Category Archives: Economics

Superabundance

We are entering an age of plenty, say authors Marian Tupy and Gale Pooley

The video of the discussion between Dr. Jordan Peterson and the authors of the book with this title is here.

Marian Tupy and Gale Pooley are co-authors of the new book, “Super Abundance”. They sit down with Dr Jordan B Peterson to discuss their studies into overpopulation, the myths surrounding the subject, and how academia has created a new philosophy that demonizes modern man simply for existing.

Marian Tupy is the co-author of “Super Abundance”, as well as “10 Global Trends Every Smart Person Should Know” and “The Simon Abundance Index”. He is the current editor of humanprogress.org, and is a senior fellow at the center for global liberty and prosperity.

Gale Pooley is the co-author of “Super Abundance,” and is also an Associate Professor of business management at Brigham Young University in Hawaii. He has taught economics all over the world, and earned his PHD from the University of Idaho. He is also well known for his role in the development of the Simon Abundance Index.

New definition of socialism

A recent Orwellian change in the Oxford English Dictionary

I’ve just learnt that at some point at or before 13th January 2019, the OED added some interesting words to its definition of the word “socialism”.

According an entry in Kristen R. Ghodsee’s blog, dated 13th January 2019, this is how the OED defines socialism (emphasis added by me, PwG):

“Frequently with capital initial. A theory or system of social organization based on state or collective ownership and regulation of the means of production, distribution, and exchange for the common benefit of all members of society; advocacy or practice of such a system, esp. as a political movement. Now also: any of various systems of liberal social democracy which retain a commitment to social justice and social reform, or feature some degree of state intervention in the running of the economy.”

When exactly did that “now” of the “now also” happen?

It’s quite obvious what has happened, and why. Believers in socialism have still not accepted that their path to paradise has failed miserably, abysmally. So they want to rescue their idea by stowing away on “liberal social democracy”. It’s no secret that left-wing types are heavily overrepresented in academia. They will have had the clout to get that change done.

Secondly, this is a great way to bring in socialism back in again through the back door. First change the definition, then have as many people as possible campaign for “social justice” and “social reform” and more “state interventionism”. In the meantime scoffing baselessly at anyone who shows that these concepts will necessarily lead to socialism. At some point in the future, when it is deemed safe to do so, declare openly that all those campaigners are really demanding socialism – just refer to the OED! And then demand its full implementation.

Lockdown and the price of suppressing dissent

In times of crisis, we need more debate – not less

Article by Fraser Myers

Excerpts:

This week, we learned that this shushing of debate and silencing of questions went right to the top of government. Speaking to the Spectator, former chancellor Rishi Sunak claims that even he was unable to get a hearing for his concerns about lockdown.

An omerta on lockdown harms was quickly established in the spring of 2020. Ministers were told not to talk publicly about potential trade-offs. According to Sunak: ‘The script was, oh, there’s no trade-off, because doing this for our health is good for the economy.’

[…]

Although there was an apparent consensus in SAGE in favour of lockdown, Sunak says this isn’t the whole truth. When difficult questions or disagreements were raised in the scientists’ meetings, these were simply edited out of the minutes before they reached ministers. Dissent was excised. It is only because Sunak had a Treasury official listen in to the SAGE calls that he knew there was often a great deal of disagreement and uncertainty among the scientists.

[…]

Many opponents of lockdown suspected that SAGE was being overly alarmist throughout the pandemic, and this was confirmed beyond any doubt in December 2021, when the government defied SAGE’s recommendations and refused to implement new restrictions. A predicted bloodbath of 6,000 deaths per day simply did not materialise.

Throughout the pandemic, the government and the scientists tried to hide their uncertainty. The media demonised dissenters and Big Tech cracked down on them. All of this was apparently to the end of showing a unified front, preserving the integrity of science and pushing a singular, easy-to-follow public-health message. We were essentially told that in times of crisis it is better to put up and shut up than to undermine the authorities.

But look where that has got us. An economic crisis, a health-service crisis and an education crisis are now engulfing the nation – all of which were, at least in part, fuelled by lockdown. We are standing in the smouldering wreckage of our elites’ terrible decisions. We have paid a heavy price indeed for suppressing debate and dissent.

Why Britain’s water industry stinks

The sewage crisis is a damning indictment of the water firms and our state bureaucracy.

Article by James Woudhuysen, who is visiting professor of forecasting and innovation at London South Bank University.

Excerpts:

The smell around the water firms could hardly be more pungent. At the same time as they dump effluent into our rivers, the chief execs are earning hundreds of thousands of pounds in bonuses alone. They can even top up these salaries by sitting on the boards of each other’s companies.

So how did we get here? The blame cannot be placed on the water companies alone. The corporate failures are undoubtedly legion. But they have been compounded by an opaque web of state regulators and non-governmental organisations who also manage and monitor the water industry.

[…]

One thing that binds the regulators and the water companies together, and more or less ensures that problems go unsolved and the public’s needs are ignored, is an obsession with climate change.

The corporate water sharks and the bureaucrats agree that climate change is at the root of all evil. And as we have seen recently, both dry spells and heavy rain can be blamed on climate change. Regulators and companies tell us to save water when it’s dry – because of climate change. And then when it suddenly gets wet, the sewage overflows are also our fault – because we’ve failed to do our bit to stop climate change.

[…]

The first step to ending the outrage of sewage spewing into our waters is to reject this self-serving narrative, to reject the intimate relations between the state, water companies and environmentalists, and to hold all three fully to account. Britain’s bloated and ineffectual water bureaucracy – not climate change, nor the people – is the real problem here.

Back Off, Oh Masters of the Universe

Big corporations like Deloitte are leading us down the path to totalitarianism, says Jordan Peterson

Deloitte have produced a study about climate models and say that urgent action is needed. Psychologist and polymath Jordan Peterson has an appropriate answer.

A written version is here:

https://www.telegraph. co.uk/news/2022/08/15/peddlers-environmental-doom-have-shown-true-totalitarian-colours/ [close the gap between “telegraph.” and “co.uk”]

Excerpts:

And what will it take to do so? Here’s the most alarming part: nothing more than “a coordinated transition” that “will require governments, along with the financial services and technology sectors to catalyze, facilitate and accelerate progress; foster information flows across systems; and align individual incentives with collective goals.”

A clearer statement of totalitarian inclination could hardly be penned. 

The one thing the Deloitte models guarantee is that if we do what they recommend we will definitely be poorer than we would have been otherwise for an indefinite but hypothetically transitory period.

Yet any reduction in economic output (however “temporary” and “necessary”) will be purchased at the cost of the lives of those who are barely making it now. Period.

Why eco-alarmists are wrong about almost everything

The Great Barrier Reef is not dying, and the world is not coming to an end.

Article by Brendan O’Neill.

Excerpts:

The ‘somewhat surprising’ news about the reef’s good health – as one newspaper diplomatically describes it – is a very serious blow to the apocalyptic scaremongering of the eco-elites. 

[…]

Eco-alarmists aren’t only wrong about the death of Earth – they’re wrong about life on Earth right now. The message they constantly send is that everything is dire. The big, disgusting ‘human footprint’ on poor Mother Earth is causing heatwaves and storms and death on an unprecedented scale, they say. It is all so overblown. We are actually safer from nature’s violent whims than we have ever been. The number of people dying in natural calamities fell from around 500,000 a year in the 1920s to 14,000 in 2020. That’s a 96 per cent drop. The percentage of human beings living in poverty fell from more than 80 per cent at the start of the 19th century to less than 20 per cent in the 2010s. Deaths from disease and war have also declined dramatically in the modern era. Child labour, too. Life expectancy, meanwhile, has shot up. In Europe, it went from 34 years to 79 years between 1770 and 2019. That is, at the exact time that mankind was having industrial revolutions and allegedly being a plague on the planet, the health and prospects of humanity improved in a way our ancestors could only have dreamed of. It’s almost as if modernity is good for us.

We must never let the anti-industrial rage of the elites blind us to how brilliant our impact on the planet has been. We haven’t destroyed Earth – we have tamed it and civilised it; we have unlocked its secrets; we have transformed this wild and unpredictable ball in space into a planet that can happily host eight billion people, and more besides. Occasionally bleached coral is a very small price to pay for the liberation of humanity from death and drudgery, wouldn’t you say?

Of course things are far from perfect. We’re heading into a serious economic and energy crisis. It will hit the working classes in the West and the people of the South hardest of all. But this crisis is not an indictment of modern human society. On the contrary, it’s an indictment of the elites’ turn against modern human society. Decades of eco-doom-mongering, of fury against fossil fuels, of constant demands for a slowing down of economic growth and for a violent shrinking of the ‘human footprint’, have unquestionably helped to drag us into this worrying new reality of energy crisis and shortages. It isn’t the ‘human impact’ on the planet we should be worried about – it’s the establishment’s hostility to the ‘human impact’ on the planet. Mastery of nature is essential if we are to continue improving human life. It will also help us to look after nature itself, including its greatest wonders like the Great Barrier Reef.

Green Myths and Hard Realities: Sri Lanka as a Warning

What you get when you mindlessly hand over power to distant technocrats

Article by Joseph Solis-Mullen.

Excerpts:

With Sri Lanka’s short-lived green revolution of 2021 having quickly devolved into a real revolution just one year later, complete with the ouster of former president Gotabaya Rajapaksa’s incompetent and authoritarian government this past week, now is a good time to hammer home not only why the effort failed, but why so-called ESG (environmental, social, and governance) policies and the green energy movement more generally are hopeless and destructive wastes of time.

That modern life is totally reliant on carbon-emitting fossil fuels is no reason to lose one’s head. And even though human-caused climate change is a virtual certainty, that is no reason to mindlessly hand over power to distant technocrats who promise to fix anything if only given the authority to engage in their dubious to morally outrageous social-engineering projects. Nor is it any reason to plow money into so-called ESG funds, which are thinly veiled shams, featuring virtually the same equities as most general S&P index funds but with substantially higher fees.

[…]

Demand reliably produces supply. Already many entrepreneurs and corporations are pioneering devices that will help to mitigate or even reverse the effects of climate change. Things may get worse before they get better. I don’t know what the future holds, and neither does anyone else. Respecting the limitations of knowledge and of the human ability to control things is central to allowing free exchange, the foundation of the capitalism that has made us all richer and better off than we would otherwise have been. The alternative is looking like Sri Lanka.

“The successful reliance on voluntary activity”

What collectivism is destroying

In his “The Road to Serfdom”, the Austrian economist Friedrich August von Hayek (1899 – 1992) described the many virtues that the burgeoning collectivism was destroying:

“There is one aspect of the change in moral values brought about by the advance of collectivism which at the present time provides special food for thought. It is that the virtues which are held less and less in esteem and which consequently become rarer are precisely those on which the British people justly prided themselves and in which they were generally agreed to excel. The virtues possessed by Anglo-Saxons in a higher degree than most other people, excepting only a few of the smaller nations, like the Swiss and the Dutch, were independence and self-reliance, individual initiative and local responsibility, the successful reliance on voluntary activity, non-interference with one’s neighbour and tolerance of the different and queer, respect for custom and tradition, and a healthy suspicion of power and authority.”

What he doesn’t mention is that it was mainly churches that carried the voluntary activities.

Jordan Peterson’s message to CEOs

Ditch the evil, satanic "woke" stuff, the DIE and the ESG

He rains down fire, brimstone and pro-free market slaps in the face. He quotes Jesus to them: “From everyone who has been given much, much will be demanded; and from the one who has been entrusted with much, much more will be asked” (but then mistakenly seems to say that this is from the Sermon on the Mount – it’s not, it’s from Luke 12:48, but that’s just a minor quibble).

Here it is, the full 25 minutes in all their glory.

These farmers are fighting for us all

We are witnessing a global revolt against the irrationalism of the elites.

Article by Brendan O’Neill.

Excerpts:

It is truly bizarre that pressure is being put on farmers to cut back on emissions, which really means to produce less food. This captures just how entrenched, and unhinged, the cult of green thinking has become among the new elites. So much so that they now prefer to larp as saviours of the planet from a fantasy doom than they do to think carefully about how to generate enough food and wealth to ensure that everyone can flourish. This is where it becomes clear that the otherworldliness of our rulers is not only annoying and often free of fact and reason – it is dangerous, too. An elite that spends more time fantasising about an environmental Judgement Day than it does thinking about how to meet the needs of the population, which sees sunny weather as a sign from Gaia that we must sacrifice things like farming and food production to appease the angry gods of climate change, is an elite that has lost the moral plot. It is an elite that can no longer be trusted.

It isn’t only farmers who are rising up. And it isn’t only the Net Zero derangement that is concerning people. Dutch fishermen and truckers have joined Dutch farmers in solidarity. People in Ghana are protesting against shrinking fuel supplies and power cuts. Cab drivers in Italy are taking to the streets over fuel prices. Farmers and other workers in Poland, Spain and Albania are protesting, too. People are fuming over the cost-of-living crisis, the economic impact of lockdown and the glaring inability of the elites to provide for all. Worse, the glaring inability of the elites even to acknowledge that providing for all should be the priority of society, and that it should matter far more than their own self-indulgent fearful fantasies.

This is why the global farmers’ revolt and the rising up of working people really matters. These rebels are not only demanding that their right to work and to live comfortably should be respected. They are also brilliantly confronting the delusions of the elites, who have got so lost in narratives of fear around climate change, lockdown and everything else that they can no longer see what is real and what is important. The shattering of the elite’s luxury apocalypticism should be seen as one of the key tasks of the 2020s.