Inequality Debate Ignores Fundamental Distinction Between Politics and Production

Nov 14, 2017 | Business, Politics

From: Richest 1% own over half the world’s wealth – Business Insider

The world’s richest 1% of families and individuals hold over half of global wealth, according to a new report from Credit Suisse. The report suggests inequality is still worsening some eight years after the worst global recession in decades.[…]

“The bottom half of adults collectively own less than 1% of total wealth, the richest decile (top 10% of adults) owns 88% of global assets, and the top percentile alone accounts for half of total household wealth,” the Credit Suisse report said.[…]

In most countries, including the US, a large wealth gap translates into those at the top accruing political power, which in turn can lead to policies that reinforce benefits for the wealthy.

The real question is: how many used political power to acquire wealth as opposed to honestly producing it economically? If someone created the wealth — like a Bill Gates, Warren Buffet and Jeff Bezos — then they rightfully own the assets they created.

Billionaire politicians and dictators (Castro, Putin, etc.) who earned their money through political means — theft and cronyism — do not.

Sadly Business Insider, like much of the anti-capitalist press, does not make that distinction.

Alt-Right and National Socialists are Hostile To Laissez-Faire Capitalism, Just Like The Alt-Left

Aug 21, 2017 | Business, Politics

Writes Jason Wilson in “Socialism, fascist-style: hostility to capitalism plus extreme racism: | The Guardian:

…some of the [Alt-Right] groups that marched evince a hostility to neoliberal capitalism, which is equal to that of the most ardent supporters of Bernie Sanders, the leftwing populist who mounted a vigorous challenge to Hillary Clinton during last year’s Democratic primaries – although for the far right it comes inextricably linked to a virulent racism. Many also support the enhancement of the welfare state.

For example, those marching under the red and blue banners of the National Socialist Movement (NSM) have signed up to a manifesto that supports a living wage, sweeping improvements in healthcare, an end to sales taxes on “things of life’s necessity” and “land reform” for “affordable housing”.

An establishing principle in the document written by their leader, Jeff Schoep, is that the state “shall make it its primary duty to provide a livelihood for its citizens”. It calls for “the nationalisation of all businesses which have been formed into corporations”.

The manifesto of Matthew Heimbach’s Traditionalist Worker Party calls for “opportunities for workers to have jobs with justice”. And in a manifesto issued on the day of the Charlottesville march, the noted far-right figurehead Richard Spencer wrote that “the interests of businessmen and global merchants should never take precedence over the wellbeing of workers, families, and the natural world”.

Spencer has previously spoken out – including at the American Renaissance conference, a gathering of far-right activists in Nashville in July – in favour of “single payer” universal healthcare.

At the conference, Spencer gave Trump just three out of 10 when invited to rate him – because he was “too focused on the Republican agenda” of tax cuts and dismantling Obamacare.

These critiques of capitalism and mainstream conservatism are key to the socialist element of national socialism. Observers of the far right argue that understanding this is essential to demystifying the far right’s appeal, especially to the alienated millennial men currently swelling its ranks.

Alex Epstein Exposes The Lies and Biases In Al Gore’s Film “An Inconvenient Sequel”

Aug 3, 2017 | Business, Politics

From Al Gore can’t deny that his climate crusade involves great suffering | Financial Post:

Take the rising dominance of solar and wind, which is used to paint supporters of fossil fuels as troglodytes, fools, and shills for Big Oil. The combined share of world energy consumption from renewables is all of two per cent. And it’s an expensive, unreliable, and therefore difficult-to-scale two per cent.

Because solar and wind are “unreliables,” they need to be backed up by reliable sources of power, usually fossil fuels, or sometimes non-carbon sources including nuclear and large-scale hydro power (all of which Gore and other environmentalists refuse to support). This is why every grid that incorporates significant solar and wind has more expensive electricity. Germans, on the hook for Chancellor Angela Merkel’s self-righteous anti-carbon commitments, are already paying three times the rates for electricity that Americans do.

Stories about “100-per-cent renewable” locations like Georgetown, Tex. are not just anecdotal evidence, they are lies.

[…]

Gore’s Inconvenient Sequel gives a biased, self-serving, and convenient picture of fossil fuels and climate — convenient for Gore’s legacy, that is, but inconvenient for the billions his energy poverty policies will harm. As citizens, we must start demanding responsible thought leaders who will give us the whole picture that life-and-death energy and climate decisions require.

Adam Mossoff On Reforming The Patent System: First “Do No Harm”

Jun 20, 2017 | Business, Politics

From Center for the Protection of Intellectual Property:

On June 13, 2017, CPIP Founder Adam Mossoff testified before the House Judiciary Committee’s Subcommittee on the Courts, Intellectual Property and the Internet. He and other witnesses testified about the impact of the Supreme Courts recent decision in TC Heartland LLC v. Kraft Foods Group Brands LLC on innovators and the possibility of future changes to patent law.

In his opening statement, Professor Mossoff primarily described how patent owners—particularly individual inventors and small businesses—will now be required to file multiple lawsuits all across the country to enforce their rights. This will drastically increase the cost of protecting their property from infringers, which for many innovators will be cost prohibitive. Professor Mossoff mentioned one such inventor, Bunch-o-Balloons inventor Josh Malone, who is being seriously harmed by the inability to protect his invention from rampant infringement. Together with the litany of other recent disastrous changes to our patent system, innovators are now in a precarious position when deciding to rely on patents to protect their inventions.

Professor Mossoff emphasized that Congress’ first priority should be “do no harm.” Rather than make another attempt to pass legislation further restricting patent owners’ rights, it would be better for Congress to simply do nothing. However, Congress could make the patent system better for innovators. One step already being discussed that would be a positive improvement is the suggestion to amend Section 101 to limit the scope of the judicial exceptions to subject matter eligibility. At the hearing, Professor Mossoff astutely noted that the first patent ever issued in the United States—being held up at that moment by Chairman Darrell Issa—would likely be invalidated under current patent eligibility standards.

Many questions directed at the witnesses asked for them to propose specific solutions to either perceived venue abuses or broader patent law issues. Professor Mossoff stressed that systemic changes to the patent system will not just affect a few bad actors, but all of the individual inventors, small businesses, universities, licensing companies, and R&D-intensive high-tech and bio-pharma companies who rely on the patent system to protect their innovations. These types of companies have been the fountainhead of the U.S. innovation economy for more than 200 years. “Reform” that only addresses the concerns of accused infringers, but not the costs to patent owners, is doomed to do more harm than good.

Professor Mossoff’s written testimony can be found here. Video of the hearing can be found here.