Category Archives: USA
Economics 101: Capitalism vs. Socialism
A major source of objection to a free economy is precisely that group thinks they ought to want. Underlying most arguments against the free market is a lack of belief in freedom itself. – Milton Friedman
I recently came across one of the most succinct, yet profound explanations for why capitalism works. In a recent blog post for Forbes, Dean Zarras explains why capitalism will prevail in a civil society over socialism.
Click here for the full article, it is very well done.
Idealistic Capitalism vs. Idealistic Socialism
The author makes an excellent case for why we should strive to be idealistic in our views and understandings of the free-market system.
[M]ost people would agree that if I break into my neighbor’s house and take a bunch of stuff, but with the intention of donating it all to the poor, it’s still stealing. Somehow though, a lot people have a different interpretation of lobbying the government to raise the taxes of, or punitively-regulate, some particular group or economic sector.
After discussing the notion of the what would happen if we were to do away with layers of regulation and serve one another in the “greater good”, he concluded the following:
In the end, Idealistic Capitalism is predicated on the notion that although people can make mistakes, they are predisposed to doing the right thing. The corollary notion is that a truly free market will punish those mistakes and as such moves society toward an ever-greater good. Idealistic Socialism seems instead to assume that people in general will not do what is good for society, and therefore, a hopefully benevolent government must direct the activities of the people towards that greater good.
We live in a time and place where “Tax the Rich!” and “Pay their Fair Share” are common chants in the marketplace of ideas… however, we cannot allow the voices of the few to overpower the will of the majority. We cannot sit back and let our rights decay and we lose our property as well as our ability to pursue happiness, which includes our right to make a living and retain our earnings.
When we explore a true free-market system, the market will correct any adverse actions by the likes of the Bernie Madoff’s of the world. We can live without wind farm subsidies and all of the other examples of a socialist state that is working to undermine of the free-market system.
From now on, I will wear the badge of “Idealistic Capitalist” with honor.
Iowa Straw Poll Ballot Spots Announced
In just over two weeks, the first test of strength with the GOP field to challenge Barack Obama will take place. Ames, Iowa will host the Iowa Straw Poll on Saturday, August 13, 2011 at the Hilton Colosseum on the campus of Iowa State University.
From the Associated Press:
9 GOP candidates on ballot for Iowa Straw Poll
The Iowa GOP State Central Committee announced Saturday that the six candidates who reserved space at the Aug. 13 event at Iowa State University in Ames were guaranteed ballot spots. Read the rest of this entry
Pawlenty’s Predicament
Former MN Governor Tim Pawlenty
In the land of 10,000 lakes, we have watched the career of 2-term former governor Tim Pawlenty. The now Republican 2012 presidential candidate was a red spot in a blue sea oftentimes. However, Minnesotans have rolled with the Pawlenty punches: the good, the bad & the ugly.
As the infamous Ames Straw Poll draws near, Pawlenty has less than a month now to make up ground he so sorely needs to remain viable as a candidate to become the GOP nominee for President. Experts say that he must obtain a finish in the top 3 spots at the Straw Poll or risk losing his bid for the White House, as Iowa also holds the first GOP primary in February 2012. With the entrance and excitement of fellow Minnesotan and Tea Party sweetheart, Congresswoman Michele Bachmann, Pawlenty is not only battling (and losing in the polls to) a fellow Minnesotan down in Iowa–he is also battling for the heart and soul of the GOP. On paper, he appears to have all the right credentials — so why isn’t his candidacy catching fire?
Read the rest of this entry
An Open Invitation – Why Do You Support Obama?
Barack Obama, 44th President of the United States
It’s been 2 years plus 167 days since Barack Obama assumed the office of the Presidency of the United States. He won easily over GOP-endorsed Senator John McCain. His platform was “Hope and Change”, which I’m not quite sure how that translates into actual ideas, but many in the electorate bought into it (whatever that means). Some even expected Obama to pay for gas, mortgage, other bills…. as if he was the Great and Powerful OZ.
So what has he done? The numbers don’t lie. Read the rest of this entry
A seemingly timeless cartoon
Isn’t the old saying that history always finds a way of repeating itself? This cartoon was featured in the Chicago Tribune in 1934. It’s been 77 years, but nothing has really changed. Enjoy the irony!
A “Greece”-y Mess – Why the USA Should Care
On the other side of the world, outside of our American bubble, Greece is in a mess. Facing soaring debt and likely default, the Greek parliament passed a bailout of sorts they call an Austerity Bill. Greece’s debt as a percentage of GDP currently hovers around 144%.
On the brink of an economic meltdown, world markets have been closely watching what would transpire in the European country. Their solution? Major tax hikes and cuts to services… and Greece has been rioting over this.
How did this happen? Well, in large part…. an explosion of public sector jobs, pensions, and other social benefits since 1973. Sound familiar?
Here in the United States, we are facing a critical decision making time as we reach our “debt ceiling”, the legal limit as to how much the government can borrow to pay its obligations. As it stands, the US is scheduled to reach the federal limit on spending as of August 2, 2011. Read the rest of this entry
The politics of…. Video Games?
Image via Wikipedia
Semi-automatic weapons. Street riots. Torture. Rape. Hand grenades. High-speed chases. Murder.
No, not some third world country in chaos… Just some of the content of the more “”Mature” rated video games. Generation Y (post-1982) has grown up with these types of video games readily available, whether or not a minor can actually purchase them. The law of the land had been that video games rated for mature audiences were not to be sold or rented to those under age 18 under penalty of law.
….Really. I guarantee a violent video game was easier for a teenager to obtain than beer or cigarettes.
However, the Supreme Court has now ruled 7-2 that it is a violation of First Amendment Rights to ban the sale or rental of “ultraviolent” video games to minors.
From the AP (via Yahoo! News):
Can’t ban violent video sales to kids, court says
…….
States cannot ban the sale or rental of ultraviolent video games to children, the Supreme Court ruled Monday, rejecting such limits as a violation of young people’s First Amendment rights and leaving it up to parents and the multibillion-dollar gaming industry to decide what kids can buy.
The high court, on a 7-2 vote, threw out California’s 2005 law covering games sold or rented to those under 18, calling it an unconstitutional violation of free-speech rights. Writing for the majority, Justice Antonin Scalia, said, “Even where the protection of children is the object, the constitutional limits on governmental action apply.”
Scalia, who pointed out the violence in a number of children’s fairy tales, said that while states have legitimate power to protect children from harm, “that does not include a free-floating power to restrict the ideas to which children may be exposed.”
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Moral of the story: Parents, be responsible with what you allow your children to access. Do-gooders, it’s not your place to try and instill your moral relevancy upon someone else’s kids. SCOTUS, bravo. Justice Scalia was right on the money in his Majority Opinion.
