LIBERALISM WORKS:

Only Economic Freedom Pulls People Out of Poverty (Vincent Geloso, June 20, 2024, AIER)

In an article recently accepted at Journal of Economic Behavior and Organization, James Dean and I argue that the potency of markets in alleviating poverty is deeply underestimated. As such, we shift the focus to the benefits of economic freedom — the alleviation of taxation, the shrinking of government, the reduction of labor market regulations, and the protection of property rights.

Four mechanisms connect greater economic freedom to poverty alleviation. The first is enhanced economic growth and job creation. A freer economy attracts more businesses and investments. Fewer regulations and lower taxes reduce the cost and complexity of starting and operating businesses, which encourages entrepreneurship and leads to job creation and economic growth. This means more opportunities for the poor to climb out of poverty. Second, lower taxes allow for greater rewards to effort, enhancing motivation. Third, the absence of regulation means that many regulatory barriers — such as costly occupational licences or business permits — are eliminated, which allow for new pathways out of poverty to emerge. Fourth, economic freedom flattens barriers to geographic mobility, such that people can move to places of greater opportunity. A contemporary example of this mechanism is land-use regulations in cities which restrict the supply of housing. By increasing the price of housing, these regulations make cities inaccessible to the poor, even if they are hubs of economic opportunities. As such, people are stuck in areas with limited economic opportunities. The removal of these barriers also complements the effect of lower taxes, as factors that demotivate people from trying new pathways are removed. As such, their removal acts as motivator.

Together, these four mechanisms produce an environment where the poor are given the necessary room to exert agency and improve their lives through their own efforts. The repeated result is sustainable poverty reduction. Notice that nowhere does this negate the possibility of some targeted redistribution — think of Milton Friedman’s basic income proposal or school vouchers — that help pull out the poor out of poverty. In other words, these mechanisms mean that we stop pushing the poor down!

BEFORE THE FLOOD:

Is This the Man Who Could Topple Viktor Orbán? (H. DAVID BAER, JUN 20, 2024, The Bulwark)

Still, Magyar has learned a few things from the old man about mass communication. He has been brilliant at reappropriating Hungary’s national symbols—something the liberal opposition could never do—in a way that stabs at the heart of Orbán’s image. And in at least one respect, Magyar has outperformed the master. Unlike Orbán, whose appreciation for Hungarian cultural achievements appears to end with Ferenc Puskás and the 1954 World Cup, Péter Magyar loves poetry.

And poetry, much more than soccer, plays an important role in Hungarian national identity. The language Hungarians speak is not Indo-European in origin, which separates it from every other European language but Finnish and Estonian. To cultivate Hungarian identity is to cultivate the Hungarian language, and poets are the best cultivators of all. Hungary’s great poets are national icons.

When Magyar first entered politics, he formed an organization named after a verse from a poem by Sándor Petőfi, who died in battle fighting for Hungarian freedom in the Revolution of 1848. Magyar later linked his organization to the political party that abbreviates its name as TISZA. Tisza is also the name of a major river in eastern Hungary, about which Petőfi wrote another poem. The Tisza river flows slowly along a low gradient, making it prone to flooding. In Petőfi’s hands, the Tisza became a metaphor for the Hungarian people, who can be misunderstood as pliant and passive.


Watching the sun set over the still river, the poet notices the light’s amber rays striking the trees, as if they “were burning and flowing with blood.” Turning to the river, he asks, “Ah poor Tisza, why do they mistreat you / and speak of you harshly / you are the gentlest river on earth.” When he’s awakened by the pealing of alarm bells a few days later, the narrator exclaims: “Here comes the flood! / And wherever I looked I saw a sea / breaking its banks in a rage …. Ready to swallow the world.” The Hungarian people, Petőfi suggests, are like the Tisza river, silent and long-suffering, until, mistreated enough, they rise up in rage like a flooding river.

That Magyar thought to link his party to Petőfi’s poem was a communications masterstroke. It captures perfectly the mood in Hungary. Despite his electoral dominance, Orbán is not well-loved. He draws a sizable portion of support from the perception that his regime is inevitable. This has led to political apathy and a feeling of resignation, an attitude not all that different from what existed in the later decades of communism. If a viable political alternative ever emerged in Hungary, it could profoundly alter the feeling in the country. If people start to believe they really can be freed of Orbán, they might indeed rise up like a raging river.

At Tisza party rallies, alongside a sea of Hungarian flags and the sound of folk songs, the crowds chant, “The Tisza is flooding” (Árad a Tisza), which rings nicely in Hungarian. Indeed, “Árad a Tisza” could be well on the way to becoming a nationwide slogan of political resistance.

The Tisza (English)

When in the dusk a summer day had died,
I stopped by winding Tisza’s river-side,
just where the little Túr flows in to rest,
a weary child that seeks its mother’s breast.
Most smooth of surface, with most gentle force,
the river wandered down its bankless course,
lest the faint sunset-rays, so close to home,
should stumble in its lacery of foam.
On its smooth mirror, sunbeams lingered yet,
dancing like fairies in a minuet;
one almost heard the tinkle of their feet,
like tiny spurs in music’s ringing beat.
Low flats of yellow shingle spread away,
from where I stood, to meat the meadow hay
where the long shadows in the after-glow
like lines upon a page lay row on row.
Beyond the meadow in mute dignity
the forest towered o’er the darkening lea,
but sunset rested on its leafy spires
like embers red as blood and fierce with fires.
Elsewhere, along the Tisza’s farther bank,
the motley broom and hazels, rank on rank,
crowded, but for one cleft, through which was shown
the distant steeple of the tiny town.
Small, rosy clouds lay floating in the sky
in memory-pictures of the hours gone by.
Far in the distance, lost in reverie,
the misty mountain-summits gazed at me.
The air was still. Across the solemn hush
fell but the fitful vespers of a thrush.
Even the murmur of the far-off mill
seemed faint as a mosquito humming shrill.
To the far bank before me, within hail,
a peasant-woman came to fill her pale;
she, as she brimmed it, wondered at my stay,
and with a glance went hastily away.
But I stood there in stillness absolute
as though my very feet had taken root.
My heart was dizzy with the rapturous sight
of Nature’s deathless beauty in the night.
O Nature, glorious Nature, who would dare
with reckless tongue to match your wondrous fare?
How great you are! And the more still you grow,
the lovelier are the things you have to show!
Late, very late, I came back to the farm
and supped upon fresh fruit that made me warm,
and talked with comrades far into the night,
while brushwood flames beside us flickered bright.
Then, among other topics, I exclaimed:
“Why is the Tisza here so harshly blamed?
You wrong it greatly and belie its worth:
surely, it’s the mildest river on the earth!”
Startled, a few days later in those dells
I heard the frantic pealing of the bells:
“The flood, the flood is coming!” they resound.
And gazing out, I saw a sea around.
There, like a maniac just freed from chains,
the Tisza rushed in rage across the plains;
roaring and howling through the dyke it swirled,
greedy to swallow up the whole wide world.

IT’S IMPOSSIBLE TO OVERSTATE DEFLATIONARY PRESSURES:

HOW LAB-GROWN DIAMONDS UPENDED THE INDUSTRY AND COULD END UP CHANGING THE WORLD (Matthew Hart, 6/20/24, CrimerReads)

Rarity is the basement attribute that supports the diamond industry. Without that concept, the whole idea of a jewel is under threat. That threat became real when a virus invaded the sparkling domain of diamonds, destroying the very idea of rarity. The virus was lab-grown diamonds.

Pity the poor Malthusians.

IT’S JUST PART OF WHAT WE OWE THEM:

Paying reparations for slavery is possible – based on a study of federal compensation to farmers, (Linda J. Bilmes & Cornell William Brooks, 6/19/24, The Conversation)


In 1988, for example, the U.S. government paid reparations to Japanese Americans – and in some cases, their descendants – who were forced into internment camps during World War II.


In another example, starting in the 1990s, Congress passed a series of laws to compensate people in 12 western states and the Marshall Islands who were exposed to dangerous levels of radiation from the government’s nuclear testing program that occurred in the 1940s and 1950s. Since 1990, these programs have compensated some 135,000 victims and paid out US$28 billion to these victims and to some of their heirs.

America has paid compensation to coal miners who have contracted lung diseases, farmers who have endured crop failures and fishermen facing depleted fish stocks.

The federal government has also paid compensation to victims of terrorism, wrongful convictions and natural disasters.

It also has paid partial restitution to thousands of descendants of Native American tribes, whose tribal land earnings were stolen or mismanaged dating back to the 1880s.

Indeed, the federal government has long attempted to compensate individuals – and in certain cases entire communities – through a combination of restitution, financial benefits and rehabilitation.

These programs cost billions of dollars annually and are funded in a variety of ways, including specific excise taxes, the use of government trust funds and subsidized insurance policies.

We have determined that the diversity, scale and complexity of federal programs and beneficiaries show that reparations are administratively feasible. While only a few of these programs address racial injustice, they all demonstrate the government’s capacity to administer large-scale programs of compensation for those directly and indirectly harmed.

THAT WAS EASY:

Energy-positive laser fusion approach heads toward commercialization (David Szondy, June 19, 2024, New Atlas)

Since 2022, the Denver-based company has been working to turn the laser fusion concept into a practical source of power. The goal is to produce a new krypton-fluoride laser installation that generates 10 times higher laser energy at 10 times higher efficiency and over 30 times lower cost per joule than the NIF.

Using technology first developed for the US Strategic Defense Initiative (nicknamed the Star Wars program) in the 1980s, the Xcimer installation will use a laser system producing over 10 megajoules of energy. This will be focused on larger deuterium/tritium pellets that are easier to make and handle, and produce more energy when ignited.

Producing energy is useless if it isn’t harnessed, so the fusion chamber has molten lithium salts flowing through it, not only to protect the wall from neutrons, which reduces maintenance, but to absorb the energy and carry it away to generate power.

The idea is that the lasers will stand at a distance of 164 ft (50 m) and focus their beams through two small holes to reach the target pellet. The system is designed to ignite only a small amount of the fuel, which produces the energy needed to ignite the remainder like a match set to paper. This is more efficient and economical.

“The benefits of fusion for humanity have never been more clear or more necessary,” said Mark Cupta, Xcimer board member. “Xcimer has developed a game-changing approach to inertial fusion and assembled a team of the brightest minds in the industry to execute on it. I’m confident that with Xcimer leading us on this path, the world will see this transformative source of energy finally deployed at commercial scale.”

Thanks, Gipper!

CELEBRATING LIBERTY:

Juneteenth: A Jubilee of Freedom (Andy Craig, June 19, 2020, Cato)


Aside from its anti‐​slavery origins, the popular adoption of Juneteenth over other possible dates serves as an example of culture and tradition arising organically rather than from official recognition, which only began in recent years. Today, forty‐​nine states (all except Hawaii) have made some form of official recognition for Juneteenth and there is a movement urging Congress to adopt it as an official national holiday. [Juneteenth became a federal holiday on June 17, 2021.] That would be fitting.

It might be a symbolic gesture but symbolism matters. The abolition of slavery and the suffering and contributions of black Americans deserve a prominent place in our national narrative. The festive, celebrative spirit of Juneteenth is particularly appropriate for this. The triumph of hope over adversity and liberty over slavery is very much worth celebrating.

DEMOCRACY OF THE UNBORN:

Book Review: “The Conservative Futurist” by James Pethokoukis: A Visionary Journey toward Tomorrow (Brent Orrell, June 17, 2024, AEI)

To some, “conservative futurism” will ring oxymoronic; but the future Pethokoukis is eager—“faster, please” —to usher in is conservative in the sense that it seeks to respect individual liberty and the free market and, following Burke’s vision of society as a “multigenerational partnership,” extend our moral and social concern concern to our children and grandchildren.

Resisting the stereotype that conservatism is inherently backward-looking or resistant to change, Pethokoukis’ conservatism centers individual liberty in the quest for progress. His project has much in common with Hayek’s, especially in the latter’s memorable essays “The Use of Knowledge in Society” and, ironically, “Why I Am Not a Conservative” (the meaning of the term has evolved: what Pethokoukis seeks to conserve is not natural hierarchies and the status quo, but classical liberalism, which increasingly finds itself under threat).

STOP EXPLOITING THE DISORDERED:

German Study: Vast Majority of People Will Grow Out of Transgenderism Within 5 Years (Ben Johnson, 6/16/24, Daily Signal)

A massive, yearslong study shows the overwhelming majority of young people who identify as transgender will grow out of the diagnosis within five years.

A similar supermajority of trans-identifying people suffered from at least one other psychological condition, found researchers, who tracked all children and young adults diagnosed with gender dysphoria over a nine-year period.

It’s ideology, not medicine.

IT’S A PURITAN NATION:

UNIVERSAL DARKNESS: On the definition of film noir. (Stanley Fish, 6/10/24, The Lamp)


Next year I shall be teaching a course in film noir for the first time, and I thought it might be useful to set down my thoughts about the genre. Definitions and lists of characteristics are not hard to come by. Many websites will tell you that film noir movies were shot in sharply contrasting black and white, made liberal use of flashbacks, and flourished between 1940 and 1958 with a number of “neo-noir” films, some in color, appearing even to the present day; that film noir heroes or anti-heroes are cynical, world-weary, bitter, and vulnerable to the seductive wiles of sensual and duplicitous women; that these men and women play out their doomed lives in a landscape of corruption, betrayals, double crosses, and plans gone awry; that everyone and everything in the film noir universe is at the mercy of chance, accident, and a general, even miasmic, malevolence; that these movies were especially appealing in the context of the pessimism generated by World War II and a post-war malaise brilliantly documented in a film that is not noir but has noir touches, William Wyler’s masterpiece The Best Years of Our Lives (1946).

But for my money, this list of noir elements casts too wide a net. As far as I am concerned, it’s not noir unless at its center is a moment when a line is crossed and someone, almost always a man, starts on a path that leads inevitably not only to his own destruction but to the destruction of everyone and everything he touches. It is tempting to speak of this moment as a choice, but it is better characterized as a slide, a slide from what had been a more or less ordinary existence to a toboggan ride down to hell with no hope of a reversal of motion. Edward G. Robinson’s Barton Keyes (Double Indemnity, 1944) puts it best when he says of the lovers-murderers he has not yet fully identified, “It’s not like taking a trolley-ride together where they can get off at different stops. They’re stuck with each other and they’ve got to ride all the way to the end and it’s a one-way trip and the last stop is the cemetery.”

The Hays Code gave us great art.

YOUR NEXT PLANE WILL BE A VOLT:

Electric Flying Taxis Are Quietly Sneaking Up on Us (STEVEN ASHLEY, 6/14/24, Scientific American)


When the electric air taxi revolution arrives, you probably won’t it hear coming. A remarkable feature of an electric vertical takeoff and landing (eVTOL) aircraft is how quietly it flies, scarcely noticeable amid typical city traffic sounds. Unlike a helicopter, there’s no pounding, 90-decibel “thwop, thwop, thwop.” In contrast, eVTOL aircraft use multiple small propellers that spin half as fast as a chopper’s rotor—avoiding the annoying, low-frequency sound pulses created by the big whirling blades.

Electric motors, which are quieter than helicopters’ turbine engines, also help keep any racket to a minimum. “The latest air taxi designs, such as those from leading builders like Joby and Archer, deliver a 20- to 25-decibel reduction in noise levels compared to helicopters,” says Mark Moore, the trailblazing engineer who led the development of NASA’s X-57 Maxwell electric airplane. That means that eVTOLs could be four or five times less noisy to nearby listeners. Beyond offering quieter flights, these new machines should also be significantly safer, greener and cheaper to fly than helicopters. Moore maintains that electric air taxis are uniquely suited for what the aviation industry calls urban air mobility (UAM) services, enabling normally gridlocked travelers to “take advantage of the third dimension to escape the ant trails on the ground.”

More than two dozen major eVTOL builders have been founded in the past decade, and a few are nearing commercial certification from the U.S. Federal Aviation Administration or its European counterpart, the European Union Aviation Safety Agency (EASA).

The future always happens faster than you expect it to.