We are developing the social individualist meta-context for the future. From the very serious to the extremely frivolous... lets see what is on the mind of the Samizdata people.
Samizdata, derived from Samizdat /n. - a system of clandestine publication of banned literature in the USSR [Russ.,= self-publishing house]
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Alfred Marshall’s grand vision of economics was that you did the maths to check your logic. Then you translated all of that into English and burnt the maths. Steve Keen won’t do it that way for of course Marshall was a neoclassical and that’s just wrong, see?
Keen did once try to insist that I followed along with one of his papers – he was showing that there are no free markets, there are only oligopolies and therefore everything must be controlled by politics – and was most put out when I said well, yes, that’s mathematically true but useless.
For his contention was that as we’ve never got an infinite number of producers (nor consumers) therefore that model of free markets – which relies upon no individual producer or consumer having pricing power, which in itself implies an infinite number – therefore neoclassical economics was all wet. His maths was fine for that’s all true too. Except for the bit where if we analyse markets which we know are oligopolistic and then see how many producers we need for them not to be then the number seems to be about 5 or 6. True, true, 7 supermarkets doesn’t mean a wholly perfectly free market with profits no higher than the cost of capital but it’s pretty damn close. Close enough for either jazz or the economics of public policy.
The maths is for working through the logic not a replacement for it.
– Tim Worstall
Farage wants healthcare more like France, Netherlands or Switzerland, which all have a varying degree of insurance element. NHS was always a terrible way to do healthcare, which is why rest of Europe didn’t copy it
So, is it not ironic Reform party are open to at least exploring that kind of system, whereas the supposedly pro-European anti-Brexiteer elements who most depreciate Farage get the vapours at the notion of a more European healthcare system for the UK? 🤣
As AJP Taylor once wrote, “until August 1914 a sensible, law-abiding Englishman could pass through life and hardly notice the existence of the state beyond the post office and the policeman”.
That is emphatically not the case today. Having won the wars, the advocates of freedom comprehensively lost the peace. They lost to such a degree that those of us born and raised afterwards find it hard to comprehend the scale of the change.
It’s easiest to start with the size of the state. To be sure, socialism in Britain has receded from its high point. The nationalisation of coal, iron, steel, electricity, gas, roads, aviation, telecommunications, and railways has been mostly undone, although steel and rail are on the way back in.
But by comparison to our pre-war starting point, we live in a nearly unrecognisable country. In 1913, taxes and spending took up around 8 per cent of GDP. Today, they account for 35 per cent and 45 per cent respectively. To put it another way, almost half of all economic activity in Britain involves funds allocated at the behest of the government, and over half of British adults rely on the state for major parts of their income.
And if anything, this understates the degree of government control. Outcomes which are nominally left to the market are rigged by a state which sees prices as less as a way for markets to clear, and more as a tool for social engineering.
– Sam Ashworth-Hayes (£)
So, why did we stop this taxation of “excessive” pensions pots? Because it lost revenue. It took tax rates well over the Laffer Curve peak if you prefer.
So, what’s Ms. Rayner, Labour’s Deputy Prime Minister, suggesting today? That we reimpose a policy that we already know fails.
Idiot’s a bit mild really, isn’t it? Also, it’s rather a pity that Googlebombs don’t work these days.
– Tim Worstall
“Labour seems to think the British economic renaissance is going to be rebuilt on minor changes to a food and drink trade that amounts to 2-3 per cent of our exports, yet if it really believed this, why is it killing family farms and making them erect solar panels instead?”
– David Frost, former chief Brexit negotiator in the former Tory government, writing about the sellout deal that UK prime minister Sir Keir Starmer agreed with the EU at the weekend. The deal effectively puts the UK back into the EU Single Market on farming and food; it also gives a number of concessions that, even if they don’t completely reverse the UK’s independence from the EU, make a number of steps in that direction. This is one of those cases where the devil is in the detail. Like Lord (David) Frost, I want the UK to go for mutual recognition of trade standards, which is what sovereign nation states, such as New Zealand, already do without fuss. Apparently, this is outside the mental universe of Brussels negotiators and the UK government.
The reference in the quote above is to the policy of the current Labour government to impose inheritance tax on family-run farms, a measure that will force a number of these farmers’ families to sell up, possibly selling out to energy companies instead.
From where I stand, it seems pretty clear that Starmer wants to reverse Brexit, even if it falls short of formal re-entry into the EU.
The idea that the British government should subsidise an American mine is pretty weird. Very weird even. But it does seem to be about to happen.
[…]
To the extent that we’ve got a scandium expert lying around I’m it. Niocorp isn’t going to work. But the British government, using your and my money, is eager to invest in it?
Why can’t they leave us just to piss away our own money in our own ways? Why this insistence upon doing it wholesale on obvious disasters?
– Tim Worstall
The biggest reduction we ever enjoyed in our electricity costs was after the newly privatised electricity industry installed gas power stations across the UK. It halved our electricity costs. The biggest increase we’ve ever seen was after the Government imposed “green” ideology on the electricity industry. It has tripled our electricity costs so far.
So as with every statement made by the UK Government about energy, this one is wrong. Shutting down our oil and gas exploration, and increasing taxes on existing production, makes us poorer.
– Richard Lyon
The wealthy don’t protest. They exit.
– Alessandro Palombo
Our diagnosis is that what really worries The Guardian here [about Argentina] is that this will all work. For where would the progressives be if classical liberalism were shown – once again – to work?
– Tim Worstall
Before it’s possible to suggest a solution to a problem, it’s necessary to grasp the root cause of the problem itself. A sort of Reverse Chesterton’s Fence exercise.
So, what has gone wrong? As we never tire of repeating it’s the Town and Country Planning Act 1947 and successors. That is, for the past 78 years we’ve had that coherent national plan. With a long term vision. Run by the Rolls Royce minds of the Men in Whitehall who know best. Which is how we’ve ended up with the output we’ve got, something that would disgrace a Trabant factory.
As it is national control of planning – the TCPA really does define who may build what where, is the nationalisation of land use – that is the problem then the solution is to get rid of what caused the problem. Blow up the TCPA, proper blow up – kablooie.
– Tim Worstall
The actual argument being made is that British actors, tax breaks, directors, scriptwriters, lovely Cotswold villages (and in the case of Bridgerton, the street outside my flat) are just such wonderful places to film, film with, that prices are rising. Therefore we’ve got to subsidise all this.
The only reason we listen to fuckwits like this is because they’re pretty. Now, honestly, hands up. Who has ever known a pretty bird, handsome man, who can actually think? Even, actually has the base data to be able to think with?
No, no, it’s not that the leavening of IQ and looks equals out over genes. Quite the opposite. Dullards in the sense of actual cretins and morons tend not to look good either. But the good looking have never had to think now, have they? So, they don’t.
– Tim Worstall
Democracy tends towards protectionism when those harmed by free trade are numerous enough to count. But democracy also demands cheap goods. No one has yet squared that circle.
– Robert Tombs
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Who Are We? The Samizdata people are a bunch of sinister and heavily armed globalist illuminati who seek to infect the entire world with the values of personal liberty and several property. Amongst our many crimes is a sense of humour and the intermittent use of British spelling.
We are also a varied group made up of social individualists, classical liberals, whigs, libertarians, extropians, futurists, ‘Porcupines’, Karl Popper fetishists, recovering neo-conservatives, crazed Ayn Rand worshipers, over-caffeinated Virginia Postrel devotees, witty Frédéric Bastiat wannabes, cypherpunks, minarchists, kritarchists and wild-eyed anarcho-capitalists from Britain, North America, Australia and Europe.
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