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 4 years 24 weeks ago
#1

Monsanto is a terrorist corporation.

RandyWinn's picture
RandyWinn 4 years 24 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 4 years 24 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 4 years 24 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 4 years 24 weeks ago
#5

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

The other way we're subsidizing Walmart...

Most of us know how taxpayers subsidize Walmart's low wages with billions of dollars in Medicaid, food stamps, and other financial assistance for workers. But, did you know that we're also subsidizing the retail giant by paying the cost of their environmental destruction.

From Screwed:
"Once again, Thom Hartmann hits the bull’s eye with a much needed exposé of the so-called ‘free market.’ Anyone concerned about the future of our nation needs to read Screwed now."
Michael Toms, Founding President, New Dimensions World Broadcasting Network and author of A Time For Choices: Deep Dialogues for Deep Democracy
From The Thom Hartmann Reader:
"Through compelling personal stories, Hartmann presents a dramatic and deeply disturbing picture of humans as a profoundly troubled species. Hope lies in his inspiring vision of our enormous unrealized potential and his description of the path to its realization."
David Korten, author of Agenda for a New Economy, The Great Turning, and When Corporations Rule the World
From The Thom Hartmann Reader:
"In an age rife with media-inspired confusion and political cowardice, we yearn for a decent, caring, deeply human soul whose grasp of the problems confronting us provides a light by which we can make our way through the quagmire of lies, distortions, pandering, and hollow self-puffery that strips the American Dream of its promise. How lucky we are, then, to have access to the wit, wisdom, and willingness of Thom Hartmann, who shares with us here that very light, grown out of his own life experience."
Mike Farrell, actor, political activist, and author of Just Call Me Mike and Of Mule and Man