On this day:
48 BC
Pompey the Great is assassinated on the orders of King Ptolemy of Egypt after landing in Egypt.
235
Pope Pontian resigns. He and Hippolytus, church leader of Rome, are exiled to the mines of Sardinia.
935
Saint Wenceslas is murdered by his brother, Boleslaus I of Bohemia.
995
Members of Slavník’s dynasty – Spytimír, Pobraslav, Pořej and Čáslav are murdered by Boleslaus’s son, Boleslaus II the Pious.
1066
William the Bastard (as he was known at the time) invades England beginning the Norman Conquest.
1787
The newly completed United States Constitution is voted on by the U.S. Congress to be sent to the state legislatures for approval.
1918
World War I: The Fifth Battle of Ypres begins.
1919
Race riots begin in Omaha, Nebraska, US.
1928
Sir Alexander Fleming notices a bacteria-killing mold growing in his laboratory, discovering what later became known as penicillin.
1939
Nazi Germany and the Soviet Union agree on a division of Poland after their invasion during World War II.
1971
The Parliament of the United Kingdom passes the Misuse of Drugs Act 1971 banning the medicinal use of cannabis.
2008
SpaceX launches the first-ever private spacecraft, the Falcon 1 into orbit
2009
The military junta leading Guinea, headed by Captain Moussa Dadis Camara, raped, killed and wounded protesters during a protest rally in a stadium called Stade du 28 Septembre.
Pompey the Great is assassinated on the orders of King Ptolemy of Egypt after landing in Egypt.
235
Pope Pontian resigns. He and Hippolytus, church leader of Rome, are exiled to the mines of Sardinia.
935
Saint Wenceslas is murdered by his brother, Boleslaus I of Bohemia.
995
Members of Slavník’s dynasty – Spytimír, Pobraslav, Pořej and Čáslav are murdered by Boleslaus’s son, Boleslaus II the Pious.
1066
William the Bastard (as he was known at the time) invades England beginning the Norman Conquest.
1787
The newly completed United States Constitution is voted on by the U.S. Congress to be sent to the state legislatures for approval.
1918
World War I: The Fifth Battle of Ypres begins.
1919
Race riots begin in Omaha, Nebraska, US.
1928
Sir Alexander Fleming notices a bacteria-killing mold growing in his laboratory, discovering what later became known as penicillin.
1939
Nazi Germany and the Soviet Union agree on a division of Poland after their invasion during World War II.
1971
The Parliament of the United Kingdom passes the Misuse of Drugs Act 1971 banning the medicinal use of cannabis.
2008
SpaceX launches the first-ever private spacecraft, the Falcon 1 into orbit
2009
The military junta leading Guinea, headed by Captain Moussa Dadis Camara, raped, killed and wounded protesters during a protest rally in a stadium called Stade du 28 Septembre.
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Half of the harm that is done in this world is due to people who want to feel important. They don't mean to do harm but the harm does not interest them. -T.S. Eliot, poet (26 Sep 1888-1965)
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Is violence against law officers a good position for a society to hold?
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Running back Jaylen Warren had a career-high 176 total yards.
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"Small groups with AI can do what only the biggest countries could do."--Gates. Does this imply that human constraint will be inadequate?
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Antonio Brown took a plea deal for the second-degree attempted murder charge. A plea deal?
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Major Space X launch this morning before 9.
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Taxation by Another Name
"Comparative advantage is not just a theory but a very important fact in the history of many nations. It has been more than a century since Great Britain produced enough food to feed its people. Britons have been able to get enough to eat only because the country has concentrated its efforts on producing those things in which it has had a comparative advantage, such as manufacturing, shipping, and financial services – and using the proceeds to buy food from other countries. British consumers ended up better fed and with more manufactured goods than if the country grew enough of its own food to feed itself."
This is Sowell, talking, indirectly, about protectionism. The argument against Trump's tariffs is that each country should pursue its own 'competitive advantage' and free trade will balance things out. Tariffs not only dsrupt this efficiency but also raises the price of imports and acts like an additional tax on the consumer whose very leadership has applied the tax. Governments love taxes in disguise.
"Comparative advantage is not just a theory but a very important fact in the history of many nations. It has been more than a century since Great Britain produced enough food to feed its people. Britons have been able to get enough to eat only because the country has concentrated its efforts on producing those things in which it has had a comparative advantage, such as manufacturing, shipping, and financial services – and using the proceeds to buy food from other countries. British consumers ended up better fed and with more manufactured goods than if the country grew enough of its own food to feed itself."
This is Sowell, talking, indirectly, about protectionism. The argument against Trump's tariffs is that each country should pursue its own 'competitive advantage' and free trade will balance things out. Tariffs not only dsrupt this efficiency but also raises the price of imports and acts like an additional tax on the consumer whose very leadership has applied the tax. Governments love taxes in disguise.
The anti-protectionist argument--which disturbs the anti-protectionists--is that losing control over the production of vital products puts the importing producer at risk of boycott by an enemy.
That changes the argument from economic apples to strategic oranges but the economic argument against tariffs is simply overwhelming.
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