The Economist's Cookbook

Recipes For A More Free Society

  • "The curious task of economics is to demonstrate to men how little they know about what they imagine they can design."

    - F.A. Hayek

This Will End Well...

Posted by The_Chef On 10:40 AM 0 comments


I mean what could possibly go wrong with regulating a fluid industry like "nannying".

*sigh* This will of course increase unemployment in that sector because of the marginally increased difficulty in firing a nanny. If the nanny is in good with the family, we might expect a small drop in employment due to the overtime guarantee provided for in this bill, depending on how the OT is calculated. But the real hit is going to be in those nannies that are on the lower spectrum where in stead of keeping someone around to watch their kids who isn't the best, they simply fire her now and start looking for another candidate who more clearly fits the employer requirements.

The Nanny state is now after nannies. Who would have thought?

Also: Who are the "Jews for Racial and Economic Justice" listed in the footnote of the article? Why does that name just shriek "Socialist Orgy/Thinktank" to me? Oh ... umm ... yep. Another group of yammering collectivists is a seemingly apt definition of the group.

*sigh* I forgot, markets are evil, workers are slaves, the free exchange of goods/services/ideas is dangerous to society. We must control it, right?

You're An Asshole!

Posted by The_Chef On 2:52 PM 2 comments

Today's Recipient is one Judge Thomas V. Gainer Jr. from Chicago.

Let's do a bit of looking at this shall we?

1.) Cop gets videotaped drinking shots and other beverages before getting into his car.
2.) Cop causes an accident resulting in two fatalites.
3.) Cop cleared of all charges.

Prosecutors made two attempts to prove that Ardelean did. After the two-vehicle fatal crash Nov. 22 in Roscoe Village, Ardelean was charged with misdemeanor DUI -- later upgraded to a felony. But those charges were dismissed when Cook County Judge Don Panarese ruled there was "no indication" Ardelean, who was off-duty at the time, was drunk. Prosecutors reinstated charges after saying they had a lengthy surveillance videotape showing Ardelean drinking five shots and other drinks at a North Side bar shortly before the crash.

Prosecutors also suggested in pretrial hearings that police the night of the crash turned a blind eye to Ardelean's intoxication. Among other things, he wasn't arrested or given a Breathalyzer until seven hours after the crash. But Gainer ruled in April that the supervising officer who ultimately made the arrest didn't have strong enough evidence to do so. Gainer's ruling also suppressed key blood-alcohol evidence.

So what does the judge in this case do? Well he throws out the video evidence of course.

Now I ask my readers, if one of us had pulled a stunt like this, what would have happened to us? More appropriately, what would have happened to one of us if we had killed two cops while driving drunk?

Remember kids: The cops are not on your side. They are not your friend. They are NOT there to "protect and serve" you.

Antimatter - Planetary Confinement

Posted by The_Chef On 11:30 AM 1 comments

: Antimatter
Album: Planetary Confinement
Genre: Dark Atmospheric Rock (Mostly Acoustic)
: Antimatter is in the vein of Anathema and, to a certain degree, Katatonia. It's a dark, depressive, yet well constructed and frankly a beautiful musical journey. It's relatively slow, but it is cerebral and each stage of the music seems to be very well thought out and considered. It's not heavy. It's not groovy. It's simply very pretty, while being rather dark. The work has some Prog influences but it's not a huge part of the album. Highly recommended for those that like a creative work of rock.

Rating: 4/5

Ever Heard The Saying...

Posted by The_Chef On 10:35 AM 2 comments

"When all you've got is a hammer, every problem looks like a nail."?

VH over at Vulcan's Hammer said something that made me wonder about the psychological nature of the legislative beast.

Shall we take a moment to look at the composition of our houses of Congress?

  • 214 members (182 Representatives and 33 Senators) list their occupation as public service/politics
  • 225 (168 Representatives and 57 Senators) list law []
  • 201 (175 Representatives and 27 Senators) list business
  • 94 (78 Representatives and 16 Senators) list education
[via Wiki]
Now there is obviously overlap in this because we know that there are not 133 Senators. We can however conjecture that of the upper house there are at least 60-70% that are in the "politics/law" area.

I'd like to find a more in depth study of this, but this is good enough for a rough estimate.

If I may modify the famous saying at the top of the post:
"When all you've got is experience in law/politics every problem looks like it can be solved with a law."

We are all prone to do this: I tend to see economics as a primary driving force behind actions and think that markets can solve 99-100% of the worlds problems. We are all looking at things through some sort of colored tint based on what we study, learn, appreciate, and understand. Psychologists see personality types, sociologists see group dynamics and traits, economists see cost/benefit and incentives, etc. and so on; we're all guilty of it to a certain degree.

Perhaps that's the problem with Congress and politicians in general. Their view of things is that problems are to be solved with laws, coercion, and force. That is simply how they see things. Not that such a state excuses their actions, but it makes sense and would seem to fulfill Occam's Razor nicely.

I wonder who in Congress has a Masters or PhD in Economics. I know that as far as I can tell, the most economically astute person in Congress is actually an MD (Thanks Dr. Paul!).

Yes economists disagree about many things. the fight between the Neo-Classicists, Austrians, Monetarists, and Keynesians has been going on for a long long time but at least they hold some sort of understanding of the underlying principles.

These people are making policy without any understanding of the basic and underlying principles. That would be like putting me in charge of a five star restaurant's menu. I like food. I even like to dabble in the kitchen a bit, but I sure as hell don't know enough to construct the menu for a high class establishment.

Congress is meddling in things they don't understand. They are sticking wrenches in a moving engine in an unlit room. If you keep monkeying with the engine, you're gonna break it.

Do you really wanna be sticking a wrench in something like this? I don't.