Monthly Archives: October 2009

Regulation of the Day 61: Big Screen TVs – Mankind’s Doom!

bi screen tv

On November 4, California regulators may vote to ban big-screen televisions. The large sets use more energy than they would prefer.

Commissioner Julia Levin claims the ban “will actually save consumers money and help the California economy grow and create new clean, sustainable jobs.”

It is easy to imagine the ban costing tv manufacturing jobs; less so the jobs that would take their place.

Fortunately, the ban isn’t terribly enforceable. Consumers can just drive to Arizona, Nevada, or Oregon to get the kind of tv they want.

A final point on semantics: what does “sustainable” even mean, anyway? It is a meaningless buzz term, right up there with “synergy” and “paradigm.” This decade’s equivalent of “social justice.”

If anything, use of the word “sustainable” signals that a person knows not of what they speak. If you’re unable to defend a proposal on the merits, just use fashionable buzz words that poll well.

Regulation of the Day 60: Hybrid Car Noise

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One advantage of hybrid cars is that they are quiet. Too quiet, some would say. Blind pedestrians may not hear a hybrid coming around the corner until it’s too late.

Car companies are responding to the concern by voluntarily outfitting their hybrid models with fake digital vrooms so pedestrians can hear them as well as conventional cars. There’s a reason car companies were so quick to respond to their customer’s wishes: it’s good for business. One more safety feature is one more selling point to entice potential customers.

Regulators, behind the curve as usual, have introduced the Pedestrian Safety Enhancement Act of 2009. If passed, it would make fake vrooms a federal matter. This policy of making mandatory what companies are doing anyway probably originated with the Department of Redundancy Department.

In Which My Colleague Drew Tidwell Hits a Home Run

“The increase in the world’s population represents our victory against death.”
-Julian Simon

Eloquently expressed in a minute and change.

Welcome to the New Site

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Welcome to the new version of Inertia Wins.

Not only does the site have its own .com now, but the layout looks much better. All the posts from the old site have been migrated over to this one, dating back to 2005.

The redesign is still a work in progress, and your comments and suggestions are welcome. If you like what you read, I hope you’ll check back often. If you use an RSS reader, please subscribe. I’ll keep this post bumped to the top of the page until all the changes are settled in. Thanks.

-Mgmt.

Regulation of the Day 59: Pharmacy Interns in Colorado

pharmacist
It is illegal to intern for a pharmacist in Colorado without a license. You can apply for one here.

Almost True

Steve Wynn raised a kerfuffle when he recently said that “Government has never increased the standard of living of one single human being in civilization’s history.”

This isn’t quite true. Former Rep. William Jefferson has at least 90,000 reasons to disagree.

Good People Do Good Things

Such as my friend and former colleague Joey Coon.

Markets and Special Interests

ludwig-von-mises
Detractors of capitalism decry that it caters to special interests. The opposite is actually true. Just look at what’s happened in the last year.

Most of Wall Street came to government asking for a bailout when the government-created housing bubble popped.

The Big Three automakers also went to Washington for largesse when their customers came to prefer Toyotas and Hondas.

Health insurance companies stand to make a killing if Obamacare passes.

T. Boone Pickens and Al Gore would make millions from environmental legislation.

Ludwig von Mises explained the reason for all of this corrupt behavior with a single sentence back in 1949: “It is precisely the fact that the market does not respect vested interests that makes the people concerned ask for government interference.”
Human Action, 4th Edition, p. 337.

This Year’s Economics Nobel Winners

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Congratulations to Elinor Ostrom and Oliver Williamson. Both are highly deserving.

Ostrom’s work shows that market behavior emerges in settings not usually thought of as markets (condo associations, within government  etc.).

Williamson has made brilliant contributions to the New Institutional Economics (NIE), which says that changing the rules of the game (the existing institutions) will alter the behavior of the people affected. Williamson’s work applies the economic way of thinking to deduce exactly how, with an emphasis on how transaction costs affect the interplay between individuals and firms.

President Obama Wins Nobel Peace Prize

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It is ironic that the winner of the Nobel Peace Prize wants to send more troops to Afghanistan. Even so, President Obama is in a prime position to work wonders for the cause of peace. He can institute free trade in America.

Trade is the ultimate act of peace. If someone has something you covet, you are faced with a choice. You could take it from him by force. Or you could trade for it. The first option is the root of all war. The second is the root of all peace.

Trading with people instead of stealing from them is a sign of respect. It says you honor their rights as an individual. It says you reject the use of force. It says you choose persuasion over coercion.

If he wants to earn the prize he has been given, President Obama should scrap those tire tariffs against China. Publicly retract his blustery campaign statements about renegotiating NAFTA. Repeal every tariff, every antidumping duty, and every last restraint on trade in the books.

Nothing promotes peace and civility more than commerce. After all, killing the customer is very bad for business.