It’s Called Justice!

Penn State College of Engineering
Penn State College of Engineering (Photo credit: Wikipedia)

 

It’s Called Justice!

 

This is what happens when a university covers up crime. It’s what’s supposed to happen. It’s not an anomaly except in the sense that so often it does not.

 

Should they have had to pay this money and fire those people?

 

Yes.

 

How do you get justice without penalty? How do you get people to not aid and abet in the crimes of others if there are not penalties? How do you get people from sweeping criminal conduct under the rug if it threatens the institutions reputation if the penalties for not sweeping don’t do as much damage?

 

What’s scary is how seldom justice happens. This time, people got fired. This time, there were criminal prosecutions and  monetary penalties.

 

Compare this to our standard international or investment bank narrative. 1. Bank does something terrible and utterly illegal. 2. Against all odds bank gets caught. 3. Bank says, “What wrongdoing?” against a background of overwhelming evidence. 4. Bank pleads guilty only after prosecution has been taken off the table. 5. Bank pays roughly 10%  of what it made by outright criminality. 6. Roughly two years pass, and the bank once again gets caught doing the same old thing or something brand new. 7. The cycle goes on.

 

It’s a pity that child abuse brings out societal anger but not house stealing or international money laundering.

 

We can bet Penn State will be keeping a careful eye on its policies in the future.

 

Can we say the same for our investment banks?

 

James Pilant

 

Sandusky fallout costs Penn State more than $50 million | News | CentreDaily.com

 

http://www.centredaily.com/2013/10/14/3837882/sandusky-fallout-costs-penn-state.html

 

The money Penn State has spent in legal and consulting fees for the Jerry Sandusky scandal has topped $50 million. Penn State’s latest update shows the university has spent $50,459,828 through July 31 for work done by more than three-dozen firms. That’s up $1,025,962 from what the university spent through June 30, according to monthly updates provided by Penn State. The potential total cost of the scandal skyrockets to more than $158 million when factoring in the dollar value of the total settlement offers with Sandusky claimants and the full NCAA fine, which the university is paying in yearly installments.

 

via Sandusky fallout costs Penn State more than $50 million | News | CentreDaily.com.

 

From around the web.

 

From the web site, BHA Journalism – (Their new web site).

 

http://bhsjournalism.wordpress.com/2012/11/30/penn-state-scandal-follow-up/

 

Arguably the single greatest controversy ever to mar the reputation
of a nationally recognized university, and certainly the incidence of
greatest infamy ever to involve a university’s athletic
department, the Pennsylvania State sex scandal was one which, at its
height, captivated the nation, prompting a variety of emotional
responses amongst members of the general public, the most profound of
which occurred amongst those with personal connections to the Penn State
football program. While the event is one which may have faded from the
forefront of public attention, the emotional trauma inflicted by the
scandal upon those personally involved is likely to be of a far more
enduring nature.

 

At the onset of the scandal, allegations of sexual
misconduct against assistant coach Jerry Sandusky prompted widespread
outrage, which became exponentially more vitriolic when it was
discovered that many of Sandusky’s alleged misdeeds were said to
have involved minors. The subsequent controversy which developed in the
wake of these allegations would be of a severity so great as to nearly
completely divert public attention from other major events affecting the
campus in subsequent months, most notably the removal of longtime head
coach Joe Paterno from his position within the program, just months
before his death due to a long-gestating lung cancer. Even in light of
these developments, those convinced of Sandusky’s guilt would continue
to demand that justice be served, and would see their desires
fulfilled on Tuesday, October 9, when Sandusky would plead guilty to ten
separate instances of sexual abuse involving minors, which were
conducted over a fifteen-year period.

 

Self Regulation and Chicken!

Can't claim credit for this cooking, my friend...
Can’t claim credit for this cooking, my friend Paul was responsible. (Photo credit: Wikipedia)

 

Self Regulation and Chicken!

 

Here Milton Friedman explains that business will self regulate without government regulation.

 

How do you feel about that? Ever had food poisoning? Fun?

 

I don’t get the impression that businesses aren’t willing to lose a few customers (and I mean permanent losses) if it means more profits.

 

Maybe I’m cynical or maybe I just read the news?

 

Or how about this?

 

How many people have to be killed or injured by supposedly self regulating businesses before you realize that Milton Friedman was a much better television celebrity than an economist?

 

James Pilant

 

Is our chicken safe to eat? | Business Watch | McClatchy DC

 

http://www.mcclatchydc.com/2013/10/17/205695/us-urged-to-do-more-to-protect.html

 

After 317 people in 20 states got sick from eating contaminated chicken, consumer groups today urged the U.S. Department of Agriculture to do a better job of inspecting poultry.

 

via Is our chicken safe to eat? | Business Watch | McClatchy DC.

 

From around the web.

 

From the web site, Eslkevin’s Blog.

 

http://eslkevin.wordpress.com/2013/10/09/government-washes-its-hands-of-meat-and-poultry-safety-inspections/

 

In 1998, USDA rolled out its pilot HACCP system. The acronym stood

 

for “Hazard Analysis and Critical Control Points” but federal meat

 

inspectors, industry watchers and food advocates quickly dubbed it “Have

 

a Cup of Coffee and Pray” because it transferred oversight from the

 

government to the plant, in shocking, industry-friendly de-regulation.

 

HACCP was supposed to replace meat inspectors’ old-fashioned “poke and

 

sniff” method of visually examining carcasses by instituting advanced

 

microbiology techniques. But it is also an “honors system” in which

 

federal inspectors simply ratify that companies arefollowing their own

 

self-created system. As in “Trust us.”

 

Last week,   a coalition of food and worker safety advocates and

 

allies gathered outside the White House to protest USDA’s imminent plan

 

to implement HACCP system-wide now that it has been used at pilot

 

locations. “Instead of trained USDA inspectors, companies will police

 

themselves,” says the site of the group that organized the protest, sumofus.org.

 

“Plants will be allowed to speed up production dramatically. Chickens

 

will spend more time soaking in contaminants (including pus and feces!),

 

and poultry plants are compensating by washing them in with chlorine.”

 

International Implications of Shutdown

United States Capitol, Washington, D.C., east ...
United States Capitol, Washington, D.C., east front elevation (Photo credit: Wikipedia)

 

 

 

 

International Implications of Shutdown

 

Did you notice how odd it was that during the shutdown and the subsequent debt ceiling game of chicken that there was precious little discussion of the international implications? I did. It worries me.

 

Thinking that the United States is invulnerable like Superman might make you confident but it can also make you dead.

 

What other nations think and do matters? How much was put at risk overseas by actions here? Did we put our allies at risk and give our enemies an advantage?

 

A few brains in Washington would be good, some working ones anyway.

 

James Pilant

 

BERLIN: Europeans agog at Americans’ inability to compromise, aghast at likely long-term impact | Politics | McClatchy DC

 

http://www.mcclatchydc.com/2013/10/18/205712/europeans-agog-at-americans-inability.html

 

No one was amused, however. The United States, after all, is not a bit player on the international stage like Greece. It is the unquestioned global leader. And while after a decade of controversial war it’s not so unusual for Europeans to express hostility toward the United States, many were shocked to see how hostile Americans seem to be to one another – and disinterested in how their internal fight might affect the rest of the world.“This is pure domestic politics,” said Xenia Dormandy, an expert on the United States and its place in the world at the London think tank Chatham House. “Nobody cares about any of the international implications. There’s a lack of desire to even think about the repercussions.”The discord will have long-term consequences, even if the United States is able to see its way through this crisis to yet another battle over spending and the debt ceiling that will come early next year, some predict.

 

via BERLIN: Europeans agog at Americans’ inability to compromise, aghast at likely long-term impact | Politics | McClatchy DC.

 

From around the web.

 

From the web site, Phoebe Rees, JN 325.

 

http://phoebereesjn325.wordpress.com/2013/10/07/7-british-misconceptions-about-the-us-government-shutdown/

 

On Tuesday, the US government shut down. If you’re a fellow Brit like

me, you might be thinking, “how can this happen – can Democrats and

Republicans not even be charged with the simplest task of keeping the

government open?” undoubtably leading to “the system has collapsed, the

apocalypse is now!” Alas no, this isn’t some sort of Anarchist utopia,

it happens reasonable frequently and can be explained a lot more simply

than you think. Here are the most common misconceptions about the US

government shutdown answered.

 

1. The government has shut down. Does this mean that the system has collapsed? 

 

No. Constitutionally, congress must pass laws to spend money. If they

can’t agree on a spending bill, they don’t have the authority to spend

money. Most of the ‘system’ is still in place, but non-essential

services such as gun licensing, zoos and national parks will close for

the duration of the shutdown. So basically, no guns and no zoos for the

foreseeable future. …

 

China Attacks Academic Freedom

English: China, Peking
English: China, Peking (Photo credit: Wikipedia)

China Attacks Academic Freedom

Shouldn’t this case cast a little doubt on so many American Universities’ desire to build branches in China? Won’t they insist on running schools in their country they way they run the current ones?

After all, they are communists who run a dictatorship.

Yes, that is not a nice thing to say, and the fact that literally thousands of American corporations are aiding and abetting this regime is regrettable but under free market fundamentalism perfectly understandable.

I mean, does it really matter if the nation is an enemy of democracy when there is money to be made?

The business ethics implications are fascinating but largely undiscussed. For all you students out there, this is primo paper territory. If you want to write something controversial, this is where to go. Think of it, business ethics and American Investment in the Chinese economy. If I were you, I would start the story by going back to China just a few years after the Great Cultural Revolution as its economy lurched from one disaster to another. Start the story there and then begin the American involvement, investment and then sharing patents and partnerships. Compare job losses in the U.S. to job gains in China. Discuss the willingness of the Chinese government to simply not bother with environmental and worker safety problems. Put in some material on a couple of the bigger coal mine disasters. Faculty love stories. Then, when you reach the end, wonder out loud if the regime could have survived with American corporate money. I bet it’s a solid A. (If you would like to see it published once it is written, send me an e-mail – we can work something out!)

James Pilant

SHANGHAI: China’s Peking University fires professor who criticized government | Asia | McClatchy DC

http://www.mcclatchydc.com/2013/10/18/205836/chinas-peking-university-fires.html

One of China’s top universities has notified an economics professor known for his outspoken criticism of the Chinese government that his colleagues have voted to expel him from the institution.The move against Xia Yeliang, who teaches at Peking University in Beijing, appears to reflect a crackdown on liberal academics that’s become more severe since President Xi Jinping came to power in March.Several well-known universities – including the London School of Economics and Yale and Cornell in the United States – have partnerships with Peking, though few have taken up Xia’s cause. Other institutions, including New York University and Duke University, have opened campuses in China recently or are about to amid worries that they’ll sacrifice academic freedom for the sometimes lucrative opportunity to partner with Chinese institutions.

via SHANGHAI: China’s Peking University fires professor who criticized government | Asia | McClatchy DC.

From around the web.

From the web site, educhina.

http://educhina.wordpress.com/2012/04/28/a-speech-under-the-national-flag/

April 9th, 2012, as usual, after raising the national flag and singing the anthem, the students in Huilong middle school stayed in square, listening to the weekly speech under the national flag by a selected outstanding student. They all knew it was a routine that every Monday, school had this assembly, so did most of the schools in other parts of China. And the speech, always presented by disciplined peers with excellent academic performance, was basically the same each week that about hard-working, obedient, respecting schools, teachers and parents etc. Thus, no one would pay attention to the speech but hoping the ceremony could end earlier. However, students, also teachers, soon realized today’s speech was different when they heard “we are not machine, even if we are, school should not treat us as tools to improve the enrollment rate of universities”. The senior two honorary student, Chenbo Jiang, was emotionally criticizing the school system and Chinese education. He continued: “what we are fighting for, under this education system, and what kind of people we will become?” He blamed the education deprived their dreams and turned them into indifferent people who only cared about the scores; he blamed parents blindly forced them to study all the time while neglected their true feeling and failed to give enough care and love; he blamed the teachers for pushing them so hard in doing endless homework in order to increase the enrollment rate of universities that few students actually loved and respected their teachers. Everyone stunned for a while and then students started to applaud. Some teachers were laughing and some were in shock. The school principal was so surprised because the draft of the speech had to be examined by the teachers every time before the students went up to the stage. This should not happen.

The news quickly spread out through internet with the titles like “high school student changes the speech under the national flag” or “high school student criticizes education system” and caused heated discussion among Chinese netizens in Sina microblog as well as in other social networking sites. Many people thought Chenbo Jiang was courageous to speak out the “truth” and they agreed that Chinese education was problematic. On April 20th, 2012, Nanfang People’s magazine, an influential weekly magazine of Southern China Press, published a commentary on this event. The report compares Chenbo Jiang to the boy in The Emperor’s New Clothes who points out the truth that no one wants to acknowledge.

Ireland Tax Haven for American Corporations

[Howth and Ireland's Eye. County Dublin, Irela...
[Howth and Ireland’s Eye. County Dublin, Ireland] (LOC) (Photo credit: The Library of Congress)

Ireland Tax Haven for American Corporations

Is it ethical to have a company in the U.S. base a subsidiary in a nation like Ireland to avoid paying taxes here? The company being discussed here is Apple. Do you suppose since they used this tax haven to pay an effective two percent tax on their profits, that perhaps they are not acting responsibly in regard to their duties? Are the roads, bridges and communications systems the company uses free or do they cost tax money? Are educated workers free or do schools have to be financed to educate them? Does the fire department, the police and the military defend Apple and all of its possessions on a charity basis?

It must enhance the profits of a company immensely to sit inside a highly developed nation with elaborate communication hubs, educational systems and complex legal protections and pay virtually nothing for any of it.

Well, if they don’t then who does? I’m sure you can make a guess, my average reader is probably paying a far higher proportion of their income in taxes than the two percent Apple wound up with.

Is that fair? Is it ethical to shirk your responsibilities to your country?

I’ve heard it said that all taxation is a form of theft. That’s an interesting theory. It conveys a certain sense of righteousness in not paying taxes because, after all, you are preventing a robbery. However, I am a great reader of history and i am unable to discover any successful civilization that did not use shared burdens to develop and maintain their nation.

James Pilant

Ireland To End ‘Stateless’ Tax Avoidance Gimmick, Leave Others Untouched

http://thinkprogress.org/economy/2013/10/16/2791501/ireland-corporate-tax-change/

The scheme Noonan wishes to stop became famous this spring when a Senate investigation found that Apple had paid nearly zero taxes on around $100 billion in sales revenue. Apple’s arrangement, which even critics say is a completely legal exploitation of a poorly designed global tax system, relied upon three subsidiaries incorporated in Ireland but not “resident” there for tax purposes. Noonan said Tuesday that his budget proposal would “ensure that Irish-registered companies cannot be ‘stateless’ in terms of their place of tax residency,” adding that “we don’t want to incur any reputational damage.”

While Noonan’s move would end this particular form of tax evasion, a more common form that uses shell companies registered in Ireland will go untouched. A company can still register in Ireland but avoid paying its 12.5 percent corporate tax rate by declaring tax residence in some other country with lower corporate rates, Bloomberg reports. While Apple-style tax statelessness is relatively rare, Irish subsidiaries registering to pay taxes in Bermuda, Luxembourg, and other tax haven countries is not. Google, Yahoo!, LinkedIn, eBay, and Microsoft all use such schemes to avoid taxes by moving global revenues from points of sale to Ireland, and then from Ireland to another tax haven. Ireland’s proposal is therefore “a very small step” and “relevant only to Apple,” former Joint Committee on Taxation chief of staff Edward Kleinbard told Reuters.

From around the web.

From the web site, Venture Beat.

http://venturebeat.com/2013/05/22/ireland-were-no-tax-haven-but-yes-apple-did-pay-2-tax/

This is a stumper.

The head of the Irish agency designed to promote foreign investment in the country strongly denied that Ireland is a tax haven. But when questioned by Ireland’s RTE News, he could not deny that Apple has paid an effective tax rate of just two percent, much as Senator Carl Levin (D-MI) said yesterday in hearings on Capitol Hill.

Which, frankly, sounds pretty tax haven-ish.

“There is global competition, and tax happens to be one of the areas [where] Ireland competes for global investment,” IDA Ireland Chief Executive Barry O’Leary told RTE this morning.

That also sounds suspiciously like a tax haven. That’s what Senator Levin believes, as well.

“You are able to shift profits to places where you, an American company, don’t pay taxes,” Levin said yesterday to Apple CEO Tim Cook. “That is not right … that a company could shift its value to a tax haven, which is what Ireland is.”

Read more at http://venturebeat.com/2013/05/22/ireland-were-no-tax-haven-but-yes-apple-did-pay-2-tax/#gXo2Y2xGqeHZji3x.99

Incredible Footage of Reusable Rocket, The Future of Space Exploration

Incredible Footage of Reusable Rocket, The Future of Space Exploration

Writing about business ethics from day to day is an excruciating experience. You are constantly bombarded by some of the worst of human behavior and lots of villains. It is similar in some sense to the cop on the beat who only sees the worst of human behavior. It pushes one toward cynicism and doubt about the human condition.

Fortunately, there are counter currents of humans at their best, humans struggling to do the right thing. Here is one of them.

Enjoy!

James Pilant

Ares I Rocket First Stage (June 2008)
Ares I Rocket First Stage (June 2008) (Photo credit: NASA’s Marshall Space Flight Center)

From around the web.

From the web site, The Rocketry Blog. (And if you want to see more footage of this incredible vehicle – this web site has them. jp)

http://rocketry.wordpress.com/2013/03/10/latest-spacex-grasshopper-flight/

“SpaceX’s Grasshopper doubled its highest leap to date to rise 24 stories or 80.1 meters (262.8 feet) today, hovering for approximately 34 seconds and landing safely using closed loop thrust vector and throttle control.  Grasshopper touched down with its most accurate precision thus far on the centermost part of the launch pad.  At touchdown, the thrust to weight ratio of the vehicle was greater than one, proving a key landing algorithm for Falcon 9.  Today’s test was completed at SpaceX’s rocket development facility in McGregor, Texas.” – SpaceX

This thing is huge so pulling this off is quite incredible and SpaceX continues to push this technology in its test. I looking forward to one day seeing the Falcon 9 return this way.

Rape is Wrong

English: Stylized handcuffs. Português: Algema...
English: Stylized handcuffs. Português: Algemas estilizadas (Photo credit: Wikipedia)

 

 

 

 

 

 

Rape is Wrong

 

 

If you go down the page you will see a article from the Huffington Post in which an attorney suggests, I suppose the best way to put it, is that in the current case of the Missouri teen, that she was to blame. This makes me very angry. Bizarrely enough, I think you shouldn’t take advantage of 14 year old girls.

 

I think that it is obvious that rape is wrong but it apparently in many people’s minds carries a lot of caveats. Apparently that caveated definition always begins with the phrase: “What did she expect…”, which I have been hearing now for a good thirty years. This is often followed, in no particular order – when she dressed like that, – when she got into the car with him, – when she drank that much, – when she flirted like that, – when she went to his apartment at two in the morning, etc. You can probably think of a few I missed.

 

Raping women is wrong. Let me throw a little radical thought your way. Rape is a crime. It is not punishment for women’s misbehavior. It is a crime for which the perpetrator should go to prison. It is not a crime of passion, it is an assertion of power by a male without character or breeding.

 

And let me add these little thoughts –

 

A gentleman does not have sex with an unconscious woman.

 

A gentleman does not get a woman drunk to avoid getting her consent.

 

A gentleman realizes that no matter how a lady is dressed, how late it is, how drunk she is, that his duty is to protect and honor, all the time, every time.

 

James Pilant

 

Joseph DiBenedetto: ‘I’m Not Saying She Deserved To Be Raped, But…’

 

http://www.huffingtonpost.com/2013/10/17/joseph-dibenedetto-rape-missouri-teen_n_4118899.html

 

“What did she expect to happen at one in the morning after sneaking out?” attorney Joseph DiBenedetto said on Shephard Smith Reports. “I’m not saying — assuming that these facts are accurate and this did happen — I’m not saying she deserved to be raped, but knowing the facts as we do here including what the prosecutor has set forth, this case is going nowhere and it\’s going nowhere quick.”

 

Shep Smith immediately jumped in and refuted his claims.

 

“What you’ve done, Joseph, is taken an alleged victim of rape and turned her into a liar and a crime committer,” he said. “That’s a far jump from a 1,000 miles away.\”

 

via Joseph DiBenedetto: ‘I’m Not Saying She Deserved To Be Raped, But…’.

From around the web.

From the web site, Rape in the Military.

http://rapecultureinthemilitary.wordpress.com/2013/05/02/rape-in-the-military/

I call this an epidemic in our military because the numbers are staggering. It is estimated that 1 in 5 women in the military are sexually assaulted. (McDonough) A March 26 report by the Institute of Medicine said sexual assault and rape have “been occurring at high rates throughout U.S. armed forces, including the Iraq and Afghanistan theaters.” (Maze) The DOD (Department of Defense) estimated that last year around 19,000 service members are sexually assaulted each year. Thousands of our brave soldiers are being assaulted by their fellow brothers and sisters. The psychological damage of being betrayed by someone you are supposed to trust with your life has to be incredibly scarring.

 

The military even has a term for those who are suffering from the effects of sexual assault; it is called MST (Military Sexual Trauma). The military has reports done every year, and they have a division SAPRO (Sexual Assault Prevention and Response Office) that handles policies and training around sexual assault crimes. So why are the numbers so high? “Only a small fraction of the incidents, 3,192 in 2011, are reported, and a mere 10 percent of those cases proceed to trial — hardly enough to create meaningful deterrence to criminal behavior and establish accountability.”(NYT Editorial)

 

I’m Beginning to Like Josh Barro

speaking at CPAC in Washington D.C. on Februar...
Ted Cruz speaking at CPAC in Washington D.C. on February 10, 2011. (Photo credit: Wikipedia)

I’m Beginning to Like Josh Barro

This guy can take this kind of nonsense and instead of being hurt or offended, he turns it into informative and, in a way, defiant essay. I’m impressed.

And he has a good point, this kind of passion (hatred, rage?) is frightening. As a fellow writer, I find this kind of thing daunting but as a politician it must be far more threatening because not only do these people wield influence power in the party, encountering them personally must be an exciting and memorable experience.

James Pilant

One Look At These Emails, And You’ll See Why Republicans Let Ted Cruz Lead Them Off A Cliff

http://www.businessinsider.com/heres-why-congressional-republicans-let-ted-cruz-lead-them-off-a-cliff-2013-10

Read more: http://www.businessinsider.com/heres-why-congressional-republicans-let-ted-cruz-lead-them-off-a-cliff-2013-10#ixzz2i1i1VxFE

The people whose letters I’m printing below are literally the people Republicans depend on to re-elect them to Congress. Keeping these people happy is their job — which is why the Republican Party has become so inept and crazy.

Jim Kennedy says I’m a “low information voter” in league with “the black racists”:

Senator Cruz is right on. I am one of those “crazy people” the liberal left does not like, being former Marine, a supporter of Tea Party, college graduate, member of NRA, member of Sons of Confederate Veterans. It is you low information voters and the black racists that hate us conservatives. Watch out in 2014!

William Neisser found me on Facebook and sent this frank message:

do you really believe the crap coming out of your mouth so 2 million people who think this Obama care isn’t good are wrong and living on another planet wow. life for you must be hard when did it become American to make people eat there vegetables. everyone has something to say but please stop talking your breath stinks like the crap you write come back to reality like the 2 million that are wrong an don’t like Obama’s health care academy for idiots thank you again yours truly screwed middle class living on another planet oh an have a great day

Read more: http://www.businessinsider.com/heres-why-congressional-republicans-let-ted-cruz-lead-them-off-a-cliff-2013-10#ixzz2i1hj93is

From around the web.

From the web site, The Left-handed Nib.

http://lefthandednib.wordpress.com/2013/10/12/the-gops-messiah-complex/

The GOP’s Messiah Complex

To paraphrase Dana Milbank, the Republican Party is Cruzifying itself.

Lots of good reads on Cruz in the last few days:

  • Josh Barro writes at Business Insider that “Ted Cruz is living on another planet” — and the Tea Party base is more than willing to hang out with him there.
  • This AP article is one of many I’ve seen lately that talk about how fed up establishment Republlicans are with Cruz and his Tea Party fellow crazies. But look at the establishment Republicans they’re quoting by name! …

Buying American Un-American?

A protest in Utah against Wal-Mart
A protest in Utah against Wal-Mart (Photo credit: Wikipedia)

 

Buying American Un-American?

 

No, it’s not. Buying American is patriotic, puts jobs here and honors the strong work ethic that Americans have always practiced. But Jonathan Hoenig says that buying American is Un-American. Read below for the exact quote. This is what passes for intelligent analysis on a news show?

 

Up is down. Black is white. What is this? If you say it long enough and often enough, does stupidity and simple nonsense become persuasive?

 

Oh, I get the message. What Hoenig is saying is that free market fundamentalism is the actual real American belief system and all this patriotic stuff is on a lower intellectual and thought level. I get it.

 

Buy American is a business ethics idea, the idea that by rewarding your fellow countrymen for their efforts you build a better nation. Free market fundamentalism is a quasi-religious movement that says we will all be happy and prosperous once we stop trying to do the right thing and chase the money.

Well, I’m not ready to give up doing the right thing. So, I’ll buy American.

 

James Pilant

 

Why does Fox “news” hate Americans? During their Saturday “business block,” Cashin’ In guest host Eric Bolling and most of his panel did their best to do an infomercial for Walmart — and to trash the protesters who have been out there demanding higher wages for their workers. And if that wasn’t bad enough, their regular, libertarian wingnut Jonathan Hoenig called the very notion of companies like Walmart buying made in America products “un-American.”

 

I’m not going to transcribe all of this mess, but here’s some of the worst of it, where they were blaming the protesters for Walmart deciding to expand into China, and attacking labor unions, which is their favorite sport along with attacking poor people on Faux “news” on Saturday mornings. …

 

(The relevant remarks below)

 

HOENIG: I’m actually against that Eric. I think this whole notion of buy American is actually un-American. American companies should buy the lowest quality product… excuse me, the lowest price product at the highest possible quality. If they happen to be made overseas, that’s even better. It allows Americans to save money and those resources to be more deployed, and more profitable in productive ways.

From around the web.

From the web site, Buy American Challenge.

http://buyamericanchallenge.wordpress.com/2013/05/12/new-documentary-film-asks-were-willing-to-die-for-our-country-but-are-we-willing-to-buy-for-it/

Josh Miller’s new documentary is an inspirational reminder that the words “Made in USA” still matter. While Americans from Main Street to the halls of Congress struggle to cope with our sputtering economy, Miller reminds us that the answer to reclaiming a prosperous future may lie in the long-forgotten rallying cry to “Buy American.”

As Miller demonstrates in his month-long trek across the United States, a sure-fire way to create American jobs is to stimulate demand for American-made products. While conventional wisdom once told us the jobs that left our shores would never return, as is so often the case, that conventional wisdom is now being turned on its head.

 

The film shows that in many industries, companies that stuck to their American-made roots are now thriving, while firms that made the decision to off-shore are realizing the advantages of sourcing from low-wage countries like China are being eaten up by rapidly increasing wages in those countries. Once you consider the other disadvantages of off-shoring, such as increased shipping costs, higher inventory costs, and extended time to get products to market, in many industries the benefits of overseas production are now being outweighed by the costs. As a consequence, America may be primed for a serious jobs recovery.

 

In the film, Michael Araten, CEO of the toy company K’Nex, whom Miller interviews, makes the most compelling case that the U.S. is poised for job creation in the manufacturing sector and that the Buy American Movement can help facilitate it. “What I see happening is that consumers care more and more where stuff is made; businesses react to consumers,” explains Araten. “As demand picks up for [American-made products], then [businesses] will find more ways to [fill that demand].”

 

 

Josh Barro Clobbers Niall Ferguson

 

Josh Barro Clobbers Niall Ferguson

 

In spite of our dramatically different political views, Josh Barro is beginning to grow on me. Certainly, this is just delightful, some good rhetorical punches are being thrown here!

 

James Pilant

 

Panelist Economic Historian Niall Ferguson at ...
Panelist Economic Historian Niall Ferguson at “Special World Debate” (Photo credit: Wikipedia)

 

Niall Ferguson uses Twitter science to prove he’s better than everyone.

 

http://www.slate.com/blogs/business_insider/2013/10/15/niall_ferguson_uses_twitter_science_to_prove_he_s_better_than_everyone.html

 

The reason Ferguson wants to talk about civility is that he can\’t talk about not being full of crap. Ferguson trades on his academic credentials to write popular articles that contain misleading and false claims. His writing causes readers to come away with a worse understanding of the economy than they entered with. He is changing the world for the worse.

 

My contention is not that we haven\’t been uncivil to Ferguson. We definitely have. My contention is that he deserves it.

 

via Niall Ferguson uses Twitter science to prove he’s better than everyone..

From around the web.

From the web site, The Inverse Square (This is a fun web site – please go visit. jp).

https://inversesquare.wordpress.com/2013/10/10/very-serious-person-niall-ferguson-haz-a-sad/

Too much to do today to go all John Foster Dulles on Harvard’s Folly, but I can’t leave this without noting that if Niall’s honestly not scared of Krugman (he is), he should be.

 

Cases in point here and here and here and here.  This isn’t a fair fight.  Ferguson has the debate chops and the accent, but nothing else. Krugman has both technical skill and the willingness to engage actual data to gut the Harvard Bully Boy on the actual merits of the argument.  That Ferguson plays better on TV is his reason for being, but not a recommendation.  (BTW — for a devastating synoptic view of Ferguson’s style and (lack of) substance — and his pure nastiness in the service of the 1%, check out this overview.)