There was a time when an element of the Labour party was Methodist in a non cocaine, stealing money, and rent boy sense.
– Paul Marks
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“Those soaring incomes of the top 0.01% are only going to apply to those very few indeed who can make that leap from performing on the national to the global stage. And there’s really not enough of such people that I think it’s something that we’ve got to worry about. 0.01% of the US population is, for example, 3,000 people. Seriously, what does it actually matter to the rest of us what they earn? Especially as they’re not earning it by moving from taking 10 cents each to a $1 each off each of us 300 million, they’re doing it by moving from taking that same 10 cents each of each of us and then making up the other 90 cents by taking fractions off the other 7 billion people on the planet. As I say, this isn’t a foolproof, watertight, explanation of what’s going on. But now we’re seeing that it is the top 0.01% taking that extra income the evidence is at least consistent with my explanation. That it’s all being driven by globalisation: and as such there’s not a dang thing we want to do about it.” – Tim Worstall. Yes, you may have noticed that I spell globalisation with an s, not a z. Pax Americana hasn’t yet spread to my London-based laptop. One of the most encouraging things happening to the British pro-free-market and libertarian movement is the outreach work being done by the Institute of Economic Affairs, to students at British universities and in British schools. In this IEATV video Steven Davies and Christiana Hambro describe what they have been getting up to in this area. They are a bit stilted in their delivery and demeanour. Steve Davies in particular is a rather more relaxed, animated and persuasive public performer than this short video makes him seem. I get the feeling that there were retakes, as they negotiated car doors and seatbelts when on camera. But if any of this inclines you to be put off, don’t be, because the process these two excellent people are talking about in this video is definitely the genuine article. They mention the Freedom Forum. This has, says Davies “rapidly become the biggest gathering of pro-liberty students and young people in the UK”. The latest iteration of this, Liberty League Freedom Forum 2014, is happening next weekend and its detailed timetable has just been announced. If this get-together was just a one-off annual event with nothing else related to it happening, that would definitely still be something, although I do agree with those who say that the title of these things is a bit of a mouthful. But LLFF2014 is a great deal more than just an annual event, being but the London manifestation of a much bigger program of intellectual and ideological outreach to universities and to schools throughout the UK. Recently I dropped in at the IEA, where Christiana Hambro and her IEA colleague Grant Tucker made time to tell me in person about what they have been doing. I also picked their about people who might be good to invite to talk at my last-Friday-of-the-month meetings. For me, the most interesting thing that they said to me was in answer to my question concerning to what extent their outreach activities were piggy-backing on the earlier efforts of the Adam Smith Institute, efforts which have been going on for many years, under the leadership of ASI President Madsen Pirie. What Christiana Hambro and Grant Tucker said was that when it came to outreach to universities, then yes, their work does depend on earlier ASI efforts. University economics departments are tough nuts to crack open with contrary ideas, and the best way to get to universities is by working with free market and libertarian student societies, rather than relying on the intellectual hospitality of academics. The ASI has done a huge amount to encourage such groups over the years, and without such groups what the IEA is now doing in universities would have been harder to accomplish. But in schools, it has been a very different story. The ASI has done plenty of work in schools as well over the years, but what Christiana Hambro and Grant Tucker said to me was that basically, in schools, the IEA’s outreach operation is basically operating in virgin territory, with economics pupils all of whom have heard of Keynes, for instance, but none of whom have ever heard of Hayek. Another way of putting that might be to say that when it comes to preaching free market economics to British schools, this is a town that is plenty big enough for the both of them. Schools are also different from universities in often being much more open to different ideas than universities are. Universities are dominated by people who take ideas seriously, but this can have the paradoxical result that many universities and university departments become bastions of bias and groupthink, all about deciding what is true and then defending it against all heretical comers. Schools, on the other hand, some at least, are more concerned to persuade their often indifferent pupils to care, at all, about ideas of any kind, which, again rather paradoxically, makes many such schools far more open to unfamiliar ideas than many universities. A teacher may be a devout Keynesian, even a Marxist. But if these IEA people from London can help him stir up his pupils’ minds by showing economics to be an arena of urgent and contemporary intellectual and ideological conflict rather than merely a huge stack of dull facts mostly about the past, then he is liable to be very grateful to these intruders, even if he flatly disagrees with their particular way of thinking. Present at this Liberty League Freedom Forum that is coming up next weekend, which I will be attending (just as I attended LLFF2013 last year), will be some of the products of all this outreach. Someone like me has heard most of the featured speakers before, some of them many times. But many of the people at LLFF2014 will be hearing talks from people only a very few of whom they have ever encountered before. Here are some of the topics which they may find themselves learning about: Public Speaking and Networking, Doing Virtuous Business, How To Be A Journalist, and (my personal favourite) Setting Up A Society (i.e. a school or university pro-liberty society). As for me, no matter how many times I hear Steve Davies speak, I am always keen to hear what he has to say about something new, and this year, I am particularly looking forward to him answering the question: “But who will build the roads?” In my opinion, when Libertaria finally gets going, somewhere on this planet, defence policy (often regarded as a big headache) will be very simple. Just allow the citizens of Libertaria to arm themselves. But, building “infrastructure”, while nevertheless taking property rights seriously (instead of merely taking seriously the idea of taking people’s property from them to make infrastructure) will, I think, be much more tricky. I look forward very much to hearing what Davies has to say about this. Too bad that his talk clashes with the one about Setting Up A Society. I’d love to sit in at the back of that one also, and maybe I will pick that one on the day. That such clashes will happen is my one regret about this event. But you can see why they want to do things this way. As well as big gatherings, they also want small ones, in which new talent feels more comfortable about expressing itself, and flagging itself up as worth networking with, by other talent. I recall writing a blog posting here a while back, in which I described a talk I heard the IEA’s then newly appointed Director Mark Littlewood about his plans for the IEA. Right near the end of that piece, which I think still stands up very well, I wrote that: “there is now considerable reason to be optimistic about the future of the Institute of Economic Affairs”. There still is, and even more so. I am reading Pride and Prejudice, annotated by David M. Stoppard. It’s the part of the novel where Elizabeth is starting to figure out that Darcy might be an all right bloke after all. Mrs Gardiner and Darcy’s housekeeper are discussing him:
Note 34 reads:
Shortly after, and related:
Note 37 reads:
So it turns out that it is not the case that the state is the only thing standing in the way of the rich laughing as the poor starve. And poor harvests? Thanks to globalisation, the “poor” have it easy now-a-days. The subject of Russia has been on many peoples minds ever since the shenanigans started happening in the Crimea. Russia needs to be taken ‘seriously’ but please people, they ain’t Nazi Germany circa 1935. They are a busted flush. Ukraine? Yeah, unfortunate but history does not apportion its favours with kindness. If they try the same in the Baltics, well sure, lets go to war with them. No kidding. Seriously, lets rip Russia a new one. Oh and Poland says “Thanks for giving us Kaliningrad, Vladimir! Or as it will henceforth be known, Królewiec!” But I doubt that is how it will play out, because I think Putin is not even nearly that delusional. Even if the USA picked up its toys and went home in a huff, which they won’t I might add, more’s the pity for the hapless US taxpayer, the effete dissipated welfare addicted gender quota apportioned peoples of Europe that dwell so prominently in the imaginations of Real Men From Texas (or wherever), are actually quite capable of keeping the Russian Hordes, in their rust covered jalopies with siphoned fuel tanks, from sweeping across the steppes and threatening to once again park themselves somewhere near the Fulda Gap, presumably out of nostalgia for a place with half decent food. Russia… big dick, but no shoes. I have often said the difference between British and American arrogance is the Brits think they run the world, the Americans think they are the world. Yet somehow the world will bumble along even if either don’t get involved with spanking Putin. The US should just fixate the collective paranoia on China because that actually is something of a Good Old Fashioned Looming Threat, of the kind much loved by people like Boeing and Lockheed. The only thing the West needs to do to see the final end of Russia as the historical threat it has always been is… do nothing. Talk a bit, posture a bit, make a few disapproving clucking sounds when Putin has one of his bare shirted Mussolini cosplay days, but essentially… do nothing. Just wait and watch. Russia’s catastrophic demographics and fragile resource based economics are doing everything the West needs. One of the many ways in which the debate about “climate change” (as the climate catastrophists now describe their catastrophic and catastrophically silly opinions) is that those on the side of the free market who publicly surrendered to the climate catastrophists (back in the days when “climate change” was still known as “global warming”) are seeking to renegotiate their original surrender. Most of us free marketeers started out reckoning that there might be something in all this Global Warming talk. At first we were ready to believe what we did not want to believe. But then we looked into it a bit, and we then concluded that what we wanted to believe was what we actually did believe, and now do believe with ever growing conviction. Climate catastrophism was and continues to be made-up nonsense. It was and is driven: by anti-capitalist lefties who found a substitute for their fading fantasy of mass human immiseration in another fantasy about an immiserated environment; by corrupted scientists looking to keep on feeding at the public trough; by corrupt businessmen ditto and on a far grander scale; and by media people looking for catastrophic headlines to grab attention, sell newspapers and boost hit-rates. With lots of overlap between these various categories, and probably with several more categories that I have temporarily forgotten about. But a few free marketeers, either for tactical reasons or out of genuine conviction, continued to trust the climate catastrophists. One such was Tim Worstall, who now writes, at the Adam Smith Institute blog:
Or rather, that is what Worstall said at the start of his piece, but from which he then immediately starts to retreat. For his next sentence reads as follows:
He then quotes from the Wall Street Journal, on the subject of the latest pronouncement from the United Nations’ Intergovernmental Panel on Climate Change:
In other words, the “climate orthodoxy” used to be that there was going to be a climate catastrophe, very soon, and people like Worstall said: Okay, so what do we do? But now, the more honest among the climate scientists, hammered away at for the last decade and more by their “climate skeptic” critics, are instead admitting that their precious catastrophe is, to put it mildly, unproven. There will be no catastrophe very soon, they now concede, and very possibly no catastrophe at all. We don’t know, really. Which is exactly what that debate that Worstall says has been so “sterile” has been all about. It is understandable that Worstall wants to declare that a vitally important argument, full of sound and fury and signifying a hell of a lot, that he picked the wrong side of and has stayed on the wrong side of, year after year, was “sterile”, but this need not impress anyone else. Finally, Tim Worstall has got the information. Should the rest of us climate skeptics welcome Worstall, and all the other ex-swallowers of or ex-believers in immediate climate catastrophe, into the land of the sane, or continue to sneer at such people for having been so wrong for so long? Personally, as you can see, I choose to indulge in a little sneering. But I also note that this hideously belated and still absurdly muddled admission of error by Tim Worstall is yet one more sign that this highly significant debate continues to move in the right direction. The debate isn’t moving fast enough to save the world a huge slice of its wealth, with much more squandering to come. But, every little helps. Here is an excellent piece from The Libertarian about how to think about what is going on with Russia, Ukraine, etc, and the response to it of various people, including those who fall into the trap of “my enemy’s enemy is my friend” fallacy. Other fallacies are addressed such as “who are we to judge X?” and “it’s just not our business” positions.
He is talking about the FCA’s recent impact on the UK insurance industry. Not exactly stellar performances from the regulator. But then with all such bureaucracies, the “mission-creep” problem exists. Dragons are sought to be killed, mountains are built to be climbed. The FCA, like its counterparts in most other developed nations, is constantly looking to “consult” on new initiatives, such as cracking down on such naughtiness as “peer-to-peer” lending and crowdfunding; its recent regulatory overhaul on the UK wealth management sector, through what is called the Retail Distribution Review, has led a number of firms to drastically increase the minimum sums of assets a potential client must have to be taken on, creating what is called the “financial orphan” problem. The FCA’s predecessor, the Financial Services Authority (part of that organisation’s powers were sent back to the Bank of England by the current UK government about two years’ ago) was not particularly prescient or effective in heading off the sub-prime debt disaster, although no doubt some of its officials had worries. The issue, as Allister Heath says, to remember about such organisations is not to single out individuals for wrath; some of them are highly intelligent and diligent people. I think it was Hayek or Friedman (Milton) who cautioned champions of free markets against the ad hominem fallacy of bashing civil servants. Rather, they said, if you create bodies with sweeping powers, and create incentive structures for empire-building, then this is the sort of problem you get. To take a different case, look at how the US War on Drugs, and greater budgetary powers, has led to the militarisation of US police. The problem with the FCA is that it exists. Had we stuck to an order where laws were strictly enforced against force and fraud, and where people were enjoined to remember “let the buyer beware”, rather than treat consumers of financial services as nervous children, we’d be a lot better off. Yes, financial services can be complex, and yes, some of them sound very odd (try explaining financial derivatives to your average Joe). But in general terms there is no more reason why sales of such services should require any more state oversight than the sale of groceries or bathroom fittings. Christian Street Preacher John Craven Receives £13,000 For Wrongful Arrest Over ‘Anti-Gay’ Comments
The police and their pals in the BBC try to spin the story as being mainly about how the police treated him in the cells. The conduct of our diversity-trained defenders of human rights towards a rheumatic old geezer with a public commitment to turning the other cheek was certainly worthy of notice. But it was also what they wanted you to notice. The police do not really mind being publicly repentant about neglecting to give a non-violent prisoner food, water or his medication for fifteen hours. No problem. Give the rozzers concerned a slap on the wrist, announce “mistakes were made” and “lessons will be learned”, and make yourselves another cup of tea. The unacceptable behaviour on the part of the police that the force as an institution would prefer to mumble about when asked if it has learned its lesson is this:
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