Daily Archives: June 15, 2017

Jack Ma.

Corporate executives sometime like to talk about how their companies are overtaking nation states. In China, they tend to be careful not to outshine the government and avoid such analogies.Yet that's just what Jack Ma did last week.

At Alibaba's annual investor day, China's richest man outlined a vision where the company he founded could become the world's fifth-biggest economy by 2036, trailing only the U.S., China, Europe and Japan. Let's just say most entrepreneurs in Chinawouldn't make that comparison.

"Well, people say, this is too big," Ma said of the scale of Alibaba's ambition. "It costs nothing to imagine, right?"

Many shrugged the comments off as bluster from a man prone to making grand pronouncements. Mabased his prediction on the number of goods transacted on his platforms and the potential number of customers. AndAlibaba's $23.5 billion in revenue last year was still dwarfed by Alphabet's $90billion and Amazons $136 billion. In Ma's own words, the Chinese e-commerce giant is still just "a baby."

Yet in Hangzhou, in front of thousands of global investors, Ma planted the flag and claimed that his company would one day become one of the world's most powerful economies by serving2 billion people and helping 10 million small businesses trade freely on the web. On the face of it, the declarationencapsulates the libertarian dream of empowering individuals and transcending borders. Ma has spent years cultivating an image of a rebel fighting the system,knocking down walls protecting state-owned enterprises and becominga billionaire in the process.

Yet on closer examination, it's clearthat none of Ma's rhetoric ignoredthe groundwork that has already been laid out by Beijing, whether it's Chinaexpanding its footprint in Africa, exploring the ocean frontier in Southeast Asia, or revitalizing the once-famous Silk Road. When Xi Jinping was in Davos talking up global trade, Ma was quick to call (again) for his web-based version of the World Trade Organization. When China touted its One Belt, One Road project, Ma was quick to tout Alibaba's expansion in those regions.If anything, he's China's shadow diplomat, flying more than 870 hours and visiting 40 countries last year to meet with prime ministers and other leaders.

Ma's dabbling in international affairs is rooted in the goal of amassing billions of customers by 2036. By his own calculation, China will only be able to provide 40 percent of that market, the rest will have to be found overseas. Following China's Belt-Road project, setting up global trade platforms, even his promise to President Donald Trump to create a million jobs in the U.S. is all part of that plan.Indeed, Ma headsto Detroit next week to bring that message.

If anything, Jack Ma is a master in the dark arts of influence and international affairs. That probably makes him more of a savvy politicianthan a libertarian icon.

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Uberstumbled again as while seekingto fix its scandals.TPG Capital co-founder David Bonderman resigned from the ride-hailing company's board after making a sexist comment during a meeting intended to address rampant internal gender bias. The billionaire couldn't have picked a worse setting to interrupt a woman with a comment about how women talk.

Nintendo added more reasons to buy the Switch.The Japanese gaming company unveiled a slate of new titles for the hybrid console, seeking to boost sales during this year's critical year-end shopping season. Most anticipated is a brand-new Pokemon role-playing game, as well as Switch versions of Metroid4 and Rocket League.

The laptop ban on flights may be expanded, but the U.S. is looking for ways to avoid this (unpopular) step.Enhancements in the way airports outside the U.S. conduct screening may be enough to head off a ban on large electronic devices slated to cover broad areas of Europe and other regions, aDepartment of Homeland Securityofficial said.

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Jack Ma's Libertarian Talk Approaches Red Line - Bloomberg

Being Libertarian

Shortcuts & Delusions: Puerto Rican Statehood Is White Genocide Being Libertarian I have a co-worker who is of Puerto Rican descent. His name is Luis. We're about the same age. He's been married 20 years. He and his wife work, and their eldest son has just started college. We were both raised Roman Catholic. We're both concerned ... and more »

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Shortcuts & Delusions: Puerto Rican Statehood Is White Genocide - Being Libertarian

The Exporting Jobs Canard WSJ

Mr. Trump assumes that when U.S. multinationals expand abroad, it necessarily reduces the number of people they employ in the U.S. But this assumption is wrong, and tariffs would hurt American workers, not help them.

Academic research has repeatedly found that when U.S. multinationals hire more people at their overseas affiliates, it does not come at the expense of American jobs. How can this be? Large firms need workers of many different skills and occupations, and the jobs done by employees abroad are often complements to, not substitutes for, those done by workers at home. Manufacturing abroad, for example, can allow workers in the U.S. to focus on higher value-added tasks such as research and development, marketing, and general management. Additionally, expanding overseas to serve foreign customers or save costs often helps the overall company grow, resulting in more U.S. hiring.

The ultimate proof is in the numbers. Between 2004 and 2014, the most recent year for which U.S. government data are available, total employment at foreign affiliates of U.S. multinationals rose from nine million to 13.8 million. Yet the number of jobs at U.S. parent companies rose nearly as much, from 22.4 million to 26.6 million

President Trump is right that America needs millions more good-paying jobs. But he does not seem to realize they can be created by U.S.-based multinationals that know how to invest capital, operate globally and create knowledge. In 2014, U.S. multinationals undertook 45.4% of all private-sector capital investment, were responsible for 49.5% of all U.S. goods exports, and conducted a remarkable 78.9% of total U.S. private-sector research and development

Limit the ability of U.S. multinational companies to flourish abroad and you limit their ability to create high-paying jobs in America. Washington should base its policies on data and research, not anecdotes and assertions.

The Case For and Against Policing Todays Tech GiantsAxios

The Choice Facing Americans, According to Tyler CowenLibrary of Law and Liberty

Cowen, the Holbert L. Harris Chair of Economics at George Mason University and director of George Masons Mercatus Center, has best escaped the boundaries of his discipline to become a public intellectual who examines his assumptions as an economist by the light cast by other disciplines in the humanities and social sciences. Such an approach gives his work an admirable breadth, not to mention making it remarkably accessible to non-economists.

His new book is no exception. The Complacent Class: The Self-Defeating Quest for the American Dream has nine chapters. The first four draw mostly from economic and other social scientific data to try to explain an unhealthy trend that Cowen detects in our society, and even in the American character: a loss of flexibility and concomitant embrace of the status quo that were never, he argues, as pronounced before as they are today

Complacency runs contrary to what the author regards as the central trait of the American: her restlessness. Restlessness is a good thing, in Cowens view. It signifies the successful pursuit of economic opportunities, a dissatisfaction with the status quo, and the constant effort to innovate. The choice facing Americans, then, is either a kind of desperate preservation of the status quo and, with it, a rapid shrinking in opportunities; or the return to restlessness, with all of its risks, its violence, and its mobility.

Canada to Teach Computer Coding Starting in KindergartenPhys.org

A Market-Friendly Approach to Combating Climate Change Slate

Ultimately, the only way to combat American automobile dependency is to reform the way we build, and in particular, to help avoid low-density settlement patterns that make it impractical or impossible for Americans to get anywhere without a personal car

But even in Berkeley, liberals have a blind spot when it comes to housing policy and the transportation choices it requires. As a councilman in 2014, Arreguin pushed a ballot measure putting superstrict conditions on new development. It failed, but his elevation to mayor in November was seen as a reproach of his opponent Laurie Capitellis pro-development record.* It was a very clear choice between me and my opponent, who has literally rubber-stamped every [real estate] project that came before this council, Arreguin told the San Francisco Chronicle last fall.

At Tuesday nights City Council meeting, which touched on a number of housing issues, this dissonance was on display in a residents complaint about a proposed new building that would cast shadows on her zucchini plants. The project was returned to the citys Zoning Adjustments Board. The zukes live another day

That overturning housing restrictions is part of the fight for economic and racial justice is well-established. But in a moment of all-in activism and outrage over climate change, its worth reflecting on the degree to which the prohibition of infill housing is an environmentally reactionary policy.

The fewer people live in Berkeley and other job-rich, close-in Bay Area cities and suburbs, the more people have to drive. More than half of Berkeleys greenhouse gas emissions come from cars and trucks

Infill housing production is the municipal equivalent of driving a hybrid: If youre serious about fighting climate change, its no longer up for debate.

Why the Tighter Labor Market isnt Generating Better Pay WSJ

Janet Yellen and the Case of the Missing Inflation NYT

Inflation has stubbornly stayed lower than the Federal Reserve has desired for the past eight years, and it has been falling in the last few months. In a move that could well define her chairmanship of the central bank, Janet Yellen is betting that falling prices are a temporary blip that will soon be forgotten.

If her forecast is right, the Fed policy meeting on Wednesday will turn out to be a nonevent in a gradual return to normal policy. If shes wrong, the June 2017 meeting will look like a giant unforced error that unnecessarily prolonged an era in which the Fed proved impotent to get inflation up to the 2 percent level it aims for and lost credibility needed to fight the next downturn

What is worrisome is not direct economic damage, but the fact that the Fed has missed its (arbitrary) 2 percent target in the same direction undershooting year after year. If its not a drop in prices for cellphone plans, its a falloff in oil prices, or cheaper imports because of a strong dollar.

That in turn implies that the low-growth, low-inflation, low-interest-rate economy since 2008 isnt going anywhere. This would prove especially damaging if the economy ran into some negative shock; a lack of Fed credibility could leave it less able to prevent a recession.

Preparing for Brexit, Britons Face Economic Pinch at Home NYT

How Trump Can Make Apprenticeships a Hit Bloomberg

Replicating the German apprenticeship model in the U.S. would require nothing short of a revolution. For one thing, it would be expensive: The U.S. federal government spends $90 million a year on dedicated apprenticeship programs; accounting for both education and training, the German system costs $27 billion.

A more immediate challenge is to persuade U.S. employers to sign on. Few companies have the time or resources to educate, train, pay and certify apprentices. Thats especially true in industries without a track record of employing apprentices, such as technology, health care and finance. Many businesses leaders remain skeptical of the preparation that prospective apprentices receive from public high schools and community colleges. If the scale of a U.S. apprenticeship program is to come anywhere close to Germanys, apprentices will have to become easier for businesses to manage and public-education systems must be more responsive to the job requirements of local industries.

It can be done.YouthForce NOLA, a partnership of political, business and education leaders in New Orleans, places 1,200 high-school seniors from local public high schools in paid internships in fields such as software development and advanced manufacturing Another successful model is the state-run Apprenticeship Carolina program in South Carolina, which serves as an intermediary between businesses, workers and educational institutions.

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Links and quotes for June 15, 2017: Job offshoring, libertarian solutions to climate change, apprenticeships, and more - American Enterprise Institute

If you're interested in curious cultural phenomena, you may have taken notice of the tiny Pacific nation of Niuean idyllic Polynesian Eden, which is depopulating itself so dramatically that it will soon turn spontaneously into a wildlife refuge.

By population, the smallest country in the world is the Vatican. Niuepronounced "new way"is the smallest republic. According to its most recent entry in the CIA World Factbook, which was made in 2014, Niue's population is 1,190. It has an area of about 100 square miles, which makes it a little less than half the size of Guam; a little less than one-fourteenth the size of Long Island. Niue has a lower population density than Russia, and one 55th the population of Yankee stadium with a capacity crowd.

Despite being a beautiful, tropical paradise, Niue's population is dropping by about 3 percent a year. In 2000, its population was 1900; in 1990, 2,332; in 1980, 3,402, and in 1950, nearly 5,000. The reason for the plummet, as you can probably guess, is the absence of jobs. Niue is unfathomably remote; 1,700 miles northeast of New Zealand; 2,800 southwest of Hawaii, 3,600 miles east of Australia. Few people see a future on the Island. Niue is an independent Republic in free association with New Zealand, and as part of the deal, Niue's citizens are also offered New Zealand citizenship. New Zealand's annual gross domestic product is $186 billion. Niue's is a little less than $25 million; by far the lowest of any country in the world (though not unimpressive for a country with only 1000 people in it). Its three main industries are tourism, fishing and agriculture; subsistence farming is common. The government is in debt, and receives considerable sponsorship from New Zealand, which is also, at Niue's request, responsible for Niue's national defense. The upshot of all this is that New Zealand is slowing siphoning off Niue's remaining Niueans. Unless something changes, the remaining, aging Niueans will die-off or move. Inevitably, before long, Niue will be empty, and that will be that.

By area, the smallest country in the world, is the Vatican. Monaco is second. The third smallest country in the world is Liberland, which is 2.7 square miles on the Danube between Croatia and Serbia. Liberland's tiny patch of territory was, prior 2015, terra nulliusCroatia said it belonged to Serbia and Serbia said it belonged to Croatia. Noticing this, libertarian activist Vit Jedlika claimed it, and established the pure libertarian Free Republic of Liberland. However, It's a country recognized by no one. The legal situation is this: Serbia claims the Danube as its north-western border with Croatia. Croatia says some of the land on the Serbian side of the Danube belongs to it, and some of the land on the Croatian side belongs to Serbia. This left a microscopic parcel of land on Croatia's side claimed by neither of the two.

As regards Liberland's claim, Serbia says it doesn't care. Croatia, however, has blocked Liberlandians from entering the area, fearing that if the land isn't accorded to Serbia, it will weaken the Croatian claims to the disputed land on the Danube's other side. So for the moment, Liberland is a stateless state.

But I admire it. Most Americans will, once they've had a look at it. Liberland's constitution, written in English and available on its website, borrows liberally from oursmost importantly, in its Bill of Rights. The problem with most almost-free countries is a lack of protection against an overbearing government; too many republican governments have been formed under the assumption that so long as a government is of the people and by the people, it is free to do whatever it wants for, or to, the people. Liberland preempts this problem with strict and explicit limits on the powers of government, and the most iron-clad and extensively detailed Bill of Rights ever written. The Bill of Rights broken down into sections on freedom of speech and information, property rights, privacy rights, the rights of the accused, rights of "physical liberty," equality before the law (including freedom of religion), and "the right to self-defense and defense of one's rights and property," including against the government. The primacy of Liberland's Bill of Rights is enshrined in its Constitution's preamble (which, keep in mind, was written by people for whom English is a second language): "Being aware of a long and shameful list of governments' trespasses to the Rights of the sovereign Individuals, we hereby declare that the Public Administration governing the Free Republic of Liberland shall first and foremost respect the Bill of Rights and exercise only such functions as have been delegated to it under this Constitution. Therefore, we declare that whenever the Public Administration becomes an obstacle to, rather than a guarantor of, our Rights, it shall be our duty to alter or abolish such government, and to institute a new government for the restoration of the Rights which we consider inherent in all human beings."

If you have some time, read the whole Liberland constitutionit's inspiring, even though it lacks the poetry of the American constitution. Though I should point out, the first draft of Liberland's constitution, from 2015, began very poetically: "We, the Citizens of the Free Republic of Liberland, in order to establish justice, insure domestic tranquility, provide for the common defense and secure the blessings of liberty to ourselves and future generations, do ordain and establish the Constitution of the Free Republic of Liberland."

Liberland is the republic that would have been created by John Locke and Milton Friedmanand Thomas Jefferson, et al, if they had been free of the obligation to compromise. It lacks land, but it has citizensor at least perspective citizens: according to the Guardian, in the week following its 2015 declaration of independence, Liberland received 200,000 applications for citizenship.

Niue, on the other hand, has land: 100 square miles, 40 times as much as Liberland has claimed in the Balkans. But of course it lacks peoplenearly the entire population could fit on a single Jumbo Jet. Citizens of Niue who wish to stay need an infusion of people, enough to create an economy with jobs and prospects for their children. Ideally, they want an infusion of people who won't interfere with their life style. In other words, they need libertariansand as it happens, libertarians needs them.

It takes 3 years of residence to become a citizen of Niue. If a few thousand Liberlandians were to move there, they would save the island and the nation, and the remainders of Niue culture (only about 650 Niuean citizens are ethnically Niuean; only about 500 of those speak the Niueain language). After a few years, the libertarians could vote to amend the Niue constitution and institute their policies of pure freedom, none of which would encroach in anyway on the surviving Niuean traditions. The Liberlandians would have land on which to enjoy their utopian ideals, andvia the accompanying guarantees of free trade, a free market and businesses free from government interferencethe Niuean economy would likely see "Asian Tiger" type economic growth (being so far off the beaten path, though, this would primary start as tax-haven growth).

Most importantly, the world will have a chance to see the success of a country based on unadulterated liberty, andas a bonuscome to understand that America's strength and prosperity are not accidental.

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Libertarians and the Idyllic Island Nation That's Running Out of People - The Weekly Standard

Last fall, the Libertarian Party of New Hampshire reached an important milestone: They managed to get 4 percent of the vote in the governors race, giving them official party status and a place on New Hampshire ballots. But a snag for one candidate seeking to run in the House special election highlights the fact that many of the state election laws were still built for a two-party system.

When a House seat opened up in Grafton, John Babiarz wanted to run as a Libertarian in the upcoming special election.The problem? When he went to register, he says the town clerk blocked him from changing his party registration from undeclared and filing necessary paperwork to be on the ballot.

In a normal election cycle, the law gives voters a chance to change their party affiliation before the filing period for a primary election.

Typically before an election season starts, there is an opportunity for voters to meet with the Supervisors of the Checklist and change their party affiliation before the filing period opens, Deputy Secretary of State Dave Scanlan explained. That gives the voter an opportunity to become a candidate in the party they want, but also any voters party affiliation is locked in from the filing period until after the primary election.

But Babiarzs case highlighted a gap in the state law for special elections: The window of time between when an elections called and when the filing period starts is much narrower and doesnt allow for the same flexibility for candidates like him to change party status.

In this case of the special election, the governor and council set the date of the special election, and its done on a Wednesday. The filing period starts the following Monday. So theres very little opportunity for the Supervisors of the Checklist to call a meeting together and properly advertise it.

And whats new about this process, both Scanlan and Babiarz noted, is the inclusion of another political party that wasnt previously recognized.

I think for too long, the two major parties had everything set. They were comfortable with it. But when you have a new party with special elections They didnt take that into consideration that a new party would just start ramping up new membership, people may have not changed over to have the valid thing to run like everybody else.

On Tuesday, the state ballot law commission sided with Babiarz, ordering election officials to allow him to add his name to the ballot for the July 18 primary.

The commission said the law needs to be updated to fix the gap this case illustrates something Babiarz hopes to have the chance to do, should he win his bid for the seat, as a Libertarian.

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Ballot Law Commission Grants Libertarian Candidate a Spot in NH House Special Election - New Hampshire Public Radio