Jeffrey A. Tucker is Editorial Director for the American Institute for Economic Research. He is the author of many thousands of articles in the scholarly and popular press and eight books in 5 languages. He speaks widely on topics of economics, technology, social philosophy, and culture. He is available for speaking and interviews via his email. Tw | FB | LinkedIn
Jeffrey A. Tucker
Articles from Jeffrey A. Tucker
Even as the US is pulling inward, demonizing foreign nations, calling everyone in the world a cheater, China is aggressively opening to the world, negotiating bilateral trade pacts with every nation it can and another 14 multilateral trade pacts. More goods and investment coming and going – this seems to be the Chinese credo. It is winning them wealth, prosperity, and good will the world over.
What Elizabeth Warren intends is to make the highwayman rob you in your sleep, so that you never know he is there and come to expect less ownership in the morning than when you went to bed. Her proposed change to tax filing would diminish property rights, make tax increases easier, reduce your privacy, and fundamentally upend what remains of the idea that you are entitled to the wealth you earn. It would also end up restricting your possible sources of income
There will be another winter. And another. To get the best sense of the potential here, it’s best to look at the price, not day to day, but on a logarithmic scale. Here is where we can see the potential of the technology. That has a much more meaningful significance than the fickle judgments of seasonal news hounds that make the difference on the daily margin.
Right now, Facebook faces massive competition from other platforms in social media, copycats, and alternative uses of people’s time. In some ways, it’s the best possible moment to call on government to institutionalize Facebook as a form of public utility. That might actually be the end game that Zuckerberg has in mind. Then the politicians can update their timeline status: today we passed regulations that brought this wayward company to heel.
The personal signature has a notorious history: J.S. Bach’s on his compositions, the founding fathers on the Declaration of Independence, Picasso on his paintings, and the president’s today on executive orders. Creating your own was a right of passage. With credit card companies admitting the obvious that it does nothing to verify your identity, does it matter anymore? The signature isn’t going away. It has just changed forms.
The enthusiasm for imperious government impositions at the level of cities and states has waned dramatically. Governments are out of money. More importantly, they are out of ideas. All the most exciting innovations of our time come from the private sector and the brilliant process of market competition. With stretched budgets and a dearth of new ideas, government has nothing to lose by just selling assets lot by lot.
There is real inspiration to be had by looking at the iterative process of innovation, how that funny little machine from 1883 gradually evolved into the tiny payment processing units we use routinely today, an epic story of improvement in machinery in which the current stage is knitted to all previous stages through an invisible thread of passion for solving problems and serving others.
The results of this war are as follows. US consumers get to pay more for imports from China. American companies lose markets as Chinese consumers and importers turn to other countries to provide wines, pork, and fruit. And this is only round one. The financial markets have suffered a terrible quarter one, just as all this interventionist rhetoric picked up steam. We are doing ourselves no favors here. This is not how a nation becomes great again.
It used to be a cliche to observe that libertarianism is neither left nor right. I don’t hear that much anymore, so it needs to be restated. Mostly it needs to be understood. Left and right emerged in the 19th century as a revolt against liberalism. They each favored different forms of statism to push back against the progress liberty was making possible. It remains the same today.
Economics is lovely because it unlocks the great mysteries of the material world: why we thrive, why we experience progress, how we can build prosperity and peace, the path toward making the best out of our limited time in this world, and leave something better for the next generation. Knowing and contemplating these things is indeed a source of immense joy.
I seriously doubt there will ever be another Facebook. The solutions of the future will be decentralized. Already, most of us run a half dozen – or maybe several dozen – apps in our suites of software that allow chat, sharing, conversations, groups, and so on. The competition will never end, and we will all learn to find joy in the ongoing process of innovation and choice. This is how it should be. Maybe at the end of this, we’ll find the right balance between the privacy we desire and the notoriety we crave. For impossible jobs such as this, I wouldn’t trust the FTC to fix the problem. You have to leave it to the market.
In a political sense, Trump might be onto something, temporarily, in the most cynical way. It is very easy for the hoi polloi to think in terms of national collectives. It’s us vs them, our guys vs. their guys. The trouble is that the world is no longer organized primarily along these nationalistic lines. We all depend on the productivity of each other and therefore on trade with each other, regardless of the nation states that trap us in their borders. The other main problem with trade war: it is a ruse to distract citizens from their real oppressor which is their own government.
Liberalism believes that society manages itself better than any top-down authority can. That includes the commercial life of a nation. But it also pertains to civil liberties, international relations, migrations, family and cultural life, and religion. And what does classical liberalism oppose? Managed economies, imperialism, ethnic cleansing, war, arbitrary rule, dictatorship, authoritarianism, and every action of government that goes beyond what is absolutely necessary, if any government is necessary at all. That the meaning of the term changed in the US in the first half of the 20th century is one of the most tragic language distortions on record.
The kids are being forced into institutions that have proven themselves unable to protect students against violence, and also face no real accountability when they fail to do so. Force is the watchword even without the direct threat of violence from guns and bombs. Why does nearly everyone think this is normal? Because compulsory schooling laws have been part of the living reality of every single living American.