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Posts Tagged ‘Rent seeking’

This is How You Nudge The President Toward Crony Deals

Posted by M. C. on February 8, 2020

In the “you can’t make this stuff up” department. It is called rent seeking.

Hamilton was the original Big Government guy.

https://www.economicpolicyjournal.com/2020/02/this-is-how-you-nudge-president-toward.html

The National Association of Manufacturers has announced that Ivanka Trump will be the inaugural recipient of the association’s Alexander Hamilton Award.

“Ivanka Trump embodies the collaborative spirit and relentless drive needed to solve manufacturers’ most pressing challenge—the workforce crisis. Like no one in government has ever done, she has provided singular leadership and shown an unwavering commitment to modern manufacturing in America. The Alexander Hamilton Award honors leaders who have made exceptional contributions to growing manufacturing in the United States and to empowering more Americans with high-tech, high-paying modern manufacturing jobs,” said NAM President and CEO Jay Timmons. “For her work bringing together leaders of industry, government and academia to put in-demand careers within reach for all Americans, Ivanka stands out as the perfect choice for this award.”

From the NAM press release:

“As advances in technology and automation change the national economy, so too must the country’s education and job training systems change to prepare Americans for the emerging industries of the future, including advanced manufacturing,” said Advisor to the President Ivanka Trump. “America is home to the best workforce in the world, but the skills of today do not mirror those of tomorrow. I am committed to ensuring our workforce is equipped with the skills they need to seize the vast opportunities that lie ahead.”

In other words, she has no understanding with regard to how the economics of the labor market work. No Ivanka guidance is needed, the free markets can handle it. She is a playing technocratic role, to interfere with free markets, and the crony elite is happy to use her and abuse her, and “help” her with her shallow interventions.

And then we jump to this from Bloomberg:

Ivanka Trump, will deliver the keynote address at a Dubai summit next week and will meet with Mideast leaders, White House officials said.

Ivanka Trump will speak about opportunities for women in business at the Global Women’s Forum and a regional summit for the World Bank’s Women Entrepreneurs Finance Initiative in Dubai Feb. 14 to 17, the officials said. They said the leaders she’ll meet haven’t been finalized.

RW

Be seeing you

Rent-Seeking, The Progressive Agenda and Cash Transfers at ...

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Ten Reasons Why Governments Fail | Mises Wire

Posted by M. C. on November 25, 2018

https://mises.org/wire/ten-reasons-why-governments-fail

Here are ten reasons why:

I. Knowledge

Government policies suffer from the pretense of knowledge . In order to perform a successful market intervention, politicians need to know more than they can. Market knowledge is not centralized, systematic, organized and general, but dispersed, heterogeneous, specific, and individual. Different from a market economy where there are many operators and a constant process of trial and error, the correction of government errors is limited because the government is a monopoly. For the politician, to admit an error is often worse than sticking with a wrong decision – even against own insight.

II. Information Asymmetries

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