In the libertarian theory unused property comes into ownership through homesteading which basically mean you have to start using unused land. The same theory exists with air/water pollution, noise, and radio waves.
So if an airport is build far away from people it homesteads the right to make the noise associated with running an airport. Anyone that decided to move nearby has to accept that level of noise. If people still move in then the level of noise the airport makes cannot be increased say by landing a new jet that is louder than previous aircraft. This is because it is a nuisance to the other property owners. This is the same reason an airport couldn't be built in a populated area without violating peoples property rights.
If a coal plant is built in a remote area where it's exhaust cannot be detected by surrounding property owners they have gained a right to pollute that air. If someone moves into that area they do so with the knowledge that the coal plant pollutes there. But if people move in anyway they can't sue to stop the pollution. But they can sue if the plant increases the pollution.
The same with a river. If before anyone owned property downstream on the river a meat packing plant moved there and polluted the river they would have homesteaded the right to pollute that river. That isn't very likely. There were most likely owners of property on the river before any industry. Therefore anyone that polluted the river would be violating everyone downstream property rights and they could sue for damages.You can have a class action lawsuit by all plaintiffs against a single polluter.
In reality a libertarian system would have a much cleaner environment because anyone could sue for damages. The EPA exists to protect businesses from lawsuits. It sets a legal limit where companies can pollute to where they face no threat of lawsuit. Also they don't get sued for damages but are fined by the government which leaves the property owners that had their property damaged with no recourse.
In the first universities anyone could stop in and listen to a lecturer for free. If they were interested in perusing individual education they would work out a fee between the professor and the student. There wasn't any strict curriculum or degrees. The professors paid the university a cut similar to the way a barber shop works today.
The business model should be the same. Free to watch the lectures and pay for individual attention.
(The Senators and Representatives shall receive a Compensation for their Services, to be ascertained by Law, and paid out of the Treasury of the United States.) (The preceding words in parentheses were modified by the 27th Amendment.) They shall in all Cases, except Treason, Felony and Breach of the Peace, be privileged from Arrest during their Attendance at the Session of their respective Houses, and in going to and returning from the same; and for any Speech or Debate in either House, they shall not be questioned in any other Place.
You don't have price inflation due to a growing economy. You get a bubble economy because the Central Bank is causing monetary inflation. When a Central Bank causes monetary inflation it tricks businesses into building capacity instead of consumer goods. This cannot last forever because eventually this misdirection of the economy catches up and the bubble pops. This is exactly what happened in the US housing market. The Federal Reserve to pay for the War on Terror and to recover from the dot com bust inflated like crazy. This money had to go somewhere and where it went was into housing. But we didn't really need that many houses. Eventually it catches up and we have to deal with the overproduction of housing. All of the jobs that were misdirected to housing have to find new work. The problem is the boom not the bust. The longer you keep inflating the bubble with cheap money the worse the bust is going to be. And the best way to recover is to let the deflation happen and the market clear all of the malinvestments. A short recession. But the way we are going by creating money will only prevent the clearing of the malinvestments making the recession longer.
Core inflation is completely manipulated since it doesn't include food or energy. Also included in that are housing prices which although have undergone price deflation. But many people have a mortgage based on the previous inflated prices. We should have had a massive deflation with so many debts defaulting. The Fed is trying to paper over the whole thing which is what is causing commodity prices to rise. It is also a way to lower the real minimum wage to try to improve unemployment in a politically feasible way. But as they create money it is mostly given to banks and politicians so this makes working people even worse off.
You are wrong on how prices are set. They are set on the margin of both the seller and the buyer. If oil was selling for $500/barrel you would have more supply on the market but little demand. If the price was $10 you would have much greater demand but little supply. The price is naturally set where the supply and demand curves meet.
If you add a tariff or tax to the producer basically adds an additional cost. This reduces the supply and pushes up the cost.
If the people in the US keep buying Chinese goods in order to keep prices low the Chinese governments needs to keep inflating. By doing this they create a bubble similar to our housing bubble. The Chinese governments only choice is to keep inflating which leads to massive inflation or slow down inflation which leads to a depression. Either way the Communist Party is going to be threatened.
We are under a similar situation here. The only good thing we have going is we have at least two parties. So we just throw one party out of power and put another in. Even though it doesn't change much the people feel better.
"Inflation as rising real wages and prices is caused by the growth of their economy which increasing the money supply counteracts."
You have a serious misunderstanding of economics. What is a price? It is an exchange rate between a good and a currency. So $2/1loaf of bread. If you have a growing economy by which I mean you are increasing the quantity and quality of goods you produce without changing the money supply you get price deflation. Kind of like how I can buy an iPhone for $300 that runs rings around my $1000 Apple IIGS in 1990. Alternately if the Central Banks create more money and release it into the economy that is producing the same amount of goods the price ratio goes up and you have inflation.
You are correct that China buys US dollars on the exchange market. But they question is where do they get those yuan to buy the dollars? They create them out of nothing which causes inflation in China along with a massive bubble that is getting ready to pop.
You just need to eliminate minimum wage and make unemployment 8 weeks and everyone will have a job. Of course we are in the process of lowering minimum wage as we speak in real terms. As we inflate the real minImum wage drops.
Did you ever read the reason Chinese goods are cheap because China manipulates their currency? I'm sure you all have. But have you ever though about what that really means? For instance why don't we just manipulate our currency more and make our good cheaper? And what does manipulate even mean?
The manipulation they are talking about is inflation. The Chinese government creates money faster than we do. But what is the effect of this? When governments create money they rarely hand it out equally to all of their citizens. They create money in order to pay for things or reward their political friends with free loans, grants, or bailouts. But where does the wealth go? Since no wealth is generated by inflation it transfers wealth from those that create real wealth to those that get the inflated money. So what the Chinese government does is impoverish it's people by stealing their wealth in the form of inflation at a much higher rate than the US government does.
What is the solution? A tariff doesn't work. All it does it tax the US consumers and gives that money to the government. With more tax revenue the US government has to borrow and print less which creates a stronger dollar. This makes Chinese goods even cheaper. No the only solution is to embrace it. Let the US consumers keep buying Chinese until the people there get a clue and overthrow their government. Think about it why should the Chinese people work so hard for so many hours for so little reward? They will wake up eventually and you will see China fall apart like the Soviets.
These are useless ideas from the 18 century and it's time to get rid of them. The basic idea of IP is that someone else owns you and your property because they have a government monopoly. If you own your computer you should be allowed to copy whatever you want. It is just arranging the bits on your hard drive. How does anyone have any right to tell you what to do with your property? If a movie studio wants to make money with movies they have to keep control over their product. Make the money in the theaters. If you release it to the public in a digital format you have lost control over it.
In some US states there is a florist cartel where you have to have a liscence to sell flowers. Of course to get a liscense you have to pass a subjective exam where other florists in the cartel get to judge your work and see if they will let you compete with them.
You actually have it 180 degrees out. College IS more expensive today because the governments at all levels subsidize it more through loans. The more cheap student loans available the more colleges will expand and charge even more. Basically the same thing that happened in the housing market. Until one day it all comes crashing down.
So the "people in the know" are college advisers and educators? The people who make more money the longer you are in school? Why not ask the janitor at least he actually works for a living. I would never hire anyone that took that long to graduate.
What you are missing is that the value of your education is revealed when you are trying to sell your labor or products of it. So the value of your education is only what other people are voluntarily willing to pay for it. This doesn't mean you shouldn't study French Poetry. But it would be a bad investment to pay alot of money to do it when you could find places on the internet to learn and discuss it for free. This is something many people do for leisure.
Many people in today's Pop culture confuse leisure and labor because there are some exceptional artists and athletes that are able to make considerable amounts of money doing what is in essence a leisure activity. Playing the guitar and singing is something most people do for fun. But if you are exceptional at it some people will pay money to watch you have fun. The same with sports. Most people play for fun. There are a few that are so good at it others will pay to watch them play a game.
Borrowing money is only reasonable if you are building your productive capacity. Borrowing money is smart if you are building a factory, buying capital equipment, or learning a marketable skill. Borrowing money to learn a leisure activity is not a smart use of your time or money. So where you are confused is you should only borrow money to learn a job skill. But once you have that skill and are earning a higher income you can use that money to learn a leisure activity. Borrowing money to learn a leisure activity leaves you with no way of every paying back your loan.
I worked as a support contractor on a NASA center. A friend of mine was a PhD Chemist on the same contract and NASA wanted to hire him. They wrote a job description for what they needed which he was qualified for. He submitted his resume through the USAJOBS.gov website but didn't get through the HR filter. They actually didn't get any qualified applicants but it took 6 months to put the ad back up and by then they lost funding.
I saw a NASA job that was right up my alley and I knew the people who would be reviewing the resumes that got through the filter. I put my resume in and under the "other information" I copied and pasted the WHOLE job listing. I got through the HR filter and got the interview. The person I knew looked at my resume which included the copied and pasted job listing under "other information". When I interviewed he asked me about it and said it was a pretty clever way of bypassing the filter. I got the job.
Slashdot Mirror
Here is a great essay called, "Law, Property Rights, and Air Pollution" by Murray Rothbard.
http://mises.org/rothbard/lawproperty.pdf
In the libertarian theory unused property comes into ownership through homesteading which basically mean you have to start using unused land. The same theory exists with air/water pollution, noise, and radio waves.
So if an airport is build far away from people it homesteads the right to make the noise associated with running an airport. Anyone that decided to move nearby has to accept that level of noise. If people still move in then the level of noise the airport makes cannot be increased say by landing a new jet that is louder than previous aircraft. This is because it is a nuisance to the other property owners. This is the same reason an airport couldn't be built in a populated area without violating peoples property rights.
If a coal plant is built in a remote area where it's exhaust cannot be detected by surrounding property owners they have gained a right to pollute that air. If someone moves into that area they do so with the knowledge that the coal plant pollutes there. But if people move in anyway they can't sue to stop the pollution. But they can sue if the plant increases the pollution.
The same with a river. If before anyone owned property downstream on the river a meat packing plant moved there and polluted the river they would have homesteaded the right to pollute that river. That isn't very likely. There were most likely owners of property on the river before any industry. Therefore anyone that polluted the river would be violating everyone downstream property rights and they could sue for damages.You can have a class action lawsuit by all plaintiffs against a single polluter.
In reality a libertarian system would have a much cleaner environment because anyone could sue for damages. The EPA exists to protect businesses from lawsuits. It sets a legal limit where companies can pollute to where they face no threat of lawsuit. Also they don't get sued for damages but are fined by the government which leaves the property owners that had their property damaged with no recourse.
I know students have audited courses but I didn't know they would allow non-students.
In the first universities anyone could stop in and listen to a lecturer for free. If they were interested in perusing individual education they would work out a fee between the professor and the student. There wasn't any strict curriculum or degrees. The professors paid the university a cut similar to the way a barber shop works today.
The business model should be the same. Free to watch the lectures and pay for individual attention.
(The Senators and Representatives shall receive a Compensation for their Services, to be ascertained by Law, and paid out of the Treasury of the United States.) (The preceding words in parentheses were modified by the 27th Amendment.) They shall in all Cases, except Treason, Felony and Breach of the Peace, be privileged from Arrest during their Attendance at the Session of their respective Houses, and in going to and returning from the same; and for any Speech or Debate in either House, they shall not be questioned in any other Place.
You don't have price inflation due to a growing economy. You get a bubble economy because the Central Bank is causing monetary inflation. When a Central Bank causes monetary inflation it tricks businesses into building capacity instead of consumer goods. This cannot last forever because eventually this misdirection of the economy catches up and the bubble pops. This is exactly what happened in the US housing market. The Federal Reserve to pay for the War on Terror and to recover from the dot com bust inflated like crazy. This money had to go somewhere and where it went was into housing. But we didn't really need that many houses. Eventually it catches up and we have to deal with the overproduction of housing. All of the jobs that were misdirected to housing have to find new work. The problem is the boom not the bust. The longer you keep inflating the bubble with cheap money the worse the bust is going to be. And the best way to recover is to let the deflation happen and the market clear all of the malinvestments. A short recession. But the way we are going by creating money will only prevent the clearing of the malinvestments making the recession longer.
Core inflation is completely manipulated since it doesn't include food or energy. Also included in that are housing prices which although have undergone price deflation. But many people have a mortgage based on the previous inflated prices. We should have had a massive deflation with so many debts defaulting. The Fed is trying to paper over the whole thing which is what is causing commodity prices to rise. It is also a way to lower the real minimum wage to try to improve unemployment in a politically feasible way. But as they create money it is mostly given to banks and politicians so this makes working people even worse off.
You are wrong on how prices are set. They are set on the margin of both the seller and the buyer. If oil was selling for $500/barrel you would have more supply on the market but little demand. If the price was $10 you would have much greater demand but little supply. The price is naturally set where the supply and demand curves meet.
If you add a tariff or tax to the producer basically adds an additional cost. This reduces the supply and pushes up the cost.
If the people in the US keep buying Chinese goods in order to keep prices low the Chinese governments needs to keep inflating. By doing this they create a bubble similar to our housing bubble. The Chinese governments only choice is to keep inflating which leads to massive inflation or slow down inflation which leads to a depression. Either way the Communist Party is going to be threatened.
We are under a similar situation here. The only good thing we have going is we have at least two parties. So we just throw one party out of power and put another in. Even though it doesn't change much the people feel better.
"Inflation as rising real wages and prices is caused by the growth of their economy which increasing the money supply counteracts."
You have a serious misunderstanding of economics. What is a price? It is an exchange rate between a good and a currency. So $2/1loaf of bread. If you have a growing economy by which I mean you are increasing the quantity and quality of goods you produce without changing the money supply you get price deflation. Kind of like how I can buy an iPhone for $300 that runs rings around my $1000 Apple IIGS in 1990. Alternately if the Central Banks create more money and release it into the economy that is producing the same amount of goods the price ratio goes up and you have inflation.
You are correct that China buys US dollars on the exchange market. But they question is where do they get those yuan to buy the dollars? They create them out of nothing which causes inflation in China along with a massive bubble that is getting ready to pop.
Reprocessing spent fuel and breeder reactors.
Rework the bankruptcy laws so that you can clear indentured servitude, I mean student loans.
You just need to eliminate minimum wage and make unemployment 8 weeks and everyone will have a job. Of course we are in the process of lowering minimum wage as we speak in real terms. As we inflate the real minImum wage drops.
And the one thing that we know works is illegal.
Did you ever read the reason Chinese goods are cheap because China manipulates their currency? I'm sure you all have. But have you ever though about what that really means? For instance why don't we just manipulate our currency more and make our good cheaper? And what does manipulate even mean?
The manipulation they are talking about is inflation. The Chinese government creates money faster than we do. But what is the effect of this? When governments create money they rarely hand it out equally to all of their citizens. They create money in order to pay for things or reward their political friends with free loans, grants, or bailouts. But where does the wealth go? Since no wealth is generated by inflation it transfers wealth from those that create real wealth to those that get the inflated money. So what the Chinese government does is impoverish it's people by stealing their wealth in the form of inflation at a much higher rate than the US government does.
What is the solution? A tariff doesn't work. All it does it tax the US consumers and gives that money to the government. With more tax revenue the US government has to borrow and print less which creates a stronger dollar. This makes Chinese goods even cheaper. No the only solution is to embrace it. Let the US consumers keep buying Chinese until the people there get a clue and overthrow their government. Think about it why should the Chinese people work so hard for so many hours for so little reward? They will wake up eventually and you will see China fall apart like the Soviets.
These are useless ideas from the 18 century and it's time to get rid of them. The basic idea of IP is that someone else owns you and your property because they have a government monopoly. If you own your computer you should be allowed to copy whatever you want. It is just arranging the bits on your hard drive. How does anyone have any right to tell you what to do with your property? If a movie studio wants to make money with movies they have to keep control over their product. Make the money in the theaters. If you release it to the public in a digital format you have lost control over it.
In some US states there is a florist cartel where you have to have a liscence to sell flowers. Of course to get a liscense you have to pass a subjective exam where other florists in the cartel get to judge your work and see if they will let you compete with them.
You actually have it 180 degrees out. College IS more expensive today because the governments at all levels subsidize it more through loans. The more cheap student loans available the more colleges will expand and charge even more. Basically the same thing that happened in the housing market. Until one day it all comes crashing down.
So the "people in the know" are college advisers and educators? The people who make more money the longer you are in school? Why not ask the janitor at least he actually works for a living. I would never hire anyone that took that long to graduate.
Is there anyway to tell if the Earth is electrically neutral or has a net charge?
What you are missing is that the value of your education is revealed when you are trying to sell your labor or products of it. So the value of your education is only what other people are voluntarily willing to pay for it. This doesn't mean you shouldn't study French Poetry. But it would be a bad investment to pay alot of money to do it when you could find places on the internet to learn and discuss it for free. This is something many people do for leisure.
Many people in today's Pop culture confuse leisure and labor because there are some exceptional artists and athletes that are able to make considerable amounts of money doing what is in essence a leisure activity. Playing the guitar and singing is something most people do for fun. But if you are exceptional at it some people will pay money to watch you have fun. The same with sports. Most people play for fun. There are a few that are so good at it others will pay to watch them play a game.
Borrowing money is only reasonable if you are building your productive capacity. Borrowing money is smart if you are building a factory, buying capital equipment, or learning a marketable skill. Borrowing money to learn a leisure activity is not a smart use of your time or money. So where you are confused is you should only borrow money to learn a job skill. But once you have that skill and are earning a higher income you can use that money to learn a leisure activity. Borrowing money to learn a leisure activity leaves you with no way of every paying back your loan.
Here are two true stories.
I worked as a support contractor on a NASA center. A friend of mine was a PhD Chemist on the same contract and NASA wanted to hire him. They wrote a job description for what they needed which he was qualified for. He submitted his resume through the USAJOBS.gov website but didn't get through the HR filter. They actually didn't get any qualified applicants but it took 6 months to put the ad back up and by then they lost funding.
I saw a NASA job that was right up my alley and I knew the people who would be reviewing the resumes that got through the filter. I put my resume in and under the "other information" I copied and pasted the WHOLE job listing. I got through the HR filter and got the interview. The person I knew looked at my resume which included the copied and pasted job listing under "other information". When I interviewed he asked me about it and said it was a pretty clever way of bypassing the filter. I got the job.
I thought they had their hearts removed when they passed the bar at the same place that performs MBA lobotomies.
As a mechanical engineer I feel a little insulted. Why does the lawyer want the software code but not all of the design documents?
I do. I'd love to the UPS guy drop ship those.