Opening Pandora’s Box
I have heard lots of arguments pro and against am empathetic approach to constitutional law. For obvious reasons, I am much against this type of approach. It makes no sense that we should empower people to decide based upon their whim how laws should be interpreted.
However, if Sonia Sotomayor is confirmed and she does rule with empathy as her main concern the issue is the resounding impact this could have on the US legal system. As it is a system dependent upon precedent, it could open up the US Justice system to intepretation, irregularity, and a loss of respect for the constitution and essentially a loss of the rule of law.
Without a rule of law, individuals will be disinclined to engage in contracts, partnerships, etc. Especially if there is even a remote chance (and there always is) for disagreements. If a Judge can rule on their heart vs the law it will have a resounding effect on the US.
Not being a lawyer, could this happen?
True Liberals
Milton Friedman consistently and often noted that the term Liberal had been hijacked by the left-wing of the Democratic party in the early 20th century, particularly in the 1930’s during the New Deal. In most of the world, Liberal still refers to espousing the principles of freedom and limited government. This includes down under, where the Liberal Party of Australia staunchly opposes Labor’s tax and spend programs.
The party’s platform is strikingly similar to that of the Libertarian Party here in the states. The big difference is that down under, the party actually has a stake in the game.
The Purpose of Economics
I am somewhat disappointed by comments over at the Freakonomics blog.
Steven Levitt is running a little contest to see who can finish a sentence uttered by his fellow economist Gary Becker over lunch:
“The only purpose of economics is _______.”
Well, I entered my guess. The disappointment for me is the sheer number of people who are answering “allocating resources.”
Economics is a study of what people actually do — not an exercise in telling them what to do or how to do it. Yes, the tools can be useful for understanding how to be more efficient, but the purpose isn’t making the damned trains run on time!
Calling John Q Public
…to stand up against Dr. Utopia’s “ISM”.
While parts of this cartoon are dated, the message isn’t.
Tax Revenue Declines
We keep calling, but we have been able to reach John Galt.
Federal tax revenue plunged $138 billion, or 34%, in April vs. a year ago — the biggest April drop since 1981, a study released Tuesday by the American Institute for Economic Research says.When the economy slumps, so does tax revenue, and this recession has been no different, says Kerry Lynch, senior fellow at the AIER and author of the study. “It illustrates how severe the recession has been.”
One Third of Maryland Millionaires go John Galt
Who would have thought that with a specific tax on 0.3% population that some of them went John Galt?
Another Parable
A woman in a hot-air balloon realized she was lost. She lowered her altitude and spotted a man in a boat below. She shouted to him, “Excuse me, can you help me? I promised a friend I would meet him an hour ago, but I don’t know where I am.”
The man consulted his portable GPS and replied, “You’re in a hot air balloon, approximately 30 feet above a ground elevation of 2,346 feet above sea level. You are at 31 degrees, 14.97 minutes north latitude and 100 degrees, 49.09 minutes west longitude.
“She rolled her eyes and said, “You must be a Republican.”
“I am,” replied the man. “How did you know?”
“Well,” answered the balloonist, “everything you told me is technically correct. But I have no idea what to do with your information, and I’m still lost. Frankly, you’ve not been much help to me.”
The man smiled and responded, “You must be an Obama Democrat.”
“I am,” replied the balloonist. “How did you know?”
“Well,” said the man, “you don’t know where you are or where you are going.. You’ve risen to where you are, due to a large quantity of hot air. You made a promise you have no idea how to keep, and you expect me to solve your problem. You’re in exactly the same position you were in before we met, but somehow, now it’s my fault.”
Borderline Logic
Here is an interesting perspective from a Nigerian who thinks foreign aid is actively hurting poverty-stricken African nations. Thompson Ayodele is a Research Fellow at The Independent Institute and the Executive Director, Initiative for Public Policy Analysis, Nigeria.
Quoting from London Telegraph columnist Daniel Hannan:
Foreign aid, he suggests, isn’t useless; it’s actively harmful. It discourages enterprise, fosters dependency and bolsters corrupt regimes. A similar correlation exists between debt remission and insolvency: countries which have their bills periodically written off become re-indebted more quickly than countries which don’t.
Thompson Ayodele is describing a fundamental understanding of human nature. He sees the end result of aggregate behavior that is mirrored at every level. If you see it among nations, you also will observe it in states. In states, you can find parallels in cities. Within cities, there are neighborhoods. And individual households.
Poverty cannot be eliminated by giving people money. The solution isn’t transference of wealth, but instead its creation.
I look forward to seeing more of his reasoning and the data backing his assertion.
Hey, Laughing Hurts Feelings
With everything else that President Obama is trying to save with his nationalization programs, I think Feelings should be at the top of the list.
As Instapundit reports, Toyata is laughing (albeit indirectly) at the Chevy Volt.
We are all for competitive bravado, competing in the market place, but laughing, laughing at your competitors is unconscionable. Laughing hurts feelings, and we can’t allow hurt feelings.
If students can’t handle the hard reality that they didn’t make the grade and have to be graduated rather than stay back a grade, how can we expect GM and UAW to be laughed at by the larger car manufacturer in the world.
I would like to propose here that we censor Toyota and even look at tariffs for all product imported and built here within the US. (I think it will happen either way).
Spending Our Future
Where is the outrage over out-of-control government spending? The WashingtonPost has a great article on the amount of spending that the Obama Administration is engaging in. Read the whole thing:
Let’s see. From 2010 to 2019, Obama projects annual deficits totaling $7.1 trillion; that’s atop the $1.8 trillion deficit for 2009. By 2019, the ratio of publicly held federal debt to gross domestic product (GDP, or the economy) would reach 70 percent, up from 41 percent in 2008. That would be the highest since 1950 (80 percent). The Congressional Budget Office, using less optimistic economic forecasts, raises these estimates. The 2010-19 deficits would total $9.3 trillion; the debt-to-GDP ratio in 2019 would be 82 percent.
We will all be paying for this for quite some time to come…