Category Archives: Economics

Business, Economics, Media Criticism, Political Commentary, Social Commentary, Space, Technology and Society, War Commentary

A Space-Socialist Republican

22 Comments

Greg Autry is sort of singing my tune:

If NASA were compelled to “downselect” Commercial Crew to a single vendor, Washington power politics would clearly favor Boeing’s CST-100 capsule, a luxurious spacecraft, that while it has never flown, is on track for some unmanned flights to the ISS in about three years. This leisurely development schedule puts no pressure on SLS. While it is surely coincidently that both the SLS and CST-100 programs are headquartered in Houston, we are lucky to have Messrs. La Branche and Culberson standing between us and the utter chaos of free market competition.

…Frankly, DragonRider could fly to the ISS next month if it were subject to the same expectations of safety as NASA’s Space Shuttle. A truly conservative response to Mr. Rogozin would be to announce that the United States is ready to move a DragonRider launch forward without further testing, send eight Navy Seals to the ISS and “liberate” our space station from Russia’s state capitalist squatters.

Well, I wouldn’t go quite that far. But that’s Greg.

Business, Economics, Media Criticism, Political Commentary, Technology and Society

Crony Capitalism

10 Comments

The GOP needs to fight it by becoming the party of innovation:

This revelation, that new small businesses primarily create jobs and economic growth, demands a complete rethinking of economic policy for the United States. If Republicans understand this and thereby embrace the mantle of innovation, not only will they be expediting a new wave of ingenuity, but they will also share credit with entrepreneurs for the next tech boom.

This requires creating a regulatory and legal climate that fosters “permission-less innovation.” True innovators often can’t afford—either in terms of money or mental energy—to hire lobbyists and change the law. Entrepreneurs should not be wasting their start-up capital on lawyers, consultants, and PAC donations.

Given the stakes—the future of the economy—a political party that is not serious about technology and innovation is a party that is not serious about economic growth and job creation. Thus far, the Republican Party is not serious about technology and innovation. Republicans talk about regulatory reform but in practice do little about it.

Good luck with that, for the Stupid Party.

Business, Economics, Mathematics, Media Criticism, Political Commentary, Science And Society, Social Commentary

The Antarctic Ice Sheet

19 Comments

OK, there seems to be a Twitter panic going on, so I went and read Alan Boyle’s story about it. That was the first time I heard that (even if the models are valid) the problem is two hundred years off.

Isn’t there anyone out there who understands discount rates?

[Update a while later]

Here’s more detail from John Timmer:

Even in the short term, the new findings should increase our estimates for sea level rise by the end of the century, the scientists suggest. But the ongoing process of retreat and destabilization will mean that the area will contribute to rising oceans for centuries.

Sorry, but I’m not going to worry about “rising oceans for centuries” today. Even the end of the century is effectively discounted to zero. It’s economically insane to reduce economic growth now to prevent something that won’t happen for decades.

[Late afternoon update]

As I noted on Twitter earlier:

Business, Economics, Media Criticism, Political Commentary

Demographic Death Spiral

4 Comments

No, not of people this time, of businesses:

More businesses are failing now than are being created, a first for the American economy since the Carter era, according to a new study by the Brookings Institution. That has become even more true during the Obama “recovery” than during the Great Recession.

Also:

Another nugget in that Brookings paper: “older and larger businesses are doing better relative to younger and smaller ones”

The younger and smaller ones don’t have the financial resources to buy (or, actually) rent the grifters and grafters in DC.

[Update a couple minutes later]

This is probably related; how bad is the job market for 2014 grads? This bad:

Today’s crop of new B.A.s are staring at roughly 8.5 percent unemployment, 16.8 percent underemployment. Close to half of those who land work won’t immediately find a job that requires their degree, and for those stuck in that situation, there are fewer “good” jobs to go around. Welcome to adulthood, class of 2014.

A lot of them wasted borrowed money on their degrees, loans that are currently not dischargeable in bankruptcy. So they have that going for them, too.