Thatcher’s Economy

[T]he British economy began its long boom, combining economic growth with price stability. Loss-making industries were closed down or reduced in size. Manufacturing industries shed labor, often while increasing output, as they restructured to meet foreign competition. New companies or entrepreneurs from academic and non-industrial backgrounds established new industries in the financial services, information, and high-tech sectors. Privatization transformed inefficient state-owned industries into dynamic private sector enterprises. New financial instruments allowed entrepreneurs to take over sluggish low-earning companies and put their assets to more profitable uses.
 
In general, Thatcher’s British economy, like Reagan’s revived U.S. economy, was characterized by change, profitability, growth, the better allocation of resources (including labor), and the emergence of new industries—indeed of an entirely new economy—based on the information revolution.

John O’Sullivan. RTWT.

We are so far into the era of the Big Lie about Mrs. Thatcher and what she accomplished, that it is good to refresh our recollections from time to time.

Anti-Quote of the Day

Thomas PM Barnett:

“Bottom line: mature democracies trust populists more, while authoritarian states like fellow rightists.”

I like Barnett, and many of his ideas.  However, quotes like this that make me think that he belongs in a cloistered think tank deep in the beltway, where his thoughts would probably have less impact than they currently do.

Sustainability of Progressive Politics

What is sustainability? It seems to be a term that has been loaded with additional baggage since the Progressives have reappropriated the term for their own use. It seems to be a word used to describe the longevity of a given system, usually in an ecological context. Yet, as with many ideological terms of the left, it manages to translate itself into virtually every facet of human life. For example, sustainability encompasses what kind of house you live in, the food you eat, the types of vacations you go on, the politicians you elect, your choice to have children (or not), the types of investments you make, and many other aspects. But what is sustainability with regard to politics? (I am not speaking of sustainability policy–I’m speaking of the longevity associated with political constituencies.)

Victor Hanson wrote at his Works and Days blog about the sustainability of San Fransisco–no, not the ecological sustainability, but rather the sustainability of the (strongly-Democratic) human population:

I spent some time speaking in San Francisco recently… There are smartly dressed yuppies, wealthy gays, and chic business people everywhere downtown, along with affluent tourists, all juxtaposed with hordes of street people and a legion of young service workers at Starbucks, restaurants, etc. What is missing are school children, middle class couples with strollers, and any sense the city has a vibrant foundation of working-class, successful families of all races and backgrounds. For all its veneer of liberalism, it seems a static city of winners and losers, victory defined perhaps by getting into a spruced up Victorian versus renting in a bad district, getting paid a lot to manage something, versus very little to serve something. All in all, I got a strange creepy feeling that whatever was going on, it was unsustainable–sort of like an encapsulated Europe within an American city. The city seems to exist on tourism, and people who daily come into the city to provide a service, get paid–and leave….
 
I remember SF in the late 1950s and early 1960s as a kid visiting with his parents. A much different place altogether of affordable homes, vibrant docks, lots of construction—and children everywhere.

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Enslaving the Responsible

Over at Reason, the Libertarian Party of California is quoted as saying:

There’s no reason why consenting adults should not be allowed to marry so long as their arrangement doesn’t interfere with any other individual’s ability to live their life in any way they want to.

Aye, there’s the rub. With the contemporary culture of the invasive nanny state, we do not let people suffer the consequences of their own mistakes.

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Live by the Study, Die by the Study

According to a NY Times story:

According to roughly a dozen recent studies, executions save lives. For each inmate put to death, the studies say, 3 to 18 murders are prevented. The effect is most pronounced, according to some studies, in Texas and other states that execute condemned inmates relatively often and relatively quickly.

I can only say one thing: ROFLe3!

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