Alexander Habighorst

Tocqueville's prophecy?

Jul 26, 2010 at 7:40 PM

By Alexander Habighorst

In his much noted, though often unread, book Democracy in America Alexis de Tocqueville seems to point out many of the dangers of the modern welfare state:

It would seem that if despotism were to be established among the democratic nations of our days, it might assume a different character; it would be more extensive and more mild; it would degrade men without tormenting them. I do not question that, in an age of instruction and equality like our own, sovereigns might more easily succeed in collecting all political power into their own hands and might interfere more habitually and decidedly with the circle of private interests than any sovereign of antiquity could ever do. But this same principle of equality which facilitates despotism tempers its rigor. We have seen how the customs of society become more humane and gentle in proportion as men become more equal and alike. When no member of the community has much power or much wealth, tyranny is, as it were, without opportunities and a field of action. As all fortunes are scanty, the passions of men are naturally circumscribed, their imagination limited, their pleasures simple. This universal moderation moderates the sovereign himself and checks within certain limits the inordinate stretch of his desires.

To get the full effect, the rest of the chapter and the entire work is available here.

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The Excesses of the Security State

Jul 21, 2010 at 2:56 PM

By Alexander Habighorst

In today's Washington Post, there is an article about the largess of the modern national security state. It is truly mind boggling to read how large and inefficient the intelligence community has become since 9/11. To give a sample of what is in store, here is a description of the numbers involved:

The top-secret world the government created in response to the terrorist attacks of Sept. 11, 2001, has become so large, so unwieldy and so secretive that no one knows how much money it costs, how many people it employs, how many programs exist within it or exactly how many agencies do the same work.
[We] discovered what amounts to an alternative geography of the United States, a Top Secret America hidden from public view and lacking in thorough oversight. After nine years of unprecedented spending and growth, the result is that the system put in place to keep the United States safe is so massive that its effectiveness is impossible to determine.
Some 1,271 government organizations and 1,931 private companies work on programs related to counterterrorism, homeland security and intelligence in about 10,000 locations across the United States.
An estimated 854,000 people, nearly 1.5 times as many people as live in Washington, D.C., hold top-secret security clearances.

Over at the Independent Institute's blog, Robert Higgs has an excellent analysis of this article.

New Hayek Interview

Jul 14, 2010 at 11:14 PM

By Alexander Habighorst

As Jeff Tucker over at the Mises Institute mentions, here is a new Hayek interview which includes discussion of Mises and Keynes and -- like all of Hayek's interviews -- is thoroughly interesting throughout.

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Niall Ferguson Warns of Collapse of the 'American Empire'

Jul 10, 2010 at 12:27 PM

By Alexander Habighorst

Harvard Professor and Krugman critic Niall Ferguson at a recent conference has warned of the coming collapse of the 'American Empire':

“I think this is a problem that is going to go live really soon,” Ferguson said. “In that sense, I mean within the next two years. Because the whole thing, fiscally and other ways, is very near the edge of chaos. And we’ve seen already in Greece what happens when the bond market loses faith in your fiscal policy.

In an interesting twist reminiscent of British troops playing "The world turned upside down" after the Battle of Yorktown Ferguson notes, “I know you’re not comfortable with the word ‘empire,’ especially just after the Fourth of July, but you are the Redcoats now.”

Student Debt, Jim Rogers, and 'The Freeman'

Jul 9, 2010 at 7:14 PM

By Alexander Habighorst

Recently, I cam across a video of legendary investor Jim Rogers. In it he talks about bailouts, commodities and among other things student debt.

The whole thing is really worth considering as a student, especially an American one. Recently, in The Freeman, George Leef tackles the issue here.

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US Forces Enter Costa Rica

Jul 7, 2010 at 5:14 PM

By Alexander Habighorst

More than 46 ships and 7000 US marines are being sent to Costa Rica. According to La Nacion, an Argentine Newspaper, the parameters of the US policy in the country are as follows:

The US personnel in Costa Rica will be able to enjoy freedom of movement and the right to carry out the activities that they consider necessary to complete their mission.

More details here and here. It seems quite clear that the Roosevelt Corollary is still alive and well.

The Bloggers Strike Back

Jul 1, 2010 at 5:06 PM

By Alexander Habighorst

Many of you remember the diatribe passing as an academic paper written by Federal Reserve economist Kartick Athreya.

However, it seems some bloggers are striking back (including here at YAL) as well as the Daily Telegraph's Ambrose Evans-Pritchard who had this to say about the Fed:

Central banks were the ultimate authors of the credit crisis since it is they who set the price of credit too low, throwing the whole incentive structure of the capitalist system out of kilter, and more or less forcing banks to chase yield and engage in destructive behaviour.

The full article is here.

Government-Run VA Hospital Possibly Infects 1,800 Veterans with Deadly Diseases

Jul 1, 2010 at 7:49 AM

By Alexander Habighorst

In a recent article from CNN, it appears a VA hospital in Missouri may have exposed 1,800 veterans to diseases such as HIV or hepatitis:

John Cochran VA Medical Center in St. Louis has recently mailed letters to 1,812 veterans telling them they could contract hepatitis B, hepatitis C and human immunodeficiency virus (HIV) after visiting the medical center for dental work, said Rep. Russ Carnahan.

Read the full report here. This certainly doesn't make universal health care look any more attractive...

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Number of American Citizens Targeted for Assassination Uncertain

Jun 29, 2010 at 10:09 PM

By Alexander Habighorst

Many in the liberty movement are well aware of the Obama Administration's ability to assassination American citizens abroad if they are considered terrorists. However in a recent interview in the Washington Times, Obama advisor John Brennan has revealed there might be as many dozens of US citizens targeted on a assassination hit list:

"There are, in my mind, dozens of U.S. persons who are in different parts of the world, and they are very concerning to us," said John O. Brennan, deputy White House national security adviser for homeland security and counterterrorism.

As usual, Glenn Greenwald has an excellent writeup on this.

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Thoughts on the BP Oil Spill and the Tragedy of the Mixed Economy

Jun 29, 2010 at 2:56 PM

By Alexander Habighorst

The minute the recent oil spill in the Gulf started, I could almost hear the calls from those who would like nothing better then to condemn this as a market failure and bring the heavy hand of government in to secure the blessings of order in a formerly anarchic soulless profit driven enterprise. Indeed, the proponents of regulation will tell one that for the past few years, regulation has been lax and the oil corporations have been allowed to run free and spoil natures virginal beauty and bounty.

Many in the mainstream media and some members of the public where shocked that the supposed regulators of the big oil companies where in bed with the oil companies themselves. For instance, there are many allegations that members of the Minerals Management Service accepted gifts, used cocaine on the job (doesn't that make the War on Drugs seem a little hypocritical?) and in general did not act in a "regulatory" fashion. To quote from a recent USA Today article about the regulators and their role:

"The failure of the government to adopt measures demonstrates the chokehold that the companies have on federal regulators, who seldom impose rules in the face of intense opposition, the safety experts said.