Category Archives: Economics

The Austerity of Hope

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I call myself a Democrat because that’s how I’ve been registered all of my voting life. In fact, the older I get, the more disconnected I feel from that label. I don’t want to register as an independent because, Bernie Sanders notwithstanding, I can’t get over the prejudice that American independents are all right-wing at heart. Was it George Wallace’s American Independent Party that instilled this in me? Who knows? It’s beginning to feel, however, that the correct radical stance in this disintegrating context is to not register or vote at all. A vote begins to feel like acquiescence to the corruption.

Did Democrats or any other Obama supporter vote for the fiasco of the last month, culminating in the supreme surrender by our audacious leader last night to the anti-democrats of the Republican Party, bypassing the leaders of his own party to give the (fictional) partisanship-loathing centrists of the electorate  the White House is courting for 2012 the illusion of “operational bipartisanship?” Well, yes, we actually did vote for it, unfortunately, and that’s where the whole problem lies. Continue reading →

Why Is This Debt-Ceiling Hike Like No Other?

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Tyler Durden over at Zero Hedge makes a point overlooked by almost everyone who talks about this debt-ceiling limit compared to previous ones (his emphases):

While everyone and their grandmother is foaming at the mouth how both republicans and democrats hiked the debt ceiling for umpteen times over the past x years, the truth is that never before has the ratio of the proposed debt ceiling to the tax receipt ratio been as high as it is now. At nearly 6 times, this means that the top line (forget bottom line) cash inflows into the Treasury are 6 times lower than the current debt ceiling. And following the upcoming $2.5 trillion this number will surge to almost 8 times.

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Dueling Armageddons of TeaParty Rep. Steve Pearce

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How many Armageddons?

The leaders of US business in the form of the US Chamber of Commerce, the New York Times reports, spent millions of dollars last election cycle electing the extreme right-wing dynamos now holding the Chamber and the rest of us hostage for the sacred Republican principle of a balanced federal budget (well, sacred except to Reagan, the Bushes, and the Congressional Republican leaders of the last 30 years). One of these intellectual giants the Chamber was particularly generous toward displays the kind of logic these new leaders (and, by implication, the rest of us) are at the mercy of:

The chamber spent $436,953 helping to elect Steve Pearce, a New Mexico Republican, almost 20 percent of the total that he was able to raise and spend on his own.

This month, Mr. Pearce told the radio program “News New Mexico” that cutting federal spending was just as important as increasing the debt ceiling.

“We have talked a lot about Armageddon if we don’t pass the debt ceiling,” he said. “There’s an equal Armageddon on the other side if we don’t start curing the spending problems.”

Set aside that the debt-ceiling “Armageddon” is pending next Tuesday and the other has been pending since Bush and Congressional Republicans spent the Clinton-era surplus on tax breaks for the rich, Pearce evidently wants us to believe  that in order to hold off the second already held-off Armageddon, it’s necessary to bring on the first.

Hey, Chamber, thanks for sending us this leader. Thanks a lot.

Beginning of a New American Revolution? #OccupyWallStreet

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The following is a public service announcement on behalf of Occupy Wall Street. To participate, go here. Of course, if you’d like to discuss it with me in the comments area right here, please do. Continue reading →

Fruits of One’s Labor: Possession and Property, Use and Usury

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Jan C, a self-described “prioritarian” and “voluntaryist” (new terms on me, I confess) who inspired the previous post, opened another can of worms in his comments that I’d like to look into more deeply. He was responding to this assertion of mine:

“The difference between possession and private property in real anarchism, is the difference between use and usury. Real anarchists believe that what a person uses, a person possesses”

He asked:

So if you don’t use ‘your’ hammer, I can pick up and walk away with it?

I really don’t understand you people. If you’ve worked your ass of and got something for it in return (money, or goods), than you simply own it, and that means you can do with it whatever you like (either use it, trade it, give it away or destroy it). How can anybody not agree with that?

I do see that there are grey area’s. What constitutes property is not always clear-cut in every case. But I find ‘fruits of labour’ a much better rule of thumb than ‘use’. Continue reading →

The Commons and Individual Rights

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I received an interesting comment from Jan C on the previous post which I’d like to respond to in part here. There’s a lot to unpack in Jan’s comment, so I may take another post to elaborate on the question of “property” vs. “possession” and “use” vs. “usury.” But here I want to address a crucial point Jan made about “the commons” and “the individual.”
Continue reading →

“Anarcho”-Capitalism: The Boss’s and Landlord’s Paradise

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Continuing the discussion I began here and continued here, in this installment, I present for your consideration more of the debate I participated in nearly a decade ago over the inherent contradiction in the term “anarcho”-capitalism.

I should say a little more about why this debate remains relevant. If you listen to the rhetoric of some of the “intellectuals” in the Republican party, you will hear echoes of “anarcho”-capitalism’s sacred principles: private property is a natural right; the state is an impediment to freedom; taxation is theft; freedom to associate with persons of one’s choosing is a natural right. Ron Paul‘s Ten Principles of a Free Society almost reads like a Ten Commandments for anarchos. It’s not surprising given that Paul is a Libertarian and “anarcho”-capitalism is also a product of Libertarian philosophizing, is, in fact, Libertarianism taken over the side of the slippery slope. Paul and his son Rand are far from the only Libertarianism-espousing politicians in power. One other very powerful Libertarian  in the Republican party is Wisconsin Congressman Paul Ryan, whose budget aims to dump social welfare programs from the government’s repertoire of services for the citizenry. These ideas are as close as they’ve ever been to  America’s power center. Are we all comfortable with that? Continue reading →

“Anarcho”-Capitalism (Proprietarianism) vs. Real Libertarian Anarchism

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An American’s sacred right to property being profaned.

Continuing from my last post, here reproduced are excerpts from the Usenet debates I had in the summer and fall of 2002, mostly, with self-described “anarcho”-capitalists. The original argument concerned “rights” and “freedom,” but it quickly led, as most debates with “anarchos” go, to the question of property. As I mentioned yesterday, these issues, I believe, lie at the very heart of the debates going on presently over the debt-ceiling (actually over revenues vs. spending) in Congress and the media. But you won’t hear our pundits or politicians for the most part bring it down to the very ground it all springs from. Continue reading →

The “Anarcho”-Capitalist Conundrum

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In the wake of September 11, 2001 and continuing through the lead-up to the Iraq War and into 2003, I was involved in an intense debate on several political Usenet groups (my involvement in political Usenet, actually, goes back to the Clinton-Lewinsky scandal of 1997-1998), in which there was a clique of rabidly right wing libertarians holding forth on what they called “anarcho-capitalism.” Many believe that the only logical conclusion to right libertarianism (and to history, actually) is capitalism completely unfettered by government. In a sense, they’re right (except for the history part): If you think government is bad for business and you think business is the best way to distribute resources, then the best government is no government at all.  Of course a lot of Libertarians believe government is necessary to provide for the defense of business interests, but the anarchos would argue that if businesses need to be defended, they should do it themselves. Abolish government, they say, abolish borders, open all the world to capitalism. Let the market determine the value of everything. Continue reading →

NYT: Americans’ Long National Free Lunch Daydream Is About to End

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David Leonhardt very helpfully explains why Republicans are so single-mindedly pursuing what turns out to be a very popular idea, to keep the debt ceiling right where it is and force the government, come hell or high water (or both and worse), to get its financial house in order: Continue reading →