gives judges discretion and
encourages litigation, and which necessarily benefits the party with more
wealth who is more able to finance litigation. In the area of land-use,
such a circumstances almost always benefits the State as against individual
landowners. An unfortunate result.
David Shemano
and prosperity came to a horrific end. Unless we
act with complete success in the coming years, I think we may soon find out.
David Shemano
maintain the equilibrium you could
theoretically create by eliminating private property.
David Shemano
David S. writes:
I am trying to think this through. Let me summarize my understanding of the
discussion. Your original argument was that the elimination
even more material wealth? And is that not a constant across history,
culture, and economic system?
David Shemano
Ian Murray wrote:
Not that we need to embrace asceticism by any means, by why was/is
Buddha the exception and not the 'rule' in dealing with the psychology
of wealth?
I don't know. Maybe you should try an evolutionary psychology list. They
have an answer for everything.
David Shemano
who said something like capitalism is
judged by its results, but communism is judged by its promises. That never
seemed fair to me.
David Shemano
David,
I have been away for several days, and clearly
this thread has gone all over kingdom come. I also
understand
for their own
subsistence. If I was sitting on the jury, that is blindly running a red
light or worse.
David Shemano
In reply to Charles:
CB: You haven't proven the fact you assert.
If my facts were true, would it make any difference to you?
David Shemano
In reply to Charles:
CB: If your facts were false, would it make any difference to you ?
I would acquit Lenin of premeditated murder of the peasants if he did not
order the taking of the subsistence food. It would not change my overall
impression of Lenin and his rule.
Now you answer.
David
In reply to Charles:
CB: I would acquit Lenin of homicide on the defense of necessity. It
would not change my opinion of Lenin and his leadership.
Res ipsa loquitor.
David Shemano
to spend the additional 2% of GDP (let alone the
existing 5% of GDP), to reduce childhood poverty, or cleanup the
environment, or cut taxes. But that decision will not be allowed, because
of this generation's decisions. Where is the justice in that?
David Shemano
as:
Criminal homicide constitues murder when:
(a) it is committed purposely or knowingly; or
(b) it is committed recklessly under circumstances manifesting extreme
indifference to the value of human life.
David Shemano
-Original Message-
From: [EMAIL PROTECTED
.
David Shemano
?
David Shemano
can do is look at his actions, the consequences of
his actions, and then make a judgment.
So I ask again, why do you believe the deaths should be treated differently?
David Shemano
justification for his actions.
David Shemano
-Original Message-
From: [EMAIL PROTECTED]
[mailto:[EMAIL PROTECTED]]On Behalf Of Michael Perelman
Sent: Thursday, August 16, 2001 9:30 PM
To: [EMAIL PROTECTED]
Subject: [PEN-L:15958] Re: Re: Fw: The Fall of 'Challenge'?
David, have been
with you. But the
libertarian side of me believes that any proposed cure would be worse than
the disease.
If we eliminated lawyers, what would aggressive, argumentative, anal,
overeducated liberal arts types do?
David Shemano
reactionary, I have to ask, does this mean that the
anarchists do not do readings of Bastiat and Henry Hazlitt at their strategy
sessions?
David Shemano
-
The Broken Window
LET US BEGIN with the simplest illustration possible: let us, emulating
Bastiat, choose a broken pane of glass.
A young hoodlum
confronts us with the limitations on
the possibility of peaceful transition to democracy and reminds us of open
and violent conflicts that have preceded its establishment.
David Shemano
for Harvard students, he
said. I'm writing basically for Aristide and Hosni Mubarak and Gloria
Arroyo and Fox. Political leaders know this isn't a one-shot idea. They know
it amounts to a revolution.
David Shemano
and fall in response to shifts in supply and demand
curves, but they will not rise because of an increase in the unit of
account. What am I conflating?
David Shemano
happy to oblige.
What are the good reasons for not having a gold standard?
David Shemano
explain what I am misunderstanding.
David Shemano
. The problem is that the masses want bread and
circuses, but don't want to pay taxes. That puts great pressure on
governments to inflate the money supply, so governments do not like the gold
standard. The mechanism is the easy part.
David Shemano
Jim Devine writes:
I think one problem is that you seem to assume that capitalism is merely a
bunch of mutually-beneficial exchanges between individuals. This misses the
class and expansionary nature of capitalism.
Where did this come from and what does this have to do with the topic at
hand?
or the wrongness is not dependent on what I assume capitalism
is or is not.
David Shemano
from the money supply, and you can decrease interest rates
simply by pumping money into the system. If there is anything we have
learned over the past 30 years, it is that maybe you can fool lenders once
or twice, but you cannot do it as a sustained policy over time.
David Shemano
Doug Henwood writes:
How about some gold standard quotes from Das Kapital? I understand Karl
was
a bit of a gold-bug himself.
In vol. 1, yes. But in vol. 3, there's lots of juicy stuff about
credit. It's risky to get your Marx via Jude Wanniski.
manipulate interest rate
counter-cyclically to the strength/weakness of the economy. In other words,
the present Fed believes it should destroy the village in order to save it.
David Shemano
know something about economics.
David Shemano
the economy? A gold standard will stabilize the value of the
currency, which will help facilitate market transactions, but the economy
will still be subject to fiscal policy, regulatory policy, war, natural
disaster, technological change, revolution, etc.
David Shemano
of capitalism)?
David Shemano
relative to other
commodities. Remember, prior to 1971, when Nixon severed the link, there
was little price gyration in oil (or other commodities generally) remotely
comparable to what occurred after 1971.
David Shemano
love your phraseology -- you are in favor of
dispassionate long-term planning, while I am presumably against that and in
favor of emotional short-term anarchy. If that is the choice, I am 100% in
agreement with you. Now, about the details . . . .
David Shemano
supply was at the complete mercy of the limited
wisdom of fallible human beings, and we got the monetary chaos we have
experienced for the past 30 years.
David Shemano
.
David Shemano
does not allow for the
elasticity of credit that capitalism needs?
How about some gold standard quotes from Das Kapital? I understand Karl was
a bit of a gold-bug himself.
David Shemano
Regarding the prior and current discussion of Fed policy, the high dollar,
etc., please read the attached Jude Wanniski column from today entitled
Greenspan Undermines the AFL-CIO!!, the title of which alone may perk the
interest of some of you.
http://www.polyconomics.com/
years. Runaway slaves could not be
returned to the master. Slaves could not be worked on the Sabbath. It was
a crime to beat a slave to death. Certain physical harm resulted in the
slave being freed. There were no comparable laws in the Greco-Roman world.
David Shemano
to strenghten the dollar relative to other currencies.
David Shemano
of the unit of account. Conversely, if 50
apples were destroyed in a fire, the price would also increase to $2.00, but
that would not be, in my view, an example of monetary inflation, because the
price change reflects a change in the quantity of the actual goods and
services.
David Shemano
to conflate the two (increases and decreases
in the quantity of the unit of account as compared to increases and
decreases in the quantity of goods and services).
David Shemano
to stop it?
David Shemano
gardens? I mean, there are plenty of senior
citizens, but how many historic olive gardens do you come across?
David Shemano
Doing a quick Lexis search of Federal cases:
These principles, however, are not inconsistent with another one, equally
well settled, which is, that a liberal construction is to be given to a
patent, and inventors sustained, if practicable, without a departure from
sound principles. Only thus
invest in funds that short the market,
or gold, or other bearish funds? Where are the investment funds that are
based on an application of a Marxist economic analysis? Any funds that
invest primarily in Cuba?
Thanks,
David Shemano
will be the only companies with the financial resources to offer DSL
service. The competition to the Bells will have to come mainly from the
cable companies, and eventually DirecTV/Echostar if and when the technology
becomes feasible and cost-effective.
David Shemano
- Original Message
by the law that creates and regulates
markets and property in any specific context? I mean, if there is no law
defining property, how can there be capitalism? Does this make any sense?
David Shemano
Taxpayer's Union
q. Public Interest Economics Center
r. Ralph Nader's Congress Watch
s. Sears Roebuck Co.
t. Western Traffic Conference
David Shemano
just further evidence of
the alienation caused by capitalism, because it interposes a technological
intermediary that replaces direct interpersonal relationships. (I just made
that up, pretty good, huh?).
David Shemano
,
and Elliott Levitas (D-GA), the Congressman from Delta.) Who supported
deregulation? The capitalist intelligentsia and Ralph Nader? Again, if big
money controls, how did airline deregulation occur?
David Shemano
interest, which makes no sense either under a Marxian
analysis, or public choice theory.
David Shemano
is not afraid of deregulation, of
market entry. I cannot.
Charles C. Tillinghast Jr. of TWA, April 2, 1977.
David Shemano
as they see fit.
David Shemano
Sabri Oncu writes:
--
That is why I love American society -- both Michael Perelman and
rapacious investment bankers can find their place and lead their lives
primarily as they see fit.
David Shemano
This is probably the most absurd claim I have heard on this list. I
months ago in another context, I view economics as the means by
which we satisfy our desires. Neither economics nor economists have any
expertise in what I should desire.
David Shemano
that you are utopians and in your utopia
people help each other without expecting anything in return?
David Shemano
suggest. It's
not love but creativity and community that drive his utopia.
Edward Bellamy? Do you mean when the revolution comes, everything is going
to be rationalized and we are all going to be members of a great
industrial army? I can hardly wait.
David Shemano
.
--
What exactly is the point? If conventional economics predict an
uncomfortable result for a proposed act (e.g., if I offer to prostitute my
self for a low enough price, somebody will pay me), conventional economics
is wrong empirically? Is morally bad?
David Shemano
Himmm!
Good questions
for a low enough price, somebody will pay me), conventional economics
is wrong empirically? Is morally bad?
David Shemano
olders of the parent will
suffer.
David Shemano
.
David Shemano
the State --
think of the implications of that.
David Shemano
cars, but not auto manufacturing enterprises.
Private property in the basic or social means of production is a necessary
condition for exploitation.
-
I do not understand this. There is no division of labor or specialization
in a socialist state?
David Shemano
be
abolishing "private property" (if you define private property as the
ownership necessary to enormous division of labor and specialization.)
Thanks,
David Shemano
to assume the ladder and one to change the bulb.
See generally:
http://dir.yahoo.com/Entertainment/Humor/Jokes/Light_Bulb_Jokes/
David Shemano
Hate to disappoint you, but Queenan's on my side. Think of him as a P.J.
O'Rourke type, but even more cynical. He has been a contributor to The
American Spectator for years.
David Shemano
-Original Message-
From: [EMAIL PROTECTED]
[mailto:[EMAIL PROTECTED]]On Behalf Of ann li
Sent
are permitted to smile?
Question: How many Lefties does it take to change a
lightbulb?
Answer: That's not funny.
David Shemano
-Original Message-
From: [EMAIL PROTECTED]
[mailto:[EMAIL PROTECTED]]On Behalf Of Michael Perelman
Sent
ional disappointment.
David Shemano
evolution of law and all of
that. The next thing you are going to tell me is that Brown v. Board of
Education was wrongly decided because that wasn't what the authors of the
14th Amendment intended. :)
David Shemano
of
debtors to repay debt.
http://www.polyconomics.com/searchbase/03-14-01.html
http://www.nationalreview.com/comment/comment-darda031901.shtml
David Shemano
.
David Shemano
it? The Fed
or something else? What would cure it? Should it be cured?
Thanks. Now I feel better.
David Shemano
overcapacity crisis. Why do you think that it is necessarily monetary?
On Mon, Mar 19, 2001 at 09:27:56PM -0800, David Shemano wrote:
I hate to be crabby but I am working late and not enjoying it. Please
give
me your take on my original intended question, as now reformulated,
without
the capitalism
Jim Devine wrote:
I see that the US bankruptcy laws are being tightened, just in time to add
more force to a debt-deflation, it seems.
I wanted to ask David Shemano, our resident libertarian and bankruptcy
lawyer, what the point of bankruptcy protection was from a libertarian
perspective
Michael Perelman askes:
What are the limits put on corporate bankruptcy in the new law that is
afoot?
The new law barely addresses corporate bankruptcy -- it has been pushed
through by the credit card and personal finance companies. The only
substantive special interest change that affects
We call it Chapter 22. TWA made it to Chapter 33.
-Original Message-
From: [EMAIL PROTECTED]
[mailto:[EMAIL PROTECTED]]On Behalf Of Michael Perelman
Sent: Thursday, March 15, 2001 8:26 PM
To: [EMAIL PROTECTED]
Subject: [PEN-L:9059] Re: RE: RE: bankruptcy
I just saw an article
of
my brother counsel .
Based on the makeup of this jury, there is not a court in the land that
would agree that I could receive a fair trial.
David Shemano
xactly that -- goods -- and the
society needs to generate wealth to purchase those goods. Wealth creation
may not look orderly or tidy, but it is what it is and is absolutely
necessary in order to purchase those goods that you describe.
David Shemano
the
goose happy and well fed.
David Shemano
the entertainment room with the big-screen. That will never change, even if
the revolution comes. And probably explains why the revolution will never
come.
David Shemano
more growth than an end to hunger?
David Shemano
fit, and
abolish all public education.
Been fun today, but gotta run and help a deadbeat aviation repair shop
figure out how to stiff its creditors.
David Shemano
have been placed in the hands of people with little or no business
experience and nothing more than an idea. Most of these entrepreneurs will
fail, but some will survive and revolutionize our lives for the better.
There is no way any central planning board would ever approve what we are
witnessi
The best way is to let a 1000
flowers bloom and see what people determine is useful. You cannot have
progress without failure.
As I said several months ago, many on the Left seem in love with the idea of
a static economy/society. Doug's comment is Exhibit A.
David Shemano
han others, that doesn't bother me a bit. Equality of
result is not high on my priority list.
David Shemano
of contract
and property rights as the impediment to the poor.
David Shemano
The California Assembly failed to pass the utility bailout last night
because of lack of Republican support for rate increases. Does this mean
California lefties will be voting Republican in the next election?
http://www.newsday.com/ap/text/national/ap865.htm
David Shemano
The following is an interview with Hernando de Soto, the author of "The
Mystery of Capital: Why Capitalism Triumphs in the West and Fails Everywhere
Else": http://www.christianitytoday.com/bc/2001/001/6.24.html
Any general or specific critique would be appreciated.
David Shemano
native progress
indicators" (to the extent they can be isolated from GDP growth), what would
be your conclusion? Is there any better way to judge what people actually
value other than to observe migrations?
David Shemano
that you cannot examine migrations in a macro sense and obtain
valuable information regarding what people desire and value?
David Shemano
d wealth.
I suppose the bottom line is that Milken will be the Alger Hiss of his time
and will be argued about for generations based upon ideology.
David Shemano
of SLs. But don't confuse cause and
effect -- Milken and the junk bond market were not created by banking
deregulation, but deregulation did create a set of buyers of bonds.
David Shemano
available, which
means that the available pool of capital for entrepreneurs has been
dramatically increased.
David Shemano
arket, instead of buying shares off Drexel's
shelf at market price."
Michael, I understand you find Milken and his activities distasteful. But
this man was actually sent to prison and I would hope even left-wingers
would agree that a wealthy man should not be sent to prison without cause.
David Shemano
I should note that my best friend is friends with the Milkens. I don't know
Milken personally, but based on my friend's report and other reports,
Milken, while as financially sophisticated as anybody alive, is truly
politically and socially naive, extremely honest and believes in his social
missi
Michael --
Without arguing about what Milken actually did as opposed to what he was
accused of doing, give me a hypothetical example of how a pension fund, for
example, would have been harmed.
David Shemano
-Original Message-
From: [EMAIL PROTECTED]
[mailto:[EMAIL PROTECTED
capitalism. Hey,
this is a left-wing list -- who am I to argue about that?
But that was not my question. What did Milken, as opposed to every other
bond trader, do to justify imprisonment, or at least specific criticism?
David Shemano
-Original Message-
From: [EMAIL PROTECTED]
[mailto
. Milken acted as the broker in order to convince the investors that
there would always be a liquid market for the bonds.
Now tell me, what did Milken do wrong? You are being way too vague.
David Shemano
Michael --
All I am asking for is an example of how Milken did anything "fraudulent."
I am sure that there were unsavory people who invested with Milken, but that
should not be imputed to Milken. It was certainly not grounds to imprison
him.
On to the next topic.
Dav
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