Daily Archives: May 9, 2018

CofC Adam Smith Week 2018 – Dr. Lynne Kiesling

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Guardian publishes antisemitic letter which calls for a boycott of Israel.

That pig a ta Roger Waters concert (jpost.com)That pig at a Roger Waters concert (jpost.com)

By Richard Millett

It seems the Guardian wants to shut down all social and cultural life in Israel. Last week it published an article which accused the Jewish state of “sportswashing” its reputation by hosting the Giro d’Italia‘s first leg, irrespective of the fact that Israel had obviously been invited to host it!

Implicit in the accusation of “sportswashing” is the historical antisemitic trope of “dishonest Jews” manipulating the world via unethical business practice.

This antisemitic trope has reared its ugly head yet again today with the Guardian publishing a letter by artists. The letter is about the Seret International Film Festival currently underway in London. The letter states:

“Art, media and culture are being employed to give an apparently acceptable face to a brutal reality.”

Again there’s the implicit notion of “dishonest Jews” manipulating others in an unethical manner.

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#Marx200 The private sector net labour share has been stable for decades in NZ! Our local top 1% should be drummed out of the international ruling class for just not trying, much less succeeding in any way in extracting more labour surplus to ensure the rich get richer and the poor get poorer

 

 

 

 

 

 

 

 

Source: Benjamin Bridgman & Ryan Greenaway-McGrevy (2016) The fall (and rise) of labour share in New Zealand, New Zealand Economic Papers, DOI: 10.1080/00779954.2016.1219763

To quote their abstract

The share of national income going to labour in New Zealand fell substantially between the 1970s and the end of the century. Approximately half of this decline was then recovered in the following decade. In this paper, we argue that the decline from the mid-1980s onwards is due to public sector reforms. Corporatisation re-orientated the public trading enterprises away from a broad range of social and trading objectives towards generating profits, while increased fiscal discipline in non-market government departments reduced payroll costs. Consistent with this hypothesis, we show that most of the decline in aggregate labour share from the mid-1980s onwards can be attributed to a significant fall in the labour share of the public sector. To more formally analyse the effects of the reforms, we build a simple model of structural transition. The model yields several predictions that are consistent with observed trends in sectoral labour share. First, there is a large and permanent decline in public sector labour share after the reforms. Second, there is a smaller, short-run decline in private sector labour share that is reversed over the long run. The model can, therefore, explain not only the decline in aggregate labour share from the mid-1980s onwards; it can also explain the partial recovery in labour share beginning in 2002.

Investment, Productivity, Capital Taxation, and Worker Compensation

International Liberty

I was a big fan of the lower corporate tax rate in last year’s tax bill, largely because I want a better investment climate, which then will lead to higher productivity and rising wages.

Simply stated, the current tax code (as shown in the chart) has a very harsh bias against income that is saved and invested.

Anything that can be done to reduce the magnitude of this “double taxation” will lead to better economic performance.

Now that the lower corporate tax rate has been implemented, there’s a debate about whether it is having desirable affects.

In this CNBC debate, I explain that stock “buybacks” and employee bonuses are positive short-run results, but that I’m much more interested in the potential long-run benefits.

As with all brief interviews, it’s difficult to share a lot of information. My main goal was to point out that there’s nothing…

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Study: Environmentalists Could Kill Millions Of People in Poor Countries

Green Jihad

Pursuing so-called green energy initiatives may force poor people in developing countries to remain in their conditions, including continuous exposure to pollution, which results in shorter life spans. That is the conclusion of a policy analysis issued by the Global Warming Policy Foundation (GWPF) on Friday.

Since environmentalists have pushed for policies based on human-induced climate change, environmentalist groups, like Greenpeace, have supported efforts to halt developmental project abroad and even methods of transport for oil and gas (like pipelines) in an attempt to halt the use of fossil fuels.

As impractical as it may be, the GWPF study states that the result of the green movement’s Keep It in The Ground campaign would result in more human deaths by pollution. By halting the production and use of fossil fuels developing countries would be unable to progress which depreciates higher standards of living and reduced carbon emissions.

The activists belonging…

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