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Sep 30

Radical Agenda EP201 – Mashup

I can hardly believe we’re already at the end of September. It seems like just yesterday I was complaining about police on Free Talk Live, but here we are in the current year fully aware that Googles are prone to criminality and in need of physical removal. Somebody probably ought to inform the folks in California about this, because fresh on the heels of Charlotte, NC, another vibrant, cultured youth (Alfred Olango, 38) got himself shot in San Diego when he pointed a vape pen at police like a gun. Protests have turned violent, according to news reports, but perhaps it would be more accurate to say that rioters are trying to paint their crime spree as a demonstration.

Radical Agenda EP201 - Mashup

Radical Agenda EP201 – Mashup

But talking about black crime can get old of course. If you’ve seen one Google riot on Skype run news channels, you’ve seen them all. We really should discuss some economic issues which were brought up on a previous episode.

Julius commented on YouTube;

Markets don’t efficiently allocate capital and without access to capital, there is no capitalism, at least for you. Capital doesn’t flow to the bottom where it is most needed because those who control capital seek to mitigate risk. The riskiest investments will have the highest yields, but on a long enough timeline, you may as well be playing a slot machine. So over the long term, where does capital go? It stays where it is safer, where short term yields are lower but there are already economies of scale. In the long term, this is simply what is most profitable. And that’s why Piketty was right when he argued that the rate of return on capital is greater than the rate of growth. Capital accumulates at the top and it stays there.

 

 

It’s really that simple. That’s why anarcho capitalism will just produce wealth concentrated in few hands.

 

I want to address this in more depth on air, but here is a brief preview. Wealth concentrated in a few hands is efficient allocation of capital. Capital is not needed “at the bottom” because the people at the bottom are there due to their inability to manage and produce capital. The poor are trash and should live in squalor until they can prove themselves worthy of more. Plebs deserve contempt, not sympathy, and certainly not capital.

I’m about 3,000 words into an essay I hope to release over the weekend about libertarians and the alt-right, and these types of issues are where you find the divides far more than in anything pertaining to race or culture. It’s funny too because you usually find this sort of rugged willingness on the alt-right to tolerate inequality in a more general sense, but many ethnonationalists eventually feel the need to subsidize the offspring of some slag who would have been a mudshark had she been given access to the ghetto.

Foldr commented;

Chris, great show, just one quibble. I think you should streghten your defense of free trade. The case for free trade is unilateral. That means that even if the other countries enact tariffs, it makes sense to eliminate tariffs in America. Those concepts like “smart trade”, “balanced trade” or “leveling the playing field” are all AGAINST free trade. I recommend that you talk to an Austrian economist, like Bob Murphy, about this, maybe invite him to the program to discuss the topic of trade.

 

Sadly, I invited Bob to come on the show some time ago for just this sort of purpose and he declined for fear of being associated with the direction the program has taken. It’s really too bad because libertarians rarely get the chance to discuss economics with National Socialists. You would think more of them would consider this to be a great opportunity to do some good, but I suppose making fun of Paul Krugman pays better.

That said, I think the notion here peddled is open to some degree of interpretation. There is a perverse idea in libertarian circles that simplistic opposition to everything the government does is awesome. I disagree.

The most obvious example would be their monopoly on the criminal justice system. I don’t particularly agree with that monopoly. I think the market would provide better services at a better price with fewer unintended consequences. But, so long as the State monopolizes this service, then we need them to prosecute murderers and rapists. Setting pedophiles and armed robbers loose on the street would hardly bring us any closer to a free society.

So while I prefer unimpeded trade, if there is a circumstance where a foreign government lays tariffs on goods from the United States, this trade is no longer unimpeded. It is by simple definition not “free trade”. Whether or not the United States should impose a tariff of their own, whether unilaterally disavowing the power to lay tariffs is the best strategy, or if the federal government should launch a full on trade war, those are all subjective preferences of policy.

In world news today, it’s really long overdue that I discuss Philippines President Rodrigo Duterte. Luckily, he keeps on giving us little gems to talk about, like comparing himself to Adolf Hitler, and cutting in half the number of Skypes supposedly killed in that little misunderstanding there in the 30s.

There’s a lot more to get to, plus your calls at 747-234-2254 or RadicalAgenda on Skype.

Join us, this and every Friday, as well as Mondays and Wednesdays from 5-7pm Eastern for another exciting episode of the Radical Agenda. It’s a show about common sense extremism where we talk about radical, crazy, off the wall things like economics.

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