots. If you wondered why college tuition has so far eclipsed any rise in the economy, part of it is the demands of professors to receive what they believe to be their due emolument. This video is from August 2015, pre-Amazon, but illuminating nevertheless. It explains a lot.

The American Economy Shrank by 0.7 Percent in The First Quarter. by The Elephant's Child
May 29, 2015, 10:49 pm
Filed under: Economy | Tags: , , ,

The revised figures for the first quarter show that the American economy shrank by 0.7 percent — January through March. The administration did not, however try to blame it on Bush, they blamed it on the harsh winter. It was a brutal winter on the east coast and in the Midwest. It is the third quarter in which the economy has actually contracted (the other two were the first quarters of 2011 and 2014).

This has been the slowest, most sluggish recovery since World War II. The strong dollar has meant that American exports are down. but other economies are not healthy either, including China’s. The Obama administration’s big-government, big-deficit, big waste and big-regulation policies are not a recipe for growth or recovery.

A new study finds that overhead costs are exploding under ObamaCare. Another promise up in smoke. The Health Affairs Blog published a study based on numbers from the Centers for Medicare and Medicaid Services, the agency that runs ObamaCare and found that ObamaCare increased health care costs by $17 billion last year, and by 2020 will add a total of more than $270 billion.Twenty-two percent of all new spending is going to overhead, paperwork, not patient care.

The United States spends more on regulation than ever before. The amount spent has increased significantly as has the number of people who are employed to write and enforce the increasing number of government regulations. In 1990, total spending on regulatory activity was $20.6 billion. This year it will clock in at $60.1 billion, a 192% increase. The National Association of Manufacturers estimates that in 2012 the total cost of federal regulations was just over $2 trillion — 13 5 of that year’s GDP.

Is this unruly Americans who need more careful control? Not likely. It is an administration that sees power and control as a goal. Not a climate in which free enterprise can prosper.

Myth, Lies And Capitalism by The Elephant's Child
May 29, 2015, 6:24 am
Filed under: Capitalism, Freedom | Tags: , ,

Arthur Brooks, President of the American Enterprise Institute, economist, and french horn player, gives a short class in Capitalism, always a worthy endeavor. Free enterprise works to lift people all over the world out of poverty.

Is Free Market Capitalism Morally Superior? Of Course! by The Elephant's Child

Economist Walter Williams has a special genius for explaining complicated things in simple terms. He is a renowned Professor of Economics at George Mason University, and in this interview he takes on the free market. Good video to share with your high school and college students.

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