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2 blog entries found. Displaying 1–2.

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Gordon Brown Doesn't Understand Economics

23
APR
After watching most of the two UK election debates these past two weeks, I've become infuriated with Gordon Brown because of his pathetic lack of understanding of economics. Brown has accused David Cameron — leader of the Conservatives — of planning to "take £6 billion out of the economy" by not implementing the NI increase and/or by cutting funding to public sector institutions. This is patently ridiculous. Gordon Brown seems to be oblivious to the (obvious) difference between the economy and the public sector (i.e. government funded sector). The £6 billion won't be going to the government, but that doesn't mean it just disappears. The £6 billion stays in the economy, just in private hands (where it should be).

Similar logic lies behind the idea of stimulus packages. A stimulus package is nothing more than a massive shift of money which would otherwise be spent according to the judgement of private individuals (it doesn't just disappear). A stimulus distorts the market by putting mo… continue reading

Free Tibet?

12
APR
Recently there has been a lot of news coverage surrounding the riots in China, where thugs supporting the campaign for Tibet's independence have been going around damaging private property and attacking completely innocent people. They have been doing this in protest against "human rights violations" commited by the Chinese communists since they took control of Tibet in the 1950s, and have seen much support from the West.

Now, before I begin to look like a supporter of the Chinese communists, I will say I am absolutely not. As an Objectivist and firm believer in the moral righteousness of laissez-faire capitalism, I hate communism and socialism in all its forms. My reasons for siding with the Chinese in this case in fact stems from my political ideas.

Prior to the Chinese occupation, Tibet was a slave society. Conditions for the majority of the population were abysmal as most lived in utter poverty, working for the ruling Lama class often without any pay whatsoever. Gruesome torture … continue reading
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