Wednesday, May 15, 2019

China and Capitalism

Some people are so heavenly minded, they are no earthly good.--Oliver Wendell Holmes

I am takng a day off tomorrow to go to a creative writing conference. I must be nuts.


One of the interesting things in Washington is the failure of Trump's nominating process for judges. These judges would have a tremendous impact on the infrastructure of the legal landscape--liberal or conservative --and would be simple, they are just to be confirmed by the Senate with Trump's majority. Two years into his administration he hasn't done it. I really think there is no real philosophy there; I don't think the guy cares.


The German captain of a migrant rescue ship was fined 10,000 euros ($11,240) by a Maltese court on Tuesday, after being found guilty of entering national waters 11 months ago without proper registration. The MV Lifeline vessel was impounded by transport authorities on the Mediterranean island of Malta in June 2018 after disembarking 234 migrants it had rescued off Libya. The skipper, Claus Peter Reisch, was subsequently charged with operating a ship that was not registered for rescue operations.

“Game of Thrones” showrunners David Benioff and D.B. Weiss are working on the new “Star Wars” film expected in theaters in December 2022.

Camille Paglia, a professor at Philadelphia’s University of the Arts,  proposed to give a talk titled “Ambiguous Images: Sexual Duality and Sexual Multiplicity in Western Art.” According to a letter released by two student activists, “a gender non-binary creative writing major” had “brought this lecture to the student body’s attention through social media and raised their concerns to Title IX and other University administration about the school giving Camille a platform.” This led to a group of students demanding that Paglia (who self-identifies as transgender) be removed from the faculty “and replaced by a queer person of color.”  Paglia isn't enough of a minority!

The Library of Economics and Liberty is usually filled with the abstract but has a funny parable centering upon the old "Have Gun, Will Travel" TV show. Worth the readhttps://www.econlib.org/library/Columns/y2019/MurphyJSchulerCoase.html

The same press outlets which have been rightly critical of Trump for all of his stupidity, lying and meanness, have suddenly found him brilliant, true and benevolent when it comes to Venezuela. 

The American suicide rate is at a 50-year high.  In 2017, 44,193 committed suicide in the U.S. and 1,652 killed themselves in New York State.  In 2016, the City’s Health Department reported that 525 people committed suicide.  It reported that suicides increased to 37.5 percent in 2010 from 32.9 percent in 2005.

On this day in 1756, The Seven Years War, a global conflict known in America as the French and Indian War, officially began when England declared war on France. However, fighting and skirmishes between England and France had been going on in North America for years.

                                     China and Capitalism

China has more than 150,000 state-owned enterprises, accounting for 40 percent of industrial assets. However, Chinese state capitalism is not just, or even principally, about the number and size of such enterprises; it’s about the central role the Chinese Communist Party (CCP) plays in virtually all aspects of economic life. In fact, CCP officials are part of many Chinese companies “to make sure the company follows the law.”

In his classic 1967 book Modern Capitalism: The Changing Balance of Public and Private Power, Andrew Shonfield tried to make sense of the distinctly different flavors of capitalism that evolved in the post-war era: the German model, where large banks played a key role in allocating investment; the Italian model of public–private ownership of key industries; the French model of indicative planning; the Japanese model of state-led industrial policy; and the American and British models of largely free-market, laissez-faire capitalism, albeit leavened with a growing social-welfare state.











Chinese state capitalism is a system in which the purpose of firms — private and public — is to fulfill the goals of the Communist Party. And the CCP uses an array of tools to obtain that alignment: hard and soft power; carrots and sticks. One tool is turning a blind eye to, and in many cases actively instigating, intellectual-property theft from foreign organizations. Another is requiring most foreign firms to enter into joint ventures with Chinese firms as a condition of market access — an arrangement the Chinese call “exchanging market for technology.” On top of that, central and provincial governments provide hundreds of billions of dollars’ worth of subsidies to China’s domestic champions in industries that range from steel and auto parts to jet aircraft and semiconductors.








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