Liberty Forged

the State has no money of its own, so it has no power of its own. ` Nock

Posts Tagged ‘privatization’

Great Frank van Dun Article & The Destruction of Keynes

Posted by Jesse on January 26, 2009

DEAD END STREET BLUES [Doc] [PDF]

With apparent relief, neo-liberals resurrect the Keynesian paradigm they had so enthusiastically denounced when its failures made the daily news bulletins. None of them has any idea to offer on the conditions that made the  crisis possible or on how it could have been avoided without sacrificing freedom and the rule of law. After all, they cannot see a crisis until it shows up in their data. Hindsight teaches them just enough to make them talk about low  interest rates, imprudent lending and structured investment vehicles. It does not teach them enough to make them admit that, as specialists, they should perhaps have been aware of the moral hazard involved not only in such  expansionary policies, practices and instruments but also in the framework of rules that had enabled these things to fester and drag down the entire economy. They paid a heavy price for using free-market rhetoric without  having a deep understanding of what constitutes freedom or what makes a market free. Unfortunately, the price they paid is mainly a loss of prestige. The real costs are borne by the public, which is still as much subject to the vagaries  of supposedly enlightened economic, monetary and fiscal policy as it was in the heyday of the Keynesians.   The main fallacy of the neo-liberal paradigm is the same as the fallacy of its Keynesian counterpart. It is the notion that the market is some kind of tool—a machine that the government can fire up or slow down as required to  reach desired outcomes. Every crisis is to some extent an intellectual crisis. That was true for the long stagflation of the nineteen-seventies and it is equally true for the crisis that made headlines in the summer of 2008

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Why Rudy Giuliani is losing ground.

Posted by Jesse on December 4, 2007

Maybe it’s statements like this:

“We look upon authority too often and focus over and over again, for 30 or 40 or 50 years, as if there is something wrong with authority. We see only the oppressive side of authority. Maybe it comes out of our history and our background. What we don’t see is that freedom is not a concept in which people can do anything they want, be anything they can be. Freedom is about authority. Freedom is about the willingness of every single human being to cede to lawful authority a great deal of discretion about what you do.”
– Rudolph Giuliani

Or maybe its his business associations that are questionable to say the least.
“…a consulting company with instant name recognition like Giuliani’s—and which claims to carefully vet its clients—can be both profitable and selective. Moreover, it’s the only American company known to be providing security advice to Qatar; the rest hail from Singapore, Australia, and France. A company headed by a man who has known that he would make this presidential run for years—and with 9/11 as its rationale—could have chosen to make his millions elsewhere. Especially a candidate who divides the world into good guys and bad guys, claims that this war is a “divine” mission, and shuns complexity. For that kind of a candidate, Qatar may become one Giuliani contradiction too many.”

Nafta Superhighway?
“The sell-off of American highways to private companies coupled with the controversial plan to build the “NAFTA Superhighway” has become an explosive political subject in many states. The influx of foreign companies involved in becoming owners of public assets has further enraged the public, as have details about their financial ties with some of the country’s most well-known politicians.

One of the biggest whoppers in the whole debate about political patronage and the sell-off of public infrastructure concerns the $100-million buyout of the firm owned by Republican presidential contender Rudy Giuliani by Macquarie, the big Australian investment banking firm.”

Posted in Current Events, Politics | Tagged: , , , , , , | 1 Comment »