Archive - Jan 18, 2009

Now agreed by any sensible economist to result in poor quality goods at excessive prices. While it is increasingly difficult to find illustrative examples of this in manufacturing these days, they are bountiful amongst public school teachers.

Where a monarchy is overthrown to become a republic, which then expands its electorate to become a democracy, until the majority learn that they can soak the productive minority, leading to total economic collapse, from which a tyranny of the strong leader emerges, who then hands it onto his firstborn son as a monarchy.

A system of generosity where poor people in rich countries are taxed to subsidise rich people in poor countries.

The objective of many libertarians and conservatives, as one might wish for a only small cancer tumour.