Showing posts with label money. Show all posts
Showing posts with label money. Show all posts

Monday, March 2, 2020

2 PARAGRAPHS 4 LIBERTY: #252 "TIMELESS TRUTHS"

Issues and ideas come and go, but many “Timeless Truths” always remain.  What are some of these?  Here is a short Libertarian list:

·         The Law of Unintended Consequences: Life is complicated, and almost every time a law or regulation is passed it results in some or even many negative consequences that were not intended.  An example?  The minimum wage laws directly put many people they were intended to help out of work.  Why?  Because the reality is that some people are not (yet) worth $15 per hour.
·         The Law of Diminishing Returns: If a little is good, a lot is better?  Well, most of the time it is not.  Ask any managers or owners of companies.  Sometimes there are slight imperfections or flaws in products that could be addressed and fixed.  But after a while it is simply not cost effective to spend an extra $100,000 to fix a problem that ultimately will only cost a customer or the company combined only a much smaller total amount in delays or problems.  
·         The answer to most questions is: It Depends!  Once again, life is complicated.  So, for example, in answering the question “Should cheating at cards be a crime?” The answer is “It depends.”  Why?  If a person is playing for money and cheats, that would be a fraud and could, depending upon the circumstances, appropriately result in criminal prosecutions.  But if people were playing solitaire at home, they might be cheating themselves but, otherwise, they should be left alone.  So unless one is talking about a situation involving core values, (Should we sponsor another Holocaust?  The answer is not “It depends!) the realistic answer is as stated above.
·         The Law of Supply and Demand: The First Rule of Economics is that there are never enough goods and services to meet the demand, and the First Rule of Politics is to ignore the First Rule of Economics.  Thus Adam Smith’s “Invisible Hand” of economics is always a part of every commercial transaction, and always will be.  This means that people acting in their own economic self-interest – both as producers and buyers – will always be a part of the equation.
·         Murphy’s Law: “If anything can go wrong, it will.”  O’Rourke’s Corollary to Murphy’s Law: “Murphy was an Optimist.” 
·         Incentives Matter: If people are able personally to profit in some meaningful way from their work and other actions, they are much more likely to pursue them.  Of course, this rule applies equally to negative sanctions like punishments.
·         Dr. Milton Friedman: “We should judge our programs by their results, not their good intentions.”  Following that advice would bring a positive revolution to governmental programs.
·         Dr. Milton Friedman again: “There Ain’t No Such Thing as a Free Lunch.”  When I buy my contact lenses solution the box includes a plastic lens holder “at no extra charge.”  But, since this “gift” holds about three times as much solution as the one I normally use, and probably costs the manufacturer a maximum of two cents, if only one person in ten uses it, the result will be the purchase of more solution and, thus more profit for the manufacturer sponsoring the “gift.”  So, yet again, TANSTAAFL applies.

As my US History Professor Dr. Keith Berwick at UCLA once told us in his lecture, “There is a definite limitation to the profitable elaboration of the obvious.”  So, with that, I will stop.

Lament of the Week: “Dear Algebra, Please don’t continue to insist that I find your X because she’s not coming back.  And don’t ask Y.”

Judge Jim Gray (Ret.)
2012 Libertarian candidate for Vice President, along with
Governor Gary Johnson as the candidate for President



Please listen to our weekly radio show entitled “All Rise! The Libertarian Way with Judge Jim Gray” as we discuss timely issues, and show how they will be addressed more beneficially by employing Libertarian values and approaches.  You can hear it every Friday morning at 7 Pacific/10 Eastern by going to www.VoiceAmerica.com, clicking on the Variety Channel and then upon the word “live.”  You can also hear past shows on demand as well.  And, by the way, these 2 Paragraph columns are now on my website at www.JudgeJImGray.com, Facebook and LinkedIn at judgejimgray, Twitter at judgejamesgray, and wordpress at judgejimgray.wordpress.com  Please visit these sites for past editions, and do your part to spread the word about the importance of Liberty.  In addition, my new book entitled “2 Paragraphs 4 Liberty: Solutions that are Practical, Effective, Responsible, Libertarian, is now available at Amazon.com.   Please read and discuss it with friends, and send in a review.

Monday, January 27, 2020

2 PARAGRAPHS 4 LIBERTY: #247 "GROUPS LIKE TECHNOSERVE DO IT BETTER!"

       Are you aware of the charitable group called TechnoServe?  It (correctly) bills itself as providing “Business Solutions to Poverty” in 29 mostly poverty-stricken countries around the world.  For example, in Uganda it is using data captured by drones and satellites to help farmers determine where to allocate their limited resources to maximize their crops’ yields; in Mozambique it is using smart phones to facilitate more effective business decisions for cashew growers, buyers and manufacturers; and in Ethiopia it is making available solar-powered water pumps for irrigation systems to help family farmers cope with increasingly drier weather.  Furthermore TechnoServe also provides mobile banking services for direct payments to be made by the farmers.  And, importantly enough, it also provides all of its services equally to women and men!
       So this is yet another example of how private individuals, companies and foundations simply do a better job in philanthropic work than do (any) governments. Governments are, by definition, bureaucracies that must cater to political demands.  But the private sector can function directly to address the needs of those in poverty.  In addition, how much money that our government donates to a poverty-stricken countries actually gets to the people it is meant to help, as opposed to resulting in the local government officials driving around in expensive cars and opening up Swiss bank accounts?  This is not a total indictment of governments – they certainly fulfill some important functions.  But when it comes to things like aid to the poor and emergency relief, I suggest that governments much more often should contract with private foundations to address the problems.  (In that regard, maybe a good place to start would be for the US Government to abolish FEMA and simply contract with groups like the Red Cross for emergency relief?  Something to think about.)
Seen on one side of a sign in front of a bar: “I have mixed drinks about feelings,” and on the other: “Great Minds Drink Alike.”
Judge Jim Gray (Ret.)
2012 Libertarian candidate for Vice President, along with
Governor Gary Johnson as the candidate for President



Please listen to our weekly radio show entitled “All Rise! The Libertarian Way with Judge Jim Gray” as we discuss timely issues, and show how they will be addressed more beneficially by employing Libertarian values and approaches.  You can hear it every Friday morning at 7 Pacific/10 Eastern by going to www.VoiceAmerica.com, clicking on the Variety Channel and then upon the word “live.”  You can also hear past shows on demand as well.  And, by the way, these 2 Paragraph columns are now on my website at www.JudgeJImGray.com, Facebook and LinkedIn at judgejimgray, Twitter at judgejamesgray, and wordpress at judgejimgray.wordpress.com  Please visit these sites for past editions, and do your part to spread the word about the importance of Liberty.  In addition, my new book entitled “2 Paragraphs 4 Liberty: Solutions that are Practical, Effective, Responsible, Libertarian, is now available at Amazon.com.   Please read and discuss it with friends, and send in a review.

Monday, January 20, 2020

2 PARAGRAPHS 4 LIBERTY: #246 "A PROPOSAL FOR SOLVING OUR HOMELESS PROBLEM"

On Sunday, November 24, 2019 I published an op-ed column in the Orange County Register about my proposal for an institutional approach to the homeless crisis.  Instead of our normal “2 Paragraphs” edition, this week I am substituting that column.  As always, feedback would be appreciated.  
Here is the Register column for your thoughts.
             Our great country seems to be vexed by the Homeless issue.  All of us should take affront that people living in the United States and within its laws are being reduced to “living on the streets.”  So how is this situation being perpetuated, and how should it be addressed?
             As we have seen, the various governments’ responses around the country to the homeless issue have been sporadic if not spasmodic.  Every once in a while a state or the federal government will set aside fairly large amounts of money in one-time payments, or temporarily open an armory, either to make themselves feel better or to reduce some political heat.  But then the cold hard facts are that the problems continue on virtually as before.
             So what we need instead is an institutional response that should greatly reduce this national and even moral problem.  My approach is modeled after Dr. Milton Friedman’s “negative income tax” proposal, and is as follows, with the amounts of money used only for illustrative purposes:
1.       No one in our country will pay any income taxes on their first $30,000 of earnings from whatever source – not you, me, Bill Gates or anyone else.  (This could evolve into a national graduated flat tax, but that is a different issue.)
2.       For those people who earn no money, regardless of the reason, anyone who is at least 18 years of age, a citizen of our country or here legally with a green card will receive a stipend from the federal government in the amount of $15,000 per year – probably broken down into monthly payments of $1,250.  However, for every dollar they earn they will lose 50 cents of the stipend.  (Accordingly, everyone will have an incentive to earn the extra dollar.)  And, importantly enough, ALL other welfare payments could be abolished, except those for people with truly special needs.
3.       So what about the homeless?  The answer is that if each of those people had the equivalent of an ATM account with $1,250 automatically deposited into it each month the private sector would quickly start providing low-cost room and board-style living for each of them, probably at a competitive rate of about $1,000 per month, which would leave the recipients an additional $250 to pay for personal items, clothing, etc.
That would be the program.  Of course, the opposing argument is that many of these people would simply throw their money away on alcohol and other drugs, gambling or otherwise be irresponsible.  So what about them?  The answer is that basically the homeless issue is and should be a local problem overseen by city and county governments.  The federal government could and should participate as stated above, and then leave the issue to local control.  And then at the local level there should be a triage system to address different groups of the homeless people, as follows:
1.       Some people are temporarily down on their luck, but they both can and want again to function successfully in our society.  For those people a temporary financial boost in their ATM accounts would probably be all they would need to get back on their feet. 
2.       Another much larger group would need to be screened for mental health, drug and alcohol and other debilitating conditions.  Then they would, if necessary, be given access to appropriate assistance, to the degree that if they needed a conservatorship or a program of drug rehabilitation, that would be mandated. 
3.       The final group would be comprised of those who simply want to continue living that type of life – or at least think they do.  Those people would be provided places to live such as at one of these room and board facilities, or at various government developmental centers, or even some of the presently lightly used reserve military facilities or the like.  As we all agree, no one in our society should be arrested for “camping” or trespassing on public property unless they have a place to live with a roof over their heads.  But this system would provide those places.  Then, once that system is in place, the police could resume their enforcement of local ordinances that prohibit things like littering and illegal camping, urinating or defecating in public, etc.  And a day or three in jail would help convince some of them to change habits.
Of course, there are always complications involved in any system like this, such as extra provisions being made for children and the differences in the costs of living in different parts of our country.  But those issues can be addressed locally without making the approach too complicated.
Accordingly, with the publication of this column, I am reaching out to all people of good will in our society, including the legal, medical, religious and social communities, as well as caring groups like the ACLU, NAACP, MALDEF, various rescue missions, places of worship and others.  In that regard, I openly say that I don’t purport to have all of the answers, but please join me in actively trying to find some by sending these ideas to your elected representatives.  Because, as it now exists, the homeless problem is untenable and is an insult to who we are a people.  And it calls for an institutional response to resolve it.
Question for the week: What is the difference between a raven and a crow?  Mostly unknown to people, a raven has five pinion feathers in its tail and a crow, which is smaller, has only four pinion feathers.  So the difference between a raven and a crow is a matter of a pinion. . . .

Judge Jim Gray (Ret.)
2012 Libertarian candidate for Vice President, along with
Governor Gary Johnson as the candidate for President





James P. Gray is a retired judge of the Superior Court in Orange County, California, a former Peace Corps Volunteer in Costa Rica, criminal defense attorney in the Navy JAG Corps, federal prosecutor in Los Angeles, and the 2012 Libertarian candidate for Vice President, along with Governor Gary Johnson as the candidate for President.


Please listen to our weekly radio show entitled “All Rise! The Libertarian Way with Judge Jim Gray” as we discuss timely issues, and show how they will be addressed more beneficially by employing Libertarian values and approaches.  You can hear it every Friday morning at 7 Pacific/10 Eastern by going to www.VoiceAmerica.com, clicking on the Variety Channel and then upon the word “live.”  You can also hear past shows on demand as well.  And, by the way, these 2 Paragraph columns are now on my website at www.JudgeJImGray.com, Facebook and LinkedIn at judgejimgray, Twitter at judgejamesgray, and wordpress at judgejimgray.wordpress.com.  Please visit these sites for past editions, and do your part to spread the word about the importance of Liberty.  In addition, my new book entitled “2 Paragraphs 4 Liberty: Solutions that are Practical, Effective, Responsible, Libertarian, is now available at Amazon.com.   Please read and discuss it with friends, and send in a review.

Monday, February 4, 2019

2 PARAGRAPHS 4 LIBERTY: #202 "A COMPENSATION DILEMMA"

     One of the issues today that appears mainly unfixable but also eminently unfair and even infuriating is the disparity of compensation paid to the lower working classes versus that sometimes provided to some senior employees and officers of some public companies.  For example, when I read about severance packages in the tens of millions of dollars for some senior executives, it feels obscene.  Why should any such person ever be in the position to receive any such payout?  It is simply too much money!  I know that life is often unfair and it is certainly complicated, and that compensation is also often reduced by a progressive income tax system, but this still bothers me.  But the problem is, what can be done about it, if anything? 
       For the government to reach in and put limits upon compensation packages in the private sector both strongly violates my libertarian philosophy as a clear violation of Liberty, and is also impractical.  It is clear that private competing companies must be able to attract and retain gifted, experienced, creative and insightful leaders, and one effective way to do that is to offer attractive compensation packages.  For example, most people probably agree that people like Elon Musk, Steve Jobs, Bill Gates and Thomas Edison should be well compensated by their companies.  The problem is that the compensation packages of most CEOs and other high officials are mostly set by the board of directors.  But, as a practical matter, most of the members of the boards have their positions at the pleasure of those same officials.  So the relationship can be incestuous and often hollow.  An alternative would be for there to be a law that everyone’s compensation package be capped at something like ten times that paid to the lowest-paid worker.  But formulas like that can bring both substantial philosophical and practical problems of their own, depending upon many variables.  (Remember the Law of Unintended Consequences?)
         I don’t have a proposed resolution for this nagging and sometimes even galling problem, but instead bring it to you for your thoughts and suggestions.  Please respond as to those thoughts.  It is an important issue that bothers many people in our country in a time that we need both to heal many wounds and also have people believe that they are being addressed and healed.  Do you agree?  If so, what should be done about this issue, if anything?

Quote for the week:  “Dreams are not so different from deeds as some may think.  All the deeds of men are only dreams at first.  And in the end, their deeds dissolve into dreams.”                                                                                          Theodore Herzl:  Old New Land (1902)

Judge Jim Gray (Ret.) 
2012 Libertarian candidate for Vice President, along with
 Governor Gary Johnson as the candidate for President



By the way, these columns are now on Facebook and LinkedIn at judgejimgray, Twitter at judgejamesgray, and wordpress at judgejimgray@wordpress.com.  Please visit these sites for past editions, and do your part to spread the word about the importance of Liberty.