Rather than complaining about ‘unfairly’ low corporate taxes paid by Apple and others, we would be better off advocating low, and eventually no, corporate taxes, more wealth creation, strong protection of individual rights by governments–and capitalism.
Austrian Economics is the most powerful explanation of why governments, no matter how well-intentioned, lack the knowledge, wisdom and ability to direct the lives of multitudes of people better than those people can do for themselves.
Let us not forget that over the last hundred years virtually every form of collectivism has been tried – socialism, communism, fascism, Nazism, interventionism, welfare statism – and each has failed. There is only one “ism” left to fill this vacuum in the face of collectivism’s failures.
As appeasement and pursuit of ‘social license’ is futile, other oil and pipeline executives should follow Girling’s example and defend their companies on moral grounds for the great value they provide. Governments, for their part, should cease their welfare-destroying climate change policies and focus on protecting individual rights instead.
The Soviet nightmare of “socialism-in-practice” was over.
The multiplier’s significance to monetary policy is, or used to be, straightforward: it indicated the quantity of additional bank deposits that monetary authorities could expect to see banks produce in response to any increment of new bank reserves supplied them by means of either open-market operations or direct central bank loans.
There is, after all, at least one impulse among humans that’s more deep-seated than their “propensity to truck, barter, and exchange.” I mean, of course, their propensity to let themselves be thoroughly bamboozled.
