Links for Monday, June 20: China’s Economic Stimulus; Ludicrous RIAA Damages; What about NPR?; others…April 17, 2011
Stories about how China’s economy will soon surpass that of the U.S. should not be taken at face value. This is China’s economic stimulus project. This is what a government stimulus project is. A government stimulus project is when the government takes money and resources from the private sector and uses it to make and build things for which there is no genuine demand. Our American stimulus is of the same essential character. Ours is just a little more modest in scale.
Here is a nice article from Niall Ferguson about the choice the American Government will make on our behalf in the near future: Raise taxes and/or cut government. Thomas E. Woods has argued that raising taxes will not solve the problem. There will have to be copious cutting.
With juries like these, who needs dictators? Read the rest of this entry »