In one post:
I do, however, believe in government capture.
Next post:
I have been musing on the extent to which the world can now afford the inefficiency of markets. Can we really afford excess capacity anymore?
He’d not even recognise the tension between those two, would he?
‘I do, however, believe in government capture.’
Capture by who? Xí Jìnpíng??
I’d always presumed he was in favour of government capture. He certainly demands enough of it.
So where’s the tension?
Markets deal with excess capacity because when there is a glut of something the price comes down and makes it less profitable to produce. This is pretty basic isn’t it?
So, no slack in that there supply chain? Sounds like planning for failure.
I have been musing on the extent to which the world can now afford the inefficiency of markets.
One of the most unintentionally hilarious sentences I’ve read it quite a while.
I have been musing on the extent to which the world can now afford the inefficiency of markets.
How to say “I’m a clueless, self-aggrandizing twat” without saying “I’m a clueless, self-aggrandizing twat”.
Tim, OT have you watched this film about money over at the Cobden Centre yet? Samizdata have put a link up on their site, no comments there yet.
https://www.cobdencentre.org/2023/08/ex-nihilo-the-truth-about-money-documentary-released/
He’s not comic, he’s hilarious.
And tragic due to his complete lack of self awareness, not helped by the circle jerkers on his blog.
@ Ludwig von Sneezes
I posted a tactful comment to correct “John in Cheshire” which fails to appear.
Not a good sign
@Stonyground
And don’t forget that markets also may make use of the glut because the lower price may make more uses of the product econonical.
Yes. Markets are far from perfect but the laws of supply and demand mean that they react pretty quickly to unexpected changes. Far quicker than when the government is trying to control things.
I remember someone telling a tale about abolishing rationing in post war Germany. One minister said that rationing should be maintained as there were still shortages. The other minister pointed out that the shortages were being caused by the rationing. Government regulation was the problem and not the answer.
Was just reading Gaidar’s article about his using the market to solve the shortages in post-communist Russia.
They vanished of course.
But the value of peoples’ savings also dropped catastrophically. That’s what happens when you print too much money.
Tim
You missed an all Time Classic in his article on Christie Hynde:
Older age is for the chain gang of those relentlessly pursuing a better life for those to come:
A life of complete state control with no freedom To travel Or consume other than at that state’s behest is for him ‘a better life’ – what an absolute blowhard. Pure evil.