Law, Economics, and Obama...

Discussion in 'Law and Justice System' started by PoliticalChic, Aug 18, 2012.

  1. PoliticalChic
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    PoliticalChic Diamond Member

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    1. One of the common denominators of prosperous times and places has been law and order. For those times and places, where it has been difficult to establish law and order, prosperity is difficult to achieve. Consider Western Europe after the collapse of the Roman Empire: economic stagnation and retrogression followed.

    a. The same can be seen in urban ghettos where the devastating riots of the 1960’s both destroyed existing businesses, and kept out new ones for more than a generation. In comparison, even despotic laws of Genghis Khan, or the Ottomans fostered economic prosperity when the laws were, at least, dependable, rather than capricious or corrupt.

    b. In his book, “And Justice For Some,” Glenn Greenwald explains that the rule of law is disappearing. Instead, we have what he calls "The Principle of Elite Immunity,"-the idea that political and business elites are never to be punished for their crimes, except perhaps if their crimes harm other elites. Consider the Chrysler investors illegally passed over in favor of labor unions, and Obama's unconstitutional executive orders as examples.




    2. A fundamental principle of our society is property rights. In nations were property rights have not been formally abolished, the costs of legally validating ownership of a home, a farm, or a business may be prohibitively expensive relative to the average income level, a crippling handicap for those seeking to rise from poverty to prosperity. Without property rights, one with entrepreneurial talents loses the access to other people’s money: homes or other assets not recognized by a legal system cannot be used as collateral.

    a. Even OWS, who oppose private property can learn: “Who’d have thought that a crowd of people demanding the seizure of wealth from banks, corporations, and the wealthy might also have a few thieves? I’m shocked,shocked to find theft occurring in a group that has hijacked private property it refuses to leave. I can’t imagine that a crowd that demands free higher education and the forgiveness of tens of thousands in student debt would also think of someone’s Mac or an iPhone as equally as communal as a college education…. Law and order! Get tough on crime! Defend private propertyCelebrated redistributionists discover healthy respect for private property « Hot Air


    b. Sadly, some at the very top don’t understand the system: “President Barack Obama’s recent remark that “You didn’t build that,” is the “Joe the Plumber” remark of this campaign. In his attempt to exalt the government, he insulted the individual and turned upside down the historical relationship between Americans and their government.” http://www.flatheadbeacon.com/articles/article/you_didnt_build_that/29239/




    3. The formal legal system is not the only aspect of law and order. The levels of honesty, cooperation, and civic virtue among the people is not only of social but of economic consequence. What economist William Easterly has called “the radius of trust” varies from group to group and from country to country. Within groups such as the Marwaris of India, the Chinese of Southeast Asia, or the Hasidic Jews of New York’s diamond industry, transactions of significant sums of money can take place without written agreements or recourse to the legal system, giving these groups competitive advantage over other members of their respective societies who cannot safely engage in similar low-cost ways of doing business. Whole nations can differ in levels of honesty: in Tokyo, bicycles can be left unlocked. Thomas Sowell, “Economic Facts and Fallacies, “ p. 202-203.


    a. The Bible is the wisdom of the West. It is from the precepts of the Bible that the legal systems of the West have been developed- systems, worked out over millennia, for dealing with inequality, with injustice, with greed, reducible t that which Christians call the Golden Rule, and the Jews had propounded as “That which is hateful to you, don not do to your neighbor.” It is these rules and laws which form a framework which allows the individual foreknowledge of that which is permitted and that which is forbidden.
    David Mamet, “The Secret Knowledge.”
     
  2. Moonglow
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    Moonglow Diamond Member

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    I prefer to have my things all rolled up in one, in things like cheese balls, not ipso facto proganada articles.
     
  3. Moonglow
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    Moonglow Diamond Member

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    It helps when you have a monoploy of traded diamonds within a certain field, if you don't buy their diamonds you are listed as a blood diamond trader.

     
  4. PoliticalChic
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    PoliticalChic Diamond Member

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    Well, now, drop-draws.....let's see what you are really saying, shall we?

    1. By using the term 'propaganda,' you would like to imply that the OP is either misleading or false....

    ...yet you fail to list or specify any such items.


    2. Quick check? Which of the following is false or misleading:
    a. Law and order are prerequisites for prosperity
    b. riots of the 60's have retarded economic development in the ghettos
    c. the idea that elites get away with things most of us would not
    d. property rights are a fundamental principle
    e. Obama believes he has the right to override this principle for the greater good.
    f. honesty, cooperation, and civic virtue are pluses for the economic milieu
    g. it is from the Bible that the legal systems of the West have been developed

    Care to make a case that any or all are erroneous?

    No?

    Good.


    3. In that case, allow me to re-write your post for more accuracy:

    "I prefer to have my things all rolled up in one, in things like cheese balls, not including any new or different ideas that I'm not equipped to deal with, or incorporate into my worldview."


    4. You inadvertently give insight in that you equate ideas with cheese balls.


    I am so looking for improvement in your posts, dropsy!
    Work on it.
     
  5. richard2012
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    richard2012 Rookie

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    Hello,

    Economic analysis of law is the application of economic methods to analysis of law. Economic concepts are used to explain the effects of laws, to assess which legal rules are economically efficient and to predict which legal rules will be promulgated.
     
  6. PoliticalChic
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    PoliticalChic Diamond Member

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    Now, richie....is that your view, or your wish?

    You know contributing constituents get to write loop-holes into tax policy....right?

    And big corporations write the bills so that smaller competitors lose out.....



    1. One of those urban myths is that the Left battles big business on behalf of the ‘little guy’….those greedy ‘robber barons!’ Of course, as is true of so many ‘truths’….it is false.


    2. The actuality is that big business knows that the greatest threat is not government or its regulation, but competition with smaller, more innovative firms. So, when the opportunity arises to cooperate with government in crafting new regulation, big business lobbyists, rather than opposing ‘reform,’ they write the laws for their own advantages!

    a. The truth about the Left’s push for ever-greater regulation of private industry is that, rather than to protect consumers against big business…it is designed to make big business become part of their political machine.

    b. And big business will pay whatever it takes to join.



    3. Example: The regulatory reforms of the meat packing industry in the early 1900s, inspired by Upton Sinclair’s muckraking book “The Jungle,” were enacted with the enthusiastic cooperation of America’s largest meat packing corporations- because they knew that only the largest could afford to comply with the new regulations. Thus, the smaller ones were driven out of business.

    a. Upton Sinclair: “The federal inspection of meat was historically established at the packer’s request. It is maintained and paid for by the people of the United States for the benefit of the packers.”
    William J. Chambliss, “Making Law:The State, the Law, and Structural Contradictions,” p. 5

    b. “Obama signed the “Family Smoking Prevention and Tobacco Control Act,” and followed it up by saying: "Today, despite decades of lobbying and advertising by the tobacco industry, we've passed a law to help protect the next generation of Americans from growing up with a deadly habit..." Philip Morris championed that bill for years. The next day, the homepage of Phillip Morris said: "Philip Morris supports Federal Regulation of Tobacco."… Philip Morris spent $40,000-a-day on a pro-regulation lobbying effort.” Barack Obama: The Best Friend of Big Business - St. Louis Conservative | Examiner.com
     

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