A Great Post on Failure, Writing and TV

Warning: For the more sensitive readers, there is language of the less than clean type within.

But this is a great blog post by the guy who wrote the best selling book Sh*t My Dad Says. It's an example of how failure is an important part of any successful person's history. It demonstrates a spirit of gratitude. It gives insight into an industry we all have enjoyed, namely TV. And it's pretty darn funny.

Well worth the read.

Some great passages:

"After eighteen episodes we were pulled off the schedule and cancelled, but it was hard for me to be upset. I had just launched an entire career off a Twitter feed. It’d be like winning the lottery and getting pissed off because they only give you the money in increments of fifty thousand dollars a year."

"Generally, studio executives try incredibly hard to be jovial when addressing writers. They understand that we don’t tend to enjoy their company because spending time with them means we’re going to get “notes,” and notes are like Yankee fans; not all of them are bad, but all of them are annoying."

"TV writers sit around a room seventy hours a week trying to make our friends laugh, have access to more bottled water than entire African countries, and we get paid handsomely for our efforts."

History

Minimum Wage Strikes Again

As I tweeted, San Francisco is raising its minimum wage to $10.24 on Jan 1st (HT to my dad for bringing my attention to this story).

The minimum wage is probably one of my most despised government interventions. Like most other policies, it purports to help those most disadvantaged yet does the exact opposite, all to the benefit of politicians. Amongst other factors, it's like a slow acting poison to those in business.

Nobel Laureate Milton Friedman and reporter John Stossel have excellent basic explanations of how poor a policy the minimum wage is.

A Few Freedom Resources

Here some excellent resources to check out if you are interested in academic studies on how free different countries or states are.

This one, the Economic Freedom of the World, by the Fraser Institute is global in scope and is great "big picture" stuff. Canada is freer than the United States according to their analysis.

The Mercatus Center puts out a Freedom in the 50 States that garners attention.

Rich States, Poor States by the American Legislative Exchange Council offers a more detailed index on what states are more business friendly compared to others.

In these reports, especially the Freedom of the World report (which is 2009 data, no less), the United States is sliding down the scale of freedom toward statism, i.e government control. While we are no Soviet style nation, we should not take for granted the liberty those before us fought to obtain.

Top 100 Global Thinkers 2011

Foreign Policy has a fascinating list of those people with short bios and interviews. If you haven't seen it, check it out.

Also, there is a reading list of the top 20 books recommended by the top 100 thinkers. How could you pass that up?

Surfing...On Lake Tahoe

This is crazy! It looks absolutely frigid though. But I've never heard of this happening.

We've All Been There

A Bigger Deal?

Operation Fast and Furious emails released last night. It's amazing how more people in the DOJ and administration haven't lost their jobs over this.

I'm not necessarily a G.W. Bush fan but anytime something sketchy like this (Solyndra, et al) happens in the Obama administration, I can't help but see how differently it is handled by the media and others than were it to happen in the Bush administration.

"Death to Pennies"

This video is great. Watch it now.

A View Opposite My Own

Here's an article and video I was pointed to from Elizabeth Warren's Senate run against Scott Brown in MA.

Watch the video, check out the article. You may agree, you may disagree.

A relevant quote: "there is nobody in this country who got rich on his own. Nobody."

She had a brief stint in Washington as a Special Assistant to the President for no less an important role than potentially overseeing the Consumer Financial Protection Bureau. She was not confirmed and is now running for Senate apparently.

"I, Pencil"

This story is pretty fascinating. If you've never read it, take 10 minutes today and give it some consideration. The main text starts about halfway down the page.

The story is told from the perspective of a pencil about all that goes into making a pencil: the wood, the graphite, the rubber, the metal, the paint, all from different parts of the world. Pencils would be very difficult to make on your own. But thanks to markets, high quality, highly affordable pencils are possible and accessible to nearly everyone.

Teddy

11 days without a post. Yikes. I've been in the midst of writer's block or something.

Yesterday I visited Theodore Roosevelt Island in the Potomac with some friends. It's one of the places in DC I have never been, so it was cool seeing something new. There are paths that go around the island through woods, marsh and along the river with a monument in the center. It's a nice natural haven amidst the city.

While he was president, T. Roosevelt would often take VIPs on wilderness marches along the Potomac, much to their chagrin. He was a vivacious dude who'd stomp through whatever natural obstacle was in his way: water, mud, brush and his guests would have to try and keep up. It was a favorite past time of his and I think the memorial they have on the island is appropriate for him being in the middle of a nearby bit of woods. He was a man who balanced well the scholarly life and the active life. He could hunt wild game or talk history with the best of them.

While no perfect role model, his example reminds me that an important aspect of living life more fully is to spend time amongst the trees and to read all you can. Although president by tragedy (as VP, T. Roosevelt was sworn in after William McKinley was assassinated), I believe most of his accomplishments came about because he wasn't one to waste time, always curious, and those are qualities I'd like to have as well.

Don't Worry

I wasn't worried about the FCC presidential-address-emergency-whatever until I saw this picture:

The "reassuring" look he has (whoever that is: "Don't worry, I'm from the Government"), how the photo looks like it was taken in the 90s. Is this capability necessary for the federal government? To me it is perhaps a milestone on the road to centralized power that our government is already cruising along. I will worry, thank you.

Income Inequality

My gosh, have we all heard about this issue or what? In this piece, the author clearly expresses a sound perspective on the confusion out there regarding the middle class and whether or not we are getting richer or poorer.

A salient paragraph: "You will notice that the Occupy Wall Street crowds -- and the progressives who support them -- focus on bringing the wealthy down to earth rather than lifting the 99 percent. They have a nearly religious belief that too much wealth is fundamentally immoral and unhealthy for society. The economic systems they cheer on would coerce downward mobility for the sake of equality but ignore prosperity for the people they claim to represent."

My Brothers Doing Their Thing

Christians and Paying for Stuff

There were a couple occurrences this last week that stuck out in my mind and that have me mulling. So here's a mull:

One instance was with a guy I met at a party. After talking theology for awhile, we got to discussing different pastors he listens to and I mentioned one who I think is fantastic, but I mentioned that you have to pay for his sermons (something just over a dollar a piece, maybe two). He immediately wrote him off because he believes sermons should be accessible to all, shouldn't charge for them, etc.

The second experience was with some church people at a lunch and a very nice member bough cookies for us all. I gladly accepted a cookie and offered to pay him a dollar or whatever. He politely said it was on him. The girl next to me then explained how at this church they believe what goes around comes around, no need to pay.

In each instance I felt of tinge of a thought that didn't quite agree with both people's assumptions. Also in each instance I didn't say anything in response. Since I do not know them well I can only guess at their assumptions, but in each case I would guess the assumption is Christians shouldn't charge money for things. I can totally understand that perspective. Jesus talked about generosity, the stumbling block of material wealth and the early church as talked about in Acts 2 provides a clear example of shared resources. However, too quickly I think do Christians jump to the conclusion that because money is involved, the person accepting the money is a greedy money grabber doing it solely for his selfish sake.

No doubt that can be true in many cases. However, what about those on the other side? In offering Cookie Man my money, I would like to dignify his expenditure in resources he earned with an expenditure of my own in resources I earned. As for the pastor who charges a small fee for his sermons, the only people who will be buying and listening to his sermons are the ones who want to most and will get the most value out of them. Also, his time is limited and represents an investment, and should be dignified by others placing a representation of their limited resources/investments in his care.

I guess the bottom line is: human dignity, in the full sense of that phrase as talked about in scripture, can be fulfilled through voluntary transactions also known as purchases. Money is not the root of all evil, the LOVE of money is the root of all evil. And as Scripture tells us, we can fall into the trap of generosity and giving to the poor, just as easily as the trap of money grabbing or greed. Each can smother our soul if we are not careful to look to Him in all things.

The Seasons and Led Zeppelin

As some of you know, Led Zeppelin is definitely my all time, favorite band. Since I started listening to recorded music at 16, they have consistently remained at the top of my list. Sometimes I'll go for half a year or more without listening to them much but I always have returned with renewed appreciation and usually in a totally different way than before. I think the diversity in their music is what makes them amazing and so versatile. You can find any song of theirs to match with a season of life you are in or a particular kind of day you are having. It bugs me when people bill them as Heavy Metal when they never thought of themselves as such and there are only a couple songs, let alone no whole albums, of theirs that could be considered any kind of metal. They are tremendous musicians who made American blues songs their own and didn't release an album of completely original recordings until their fifth album. Age adds appreciation to most everything in life, and I have noticed that with Zeppelin's music in particular lately.

This song, Going to California, has been a song for the last year or so of my life during the periods of transition I've been in. It speaks to me of the real, God given human emotions involved in wandering, love, hope in new beginnings, and of course, California. Plus the guitar work is something you just can't unhear. 

Economic History in 4 Minutes

Author Sylvia Nasar takes us through recent economic history in this nice video. She is the author of A Beautiful Mind.

Tremendous Resource

For sound teaching on economic ideas, LearnLiberty.org is a tough website to beat. Definitely check it out if you'd like to hear a perspective on the minimum wage being the worst thing ever (my own opinion) or something like the example below of a generally used term in economics.

Skipping the Self Checkout

Has anyone ever heard of this? Skipping the self checkout in order to protect people's jobs? Seems like good reasoning, but after you get beyond step one, it falls apart.

Professor Boudreaux offers his opinion in this blog post from yesterday on Cafe Hayek. It's in his usually sarcastic tone, but brings up some inconsistencies in anyone's thinking that not using technology is somehow better for the economy.

Similarly, Blockbuster going out of business can be viewed as a bad thing and indeed it was a difficult situation for many people. Hulu, Netflix, Red Box, etc are blamed for putting them out of business, which I think is correct. My family were frequent Blockbuster customers in an effort to keep us kids mildly sedate during key periods of the day and would spend a healthy sum of money in video rentals. Now for less than half the price, my family has instant access to thousands more choices than the Blockbuster store saving money and time. Seems like a win, win situation to me. And this streaming video service is a whole new industry barely imagined a decade ago.

As history has clearly shown, true ingenuity of the types mentioned above is best achieved in an environment of political and economic freedom.

The Horror!

Huff Post says evidence ties Herman Cain to Americans for Prosperity, a grass-roots group funded in part by the Koch brothers. 

The articles states that AFP "lobbies for lower taxes and less government regulation and spending."

Oh goodness, anything but lower taxes and less government regulation and spending, please! 

The article goes on to say how Cain's ties to a group funded by rich people is dangerous because all rich people do is take away democracy (paraphrase). I speculate that the Huffington Post people would push for more regulations, at least. But only the right and just ones, of course. However, I find that interesting because the more power you give government (like in regulatory power) and as it is invested in one place, the more the "rich people" are going to lobby the government as that becomes the way to get things done. Imagine Government as a bed. The bigger you make it, the more people can hop in and dictate from it.

Economic Freedom Part Dos

This video talks about America in particular. Prepare to be boggled.

Twitter

For those who may care, I now have a twitter account: Tay_Bark. I would love to follow you if you have one. Comment or email me.

This Twitter feels like a new frontier for me but I like it so far. I took the plunge because one Ben and one Josiah's gentle encouragement, many people here in DC tweet like fools, and it seems like a good way to get news of all sorts. Of course I will still keep blogging here as this allows a little more freedom (aka words). 

Columbus

This year especially it seems fashionable to be angry at Columbus. As if we are all experts on the man and his intentions. I note this because of various comics and pictures on Reddit and Facebook. You've probably seen the one that says: Celebrate Columbus Day by walking into your neighbor's house and claiming it as your own.

I lump myself in the above classification in the fact that I am no Columbus scholar, historian or biographer. However I don't like the current fad that incorrectly casts him as an Annexer Extraordinaire. I think it is historically wrong and miscasts Columbus's intentions and actions. The mere fact that he crossed the ocean and the Native Americans did not seems like an historical fluke and a matter of who had the more advanced technology. Chance encounters of the kind that Columbus had with the Native Americans are very difficult to judge as right or wrong.  

Our culture has this image in our head of Columbus as Darth Vader entering the Rebel ship, guns blazing, claiming the New World as his own, all in the name of the Christian God. The portions of Columbus's diaries that I have read through mentioned no such action. He and his crew were welcomed by the natives (who warred with each other by the way) and sought to have a discourse with them as best they could. Apparently Columbus communicated with the natives which is rather impressive and would take a lot of patience, a virtue conquerors don't seem to have when dealing with foreign people groups they are trying to steam roll. 

Treating Columbus as a symbol of some of the terrible mistakes the Europeans made in their colonization is maybe legitimate. But even then it is making him out to be the villain he was not.

Craiglist Jewel

Found this while looking for some drums on Craigslist. Don't drink and write ads.

Nicer set-First act Drum set 4 drums
First set sold the oold base set this morning
now A set First Act Set there been hard too ut better 485

I would like to firn a time to see it, before giving the full address or the phone number for I need to be here too,
most days 830 Am. will work for me
would you like to come to see them,
house is Just 4 miles South 28
From i-66 Near CVS 8300 Centreville Va
Near CVS few Houses down 2
YorkshireLnManassasva20111
All sure We have a time & Day so I can be there too
Estate Sale most have to sell
offer s are asked for

Twitter Map

Shows where tweets are coming from around the world. Kind of cool. Kind of.

I'm thinking a Twitter account is coming within the month...For those who for some reason might care that I have a Twitter account. There's a lot of tweeting here in DC, I feel it necessary to keep up with the times and the latest whatever. Like my recent arrival on the Mad Men bandwagon, I'm a little behind the times.

Live Apple Presentation Blog

Engadget has a pretty sweet live blog for the announcements Apple is making today. Check it out.

The Occupy Wall Street Demands

This list of demands is on the "de-facto website" run by the protesters on Wall Street right now.

I too would like to see an end to cronyism, political corruption, and immoral business deals. However I believe a majority of the demands in this list would lead to the very opposite of what the protesters desire. For instance, "Demand three: Guaranteed living wage income regardless of employment." Where would that money come from? Why would you even want to work if that were the case?

More porous borders, I agree with. Human beings are the most important part of any economy.

I also have a proverbial wish list probably as unlikely to happen as the one above and that many would regard as crazy. However, this is a wish list ignorant of economic realities, human nature and how true prosperity is achieved. These efforts have been tried and have failed nearly every time to achieve the sought after result.

That One Green Energy Company

I knew nothing about Solyndra, that one solar company that received a $500 million loan from the government and is now bankrupt. If you're like me, you may find this video informative.

This video provides a little background and little slant. Still a nice, under 2 minute explanation.



Perhaps Matt Reno has some insight as well.

The Hoover Myth

At one point I was a fan of Herbert Hoover, because I appreciated the myth surrounding his presidency: that he was a "do nothing" president and the consequence was the Great Depression. (Generally, I like do nothing presidents). This piece published by the Cato Institute was written by Stephen Howitz, a professor of economics whom I have met and chatted with a few times. He is one of the nation's experts on pre-Depression era economics. Below is the summary:

Politicians and pundits portray Herbert Hoover as a defender of laissez faire governance whose dogmatic commitment to small government led him to stand by and do nothing while the economy collapsed in the wake of the stock market crash in 1929. In fact, Hoover had long been a critic of laissez faire. As president, he doubled federal spending in real terms in four years. He also used government to prop up wages, restricted immigration, signed the Smoot-Hawley tariff, raised taxes, and created the Reconstruction Finance Corporation—all interventionist measures and not laissez faire. Unlike many Democrats today, President Franklin D. Roosevelt's advisers knew that Hoover had started the New Deal. One of them wrote, "When we all burst into Washington ... we found every essential idea [of the New Deal] enacted in the 100-day Congress in the Hoover administration itself."

Hoover's big-spending, interventionist policies prolonged the Great Depression, and similar policies today could do similar damage. Dismantling the mythical presentation of Hoover as a "do-nothing" president is crucial if we wish to have a proper understanding of what did and did not work in the Great Depression so that we do not repeat Hoover's mistakes today.

 

What's Up Now With the Empty Borders Stores?

This article explains.

I was sad to see Borders close. While there were definitely cheaper ways to get books, for me, nothing beat browsing through thousands of new books. With Borders' coupon and reward system, of which I upgraded to the $20 program earlier this year (good timing right?) one could find very affordable reads. Using coupon and membership program, I often received 50% off a new book thus matching some used bookstore prices. 

Also, Borders beat the pants off of Barnes and Noble. Borders had far better current issues, politics, economics and philosophy sections than B&N. They also didn't feel as fake as B&N for some reason, not as "poppy."

I will miss you, Borders.

NPR's Sci-Fi and Fantasy Book Guide

A very nice, often entertaining flow chart on where to start and what to read regarding sci-fi and fantasy.

Guam is Going to Tip Over

I was unaware of this until a couple of days ago.




He said he was making a joke/hyperbole. Hmm.

A Competitive Currency

How often have you thought of currency competition? I hadn't hardly at all until I got here and am learning about it little by little. I find it interesting because it goes against so much of our current cultural thinking: that government declares what is money, owns the money (owns the pieces of paper) and says we must us it for cash transactions.

Here's the conclusion to this sub-committee testimony by Lawrence White, a George Mason professor.

"Competition in general creates incentives to provide a high quality product by taking business away from low-quality producers. Competition in currency is a practical idea that offers sizable benefits to the public when the quality of the incumbent currency becomes doubtful. In particular, US citizens would benefit from freedom of choice among monetary alternatives though the removal of current legal restrictions and obstacles against currencies that could compete with Federal Reserve Notes and US Treasury coins. HR 1098 would give currency competition a chance"

It was for the Free Competition in Currency Act of 2011 introduced by none other than Ron Paul.

Full text of the testimony is here.

There is almost zero chance the House will vote on it, but still it's cool to see these ideas getting tossed around down there.

The Road to Serfdom in Cartoons

If you've heard of F.A. Hayek's The Road to Serfdom but haven't had time to read it, fear not! There is a cartoon version of the basic thesis of the book.

Six Months After the Japan Earthquake

This Atlantic online article is very informative and well done. 


Each of the pictures shows a photo right after the tsunami and quake devastation and then a photo of the same spot and angle taken on September 1.

Dam(s)

I like what Jonah Goldberg writes. He gets to the point and has an insightful angle on whatever the situation may be. In this article on an MSNBC ad, he calls out the inconsistency in  a typical leftist plea for infrastructure investment and then discusses how government has lost/never was flexible when it comes to adapting to new situations. Below are a few excerpts:

"The reason the ad is so funny is that nobody thinks liberals such as Maddow would support anything like the Hoover Dam today. The Hoover Dam is a marvel. But by today’s green standards, it is a crime against nature. If you tried to build it, the Natural Resources Defense Council and Greenpeace would be in court tomorrow blocking it, with Ms. Maddow cheering them on."

"Look, I’m no Keynesian, but there should have been at least an economic sugar rush from the stimulus. There wasn’t, in large part because government has lost its flexibility. We poured money down the same mostly clogged bureaucratic drain. When the last bit burbled away, we were told we must “invest” even more in infrastructure and education. We’ve been doing that for decades. In terms of spending, adjusted for inflation, the size of government has increased 50 percent over the last decade alone."

The Wealth Will "Trickle Down"

Culled this gem from Reddit. I am not ashamed. Edit: As in, I am not ashamed for pulling this from reddit. I do not think this is based in historical fact. Just worth a laugh.

An Amazing Memorial

This Time website is really well done with videos and transcripts recording the memories of where people were on 9/11 and what their experiences were like. People range from George W. Bush to retired fire fighters to those who lost someone. Definitely check it out.

The Bible: Socialist or Capitalist?

Here's a pair of articles on this topic.

Gregory Paul writes here that the Bible advocates socialism and was the start of socialist type thought.

Jay Richards refutes Paul's piece saying that the Bible is not explicit about either form of economy but lays the groundwork for a free (capitalist) economy. 

Definitely worth a read and some consideration.

The Wal-Mart Question

Here is something I have heard a couple times from various economists at events I have attended, so I am not sure whom to give credit to.

But the saying is: Wal-Mart does not put mom and pop stores out of business, we do.

One of the central points underlying the standard argument against Wal-Mart is that it shows up one day in Smallstown, Midwest where there was a happy Main Street, come back a year later and now happy Main Street has turned into depressing Main Street with all the jolly shop keeps now wearing blue at Wal-Mart as exploited employees while the towns people brainlessly shop there.

What the above saying highlights is our role as consumers in this process. Wal-Mart does not bulldoze existent businesses when it enters a community. If it did, that would be immoral. As far as I am aware, they do not use violent Mob techniques to run business owners out of town either. If Wal-Mart shows up in your community, you have a choice: continue shopping at Main Street or go to Wal-Mart. If Main Street is so fantastic, than it would still be around. And places like that are, even in areas with Wal-Marts, i.e Laguna Beach, so it's not a hard and fast rule.

A standard rebuttal is that Main Street shop keeps can't possibly compete with Wal-Mart's supply chain, stock, etc. This is true. Whenever a better, streamlined process comes along, stores/industries go out of business. Think of what the automobile did to the carriage industry, or the PC to to the typewriter industry or (to borrow Bastiat's idea on a similar line) what the sun does to the light bulb (or candle) industry. This creative destruction is an economic fact of life and while painful, provides a better quality of life in the end, as can be seen by cars, PCs and any other advance in technology.

So while Main Streets sadly do change, it is a process in which we as consumers have a role. As long as you have choice and means, you can keep shopping at Main Street or check out that new Wal-Mart. In the end it works itself out.

Jesus, Bombs and Ice Cream

I would probably disagree with the politics and economics at this festival, but it sounds like a pretty darn good time. I kind of want to go. People talking about God, peace and enjoying ice cream. I'm all on board for those things.

"Ugly? You May Have a Case." An interesting abstract about a call for legal protection for the ugly:

"A more radical solution may be needed: why not offer legal protections to the ugly, as we do with racial, ethnic and religious minorities, women and handicapped individuals"

I feel like there a lot of underpinnings when policy of this type is pushed. What if I'm not naturally athletic and want to play football because professional football players make a lot of money? Should the state advocate on behalf of those types? One can work at being more attractive just like one can work at becoming more athletic. Granted, that's not a great analogy as there are some naturally ugly people who don't have much of a choice if they worked at it or not.

Should the state legally protect and advocate on behalf of those who "suffer" any type of what may be called a "shortcoming"?

Wal-Mart Rock and Rollers

This NPR article briefly explains how Wal-Mart, Home Depot and other big box stores prepare for storms/disasters in a way government agencies attempt to emulate.

Self interest comes to the aid of others.

Conan and Baseball

I never tire of this clip.

More From Moore

Wall Street Journal editor, Stephen Moore articulates basic economic principles in a concise way I hope to emulate. In this article entitled "Why Americans Hate Economics," there are a couple nuggets of economic truths I'd like to pull out. As for the basic message of the article as the title implies, I wasn't particularly swayed. But that's not important.

"Economic bimboism is rampant in Washington. The Center for American Progress held a forum earlier this summer arguing that raising the minimum wage would create more jobs. For this to be true, you have to believe that the more it costs a business to hire a worker, the more workers companies will want to hire."

Indeed.

"A few months ago Mr. Obama blamed high unemployment on businesses becoming "more efficient with a lot fewer workers," and he mentioned ATMs and airport kiosks. The Luddites are back raging against the machine. If Mr. Obama really wants to get to full employment, why not ban farm equipment?"

This reminds me of an anecdote I have heard regarding a trip Milton Friedman took to China. (It may be true or not, but the moral remains the same): A Chinese government official was taking him around, showing him the wonders of the industrious People's Republic. They came up on a canal project where there were hundreds of workers digging the canal with shovels. Milton asked why they were using shovels and not bulldozers. The official said this method created more jobs, to which Milton replied, Why not make them use spoons?

The notion that technological advances are "bad" includes the use of technological advances, such as shovels or some sort of filing system by a clerk whom an ATM "replaced." Also inherent in that assumption is this romanticism of the technology from yesteryear, but not too far back or too current. Just that technology in the middle, "when there were the good times."

The Forgotten Paul

This video was all over the place yesterday, so I'm a little late. But if you haven't seen it, give it a view. Jon Stewart justly calls out the media on seemingly ignoring Ron Paul.

The Cardiff Kook

So this sculpture of a surfer in Cardiff (northern San Diego) is routinely made fun of. I heard about it on the news after the latest prank with the pterodactyl. While the surfer's pose is rather ridiculous and appears to not even be riding a wave, there seems to be a very active pranking scene that perhaps makes it all worthwhile. Check out all the pics on this site dedicated to recording them.

Wife Sales

This working paper entitled "Wife Sales" by some Mercatus Center scholars has (obviously) attracted some attention on places like a Forbes blog and other econ blogs, such as the Freakonomics blog. Give it a read or at least a perusal in order to get past the initial shock of the title and perhaps see what they are trying to say.

Here's the Abstract:

For over a century English husbands sold their wives at public auctions. We argue
that wife sales were indirect Coasean divorce bargains that permitted wives to buy the
right to exit marriage from their husbands in a legal environment that denied them
the property rights required to buy that right directly. Wife-sale auctions identifi…ed
"suitors"--men who valued unhappy wives more than their current husbands, who
unhappy wives valued more than their current husbands, and who had the property
rights required to buy unhappy wives' right to exit marriage from their husbands. These
suitors enabled spouses in inefficient marriages to dissolve their marriages where direct
Coasean divorce bargains between them were impossible. Wife sales were an efficiency-
enhancing institutional response to the unusual constellation of property rights that
Industrial Revolution-era English law created. They made husbands, suitors, and wives
better off.

This Blew My Mind

Found this link on reddit.

Pencil art by Dalton Ghetti.

"The System Works"

I think Charles gets it right in his article "The System Works."

Some highlights:

"Of all the endlessly repeated conventional wisdom in today’s Washington, the most lazy, stupid, and ubiquitous is that our politics is broken. On the contrary. Our political system is working well (I make no such claims for our economy), indeed, precisely as designed — profound changes in popular will translated into law that alters the nation’s political direction."

"The conventional complaint is that the process was ugly. Big deal. You want beauty? Go to a museum. Democratic politics was never meant to be an exercise in aesthetics."

Read any American presidential/political biography from any time and you will read about name calling, bickering, all that stuff. There was no "happy time" in politics. People are always fighting about this stuff. Peacefully fighting, that is.

Gridlock also prevents stupid decisions from being made. Or at least gives us time to analyze them if we wish and then enter the debate before they are whisked on through onto the books.

Bad News, Burdened Position

Today, the headlines are not that great for the world or US.

The market has only been open an hour and the DOW is already down 391 points as of 10:30AM EST.

I still find it hard to believe that 30 service members were killed in a single, seemingly lucky shot incident in Afghanistan.

Of course there was the downgrade of American bonds by S&P from AAA to AA+ (which in the grand scheme of things is not a junk bond).

This report from CNBC cites incidents of unrest all around the world.

President Obama's name is mentioned in nearly every article, and I can only imagine how he feels right now. Apparently his approval ratings are falling too. I assume he is in a dark place about it all and therefore needs our prayers.

John Kerry's Call for Speech Limitation

"Sen. John Kerry (D-MA) told MSNBC's "Morning Joe" on Friday that the media has the responsibility to not give equal time or credence to the Tea Party's views."

Sure, some outlets can limit what they allow certain people to say, that is their choice. Just to hear a call from a senator for limiting the dialogue about ideas in the name of not confusing the poor bewildered populace is a little troubling.

North Korea's Website

Ever been to North Korea's website? If not, it's worth poking around. The format also appears to not have been updated for awhile. I found the nuggets below in the website's section on business in North Korea. The Independent also has this photo gallery of life in Pyongyang.

"The DPR of Korea (North Korea) will become in the next years the most important hub for trading in North-East Asia."

"Highly qualified, loyal and motivated personnel. Education, housing and health service is provided free to all citizens. As opposed to other Asian countries, worker's will not abandon their positions for higher salaries once they are trained."

If NK is so great for business, why isn't there any business there? Also, why does it look like this at night if things are so great?