Count on America’s venal financial class to engage unironic self parody. According to a recent CNBC report, Goldman Sachs, one of the largest financial institutions in the world, asked whether the use of cutting-edge genetic therapy to cure patients is a “sustainable business model”: Continue reading
As much of the country laments the demise of Toys R Us — a source of much nostalgia for generations of Americans since the late 1950s — it is worth taking a look at one way the company tried to climb out of bankruptcy just a few months prior: giving its top executives millions of dollars. Quoting a December 2017 article of USA Today: Continue reading
According to the 2017 Index of Economic Freedom, conducted annually by the Heritage Foundation, a leading U.S. conservative think tank, the following countries rank the highest in “economic freedom”, which includes factors such as rule of law, property rights, ease of starting and running a business, and regulatory and tax burden:
- Hong Kong
- New Zealand
- United Arab Emirates
Even while the number of overweight and obese people is continuing to grow worldwide, the age-long scourges of chronic hunger and malnourishment remain pressing humanitarian problems. Close to 800 million people — or one in nine humans on Earth — are undernourished and thus highly susceptible to disease and infirmity. The majority of them live in developing countries, especially in rural areas, which tend lack infrastructure, are neglected by government, and especially vulnerable to natural disasters (including climate change).
Ending Rural Hunger is a project launched this year by the Brookings Institution’s Global Economy and Development division. Combining the expertise of over 120 specialists with the latest technology, it seeks to offer the world’s first comprehensive tool for monitoring the U.N. second Sustainable Development Goal (SDG): “End hunger, achieve food security and improved nutrition, and promote sustainable agriculture”.
To that end, the project website offers a treasure trove of interactive and multifaceted tools that cover everything from the raw numbers of hungry people by country, to which governments are making the most progress (or failing to), and which developed countries are doing more to help. By looking at every side of the equation — the impact of both domestic and international policies, environmental and economic factors, the effectiveness of certain types of aid and policy — ERH is a great resource for those of us looking to see what more can be done to help the world’s most vulnerable people in a time of plenty. I definitely recommend you check it out. Continue reading
By now, it is well established that capitalism is fundamentally built upon threats of force. As libertarian philosophers Robert Nozick and Matt Zwolinski have explained, the only way to turn unowned natural resources (such as land, minerals and other goods) into privately owned property is by violently preventing all others from using them. This one-sided exclusion destroys freedom of movement and cuts many people off from the things that they need to survive.
When the physical resources necessary for production are privately held in the hands of very few, as in the United States, the majority of the population is forced to submit itself to well-financed employers in order to live. The precarious position of most workers in this position — desperate for employment but aware that they could lose their jobs at any time — is coercive on its face and susceptible to exploitation and abuse.
Labor protection in the form of safety laws, collective bargaining and prohibitions against harassment and discrimination have helped cut down on many of the worst employer abuses. But no amount of labor regulation can ever undo the fact that workers are confronted daily with the choice between obeying a supervisor or losing all their income. The only way to break the coercion at the core of the employment relationship is to give people the genuine ability to say no to their employers. And the only way to make that feasible is to guarantee that working-age adults, at least, have some way to support themselves whether they work or not….
….True freedom requires freedom from destitution and freedom from the demands of the employer. Capitalism ensures neither, but a universal basic income, if successful, could provide both.
— Matt Bruenig, “Tired of Capitalism? There could be a better way“. The Washington Post.