For the Chinese to pay reparation fees in ways that donโt involve any current increase in American imports, they would have to liquidate a great deal of their investments in America. Any such liquidation would reduce asset values here at home.
โข
However, entrepreneurial innovation has unintended benefits that no one, not even the entrepreneur devising the innovation, can fully anticipate. To put the current fears regarding the global supply chain in perspective, let us imagine a world in which McLean never discovered the containership.
We are all Chinese communists now, with almost no, de facto, real and meaningful autonomy and discretion over our own lives and our ways of earning a living. We are pawns on a society-wide chess board, who are told what to do and where to stand and if anything goes wrong, we are the first…
โข
In contrast to Canada, which has no national restrictions against price gouging, 39 American states now have stringent laws or executive orders against raising prices during emergencies.
โข
For many countries abruptly closing commerce and civic life altogether, itโs still too early based on mortality statistics to say โoverreaction.โ But thatโs what it looks like.
As much as we as individuals and groups of people may try to and think we have untied ourselves from the ideas, customs and traditions of the past, to think anew and independently of what has preceded us, we can never completely uncouple ourselves from the cultural inheritance.
โข
Left-wing collectivism is not, in the end, about making society better off; it is about transferring power from the people outside of government to those inside of government.
โข
Dictatorships or authoritarian regimes (which also tend to be economically unfree) often put a lot of pressure on their bureaucrats to develop the economy and increase output. Thus are their data positively biased.
โข
American businesses plainly see in China what the chattering classes donโt.
Global per capita income has increased from a little less than $4,000 a year in 1966 to almost $17,500, in inflation-adjusted dollars at the present time. That represents a 372 percent increase in the average income of everyone on this planet in only 50 years.
For the Chinese to pay reparation fees in ways that donโt involve any current increase in American imports, they would have to liquidate a great deal of their investments in America. Any such liquidation would reduce asset values here at home.
โข
However, entrepreneurial innovation has unintended benefits that no one, not even the entrepreneur devising the innovation, can fully anticipate. To put the current fears regarding the global supply chain in perspective, let us imagine a world in which McLean never discovered the containership.
We are all Chinese communists now, with almost no, de facto, real and meaningful autonomy and discretion over our own lives and our ways of earning a living. We are pawns on a society-wide chess board, who are told what to do and where to stand and if anything goes wrong, we are the first…
โข
In contrast to Canada, which has no national restrictions against price gouging, 39 American states now have stringent laws or executive orders against raising prices during emergencies.
โข
For many countries abruptly closing commerce and civic life altogether, itโs still too early based on mortality statistics to say โoverreaction.โ But thatโs what it looks like.
As much as we as individuals and groups of people may try to and think we have untied ourselves from the ideas, customs and traditions of the past, to think anew and independently of what has preceded us, we can never completely uncouple ourselves from the cultural inheritance.
โข
Left-wing collectivism is not, in the end, about making society better off; it is about transferring power from the people outside of government to those inside of government.
โข
Dictatorships or authoritarian regimes (which also tend to be economically unfree) often put a lot of pressure on their bureaucrats to develop the economy and increase output. Thus are their data positively biased.
โข
American businesses plainly see in China what the chattering classes donโt.
Global per capita income has increased from a little less than $4,000 a year in 1966 to almost $17,500, in inflation-adjusted dollars at the present time. That represents a 372 percent increase in the average income of everyone on this planet in only 50 years.
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