By Jonathan Schlefer (Harvard Review) Adam Smith suggested the invisible hand in an otherwise obscure passage in his Inquiry Into the Nature and Causes of the Wealth of Nations in 1776. He mentioned it only once in the book, while he repeatedly noted situations where “natural liberty” does not work. Let banks charge much more than 5% interest, and they will lend to “prodigals and projectors,” precipitating bubbles and crashes. Let “people of the same trade” meet, and their conversation turns to “some contrivance to raise prices.” Let market competition continue to drive the division of labor, and it produces workers as “stupid and ignorant as it is possible for a human creature to become.”

via There Is No Invisible Hand – Jonathan Schlefer – Harvard Business Review.

 April 15, 2012  Posted by at 8:54 am No Responses »
 

By  Melissa Boteach (ThinkProgress) Ann Romney has tweeted, “All moms are entitled to choose their path.” But unfortunately for low-wage working moms and nearly half of private sector workers, the” choice” is either “go to work and send my sick kid to school” or “stay at home with my sick child and risk losing my job or needed income.” That’s a choice no parent should have to make. Does Mitt Romney agree?

Women are now half of all workers on U.S. payrolls and breadwinners or co-breadwinners in nearly two-thirds of all families. Their incomes are sorely needed to provide basic economic security for their families.

Yet the U.S. also faces high rates of work-family conflict with few laws to support working families. One of the biggest culprits is workers’ lack of paid sick days to care for themselves, an elderly parent, or a sick kid – an issue that has been largely absent in the election debates.

Forty percent of private sector workers and 80 percent of low-wage workers do not have a single, paid sick day to recover from a short-term illness or to provide care for their loved ones.

via Does Mitt Romney Support Paid Sick Days? | ThinkProgress.

 April 14, 2012  Posted by at 6:26 pm No Responses »
 

By Amy Teibel (AP) Despite saber-rattling from Jerusalem, Israeli officials now agree with the U.S. assessment that Tehran has not yet decided on the actual construction of a nuclear bomb, according to senior Israeli government and defense figures.

Several senior Israeli officials who spoke in recent days to The Associated Press said Israel has come around to the U.S. view that no final decision to build a bomb has been made by Iran. The officials, who are privy to intelligence and to the discussion about the Iranian program, said this is the prevailing view in the intelligence community, but there are also questions about whether Tehran might be hiding specific bomb making operations

via Northwest Herald | Israelis agree Iran hasn’t decided on atom bomb.

 March 19, 2012  Posted by at 1:40 pm No Responses »
 

By Sharon Kyle (LA Progressive)  I have this gnawing sense that with the exception of official national holidays, the only time our nation honors people with a special day or month is when they are members of an exploited group. I’m sure I’ll get some feedback on this and I welcome it. But Secretaries’ Day comes to mind.

via Black History Month, Who Needs It? | LA Progressive.

 March 2, 2012  Posted by at 8:49 am No Responses »
 

By Ian Millhiser (ThinkProgress) During a recent Senate Judiciary Committee hearing, conservative Justice Antonin Scalia said that U.S. Constitution is vastly inferior to that of one of our long defunct enemies:

The bill of rights of the former evil empire, the Union of Soviet Socialist Republics, was much better than ours. I mean it literally. It was much better. We guarantee freedom of speech and of the press, big deal! The guaranteed freedom of speech, of the press of street demonstrations and anyone who is caught trying to suppress criticism of the government will be called to account.

via Scalia: The Soviet Union’s Constitution Was ‘Much Better Than Ours’ | ThinkProgress.

 February 12, 2012  Posted by at 10:33 am No Responses »
 

By Paul Krassner (Moronia) Politics: The electoral college will be replaced by a system where voters will choose the polling firm they trust the most. Rick Perry will copyright the word “Oops.”

Show Business: Angelina Jolie will legally adopt Brad Pitt. The Tea Party will become a popular sitcom. Capital-punishment executions will become a top-rated reality-TV series.  The Taliban and al-Quaeda will be the final competitors on The Biggest Terrorists. Hulu and Netflix will merge as Netflu.

Fashion Trends: Arizona, Mississippi and Tennessee will refuse to recognize Leap Year. Prescription drugs will become children’s names, such as Ambien and Lipitor. Combination vibrators and insomnia cures will be invented, trademarked as Dildoze.

The Economy: The Supreme Court will download all corporations into embryos. Several million jobs will be created as Unemployment Insurance clerks.

International Relations: North Korea’s new Beloved Leader will allow almost 70 McDonald’s restaurants to open; he won’t allow them to sell any food. Saudi-Arabia will outlaw laughter. Iraq will become our 51st state. Products made in China will be increasingly pirated by American entrepreneurs. The most Christmas popular gift will be cans of pepper-spray in a variety of flavors.

Read the full story on Huffington Post.

 January 29, 2012  Posted by at 8:24 am No Responses »
 

By Paul Krassner (Huffington Post) Jim Jones, founder of the 8,000-member People’s Temple in San Francisco, once asked Margo St. James, founder of the prostitutes’ rights group, COYOTE (Call Off Your Old Tired Ethics), how he could obtain political power.

She answered, sardonically, “Arrange for some of your women to have sex with the bigwigs.”

It was well known around City Hall that Moscone had a predilection for black women. Police almost arrested him once with a black prostitute in a car at a supermarket parking lot.

Soon after the Dan White trial, Lee Cole, an ex-Scientologist I had met in Chicago while researching the Charles Manson case, took me to see Lowell Streiker, author of The Cults Are Coming! and a deprogrammer who had counseled one-third of the Jonestown survivors. In the course of our conversation, I mentioned my theory that Jim Jones had served as a pimp at City Hall and maintained power by implied blackmail.

Dr. Streiker told me of his friend — a member of Jones’ planning commission — who had told him about the technique that People’s Temple had used on Mayor Moscone. They sent a young black female member to service him, as a gift, then called the next week about a serious problem — she had lied, said she was eighteen, when in fact she was underage, but don’t worry, we have it under control — just the way J. Edgar Hoover used to manipulate top politicians with his juicy FBI files.

So Jim Jones had taken Margo St. James’ sardonic advice after all, on how to achieve political power: “Arrange for some of your women to have sex with the bigwigs.” And he had taken it all the way to a mass suicide-murder — which occurred simultaneously with a mass demonstration by the women’s movement in San Francisco, called “Take Back the Night!”

Paul Krassner’s dialogue with Andrew Breitbart appears in the December issue of Playboy.

via Paul Krassner: Sex, Corruption and the Kool-Aid Massacre.

 November 25, 2011  Posted by at 9:21 am No Responses »
 

(TheFW) This Thanksgiving, millions of Americans will sit down at the table and gawk over all the goodies they are planning to cram in their gullet. The holiday might seem as familiar as singing “Take Me Out to the Ball Game” during the “Seventh Inning Stretch” or packing a finger in ice that was blown off by a firework on the Fourth of July. However, like all traditions based on history and passed down through the ages, its genesis and story has been morphed and changed to fit the times.

In fact, just about every major, hallowed tradition and belief behind “Turkey Day” has either changed completely or developed new traditions and facets in the wake of modern life. Don’t worry, none of them are gross or disgusting enough to put you off roasted turkey. We’re looking forward to stuffing our face with tasty starches and protein too. To get you ready for the big day (and provide some conversation fodder to break up the awkward silences between courses) here are a few things you might not know about Thanksgiving.

via 10 Things You Probably Didn’t Know About Thanksgiving.

 November 24, 2011  Posted by at 8:10 am No Responses »
 

by Jed Lewison (Daily Kos) Two years ago, Rick Perry was talking about Texas Independence. Now he wants a bailout.

 

Mr. Secession himself wants more Federal aid, and he’s got no sense of shame in demanding it:

Texas Governor Rick Perry criticized the Obama administration on Thursday for not responding to a request for a disaster aid for the parched state, where wildfires have scorched nearly 2 million acres.

“You have to ask, ‘Why are you taking care of Alabama and other states?’ I know our letter didn’t get lost in the mail,” Perry, a Republican and frequent critic of the federal government, said after addressing a Texas emergency management conference.

So hundreds die in storms throughout the South and Rick Perry’s response is to question why those states are getting federal aid instead of Texas? Funny how he doesn’t mention that Texas has already gotten at least $39 million in firefighting aid from FEMA over the past two fire seasons and has already received 22 grants in this fire season alone.

It’s a sign of the times that tea party’s favorite governor, the guy who said Texas ought to consider seceding from the United States, is now begging the Federal government for dollars.

It used to be that conservatives said Texas was the miracle that proved the conservative vision of government worked best, where low taxes actually increased revenue and led to balanced budgets, that the only problem they had with government was that there was too much of it. But then reality set in, and now Texas doesn’t have enough money to pay its bills. And its governor has gone from talking up secession to pleading for a bailout.

Well, perhaps if Republicans hadn’t been so successful in stigmatizing the notion of Federal aid to states, Rick Perry would be getting the money he says he needs.

via Daily Kos: Rick Perry to President Obama: Screw Alabama, what about Texas?.

 April 29, 2011  Posted by at 3:32 pm No Responses »
 

By Zaid Jilani (ThinkProgress) In the middle of his presidency, then-president Ronald Reagan learned that a number of big corporations, including his former employer, General Electric, were completely escaping paying federal corporate income taxes. “I didn’t realize things had gotten that far out of line,” Reagan told his Treasury secretary, Donald T. Regan, according to his 1988 memoir.

So Reagan undertook a comprehensive tax reform effort that actually raised the corporate taxes and closed numerous loopholes that allowed big firms to dodge their tax responsibilities. As part of these reforms, Reagan passed the 1986 Tax Reform Act. This law “raised corporate taxes by $120 billion over five years and closed corporate tax loopholes worth about $300 billion over that same period.”

During the signing ceremony for the speech, Reagan explained that his goal in pursuing these reforms was to make sure “that everybody and every corporation pay their fair share”:

REAGAN: We’re going to make it economical to raise children again. Flatter rates will mean more reward for that extra effort, and vanishing loopholes and a minimum tax will mean that everybody and every corporation pay their fair share.

via ThinkProgress » FLASHBACK: Ronald Reagan Raised Corporate Taxes To Force Tax Dodgers To ‘Pay Their Fair Share’.

 April 18, 2011  Posted by at 12:56 pm No Responses »