You are browsing the archive for 2013 February 15.

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Ronald Dworkin, R.I.P.

February 15, 2013 in Uncategorized

By David Gordon

Ronald Dworkin,  (1931-2013) who died yesterday, was widely regarded as America’s leading legal philosopher. He was decidedly not a libertarian, but libertarians will find much of interest and value in his work.  His defense of moral objectivity in his Justice for Hedgehogs (2011) is especially impressive. He argues that views about the nature of morality are themselves moral positions. If you say, e.g, that there is no objectively correct answer to the question whether abortion (or anything else) is morally  wrong, you are in effect saying that abortion is morally permissible. The supposed external criticism of morality–there is no such thing as moral truth— is really an internal proposal within morality. Many people will instinctively reject this “quietest” position; but if they do, they will I predict find it hard to show exactly where Dworkin goes wrong.

His famous essay “Is Wealth A Value?”, available in his collection A Matter of Principle, is a devastating criticism of Richard Posner’s wealth-maximization approach to law. Those of us who prefer a Rothbardian defense of the free market to the supposedly more scientific Chicago School view will find in Dworkin’s essay much of value. Although libertarians will find him far too egalitarian, he offers in Sovereign Virtue a strong emphasis on individual responsibility. In the same book, he offers some penetrating observations about Rawls’s Theory of Justice. My own favorite essay of his, also in A Matter of Principle, is his demolition of Michael Walzer’s Spheres of Justice. If you read it, you will see right away that Dworkin was a great critic.

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Source: MISES INSTITUTE

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America is Ready to Audit the Fed

February 15, 2013 in Uncategorized

By C4L_Intern

By: David Heacock

A quick search this morning for articles on the Federal Reserve returned some headlines that are telling of the public’s sentiment toward the Central Bank, namely: “Federal Reserve policies hurt the poor,” “Two Awful Anniversaries: Income Tax and Federal Reserve,” and “The Real Risk-Takers Are at the Federal Reserve.” Many are skeptical of the Fed’s true benefit in regulating the economy, and by and large, most Americans are in favor of auditing this institution, especially in light of how it handled (or caused) the housing bubble.

As Alan Greenspan once explained, the Fed acts independently from the Executive and Legislative branches. While it uses government monopoly to manage Americans’ money, its decisions cannot be overruled by the citizens’ elected officials. At the least, the people should be told how the Fed directs its funds and decides it policies. It is imperative for any free society to have such information disclosed to promote openness in government policy.

Last year, Rep. Ron Paul’s Audit the Fed bill (H.R. 459) passed in the House overwhelmingly, 327-98. Unfortunately, Senate Majority Leader Harry Reid vowed to block the bill from being voted on in the Senate, despite advocating for an audit of the Fed throughout his career.

This year, Ron Paul’s Audit the Fed is back in the form of H.R. 24 in the House and S. 209 in the Senate. Senate Republican leader Mitch McConnell has publicly committed to working with bill sponsor Rand Paul to find a way around Harry Reid and bring the bill to the Senate floor for a vote. We have a great chance to make history in the 113th Congress by getting an audit of the Federal Reserve and unraveling the role it’s played in our economy for 100 years. Please, call and email your representative and senators urging them to cosponsor H.R. 24 and S. 209, respectively.

The post America is Ready to Audit the Fed appeared first on Campaign for Liberty.

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Source: CAMPAIGN FOR LIBERTY

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The Fed Is Blowing More Bubbles

February 15, 2013 in Uncategorized

By Joseph Salerno

U.S. farmland prices

As if any more evidence were needed (see my CB post earlier this week) that the Fed has succeeded, either through ignorance or design, in igniting new asset bubbles throughout the economy, the Federal Reserve Bank of Kansas City just released a survey of bankers that confirms a continuing rise in U.S. farmland prices. The following chart shows the stratospheric year-over-year rise in non-irrigated cropland prices for 3Q 2012.

As reported by The Blaze, one analyst noted, “If this trend continues . . . these agricultural areas may very well become ‘New Manhattans’ (as far as wealth is concerned).” The chart below from the report by the Kansas City Fed puts this stunning trend in temporal perspective and reveals that it extends across all farmland, including irrigated cropland and ranchland.

all farmland prices

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Source: MISES INSTITUTE

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Quote from Dwight D. Eisenhower

February 15, 2013 in Uncategorized

“A preventive war, to my mind, is an impossibility today. How could you have one if one of its features would be several cities lying in ruins, several cities where many, many thousands of people would be dead and injured and mangled, the transportation systems destroyed, sanitation implements and systems all gone? That isn’t preventive war; that is war.
I don’t believe there is such a thing; and, frankly, I wouldn’t even listen to anyone seriously that came in and talked about such a thing.
… It seems to me that when, by definition, a term is just ridiculous in itself, there is no use in going any further.
There are all sorts of reasons, moral and political and everything else, against this theory, but it is so completely unthinkable in today’s conditions that I thought it is no use to go any further.”
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Dwight D. Eisenhower News Conference of (11 August 1954)

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Federal Legislation To Protect Medical Marijuana States Introduced

February 15, 2013 in Uncategorized

By Jay Smoker Bill Would Remove Marijuana from Schedule I and Halt Federal Government Interference With State Medical Marijuana Regulation Yesterday, Rep. Earl Blumenauer (D-OR) introduced legislation that would recognize the medicinal use of marijuana and remove marijuana from Schedule I of the Controlled Substances Act. The issue of regulating medical marijuana would be returned to the states, [Continue Reading]

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Source: THE WEED BLOG

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Stop the Internet Tax Mandate

February 15, 2013 in Uncategorized

By Matthew Hawes

C4L President John Tate has a new op-ed in The Daily Caller today asking liberty-minded Americans to join Campaign for Liberty in fighting the new Internet Tax Mandate proposal currently in Congress.  S. 336 and H.R. 648 would turn online retailers into tax collectors for the state and could have a devastating, stifling impact on innovation, jobs, and online entrepreneurship.

After you read the op-ed, take action to stop this new tax authority by signing our “No National Internet Tax” petition.  And be sure to pass along both John’s op-ed and our petition to your family, friends, and other contacts.

Next Valentine’s Day may be significantly more expensive for millions of Americans who purchase Valentine’s Day gifts for their significant others over the Internet, thanks to big-spending politicians in Washington and state capitals across the country.

The post Stop the Internet Tax Mandate appeared first on Campaign for Liberty.

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Source: CAMPAIGN FOR LIBERTY

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My Apology to Paul Krugman

February 15, 2013 in Uncategorized

By Mark Thornton

From time to time I have been critical of Professor Paul Krugman, the Nobel Laurette from Princeton University and the New York Times. Recently I criticized his use of the babysitter model of the economy. However, Robert Blumen brought to my attention that I had unfairly criticized Krugman in my paper on the deflation phobia, Apoplithorismosphobia. I wrote: “Krugman falls into the gibber-jabber of sophomoric circular reasoning” and then quoted Krugman:

“If you think about this a bit, the story gets even worse. After all, prices are falling because the economy is depressed; now we’ve just learned that the economy is depressed because prices are falling. That sets the stage for the return of another monster we haven’t seen since the 1930’s, a “deflationary spiral,’’ in which falling prices and a slumping economy feed on each other, plunging the economy into the abyss. It’s pretty scary stuff, not just for Japan but for the rest of us. If Japan slides into the abyss, that will have a direct adverse effect on our economy dwarfing anything the terrorists did.” (Krugman 2002d)

Robert Blumen correctly points out that Krugman is discussing a circular process, but he is not using “circular reasoning.” Krugman is actually using reasoning based on a positive feedback cycle. His analysis is still wrong, but for my mistake I fully apologize to Professor Krugman.

In fact he is so wrong that I also wish to apologize to sophomores everywhere. Their errors on economics exams are to be expected and are not harmful. Krugman’s errors cannot be forgiven and are truly dangerous.

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Source: MISES INSTITUTE

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MMJ Business Daily To Hold Cannabis Industry Seminar For NY, NJ, And Connecticut Medical Marijuana Investors and Entrepreneurs in New York March 14th

February 15, 2013 in Uncategorized

By Johnny Green MMJ Business Daily, the cannabis industry’s most-respected professional news source, will hold an exclusive seminar in New York City on Thursday, March 14th, from 6-10pm. New Jersey, Connecticut and New York-area investors and entrepreneurs interested in cannabis and medical marijuana business opportunities will hear the latest financial data, legal advisories, and niche opportunities. For tickets [Continue Reading]

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Source: THE WEED BLOG

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Missouri Governor Pushes More Money For Drug Prohibition Enforcement

February 15, 2013 in Uncategorized

By Johnny Green By Dan Viets, J.D., SMCR Board Chair Governor Nixon, despite a general budget crunch in the state of Missouri, and a lack of funding for education and health care, is urging the Missouri General Assembly to appropriate $3,000,000 in tax money to provide additional funding for state “drug task forces.” This is to replace an [Continue Reading]

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Source: THE WEED BLOG

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Contact Your Missouri States Legislators!

February 15, 2013 in Uncategorized

By Johnny Green Last week, Representative Rory Ellinger introduced two important bills. One would decriminalize (but not legalize) possession of less than 35 grams of cannabis by preventing arrests and keeping the charge off the defendant’s public record. The other would allow peoplepeople who plead guilty to or are convictedof non-violent cannabis offenses,among many other non-violent misdemeanor offenses, [Continue Reading]

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Source: THE WEED BLOG