A Capitalist Carol, Stave 5

The story so far: After meeting the first of Adam Smith’s heralded three messengers, the high-spending enthusiast for statism, Splurge, prepares for the second…

 

Awakening in the middle of a loud snore, Splurge felt that he was restored to consciousness for the especial purpose of conferring with the second messenger dispatched to him through Adam Smith’s intervention.

Consequently, when the bell struck One, he was not surprised to find himself enveloped in an eerie light, the source of which seemed to be in the adjoining room. He rose softly and shuffled to the door.

The moment Splurge’s hand was on the lock, a strange voice bade him enter. “Come in! And know me better, man!”

The spirit that introduced itself gave every appearance of one who had known better days. It had a weak, sickly pallor. “I am the Ghost of Freedom Present,” it explained. “Touch my robe!”

As Splurge did so, the room vanished instantly, and he found himself standing, in his night-gown, in the city streets. As before, there were people about, all wishing each other good-day. But many of the shops and ale-houses seemed to be closed and shuttered.

“It must be Christmas morning,” ventured Splurge, as he sought to explain the evident lack of commerce.

“It is,” said the spirit, “but that is not why all these enterprises are closed. He pointed: “This ale-house, for example, shut two months ago, unable to bear the cost of all the regulations – on planning, on its product, and the terms on which it employs its staff. Like thousands of others, it was driven out of business.”

“The young people you see,” it continued, “a million of them, are not in the street for exercise and enjoyment,” – Splurge wondered why anyone should think they might, given the coldness of the air and the light snow that was falling – “but because they have been driven out of work by the minimum wages that employers cannot afford to pay them.”

“Oh, no, spirit!” exclaimed Splurge. “These laws were meant to protect workers! To guarantee a fair deal to the poorest, to the young, to women, to minorities and the vulnerable.”

“…The very groups who employers stop hiring,” said the ghost, “when times are most difficult. As they are now. Thanks to you.”

“That was the bankers!” Splurge insisted.

“No!” replied the ghost. “It was the easy credit and loose money you created, in the attempt to create an economic boom. But it was a fake boom, which inevitably turned into a bust – a bust deep and damaging, for these wretched individuals and the businesses that, in a more liberal age, once sustained them.

“Spirit! I cannot endure these Austrian visions!” cried Splurge. “Do not torment me with the unintended consequences of my policies! Take me away from this place!”

“Touch my robe!” answered the ghost; and in an instant, the scene dissolved again.

A Capitalist Carol, Stave 5

The story so far: After meeting the first of Adam Smith’s heralded three messengers, the high-spending enthusiast for statism, Splurge, prepares for the second…

 

Awakening in the middle of a loud snore, Splurge felt that he was restored to consciousness for the especial purpose of conferring with the second messenger dispatched to him through Adam Smith’s intervention.

Consequently, when the bell struck One, he was not surprised to find himself enveloped in an eerie light, the source of which seemed to be in the adjoining room. He rose softly and shuffled to the door.

The moment Splurge’s hand was on the lock, a strange voice bade him enter. “Come in! And know me better, man!”

The spirit that introduced itself gave every appearance of one who had known better days. It had a weak, sickly pallor. “I am the Ghost of Freedom Present,” it explained. “Touch my robe!”

As Splurge did so, the room vanished instantly, and he found himself standing, in his night-gown, in the city streets. As before, there were people about, all wishing each other good-day. But many of the shops and ale-houses seemed to be closed and shuttered.

“It must be Christmas morning,” ventured Splurge, as he sought to explain the evident lack of commerce.

“It is,” said the spirit, “but that is not why all these enterprises are closed. He pointed: “This ale-house, for example, shut two months ago, unable to bear the cost of all the regulations – on planning, on its product, and the terms on which it employs its staff. Like thousands of others, it was driven out of business.”

“The young people you see,” it continued, “a million of them, are not in the street for exercise and enjoyment,” – Splurge wondered why anyone should think they might, given the coldness of the air and the light snow that was falling – “but because they have been driven out of work by the minimum wages that employers cannot afford to pay them.”

“Oh, no, spirit!” exclaimed Splurge. “These laws were meant to protect workers! To guarantee a fair deal to the poorest, to the young, to women, to minorities and the vulnerable.

“…The very groups who employers stop hiring,” said the ghost, “when times are most difficult. As they are now. Thanks to you.

“That was the bankers!” Splurge insisted.

“No!” replied the ghost. “It was the easy credit and loose money you created, in the attempt to create an economic boom. But it was a fake boom, which inevitably turned into a bust – a bust deep and damaging, for these wretched individuals and the businesses that, in a more liberal age, once sustained them.

“Spirit! I cannot endure these Austrian visions!” cried Splurge. “Do not torment me with the unintended consequences of my policies! Take me away from this place!”

“Touch my robe!” answered the ghost; and in an instant, the scene dissolved again.

The doctors are on the rampage again

We’ve a letter in the BMJ signed by some thousands of doctors over plain packaging of cigarettes:

The government is heading for an explosive new year showdown with doctors who fear it is in danger of giving cigarette companies a late Christmas present by pulling out of a major anti-tobacco initiative.

Nearly 4,000 health professionals, including the presidents of many of the leading royal colleges, have signed an open letter to the prime minister and the health secretary, published on Sunday on the British Medical Journal website, expressing alarm that plans to force cigarette manufacturers to sell their products in plain packs may not be introduced before the general election, as had been expected.

The number of doctors signing the letter – 3,728 – is five times greater than the number who recently signed an open letter supporting a ban on smoking in cars, a health initiative the government has confirmed it will introduce. The thousands of signatories underscore the strength of feeling about the issue within the medical community.

We’ve indicated here before our suspicion of the emergency with which this particular question is being addressed. The government says that it must follow EU rules about consultation, the doctors are saying damn that and do it now. But why now? Our suspicion is that they want it enacted into law before the evidence that it doesn’t actually work becomes more widely appreciated:

Australian Bureau of Statistics’ data show that there has been a secular decline in the chain volume of tobacco sales since the 1970s, but this began to go into reverse in the first year of plain packaging (see graph below). In three out four quarters in 2013, sales were higher than they had been in the last quarter before plain packaging was implemented. This unusual rise in tobacco sales only came to end in December 2013 when a large tax rise on tobacco (of 12.5 per cent) was implemented, thereby leading to a fall in the following quarter.

Screaming that we’ve a major problem that requires action is sometimes valid. Whether you think that plain packaging is such is up to you. But it does boggle the mind that so much effort is being given to the implementation of a policy that doesn’t actually achieve its predicted result. It’s rather like the similar public health campaign for minimum alcohol prices. They seem to have got the bit between their teeth and thus be completely incapable of seeing that they’re proposing something that is just a terribly stupid way to try and achieve that stated goal.

What really worries here is that we’re really quite sure that you’ve got to be reasonably bright to train as a doctor. So why is it that when it comes to these public health campaigns they all seem to have left their brains at home?

A Capitalist Carol, Stave 4

The story so far: The high-spending, big-government enthusiast Ed Splurge has been visited by the Ghost of Freedom Past…

 

Although they had but that moment left Splurge’s apartment behind them, they were now in the busy thoroughfares of a city. The noise was tumultuous, for there were adults, and more children there than Splurge in his agitated state of mind could count, all talking, singing, dancing, and generally enjoying what was obviously Christmas Day.

They continued, the ghost and Splurge, to a large house. They went across the hall, to a door at the back. In a melancholy room, lined with books sat an old man with a long white beard, quill in hand, writing earnestly, obviously unaware or unmoved by the joy and bustle going on outside.

“Why, it’s Charles Dickens!” cried Splurge. “I did my dissertation on him, and how he exposed the evils of the factory system!”

“Your eyes, and his,” said the spirit, “were clouded by bile and ignorance. “Before the Industrial Revolution, most people were condemned to life in abject poverty, destitute and starving, toiling outdoors in all weathers for an uncertain harvest. They thronged, willingly, to the factories exactly because of the security, income and opportunity that the towns afforded.”

“But the work was still harsh,” objected Splurge, “and the upper classes lived far, far better.”

“Bah!” replied the spirit. “The upper classes prospered by extracting favours and monopolies from the political authorities. Have you not heard that power corrupts?”

“The hours for those without political cronies,” it continued, “were long because this was yet a poor country – until production, exchange and investment made ordinary people rich.”

“Oh, spirit!” cried Splurge. “You mean the capitalist system I decried was the very salvation of these poor wretches?”

“Yes; and what gave them opportunity for self-improvement. Come!”

Suddenly they were at the door of a grand building, proudly declaiming itself “Institute of Education”. People – ordinary mill workers, Splurge surmised – crowded past them, each heading for rooms in which different activities were going on. In this, it was a concert in which they played string or brass instruments. In that, a lecture on Mr Darwin’s new theories. In another, a class teaching reading and writing to adults and children alike.

“Factory owners were fully aware of the benefits of a fulfilled and educated workforce,” explained the ghost, “and made these facilities available. And the workers themselves combined into friendly societies, to make provision for their own welfare needs, without needing the powerful – and corrupt – state that you deem so essential.”

“But you,” it scowled, “would have denied them that every opportunity, and condemned them to starvation on the land.”

“Oh spirit!” begged Splurge. “Take me from here. I can no longer bear these memories!”

He was conscious of being exhausted, and of being back in his own bedroom; and had barely time to reel into bed, before he sank into a heavy sleep.

Someone’s got a very dark sense of humour concerning Cuba

Much chuntering about the fact that Broadway musicals have returned to Cuba for the first time in 50 years. And whoever it was that put this package together they’ve a very, very, dark sense of humour:

In the play, the setting is New York: the East Village, in the early 1990s, with a bohemian, artistic crowd trying to make ends meet over Christmas.

In real life, the setting is Havana – with a disparate group of actors, trying to put on a musical, to show over the festive period.

Because for the first time in 50 years, a Broadway musical is transferring to the Communist island, and – in a case of life imitating art – a play whose first scene opens on Christmas Eve will raise its curtain on December 24. Rent will then open to entertain crowds of curious Cubans, most of whom will never in their lives have seen a musical on that scale.

“Getting permission to bring the show here was extremely challenging,” said Robert Nederlander Jr – producer of the show, and the third generation of a Broadway dynasty. “It took us well over a year to negotiate.”

Our best guess is that we should congratulate Mr. Nederlander on that sense of humour.

Rent is a story (loosely a story, a collection of songs loosely nailed to a story might be a better description) detailing the travails of various people of interesting sexuality, their struggles with being HIV positive, the threats of becoming so, and how they cannot find secure and decent housing.

To take this to an island that, until recently, would lock up in isolation camps those who were HIV positive, distinctly demonise those of interesting sexuality and where there hasn’t been decent or secure housing since the socialist revolution is, well, it is humorous, isn’t it?

Well done Mr. Nederlander, well done, our caps are raised in admiration. We are left wondering though who, other than you and ourselves, is going to get the joke.