Profit rates of New Zealand banks, 2015

image

Source: G1 Summary information for locally incorporated banks – Reserve Bank of New Zealand

 ....

On how feminism is dead at its own hand

image

Image

Solution aversion and the anti-science Left

image

Climate science is the latest manifestation of solution aversion: denying a problem because it has a costly solution. The Right does this on climate science, the Left does it on gun control, GMOs, and plenty more. Cass Sunstein explains:

It is often said that people who don’t want to solve the problem of climate change reject the underlying science, and hence don’t think there’s any problem to solve.

But consider a different possibility: Because they reject the proposed solution, they dismiss the science. If this is right, our whole picture of the politics of climate change is off.

Some psychologists wasted grant money on lab experiments to show that people that think the solution to a problem is costly tend to rubbish every aspect of the argument. Any politician will tell you you do not concede anything. Sunstein again:

Campbell and Kay asked the participants whether they agreed with the IPCC. And in both, about 80 percent of Democrats did agree; the policy solutions made no difference.

Republicans, in contrast, were far more likely to agree with the IPCC when the proposed solution didn’t involve regulatory restrictions…

Here, then, is powerful evidence that many people (of course not all) who purport to be skeptical about climate science are motivated by their hostility to costly regulation.

The Left is equally prone to motivated readings. For example, it was found that those on the left are much more concerned about home invasions when gun control can reduce them rather than increase them.

image

The Left picks and chooses which scientific consensus as it accepts. The overwhelming consensus among researchers is biotech crops are safe for humans and the environment. This is a conclusion that is rejected by the very environmentalist organisations that loudly insist on the policy relevance of the scientific consensus on global warming.

Previously the precautionary principle was used to introduce doubt when there was no doubt. But when climate science turned in their favour, environmentalists wanted public policy to be based on the latest science.

The Right is welcoming of the science of nuclear energy or geo-engineering. The Left rejects it point-blank. Their refusal to consider nuclear energy as a solution to global warming is a classic example of solution aversion. Let he who is without sin cast the first stone.

Monopolies and patents can breed deadweight loss and market inefficiencies

Crime Deterrence: Evidence From the London 2011 Riots

Source: Crime Deterrence: Evidence From the London 2011 Riots – Bell – 2014 – The Economic Journal – Wiley Online Library.

#TPPA CTU @FairnessNZ appeals to secretive @ILO committee to challenge NZ sovereignty over employment law

The unions are very much against investor state dispute settlement provisions of trade agreements, but are happy to be serial complainants to secretive International Labour Organisation (ILO) committees about employment law amendments they do not like. A fair defeat in the floor of parliament was not good enough for them.

As far back as 1993 the Council of Trade Unions has complained to secretive ILO committees about labour market deregulation in New Zealand. These secretive committees are formed under ILO conventions in New Zealand signed decades go.

Source: Submission of the New Zealand Council of Trade Unions Te Kauae Kaimahi to the Transport and Industrial Relations Select Committee on the Employment Relations Amendment Bill Part, Wellington 25 July 2013.

The competence of these ILO committees are clearly in question if they hear an appeal under a convention New Zealand has not ratified. Imagine the outrage if an investor state dispute settlement panel heard on appeal despite New Zealand having a carve-out for the topic concerned. An example would be tobacco regulation.

Justice Scalia has a fine critique of those who believe in activist judges and living constitutions that applies just as well as to activist international adjudicators and living international treaties:

You think there ought to be a right to abortion? No problem. The Constitution says nothing about it. Create it the way most rights are created in a democratic society. Pass a law. And that law, unlike a Constitutional right to abortion created by a court can compromise. It can…I was going to say it can split the baby! …A Constitution is not meant to facilitate change. It is meant to impede change, to make it difficult to change.

Rather than use normal democratic means – trying to persuade each other and elections – the union movement threatened to go to a secretive ILO committee made up of members of uncertain competence and impartiality over the recent laws on collective bargaining.

Source: Submission of the New Zealand Council of Trade Unions Te Kauae Kaimahi to the Transport and Industrial Relations Select Committee on the Employment Relations Amendment Bill Part, Wellington 25 July 2013.

The union movement was outraged at the fact that New Zealand laws it likes could be questioned at international forums. It said this in a recent submission to the Health Select Committee of Parliament.

Source: Submission of the New Zealand Council of Trade Unions Te Kauae Kaimahi to the Health Select Committee on the Smoke Free Environments (Tobacco Plain Packaging) Amendment Bill, Wellington March 2014.

The unions were equally outraged about dispute settlement procedures in the recent free trade agreement with Korea. The unions were absolutely affronted at the idea that the sovereignty of the New Zealand Parliament could be challenged at a foreign forum.

Source: Submission of the New Zealand Council of Trade Unions Te Kauae Kaimahi to the Foreign Affairs, Defence and Trade Select Committee on the Free Trade Agreement between New Zealand and the Republic of Korea, Wellington 24 April 2015.

These protestations of the union movement would have much more credibility if union did not run off to a UN or ILO committee every time they were on the losing side of a vote in parliament. The unions are happy with those parts of international economic law that serve its interests but behave hypocritical about the other parts that do not. As United States Supreme Court Justice Antonin Scalia said

The virtue of a democratic system [with a constitutionally guaranteed right to free speech] is that it readily enables the people, over time, to be persuaded that what they took for granted is not so and to change their laws accordingly.

Nothing stirs up the impassioned (and most other people as well) more than depriving them of their right to support or oppose what is important to them through political campaigns and at an election.

The losing side, and we all end up on the losing side at one time or another, are much more likely to accept an outcome if they had their say and simply lost the vote at the election or in Parliament. Power to the people as long as I am on the winning side instead is the motto of the union movement.

The unions losing on labour market deregulation is no different from any other political difference within New Zealand. Both sides passionately but respectfully attempt to persuade their fellow citizens to accept their views.

Win or lose, advocates for today’s losing causes can continued pressing their cases, secure in the knowledge that an electoral loss today can be negated by a later electoral win, which is democracy in action as Justice Kennedy explained recently in the US context:

…a democracy has the capacity—and the duty—to learn from its past mistakes; to discover and confront persisting biases; and by respectful, rationale deliberation to rise above those flaws and injustices…

It is demeaning to the democratic process to presume that the voters are not capable of deciding an issue of this sensitivity on decent and rational grounds.

The process of public discourse and political debate should not be foreclosed even if there is a risk that during a public campaign there will be those, on both sides, who seek to use racial division and discord to their own political advantage.

An informed public can, and must, rise above this. The idea of democracy is that it can, and must, mature. Freedom embraces the right, indeed the duty, to engage in a rational, civic discourse in order to determine how best to form a consensus to shape the destiny of the Nation and its people. These First Amendment dynamics would be disserved if this Court were to say that the question here at issue is beyond the capacity of the voters to debate and then to determine.

 

The adjusted #genderwagegap by occupation and family status

Image

Mentally ill shot by US police by threat level: January – February 2016

Unfortunately for all concerned, most of the mentally ill shot this month by police was the result of an impossible dilemma. They were either attacking police or were armed.

image

Source: Investigation: People shot and killed by police this year – Washington Post.

Blacks shot by US police by threat level: January – February 2016

image

Source: Investigation: People shot and killed by police this year – Washington Post.

Shot by US police by threat level, 1 January – 5 March 2016 – corrected

Once again, few are shot by police if they are unarmed, much less with their hands in the air and not offering resistance. A leading cause of death of unarmed civilians is stray bullets. The lesson there is do not travel in cars or live with armed criminals.

Source: Investigation: People shot and killed by police this year – Washington Post.

Negative Externalities and the Coase Theorem

What animals are poached where?

Effective marginal tax rates on single and dual earner families in the USA, Britain, France, Germany, Canada, Italy, Sweden, Denmark, Australia and New Zealand

Some countries including New Zealand and Australia do not give ordinary families much of an incentive to earn more. Effective marginal tax rates on low income families is one of the few times that the Left discovers supply-side economics.

image

Source: Taxing Wages 2015 – OECD 2015.

A brave cashier fights off an armed robber in Georgia, US

Changing preferences in the mating game

Image

Previous Older Entries Next Newer Entries

Vincent Geloso

Econ Prof at George Mason University, Economic Historian, Québécois

Bassett, Brash & Hide

Celebrating humanity's flourishing through the spread of capitalism and the rule of law

Truth on the Market

Scholarly commentary on law, economics, and more

The Undercover Historian

Beatrice Cherrier's blog

Matua Kahurangi

Celebrating humanity's flourishing through the spread of capitalism and the rule of law

Temple of Sociology

Celebrating humanity's flourishing through the spread of capitalism and the rule of law

Velvet Glove, Iron Fist

Celebrating humanity's flourishing through the spread of capitalism and the rule of law

Why Evolution Is True

Why Evolution is True is a blog written by Jerry Coyne, centered on evolution and biology but also dealing with diverse topics like politics, culture, and cats.

Down to Earth Kiwi

Celebrating humanity's flourishing through the spread of capitalism and the rule of law

NoTricksZone

Celebrating humanity's flourishing through the spread of capitalism and the rule of law

Homepaddock

A rural perspective with a blue tint by Ele Ludemann

Kiwiblog

DPF's Kiwiblog - Fomenting Happy Mischief since 2003

The Dangerous Economist

Celebrating humanity's flourishing through the spread of capitalism and the rule of law

Watts Up With That?

The world's most viewed site on global warming and climate change

The Logical Place

Tim Harding's writings on rationality, informal logic and skepticism

Doc's Books

A window into Doc Freiberger's library

The Risk-Monger

Let's examine hard decisions!

Uneasy Money

Commentary on monetary policy in the spirit of R. G. Hawtrey

Barrie Saunders

Thoughts on public policy and the media

Liberty Scott

Celebrating humanity's flourishing through the spread of capitalism and the rule of law

Point of Order

Politics and the economy

James Bowden's Blog

A blog (primarily) on Canadian and Commonwealth political history and institutions

Science Matters

Reading between the lines, and underneath the hype.

Peter Winsley

Economics, and such stuff as dreams are made on

A Venerable Puzzle

"The British constitution has always been puzzling, and always will be." --Queen Elizabeth II

The Antiplanner

Celebrating humanity's flourishing through the spread of capitalism and the rule of law

Bet On It

Celebrating humanity's flourishing through the spread of capitalism and the rule of law

History of Sorts

WORLD WAR II, MUSIC, HISTORY, HOLOCAUST

Roger Pielke Jr.

Undisciplined scholar, recovering academic

Offsetting Behaviour

Celebrating humanity's flourishing through the spread of capitalism and the rule of law

JONATHAN TURLEY

Res ipsa loquitur - The thing itself speaks

Conversable Economist

In Hume’s spirit, I will attempt to serve as an ambassador from my world of economics, and help in “finding topics of conversation fit for the entertainment of rational creatures.”

The Victorian Commons

Researching the House of Commons, 1832-1868

The History of Parliament

Articles and research from the History of Parliament Trust

Books & Boots

Reflections on books and art

Legal History Miscellany

Posts on the History of Law, Crime, and Justice

Sex, Drugs and Economics

Celebrating humanity's flourishing through the spread of capitalism and the rule of law

European Royal History

Exploring the Monarchs of Europe

Tallbloke's Talkshop

Cutting edge science you can dice with

Marginal REVOLUTION

Small Steps Toward A Much Better World

NOT A LOT OF PEOPLE KNOW THAT

“We do not believe any group of men adequate enough or wise enough to operate without scrutiny or without criticism. We know that the only way to avoid error is to detect it, that the only way to detect it is to be free to inquire. We know that in secrecy error undetected will flourish and subvert”. - J Robert Oppenheimer.

STOP THESE THINGS

The truth about the great wind power fraud - we're not here to debate the wind industry, we're here to destroy it.

Lindsay Mitchell

Celebrating humanity's flourishing through the spread of capitalism and the rule of law

Alt-M

Celebrating humanity's flourishing through the spread of capitalism and the rule of law

croaking cassandra

Economics, public policy, monetary policy, financial regulation, with a New Zealand perspective

The Grumpy Economist

Celebrating humanity's flourishing through the spread of capitalism and the rule of law