Archive for 2010

CORRECTING MAUREEN DOWD: “If you’re going to worry that comments plant the wrong ideas in people’s heads, you should be more careful about the ideas you plant. Dowd took a Limbaugh phrase out of context. (Hey! Remember last month, when we were hyper-sensitive about the problem of taking quotes out of context?)” That was last month.

DANIEL HANNAN: The Internet is dragging Britain away from Europe and towards the Anglosphere.

The EU is being made redundant by technological change. In the 1950s, a regional trade association arguably made sense. But in a world where capital surges around the globe at the touch of a button, physical proximity becomes irrelevant. When deciding whether to invest in a country, corporations will consider many factors – tax rates, regulation, language, corruptibility of public officials – before they worry about geography.

The Internet makes it as easy for my constituents to do business with a company in New Zealand as with a company in Belgium. Easier, indeed, because the Kiwi company shares our common law, accountancy practices, commercial traditions and language. . . . The Internet, as Douglas Carswell argues, is ironing out a kink in our cultural and political alignment, whereby a small elite artificially reoriented our foreign policy, our trade and even our news cycle away from our old alliances and towards Europe. That’s the great thing about the web (or, from a Europhile perspective, the disagreeable thing): it democratises.

Shockingly, The Guardian contains expressions of unhappiness about this trend. But Jim Bennett, who popularized the term “Anglosphere,” emails: “Faster!”

MEGAN MCARDLE: More Reasons to Shun 401(k) Loans. “In general, the point at which you’re kiting debt–using home equity or the 401(k) to pay off credit cards or bad car loans–is the point at which you are in serious financial trouble. While transforming the debt to lower-interest rate forms can seem like salvation, it’s not the answer. For one thing, the lower interest rates come with greater risk–of losing the house or your retirement savings, rather than your credit rating. For another, it won’t work unless you get serious about controlling your money. I’ve watched colleagues do it (not at the Atlantic), and invariably after they refinanced the house, the credit card debt started to creep up again. Many financial counselors and personal finance gurus say the same thing.”

A BIRTHDAY GIFT FROM PAUL KRUGMAN: “At first glance, the column hardly seems like a gift: it’s long on nastiness, short on thoughtfulness, and misleading (all Krugman standards, sadly). But it offers such a poor defense of the Social Security status quo that I suspect readers will be more skeptical of the program after seeing the column, not less. Hence, Krugman’s gift.”

THEY TOLD ME IF I VOTED FOR JOHN MCCAIN, YOU’D HAVE TO SIGN A LOYALTY OATH TO WORK AT A UNIVERSITY. And they were right!

CHANGE: Illinois Fiscal Meltdown: A Continuing Series. “Even though Harris resigned in 2008, Park District officials confirmed that he was paid the remaining $185,120 left on his three-year contract. The district also gave him a sport utility vehicle while his compensation without the SUV in 2008 still totaled $339,302 for eight months on the job, officials said.”

LESSONS FROM an unlicensed barber. “The government licensing and regulation of barbers, like other hair stylists, is driven by the self-interest of the profession. Licenses restrict entry and reduce competition, enabling those with licenses to capture more rents. This is actually the case with most licensing regimes, even those that appear to serve a greater public interest than barber licenses.”

ODD TRAFFIC from Pandagon. There’s another kind?

ABOVE THE LAW: Dear Law Firms: Canceling Summer Programs After People Bid on Those Programs Is Bad Form. “In this market, interview slots are extremely valuable for law school students. There are not enough jobs to go around, and students know it. When they bid on your firm for an interview, that’s one less bid they have for some other firm. When you pull the rug out from under them this late in the process, you’ve essentially taken away one of their few chances to get a summer job. It might not matter to the law firm — they’ll get more than enough applicants for the summer positions they have — but for the individual student it’s a huge problem.”