Links for October 17, 2011: Protesters arrested for demonstrating inside of Citibank; Justice Scalia eschews federal drug prohibition; More economic myths.

October 15, 2011
  1. Well, this really happened (see video). The truth, however, did not stop such prominent blogs as Daily Kos and InfoWars from uncritically repeating the facially ridiculous claim that over twenty customers were arrested for nothing other then asking tellers to have their accounts closed. The blogosphere lit up in the meantime. By the end of the next day, two of my progressive friends on facebook had unquestioningly posted the fraudulent headline to their news feeds. Some people, it seems, will swallow, without a second thought, just about any accusation leveled against a corporation.

    Two days later, Daily Kos published the above clarification explaining exactly what happened inside the bank: a disruptive demonstration, and not an innocent series of business proposals. InfoWars, on the other hand is staying the course. It has published a new story called Big Banks Refuse To Let People Close Accounts, which not only reiterates the hideous libel, but alleges further that banks all across America are forbidding “people” (people who carry signs or bullhorns into the banks, that is) from closing their accounts. No shame.

  2. Come on, people. Let’s repeal federal drug laws and free up Scalia’s Wednesdays for golf. He needs it.

  3. Responding to each of Kevin Drum’s claims here will take a bit too long. I’ve begun a feature on this, which I hope to finish some time soon (I think I have three half-finished drafts cooking). Suffice to say here that Austrian economists have already presponded to these claims, and the Austrian presponses have been predictably ignored.

Posted from Diigo. The rest of my favorite links are here.


Links for March 15, 2011: Backlog O’Links #1

February 13, 2011
  • One way to stimulate an economy is to get your foot off of it’s neck.

  • It is a crime, work? So I guess I’m a criminal. It is a crime to be working. lol.

  • I’m glad this point of view is getting out there. On one hand, I can see how the gold standard would constrain a growing economy. On the other hand, no, I don’t trust those people with the printing press.

  • Read the rest of this entry »

  • Links for January 24, 2011: Planet Money Compares Socialism and Libertarianism; When Is a Mural not a Mural?; SCOTUS Revisits “Knock and Announce”; others….

    January 23, 2011

    Thomas E. Woods, Jr.

  • Tom Woods | People Who Deserve to Be Better Known

    I knew one only one of the five on this list. I’m sure you will be reading more from them all here in no time. Thanks to Tom Woods for sharing, and I’m glad to pass it along!

  • http://public.npr.org/anon.npr-mp3/npr/blog/2010/09/20100917_blog_pmoney.mp3?_kip_ipx=1874937601-1295886944

    Nice talk with socialist economic professor Richard Wolff. If anyone out there could possibly convince me that socialism is the way to go, it would be a professor of economics who believes it. I don’t believe he makes his case here in this segment, but I’m sure it would be impossible to do so in such a small window time.

    Wolff seems to think that part of the problem with capitalism is that there is a conflict of interest between business leaders and laborers. Of course there is such a conflict, but in a world of scarce resources, there will always be conflicts of interest between producers and consumers. Everybody has an interest in producing less and consuming more, and that interest conflicts with everyone else’s interest to do the same. Abolishing capitalism will not alter this reality.

    Wolff advocates a more democratic workplace. He evidently wants rules of some kind that would limit the types of businesses that people are allowed to create. Only those businesses that allow workers the prescribed amount of say in the goings on of the business are to be permitted. Wolff does not say here whether he expects everyone to adhere to these rules voluntarily or if he has in mind some sort of enforcement apparatus. But here in our capitalist society, people are perfectly free to create democratic workplaces. The usually do not, because they want a certain amount of control over their own creations and they want to ensure adequate returns for themselves. If all these other rules are placed upon the act of starting a business, I’m sure you will see far fewer people willing to take the risk.

    Not that I’m entitled to the increased productivity the a capitalist societies, but why not freedom? Nobody forces one particular person to work for another particular person, and nobody should force business models that they find appealing on the entrepreneurs who are producing, innovating, and making things happen.

  • http://public.npr.org/anon.npr-mp3/npr/blog/2010/09/20100921_blog_pmpod.mp3?_kip_ipx=1614643902-1295887909

    Adam Davidson: I’m just trying to think how my life would be different [in a libertarian society].

    David Boaz: You would be much richer, you would be happier, you would be better looking, you would be taller.

    Adam Davidson: Would I be stronger?

    DB: Absolutely.

    AD: Could I eat fattening foods but somehow maintain a slim physique?

    DB: Yes, probably. … With faster economic growth, we’d have better technology. And we probably would have all these miracle fats that don’t put any weight on you.

    This is the promised Libertarian follow-up to the above discussion with a socialist. The exchange above, I’m sure, is a tongue-in-cheek jab at those who describe libertarians as utopian. Do not take it all literally, but we surely would at least have faster economic growth. It’s a shame that I feel like I have to explain this.  Read the rest of this entry »