I don’t agree with Mark Perry on a lot of material, and it holds true with this Posting, though he has relatively justifiable numbers. The idea that One-Quarter of all Wealth was produced in the last 7 years is a little hard to swallow; it basically only showing the absolute need to adjust for Inflation. I believe that American families have actually grown a tad in size since about 1984, but that information might be as solid as Mark’s provision. The 9.2 million Jobs created since the Recession does not list the number of Jobs lost in the last Recession. I agree with Mark in most of the rest of his Post though I probably should not; remember, the Concept of opening new Resource fields without utilization of up-to-date Technology for extraction of Resource stands as foolhardy. Mark and his Conservative friends must realize We must finance the optimal Extraction methods available; We cannot allow for cheap, slip-shod partial Recoveries which eliminate successful complete withdrawal of valuable resource.
Arnold Kling, Tyler Cowen, and Bradford Plumer all identified the Problem in China, and it ties in somewhat with the previous Paragraph. Law Enforcement is only noted for its failure; the real demon is Corruption. It survives because the benefits of itself occur immediately to all Participants, while the benefits of Law Enforcement accrue to All only after a substantial Lag-time. Corruption inevitably grows with Population numbers, as the Points of Enforcement multiply both the Law Enforcement Agents necessary, and the number of supervisory reviews to be made. Criminals lurk in the Walls, and the Corrupt sink into the floors; all, like Rats, coming out in force when it is Dark or Cloudy. Mao’s only mistake in calling out the Red Guards to combat Corruption was a belief that the Children could themselves stay free of Corruption.
The only sure method for suppression of Corruption consists of draconian Punishments for any Violation of the enforceable Code. Example: Anyone who consciously creates a Biohazard which endangers any Citizenry, Society, or Community will be put to Death if convicted; all within a 30-day Resolution of Appeal, where every Guilty party is fried if Judgement is still Out. Such Punishments may not diminish such Crime and Corruption, but it sincerely reduces the number of operating Violators at every Point in Time, and gives lawful Citizenry a sense of Accomplishment. We should take as many of the bastards with Us as possible, if We are going down. lgl
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