Daily Topics - Friday June 4th 2010

Daily Topics - Friday June 4th 2010

Thom is "live" from the United Nations...in NYC

Senator Bernie Sanders is here "Brunch with Bernie" http//sanders.senate.gov

Comments

gerald's picture
gerald 5 years 8 weeks ago
#1

Monsanto is a terrorist corporation.

RandyWinn's picture
RandyWinn 5 years 8 weeks ago
#2

C4ss and Libertarianism in general have a small problem and a big problem.

The small problem is that they really aren't very good at economics. C4ss says that in a real stateless world, BP would not cause more damage than it could clean up because insurers and/or the threat of lawsuits would deter them. But this is simply false; it is economically rational to gamble more than you can afford to pay if you lose, if the potential payout is sufficient ... and "sufficient" has no relationship to the potential losses of your victims.

Hypothetical: you have zero net assets (real assets vs. debt) PLUS the opportunity to do X (what "X" may be doesn't matter; it could be flipping a coin or it could be drilling a well) which has a 50% chance of yielding you $1 Gazillion dollars, and a 50% chance of inflicting $2 Gazzillion of damage on your neighbors for which you would be liable. Do you take the chance?

Of course you do. If you lose the bet, you lose nothing because you can't pay off. The company folds, the executives go elsewhere. But if you win ah! you are fantastically wealthy.

Whenever I ask Libertarians about this hypothetical, they sputter something about how executives would never do that because it'd look bad on their resume. Apparantly they never heard of Carly Fiorina running HP into the ground and emergin' enough cred to run for Senator.

That's the small problem. The big problem is that humans don't follow *only* the laws of economics; there's a lot more going on. Running a society on Libertarianism is like running a car on gasoline but not lubricating it..

chuckle8's picture
chuckle8 5 years 8 weeks ago
#3

What is the difference between the economics of Libertarianism and laissez faire capitalism?

Thom has stated over and over, laissez faire capitalism has never worked.

chuckle8's picture
chuckle8 5 years 8 weeks ago
#4

What is the difference between the economics of Libertarianism and laissez faire capitalism?

Thom has stated over and over, laissez faire capitalism has never worked.

I always prefer the empirical over the theoretical (aka imaginary).

Galileo over Aristotle.

harry ashburn 5 years 8 weeks ago
#5

"You think this is hell..wait'll the Devil comes along in his speedboat!"

“Rebooting the American Dream.”

Thom Hartmann Here with an excerpt from my book “Rebooting the American Dream: 11 ways to rebuild our country.”
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My radio show has a mission statement. We don’t say it on the air, as it sounds a bit pompous, but it’s the metric against which we measure our work: Saving the world, by awakening one person at a time.

From Unequal Protection, 2nd Edition:
"Hartmann combines a remarkable piece of historical research with a brilliant literary style to tell the grand story of corporate corruption and its consequences for society with the force and readability of a great novel."
David C. Korten, author of When Corporations Rule the World and Agenda for A New Economy
From The Thom Hartmann Reader:
"Right through the worst of the Bush years and into the present, Thom Hartmann has been one of the very few voices constantly willing to tell the truth. Rank him up there with Jon Stewart, Bill Moyers, and Paul Krugman for having the sheer persistent courage of his convictions."
Bill McKibben, author of Eaarth
From Unequal Protection, 2nd Edition:
"Beneath the success and rise of American enterprise is an untold history that is antithetical to every value Americans hold dear. This is a seminal work, a godsend really, a clear message to every citizen about the need to reform our country, laws, and companies."
Paul Hawken, coauthor of Natural Capitalism and author of The Ecology of Commerce