Just being a blogging crony by plugging an article written by my son, Yonathan, over at Mises. It's a very well written and good explanation of how once-mighty Japan got into the horrid economic mess in which it now finds itself. He comes at it, admittedly, from a strong libertarian perspective.
I think the money quote is, "A country that consumes more adult diapers than baby diapers is a nation on its way to the dustbin of history." I would have added, "Well, it all Depends . . . "
Anyhow, read it. It's worth the time and it's free.
Wow. Two comments: The apple doesn't fall far from the tree and that reads like something from Mark Steyn. I mean both of those statements as the highest of praise.
ReplyDeleteI guess all credit for your son turning out so well goes to your wife? ;)
Great read; clearly a chip off the old block.
ReplyDeleteI'll admit to a lot more sympathy for Hayek and Mises than for Keynes, but I think it's also important to note that in Japan, the US occupational forces played a role in the rebuilding. Taiwan, where I lived, taught, and started a family, was also Japanese from 1895-1945 (taken from and retroceded to China) and suffered accordingly during the war. It also received a lot of Cold War US aid. While the reconstruction and post-war growth of both Japan and Taiwan are chiefly a testament to the energy and resourcefulness of those countries' peoples when allowed to do what they do best, we cannot discount the role of governments, aid (when used wisely), and foreign investment in their rise.
ReplyDeleteUnfortunately, Japan and "Japan Incorporated" were widely quoted as a great example of mercantilism and government meddling in the economy.
ReplyDeleteSeems you’ve formulated a Universal Cure Yonathan!
ReplyDelete"It Is Not Too Late
[ Insert western country name here____USA______] has a highly capable workforce, an impressive industrial base, and all the infrastructure necessary to reassert itself as a global commercial powerhouse. The __USA__ recovery means cutting taxes, [and useless government interventions], paring down its outrageously expensive mercantile policies, allowing for [proper vetting], easier immigration of foreign companies and their [vetted] [key] employees, and letting the market decide the true value of the US dollar. [The American] people need to reject the [Political] schemers and [Crony] planners who are suffocating a great nation."
These remedies could be a prescription for MakingAmericaGreatAgain! Salute to you Yon, your mentor, and to the Japanese who still remember General MacArthur’s contributions to their postwar "miracle".
On Watch~~~
“Let’s Roll”
It is quite amazing how the same Liberal forces clamoring for escalating regulations also call for the dismantlement of the only institutions capable of implementing said regulations, namely, the exceedingly large corporations which have the legal and technical staff to implement those regulations while remotely following them.
ReplyDeleteBut I guess they're not really calling for the destruction of those companies, they're more calling for the 'nationalization' of those companies. An invasive enough regulatory regime is impossible to distinguish from nationalism.
Get used to it now: "Heil Hillary!"
- reader #1482
Greetings from Downunder,
ReplyDeleteI prefer this one:
"After all, no government scheme could rightfully call itself a government scheme if it didn't enrich somebody at the direct expense of others".
All stand for Dip and the Son of Dip.
I don't know Son of Dip would be shortened to SOD . . .
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