When The State Plays God Someone Lives and Someone Dies
The Fundamental Problem of Economics states that people with infinite demands will attempt to meet those demands with limited resources. This predictably fails. The best we can hope for is what is called a Pareto Optimal solution where you pretty much do the best you can with what you have. Much of the debate between boosters of command economies and free market economies centers on how a society works towards getting more to dole out and a Pareto Optimal distribution of what they have.
The socialists in Venezuela solve this problem by rationing. They ration food. The socialists in America solve this problem by rationing. They ration donated organs available for transplant. This can lead to heart-breaking and intractable dilemmas in which there is no answer that maximizes everybody’s happiness. In just such a dilemma, US Secretary of Health and Human Services, Kathleen Sebelius learned just how hard a job it was to be queen.
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Tags: BLack Markets
, Food Rationing
, Kathleen Sibelius
, Organ Transplants
After The Gold Rush
If I were an underemployed and thoroughly self-entitled crank, I could write three Volumes of horrendously lugubrious prose and describe it as my theory of life, the universe and everything.* When not earnestly engaged with inseminating his domestic help, an underemployed and thoroughly self-entitled crank named Karl Marx did exactly that. He called this Volumes I – III of Kapital. Natter on for over 2,000 pages, and even a guy like Marx will bury an occasional intellectual ruby beneath the copious mounds of pony-poop.
In light of the “Gold-Apocalypse” occurring today on Wall Street, Marx’s plaint regarding Commodity Fetishism may well be worth donning a protective mask and digging out. It could as an explanation for why my full-bodied monies recovered from the 16th Century Spanish Galion just aren’t all that valuable any more.**
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Tech at Night: FCC impedes universal access; Obama and the UN both want to regulate the Internet
Memorial Day weekend brought little news, so Tech at Night will be quick tonight. Enjoy. It’s an argument we’ve all made, but it apparently still needs to be made: Market pressure is better than government at protecting people’s ability to get what they want. We can see this from the actual behavior of actual companies, and that’s just one reason that Net Neutrality and countless | Read More »
Tags: Barack Obama
, IP Neutrality
, Net Neutrality
, Universal Access