Thank you for this. My take on it is what's commonly levelled at the police - you'd think they'd have better things to spend their time on. I had hoped seemingly perpetual disappointment with the Tories might be over, but not so. They should be exercised on the big and complex issues: reading the IEA's 'The Great Stagnation' and figuring out how to facilitate growth, how to build houses, and defend the population. Tinkering is not going to cut it.
Rationing to prevent individuals purchased “banned” products, banned in the sense that as recipients of State Welfare certain items such as cigarettes, alcohol could not be purchased would never work simply because, the food that is allowed is a tradeable product- I want a bottle of gin, but cannot buy because it is prohibited on my purchase card, but you can- so I swap your £20 bottle of gin for £25 worth of groceries. The cigarette ban will be just the same, I am old enough to purchase cigs, you are not, I buy the cigs, you refund me- never underestimate the market- if you prohibit it, they will buy it.
Dinna fash thee’sen lad - as we say in the true North, ie not Manchester. It won’t work. Here’s why: Adam Smith, Theory of moral sentiments:
“The man of system, on the contrary, is apt to be very wise in his own conceit; and is often so enamoured with the supposed beauty of his own ideal plan of government, that he considers himself as having no merit in the arrangement of any part of it, except in the contriving of it.
He seems to imagine that he can arrange the different members of a great society with as much ease as the hand arranges the different pieces upon a chess-board. He does not consider that the pieces upon the chess-board have no other principle of motion besides that which the hand impresses upon them; but that, in the great chess-board of human society, every single piece has a principle of motion of its own, altogether different from that which the legislature might chuse to impress upon it.”
I’ll tell you exactly what will happen. Welfare recipients will team up with friends, family members and buy the groceries they want, they in turn will buy booze and fags for their confederates. Most likely the criminal element will be involved. They will have booze and fags knocked off or smuggled to exchange for groceries - non-perishable, tinned, packed, long shelf-life stuff, veg, fruit. This they will sell to market traders at low price, or maybe they will have their own, market stalls.
Bastiat. Ce qu’on voit. Ce qu’on ne voit pas That which is seen; that which is not seen. The ruling mob particularly, consider only the immediate visible effects, but overlook less obvious consequences. Except in this case the consequences are obvious, but… there are none so blind as those who cannot see.
Thank you for this. My take on it is what's commonly levelled at the police - you'd think they'd have better things to spend their time on. I had hoped seemingly perpetual disappointment with the Tories might be over, but not so. They should be exercised on the big and complex issues: reading the IEA's 'The Great Stagnation' and figuring out how to facilitate growth, how to build houses, and defend the population. Tinkering is not going to cut it.
“I had hoped seemingly perpetual disappointment with the Tories might be over, but not so.”
Change. Spots. Leopard. Its. Doesn’t. Rearrange the words to make a well known phrase or saying.
Rationing to prevent individuals purchased “banned” products, banned in the sense that as recipients of State Welfare certain items such as cigarettes, alcohol could not be purchased would never work simply because, the food that is allowed is a tradeable product- I want a bottle of gin, but cannot buy because it is prohibited on my purchase card, but you can- so I swap your £20 bottle of gin for £25 worth of groceries. The cigarette ban will be just the same, I am old enough to purchase cigs, you are not, I buy the cigs, you refund me- never underestimate the market- if you prohibit it, they will buy it.
Another great article by Len.
I am not in a position to definitely judge your analysis, but OK let us suppose you are now the Chancellor so please
1. Set out your definite budget. etc proposals
2. Monitor the effects of your proposals and compare with the actual figures over the coming year(s)
3. Regularly publish the results.
Post theoretic analysis are important but taking responsibilities for actuals is much more difficult
Dinna fash thee’sen lad - as we say in the true North, ie not Manchester. It won’t work. Here’s why: Adam Smith, Theory of moral sentiments:
“The man of system, on the contrary, is apt to be very wise in his own conceit; and is often so enamoured with the supposed beauty of his own ideal plan of government, that he considers himself as having no merit in the arrangement of any part of it, except in the contriving of it.
He seems to imagine that he can arrange the different members of a great society with as much ease as the hand arranges the different pieces upon a chess-board. He does not consider that the pieces upon the chess-board have no other principle of motion besides that which the hand impresses upon them; but that, in the great chess-board of human society, every single piece has a principle of motion of its own, altogether different from that which the legislature might chuse to impress upon it.”
I’ll tell you exactly what will happen. Welfare recipients will team up with friends, family members and buy the groceries they want, they in turn will buy booze and fags for their confederates. Most likely the criminal element will be involved. They will have booze and fags knocked off or smuggled to exchange for groceries - non-perishable, tinned, packed, long shelf-life stuff, veg, fruit. This they will sell to market traders at low price, or maybe they will have their own, market stalls.
Bastiat. Ce qu’on voit. Ce qu’on ne voit pas That which is seen; that which is not seen. The ruling mob particularly, consider only the immediate visible effects, but overlook less obvious consequences. Except in this case the consequences are obvious, but… there are none so blind as those who cannot see.