Somin on Gary Johnson and Ron Paul: A Reply

(Austrian) Economics, Immigration, Libertarian Theory, Vulgar Politics, War
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Ilya Somin over at The Volokh Conspiracy, it seems, is no more a fan of Ron Paul now than he was four years ago. His criticisms remain about the same. This time around, though, he’s got a candidate to contrast Paul with in Gary Johnson. His conclusion? Johnson is a better libertarian than Paul. My first response to this was laughter. This is my second response:

To start, Somin nearly lost me in his first sentence when he suggested that Indiana Governor Mitch Daniels was even on the radar for libertarians considering voting. If anyone thinks a hypocritical drug warrior, who might be most charitably described as untested on foreign policy issues (and much less charitably described as a propagandist for the Empire), should even be in the running, then they should probably be disqualified from commenting on the question of who the most libertarian candidate is. All that said, we’ll give him the benefit of his doubts about Daniels for now and move onto his criticisms.

Ron Paul’s Unlibertarian Positions?

Somin claims that Ron Paul “has very nonlibertarian positions on free trade, school choice, and especially immigration.” He goes on to criticize Paul’s views on the Fourteenth Amendment. He doesn’t spell these criticisms out in this piece, but rather directs us to an older article from 2007. We’ll take each one by one.

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The Chutzpah of the “Do Something” Crowd

(Austrian) Economics, Corporatism, Nanny Statism, Vulgar Politics
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Supporters of free markets are often attacked for their “Do Nothing Principle” position, which tends to deeply upset policy wonks and media talking heads alike. Obviously this is buncombe, and to the contrary it is these would-be do-somethingers who are intellectually or ideologically incapable of grasping the sweeping scope of necessary changes that free market advocates are calling for.

For example, the charge that “Hangover Theorists” are selfish moralizers who want poor and middle-class families to needlessly suffer during a recession is prima facie incorrect. The interlocutor is simply misled by my yawning enthusiasm for his policy prescriptions into thinking I have no “serious” and “realistic” plan to help society, and that I want to “do nothing.”

Do nothing you say?

To the contrary, I advocate doing a lot, including the complete abolition of the Federal Reserve, the US Treasury, the US Federal Mint, the US departments relating to labor, trade, banking, securities, etc. It is those who want to merely tweak a bit here and there who are hem-hawing over making serious policy changes, and who have the gall to accuse me of advocating to “do nothing”!

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Arthur C. Clarke vs. Economics and Capitalism

(Austrian) Economics, Pop Culture, Science, Statism, Technology
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A few years ago in honor of Arthur C. Clarke’s then-recent birthday, I wrote on my own blog that he must never have read Ludwig von Mises and Murray Rothbard,

because according to this quote cited by Gregory Benford in his happy-birthday letter in Locus Magazine (January 2008), he claims that “there are some general laws governing scientific extrapolation, as there are not (pace Marx) in the case of politics and economics.” Well, far be it from me to disagree that Marx was wrong about a lot of things, but Clarke is wrong here. Sir Clarke, you may be 90 years old now, and happy birthday by the way, but it’s never too late to acquire a firm grasp of sound economic theory.

As disappointing as it is, it’s not surprising that he had a natural-scientistic bias against economics. Sadly, he died only a few months after my post.

In a more recent article in the Sri Lanka Guardian, more of Clarke’s economic ignorance is on display:

While researching for this article I came across a searing indictment by Clarke on the American capitalist system. After observing that the structure of American society may be unfitted for the effort that the conquest of space demands he continued, “No nation can afford to divert its ablest men into essentially non-creative and occasionally parasitic occupations such as law, insurance and banking”. He also referred to a photograph in Life Magazine showing 7,000 engineers massed behind a new model car they had produced as ‘a horrifying social document’. He was appalled by the squandering of technical manpower it represented. All this indeed makes one wonder whether he really was a closet socialist.

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Passing a BillMeNow For Later

(Austrian) Economics, Business, Nanny Statism
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Jeremy B. White of the NY Observer writes:

“City Council Member Brad Lander introduced a bill today that would require banks to help pay for the upkeep of foreclosed homes by posting bonds with a minimum value of $10,000.”

What he failed to write was that if this bill were to pass, new mortgage applications would either require a $10,000 fee to cover for foreclosure contingencies, or more likely just include a risk premium for that $10,000 bond. Even if the bill would ban sticking the potential mortgager with that bill, it would compel banks to be even stricter in their lending standards than they would have been otherwise, thus cutting off otherwise qualified applicants from buying homes, foreclosed or otherwise.

In either scenario, the tendency will be to have empty foreclosed homes sitting longer in unkempt vacancy than in the counterfactual situation in which the government didn’t meddle as much.

Don’t you love well-intentioned, yet clueless legislators?

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