Left Coast Voices

"I would hurl words into the darkness and wait for an echo. If an echo sounded, no matter how faintly, I would send other words to tell, to march, to fight." Richard Wright, American Hunger

Archive for the tag “economics”

Not Ready for Hillary, and Other Basic Laws of Nature – Tom Rossi

It’s been a while since I copycatted one of Roger’s ideas. So here we go with a collection of mini-rants on things that seem obvious to me…

I’m not ready for Hillary. I know her people went through a lot of trouble to come up with that cute little piece of wit, but Hillary Clinton is a hawk and she’s also an unquestioning believer in the brand of economics that lead to disaster and is basically a system of justification for chasmic separation between the “haves” and have-nots.” Being a hawk, she is pro-war. That means that she has supported war as a “solution” where it was not even close to appropriate.

Ready for Hillary bumper stickers

I’m going to come into disagreement with a lot of liberals on this one, and maybe even some of my co-writers, here, but I just don’t get it. Hillary is your standard issue politician, unremarkable in any way whatsoever. People can’t tell me why they support Hillary, only that they do. People have told me that they are “fans” of Hillary. Yuck. Before the 2008 election, other people told me they were “fans” of Sarah Palin. That statement kept me awake at night for weeks.

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And why? Why, why, why, can you not buy a can of soup anymore that doesn’t have celery in it? I hate celery! I know some people like it, but it takes over the taste of a soup like putting a bunch of garlic in there would. Leave it out, people! It’s basically a cheap filler that makes it seem like there’s something other than broth in the soup. I’d rather have broth.

Another thing: It seems that, lately, the amount of time that television shows of all types spend at commercial has finally equaled the airtime of the show, itself. I’m at the point where I keep a list of things I see in commercials just so I can avoid those products.commimage I’m sick of hearing how my life will be a big dance party if I buy a friggin’ Toyota or how cool and macho I’ll be if I buy a Pontiac or what a unique individual I would be if I bought an Infinity. Is anybody really still stupid enough to think that their car defines or changes who they are? Really???? Save some money, go on a vacation to someplace cool. The end.

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And why do I keep seeing Dick Cheney on television?!?!? The GOP must pay TV stations directly to give us fake “stories” about his fake heart. The GOP doesn’t realize that, if you look really closely, you can see the spots where he shaves down the horns, every day. But hey, keep it up. He is about as effective a spokesman as Sarah Palin was. He’s so thoroughly un-charismatic that people naturally want to think the opposite of whatever he says. Keep it up.

-Tom Rossi

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Tom Rossi is a commentator on politics and social issues. He is a Ph.D. student in International Sustainable Development, concentrating in natural resource and economic policy. Tom greatly enjoys a hearty debate, especially over a hearty pint of Guinness.

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You Are Too Stupid – by Tom Rossi

Despite hundreds of millions of dollars spent, despite all the threats of terrorism and economic disaster, despite the cries of socialism, fascism, and even communism, you still re-elected Barrack Hussein Obama. For this reason, the Republican party has decided that what is needed is to simply take away your voting rights.

Ho hum, you say? “Wake up, Tom! Republicans have been trying to disenfranchise African-Americans, Hispanic Americans and other groups for years, if not centuries!” Well, yes… there is that. Let’s not go into a long history, but just give a quick review before we talk about the Republican party’s inspired new ideas (don’t you wish we had a convention on sarcasm in text, like it always appears in some ugly color, like baby-shit yellow?).

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Republicans have sponsored and in many cases put through bills in almost every state requiring state-issued, photo IDs to be presented by voters. This may sound simple, but many voters (many of the poorest voters) face considerable difficulties in getting those IDs. Besides, actual voter fraud hardly exists. They have sent out letters to legal immigrants – naturalized citizens – that they and/or their families will be deported if they attempt to vote. They sent out letters claiming that people can vote by phone… the day after the election. Several Republican Secretaries of State have adjusted voting hours and polling-place personnel levels in order to cause hours-long waits to vote in poor or just Democratic-leaning precincts. My hands are getting tired from typing – so I hope you get the picture.

But now, ladies and gentlemen, comes the main event. An idea, a proposition, more evil than Scarpia, more conniving than Iago, more heartless than Dick Cheney… Because you, my friends, are just too stupid… too stupid to vote for who you’ve been instructed (at great effort, I might add), the power to choose your president will be taken away. Not completely, mind you. But just enough to tip the balance, and to make sure that there are no more Romney-style humiliations.

Here’s the ingenious plan: Even while most Americans want to do away with the electoral college and elect the president directly by popular vote, the Republican leadership in several key. “swing” states want to take the electoral college much further. They want to use the gerrymandered congressional districts, within their borders, to determine the winner of the state’s electoral votes.

If these rules had been in place before the 2012 election, Romney would have won the presidency, despite having lost the popular vote, 47% to Obama’s 51%, a difference of about 5 million votes.

The inescapable conclusion from all this is that the Republican party (I’m not talking about ALL Republican voters, but the party’s leadership) hates democracy. And while it’s true that the Democratic party also works to change the balance of who votes in America, they work to get more people to vote, not less. That actually (and obviously) increases democracy.

This picture may have been faked, but I think it captures some real sentiment out there.

This picture may have been faked, but I think it captures some real sentiment out there.

To my many, many Republican readers out there, I ask: Will you sacrifice democracy in order to get your way? I sincerely believe that the answer will, from most, actual Republican voters, be “No!” You can’t love America and hate democracy. That would be the ultimate hypocrisy.

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-Tom Rossi

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Tom Rossi is a commentator on politics and social issues. He is a Ph.D. student in International Sustainable Development, concentrating in natural resource and economic policy. Tom greatly enjoys a hearty debate, especially over a hearty pint of Guinness.

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Presidential Jabber – Roger Ingalls

The campaigning season is upon us and the air is abuzz with comedic babble. In this spirit, I’d like to share a few of my favorite political quotes; some witty and funny but others just ooze stupidity.

”You know nothing for sure…except the fact that you know nothing for sure.” —President John Kennedy

”If I were two-faced, would I be wearing this one?” —Abraham Lincoln

”Did you ever think that making a speech on economics is a lot like pissing down your leg? It seems hot to you, but it never does to anyone else.” —Lyndon Johnson

”My fellow Americans. I’m pleased to announce that I’ve signed legislation outlawing the Soviet Union. We begin bombing in five minutes.”—Ronald Reagan

”I am not worried about the deficit. It is big enough to take care of itself.” —Ronald Reagan

”Once you leave the womb, conservatives don’t care about you until you reach military age. Then you’re just what they’re looking for.” —George Carlin

”Politics is the art of looking for trouble, finding it everywhere, diagnosing it incorrectly, and applying the wrong remedies.”—Groucho Marx

”My esteem in this country has gone up substantially. It is very nice now when people wave at me, they use all their fingers.”—President Jimmy Carter

”Politics is supposed to be the second-oldest profession. I have come to realize that it bears a very close resemblance to the first.”—Ronald Reagan

”A conservative is a man with two perfectly good legs who, however, has never learned how to walk forward.”—President Franklin Roosevelt

”Everything is changing. People are taking their comedians seriously and the politicians as a joke.”—Will Rogers

”I love California, I practically grew up in Phoenix.”—Dan Quayle

”We do know of certain knowledge that he [Osama Bin Laden] is either in Afghanistan, or in some other country, or dead.” —former Defense Secretary Donald Rumsfeld

”Our enemies are innovative and resourceful, and so are we. They never stop thinking about new ways to harm our country and our people, and neither do we.” —President George W. Bush

”We know there are known knowns: there are things we know we know. We also know there are known unknowns: that is to say we know there are things we know we don’t know. But there are also unknown unknowns — the ones we don’t know we don’t know.” —Donald Rumsfeld

”Rarely is the questioned asked: Is our children learning?” —George W. Bush

There’s a million of them; we could go on for days. Let’s close this out with a quote by Mark Twain that accurately describes todays Senators and House of Representatives, ”Reader, suppose you were an idiot. And suppose you were a member of Congress. But I repeat myself.”

Would taxing the (super) rich a little more be fair?

Economists always talk about “margins” or “marginal this” and “marginal that.” What does this really mean and how does this concept apply to real life?

It’s like this: Imagine you’re ten years old and your mom brings you late for dinner on Tuesdays, after your little league practice. Your mean older brother has already eaten two of the pork chops (or vegetarian schnitzel, if you prefer) that your dad grilled on the barbeque and there’s only one left. Your brother wants it, but your parents intervene and give it to you. Was this a good decision?

It should be pretty obvious that it was. But why, exactly? In technical terms, the decision was a good one because you would get more “marginal utility” from your first pork chop than would your brother from his third.

What might be an even simpler food-based analogy is the good-old pizza story. How much satisfaction do you get from your second piece of pizza (after you’ve only eaten one)? Compare that to the satisfaction you get from your eleventh slice (after you’ve already eaten ten). Can you see the difference?

Getting back to economics, how much would the lifestyle of a multi-millionaire improve if he or she all of a sudden received an extra thousand dollars? How much would your lifestyle improve with an extra thousand? I’ll bet there’s a difference. That’s because the marginal utility of a thousand dollars is much higher for the average person than it is for a wealthy person. I think this example could be taken much further. I’m going to say that the marginal utility of $1,000 to the average American adult is much higher than the marginal utility of $100,000 to a multi-millionaire.

OK, are you ready for some fun? Let’s do some math! Let’s forget about millionaires. Most whine that they don’t “feel” rich anyway. Forbes Magazine says that there are 403 BILLIONAIRES (yes, with a B) in America, with a combined net worth of 1.3 Trillion dollars. That divides up to an average of 3.2 billion each. Do you think you could somehow get by on $100,000 per year? These people could “survive” at that level for 32,258 years on average without ever making any more money (not accounting for inflation which is predicted to be pretty bad starting in the year 8011).

My question is simple: What is the marginal utility of the third billion dollars out of $3.2 billion? How much does a person’s life improve if he or she has $3.2 billion versus a mere $2.2 billion? Does it enable a person to buy a third private jet, or a sixth summer mansion? What if that money were used to employ people to repair our nations aging and rotting infrastructure? That would mean over 8 MILLION jobs that would pay $50,000 for one year, or 800,000 jobs at $50,000 for ten years.

Now of course these figures are exaggerated somewhat. Some of that money would have to be spent on equipment, materials, etc. But I think the point makes itself. But here’s the kicker (and it’s a big one)… The billionaires would BENEFIT MORE from this scenario than they presently do by keeping that extra billion dollars. Why? Well, besides having better roads, water supply pipelines, sewage handling and treatment, and many other elements of the quality of life, there would be millions more people with the means to buy their products and services. In fact, the billionaires could probably recoup their “investment” (more or less) in just a few years in dollar terms, but the benefit to their country would outweigh that many times over.

So, I ask again: Would taxing the rich be “fair”?

-Tom Rossi

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Tom Rossi is a commentator on politics and social issues. He is a Ph.D. student in International Sustainable Development, concentrating in natural resource and economic policy. Tom greatly enjoys a hearty debate, especially over a hearty pint of Guinness.

Tom also posts on thrustblog.blogspot.com

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Banker to the Poor

In earlier posts, I shared a number of books on micro-lending. I want to share with you another important one I just finished. Banker to the Poor is authored by Dr. Muhammad Yunus who is seen by many as the first initiator of such a system.

Dr. Yunus is a professor of economics. He studied at the Vanderbilt University in the US before returning to Bangladesh and slipping into life as a professor. But in 1974, a famine ravaged the country, sending millions of rural Bangladeshi to the cities to beg on the streets.

“What good were all my complex theories when people were dying of starvation on the sidewalks and porches across from my lecture hall?…. Nothing in the economic theories I taught reflected the life around me.”

Dr. Yunus began to experiment with what we now know as micro-lending and lent $27 to 42 women who could buy bamboo to make and sell stools. This was the first step that a few years later saw the creation of the Grameen Bank. He created a system whereby loan recipients were grouped into cohorts of five. Only two of the five received their money up front. As soon as they were paying back their loans, the other three received theirs. Yunus sought to create more than individual business initiative, he sought to create a community of entrepeneurs who gave each other support. 97% of loan recepients repaid their loans.

Today the Grameen Bank is a $2.5 billion banking operation in Bangladesh. The micro-lending model has spread to over 50 countries worldwide, including the U.S. to Papua New Guinea, Norway to Nepal.

Dr.Yunus continues to  travel around the world spreading the belief that poverty can be eliminated: “…the poor, once economically empowered, are the most determined fighters in the battle to solve the population problem; end illiteracy; and live healthier, better lives. When policy makers finally realize that the poor are their partners, rather than bystanders or enemies, we will progress much faster that we do today.”

This book is a great read, particularly the first half, where Dr. Yunus shows his personal evolution into this idea as well as his life in the US as Bangladesh goes through its political upheaval. He shows a passionate love for his country and great courage in his willingness to offer the loans to women, who were held back by tradition and strict male domination.

In 2006, Dr. Yunis was recognized for his life’s work and awarded the Nobel Peace Prize. This could be seen as recognition not just an award for the work of a visionary, but recognition that there is a sustainable solution to empower people to lift themselves out of poverty. I’ve never met Dr. Yunis, but I bet he also sees it this way.

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Alon Shalev is the author of The Accidental Activist (now available on Kindle) and A Gardener’s Tale. He is the Executive Director of the San Francisco Hillel Foundation, a non-profit that provides spiritual and social justice opportunities to Jewish students in the Bay Area. More on Alon Shalev at www.alonshalev.com

A Woman Changing the World

Roshaneh Zafar is helping to fight extremism and create a sustainable model that will discourage recruitment to terrorist organizations by giving people hope that they can live a prosperous and stable way of life.

This American-educated banker is focusing her efforts on micro-financing. She has found a way to empower some of Pakistan’s poorest women by giving them the tools and educational opportunities to create businesses and income for themselves and their families.

“Charity is limited, but capitalism isn’t,” Roshaneh told Nicholas D. Kristof in an interview for the New York Times. “If you want to change the world, you need market-based solutions.”

Micro-financing, as I discussed in a post on Kiva.org/, lends a small amount of money to impoverished people that will enable them to set up a business.

Ms. Zafar grew up in Lahore and took the opportunity to study business at the Wharton School and economics at Yale. She worked for a while at the World Bank before returning to Pakistan in 1996 to start the Kashf Foundation.

Below is an interview with Ms. Zafar. Make yourself a cup of coffee, then sit down and spend 7 minutes with this inspiring woman.

Despite many setbacks, Kashf can now boast 152 branches throughout Pakistan and has loaned over  $200 million to more than 300,000 families. Ever thinking ahead, Ms. Zafar is now studying how to leverage this model to encourage the poor to build up savings and accrue assets.

Ms. Zafar is not only helping people start businesses, create jobs and support education that will enable people to break out of the vicious spiral of poverty, but will offer an option to living that is neither violent, nor exploitative.

She deserves a Nobel Prize, in economics and in peace. Micro-financing is a tool to ending the very conditions that create terrorism and extremism. Every Western and stable country has an interest in incorporating her model into their foreign policy.
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Alon Shalev is the author of The Accidental Activist (now available on Kindle) and A Gardener’s Tale. He is the Executive Director of the San Francisco Hillel Foundation, a non-profit that provides spiritual and social justice opportunities to Jewish students in the Bay Area. More on Alon Shalev at www.alonshalev.com

 

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