Category Archives: Social values

As Bradley Manning Trial Proceedings Begin, Killers of Iraqi Civilians Go Unpunished

As Bradley Manning’s trial is about to move forward, the Real News Network provides a useful and timely reminder of one of the key incidents that Manning publicized, the shooting of a group of Iraqi citizens that included Reuters reporters by a helicopter gunship.

I have a pretty tough constitution, but I was really sickened by this video. I can see why the authorities would be keen to discourage this sort of release.

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Philip Pilkington: The Austrian Disease – Poor Scholarship, a Priori Bias

By Philip Pilkington, a journalist and writer living in Dublin, Ireland

Recently I wrote an essay claiming that Austrian economics provided a metaphysical-theological basis for what is today called ‘libertarianism’ – a popular, dogmatic political cult in the vein of Marxism-Leninism. The essay was abstract and, quite possibly, a bit obtuse – for that I apologise, but such is the nature of the material.

If I am correct and libertarianism is a political cult and its foundations were laid by the Austrian economists, what real world effects does this have?

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Journey into a Libertarian Future: Response to Reader Comments

By Andrew Dittmer, who recently finished his PhD in mathematics at Harvard and is currently continuing work on his thesis topic. He also taught mathematics at a local elementary school. Andrew enjoys explaining the recent history of the financial sector to a popular audience.

Many readers wrote in warm and thoughtful comments on the series I wrote interviewing Code Name Cain. I was unfortunately away when the series first posted, and so was not able to respond immediately. Here are some reflections.

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Eurocrisis Solutions For Whom?

This Real News Network segment was recorded before the supposed “this time we’re really gonna fix it” Eurozone deal was announced today. Nevertheless, it is a useful discussion of the political dynamics that drove the pact.

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Most Evil Person of the Year Award?

Reader MyLessThanPrimeBeef inquired after having a NC Most Evil Person of the Year Award, and Doc Holiday was enthusiastic:

Smashing concept! I see member votes, contributions, discussions, videos, pixs, stories, editorials and a big build-up, possibly door prizes, publicity, snaxs, parties and a great summation of who had done the most damage to the global economy … best role by a central banker, best supporting role by a Greek Prim Minister, Best financial illusions, best use of a MEFO Covered Bond by a German, Best Italian bankruptcy, Best French Connection, Largest Chunk Of Cash Looted or Burned … great lists that could go infinitely, as we continue our exploration of the black hole this drama is played out in!

Doc is correct in that this is a target rich environment.

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Piketty, Saez and Stantcheva: Taxing the 1% – Why the Top Tax Rate Could be Over 80%

Yves here. By happy coincidence, a mere day after Jamie Dimon offered yet another misleading defense of the 1% (among other howlers, claiming that their marginal tax rates were their effective tax rates), the gurus of income inequality, Thomas Piketty and Emmanuel Saez, say there is no good case for coddling the rich. Their analysis shows that top marginal tax rates could rise to near Eisenhower administration levels (the top tax rate then was 91%) and not hurt growth.

By Thomas Piketty, Professor, Paris School of Economic, Emmanuel Saez Professor of Economics, University of California, Berkeley and Stefanie Stantcheva, PhD candidate in Economics, MIT. Cross posted from VoxEU

The top 1% of US earners now command a far higher share of the country’s income than they did 40 years ago. This column looks at 18 OECD countries and disputes the claim that low taxes on the rich raise productivity and economic growth. It says the optimal top tax rate could be over 80% and no one but the mega rich would lose out.

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Philip Pilkington: Libertarianism and the Leap of Faith – The Origins of a Political Cult

By Philip Pilkington, a journalist and writer living in Dublin, Ireland

You wanted God’s ideas about what was best for you to coincide with your ideas, but you also wanted him to be the almighty Creator of heaven and earth so that he could properly fulfil your wish. And yet, if he were to share your ideas, he would cease to be the almighty Father.

– Søren Kierkegaard

Political cults often have the strangest and most obscure origins. Take Marxism, for example. Today it is well-known that Marxist doctrine essentially sprang out of the obscure 19th century economic debates over the source of ‘value’. By ‘proving’ – that is, lifting the assumption from classical political economy – that all ‘value’ came from labour, Karl Marx went on to show that it was therefore only logical to assume the existence of something called ‘surplus value’ that was sucked out of labourers by a parasitic capitalist class. From out of this obscure debate flowed an awesome political movement – and a tyranny to match.

What is less well-known is that today’s most popular political cult – that is, libertarianism – was born in very similar circumstances; it too, arrived into the world out of the obscure 19th century debates over economic ‘value’.

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Journey into a Libertarian Future: Part VI – Certainty

By Andrew Dittmer, who recently finished his PhD in mathematics at Harvard and is currently continuing work on his thesis topic. He also taught mathematics at a local elementary school. Andrew enjoys explaining the recent history of the financial sector to a popular audience.

Simulposted at The Distributist Review

This is the sixth and final installment of an interview series. For the previous parts, see Part 1, Part 2, Part 3, Part 4 and Part 5. Red indicates exact quotes from Hans-Hermann Hoppe’s 2001 book “Democracy: The God That Failed.”

ANDREW: You’ve explained to me how in the libertarian society of the future, everyone will be free and their rights will not be violated. However, many people will be coerced in a noncoercive way, and a lot of people will be effectively slaves in a rights-respecting manner. Some people will be effectively killed in a rights-respecting manner. Why are you dedicating your life to making this society possible?

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On the Austerity and Rule by Big Finance in Greece

This Real News Network interview nominally is about whether Greece should leave the Euro. But it is really about the struggle between the bondholders, who are crushing Greek democracy and society, versus the population. The interviewee Costas Lapavitsas makes an forceful case why defying the banks is the best route for Greek society, even thought the transition will also be difficult.

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Journey into a Libertarian Future: Part V – Dark Realities

By Andrew Dittmer, who recently finished his PhD in mathematics at Harvard and is currently continuing work on his thesis topic. He also taught mathematics at a local elementary school. Andrew enjoys explaining the recent history of the financial sector to a popular audience.

Simulposted at The Distributist Review

This is the fourth installment of a six-part interview. For the previous parts, see Part 1, Part 2, Part 3, and Part 4. Red indicates exact quotes from Hans-Hermann Hoppe’s 2001 book “Democracy: The God That Failed.”

ANDREW: In the last interview, you told us how GLOs in the Middle Ages were noblemen, publicly recognized as being a cut above the ordinary person. Have the rich people and corporate leaders of today also risen to the top by being natural leaders?

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Rob Johnson on Real News Network on the Fed’s Lifeline to Eurobanks, and the Rationale for Austerity

Rob Johnson brings a wide ranging perspective (from politics, as a former Senate staffer; from markets, as a former hedge fund manager; and an economist, by training and via his current role as head of the Institute for New Economic Thinking) to this interview on the immediate and deeper implications of the central bank intervention on behalf of the Eurozone earlier this week. Johnson is deeply skeptical both of the near and longer-term approaches taken to rescue the Euro. This talk has a particularly clear and layperson friendly discussion of the rationale for and failings of austerity.

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Yasha Levine Released From Jail, Exposes LAPD’s Appalling Treatment Of Detained Occupy LA Protesters…

By Yasha Levine, an editor of The eXiled. You can reach him at levine [at] exiledonline.com.. Cross posted By Yasha Levine, an editor of The eXiled. You can reach him at levine [at] exiledonline.com.. Cross posted from The eXiled

I finally got home Thursday afternoon after spending two nights in jail, and have had a hard time getting my bearings. On top of severe dehydration and sleep deprivation, I’ve got one hell of pounding migraine. So I’ll have to keep this brief for now. But I wanted to write down a few things that I witnessed and heard while locked up by LA’s finest…

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Michael Hudson: Debt and Democracy – Has the Link Been Broken?

By Michael Hudson, a research professor of Economics at University of Missouri, Kansas City and a research associate at the Levy Economics Institute of Bard College

A longer version of this article in German was published in the Frankfurter Algemeine Zeitung on December 5, 2011 [the FAZ provided this anachronistic note].

Book V of Aristotle’s Politics describes the eternal transition of oligarchies making themselves into hereditary aristocracies – which end up being overthrown by tyrants or develop internal rivalries as some families decide to “take the multitude into their camp” and usher in democracy, within which an oligarchy emerges once again, followed by aristocracy, democracy, and so on throughout history.

Debt has been the main dynamic driving these shifts – always with new twists and turns. It polarizes wealth to create a creditor class, whose oligarchic rule is ended as new leaders (“tyrants” to Aristotle) win popular support by cancelling the debts and redistributing property or taking its usufruct for the state.

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Journey into a Libertarian Future: Part IV – The Journey into a Libertarian Past

By Andrew Dittmer, who recently finished his PhD in mathematics at Harvard and is currently continuing work on his thesis topic. He also taught mathematics at a local elementary school. Andrew enjoys explaining the recent history of the financial sector to a popular audience.

Simulposted at The Distributist Review

This is the fourth installment of a six-part interview. For the previous parts, see Part 1, Part 2, and Part 3. Red indicates exact quotes from Hans-Hermann Hoppe’s 2001 book “Democracy: The God That Failed.”

ANDREW: The GLOs in your future libertarian society will be continuations of GLOs that exist now – basically large corporations and high net worth individuals. And the modern GLOs are continuations of GLOs that existed in the past.

CODE NAME CAIN: True – GLOs have a long and proud history.

ANDREW: In our society and in the past, both GLOs and regular governments have certain legal rights.

CNC: That’s right. But the legal rights of the governments are all completely illegitimate, whereas the legal rights of GLOs are all completely legitimate. That’s why I act morally when I hide my assets from the U.S. government.

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