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establishment

The Establishment, The Real Deplorables

in Economics/Politics by

To those who say that Trump is going to lose this election: conventional wisdom agrees with you, as do the various betting pools out there. Of course, Brexit reminds us that the anti-establishment, populist vote in this election cycle is probably larger than the polls would indicate. Still, is it likely that lightning will strike the same place twice and give us two Brexits in the same year? Again, conventional wisdom would say no, which is why you have history, most current polls, and common sense on your side when you say that the election is lost. My sense is that we shall know on Sunday evening if Trump can come back from his present deficit in the polls. Either Trump acts like a president and manifests a greater command of the issues than he did in the first debate, or he looks like an amateur out of his league. None of this will matter to avid fans like myself who are motivated either by populist anger against elites or,…

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Zuckerberg Embraces The Establishment

in Economics/Tech by

There are two obvious branches of the economy.  There is the market economy, entirely benevolent in nature and identified by its voluntary and mutually beneficial transactions, its natural coordination of scarce resources, and its ability to increase prosperity.  And the political economy which is entirely malevolent in nature, and is identified by its reliance on coercion and force, its bureaucratic inefficiencies, and its manipulation of fear, greed, and envy to serve the ends of a select few. Actors in both spheres of the economy are driven by a desire to better their own lives, the lives of their loved ones, and their community around them. In the market economy, individuals compete to sell goods and services to other individuals.  These voluntary transactions are mutually beneficial to all parties involved the vast majority of the time precisely due to their voluntary nature (no party would voluntarily enter into the transaction unless they felt they were being served through it).  Rising to the top in the market economy is immensely difficult,…

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