The economy

The Mystery of Capital – Shrinkwrapped on Hernando de Soto and an essay written by a young Kenyan woman, June Arunga. – “many in the West do not understand that private property ownership backed by courts and reasonably honest representative government are the bed rock on which our economic success is built.”

The Futurist notes Outsourcing’ – What a Non-Crisis That Turned Out to Be“other than a few pessimists, socialists, and racists, it is unlikely to gain much traction, as Americans have seen that the benefits have outweighed the costs by a handsome margin.”

The Futurist also explains Why the US Will Still be the Only Superpower in 2030 ” Of the ten points above, Europe and Japan have tried for decades, and have only achieved parity with the US on maybe two of these dimensions at most. China will surpass Europe and Japan by 2030 by achieving perhaps two or possibly even three out of these ten points, but attaining all ten is something I am willing to confidently bet against. The dream of anti-Americans who relish the prospect of any nation, even a non-democratic one, surpassing the US is still a very distant one. “

The IEEE Spectrum has a report about why the peak oil theory has problems“the future of petroleum as a resource is finite but that the midpoint in the history of oil production will follow a protracted, undulating plateau. It estimates that world oil reserves contain 3.74 trillion barrels, which it says are three times as large as the 1.2 trillion barrels estimated by the proponents of Peak Oil. And it states that the theory, originally proposed by the late American geophysicist Marion King Hubbert and now supported by many scientists and environmentalists, has the potential to, according to a statement from CERA, ‘distort critical policy and investment decisions and cloud the debate’ over the future of energy production.”

The Oil Drum talks about Sustainability, Energy Independence and Agricultural Policy“There are many frustrating things about our current energy non-policy. One of the worst is that we’re paying people to do ineffective or even counterproductive things in the name of “sustainability”, “energy independence” and even supporting family farming. … It won’t be easy to change. There are huge interest groups which reap benefits from the status quo. … Our current fossil-based energy system is problematic; perhaps fortunately for us, it is very inefficient and leaves a great deal of low-hanging fruit. Its inefficiency allows the complete replacement of the fuel used for transportation and electric generation by various direct and indirect biomass products. The cost savings could amount to the better part of a thousand dollars per person per year, and the environmental savings would be immense. Best of all, the public wouldn’t have to endure any wrenching changes to make it happen.”

Back talk thinks The HUGE Federal Deficit is a Figment of the Mainstream Media’s Imagination“Is that big or small? You can’t tell, and that’s my point … that’s why so many people mistakenly think our federal deficit is HUGE when it is actually pretty small. This is not a debatable issue. Reporters are just wrong to do this, and I don’t know if they are being intentionally misleading or if they just don’t understand the basics. … As you can see, the CBO had it right and the CNN reporter (who helpfully explained that things would really get much worse) had it all wrong. We’ve never had anything close to record deficits under Bush, and the deficit we see today is really quite low.”

Dr. Sanity – on the morality of capitalism“Many, like Bin Laden, will claim that it is capitalism that destroys humans, spiritually and physically, but they are incorrect; and all the evidence leans to the exact opposite conclusion. In fact, among social, political and economic systems, democratic capitalism is probably the one and only system that is most consistent with human nature in that it allows all aspects of human nature to express itself in socially acceptable ways that can benefit the individual and the society-at-large.”

Comments are closed.