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Dec 20 2014
 by Bill B. May
ECONOMICS
 

OUTSOURCING

We All Outsource

Outsourcing has gotten a bad name yet we all do it.   How many people in America are totally self-sufficient without depending on someone else to provide a portion of their needs?   I think of the nut who lived in the backwoods of Idaho (the name escapes me) who sent bizarre letters to the world.   Perhaps he was mostly self-sufficient but I doubt he made the paper from scratch.  We all outsource.  It is what makes the world go round.  The book, I Pencil, illustrates that the simple item, a pencil, can hardly be duplicated by any single soul on earth.  We outsource the pencil because there are things we do better than others; building an entire pencil from scratch is not one of them.  So we do what we do best and trade with others for things they do best; even at that, no single person makes an entire pencil.  It is a cooperative effort that involves trade at every stage (outsourcing).  
Maybe we can't identify the advantage of a specific outsourcing, but it must exist or else we would do that step ourselves.   When we outsource a specific item to a foreign country, we may damage the job prospects of some individual(s) here but we save money for all the people in this country.  That event forces the displaced worker to find other employment but if he is paid more than his counterpart in, say, China then he must be worth more.  He only needs to find out how to take advantage of his higher worth.  Or perhaps he was overpaid in this country compared to his counterpart in China.  That is sad but in any job, one cannot expect to be paid more than he or she is worth.  If that person is paid more, then the employer is subsidizing that person which won't go on for long.   A producer can't lose money continuously on a product. 
The Freeman Institute has presented a series of articles that it calls, CLICHÉS OF PROGRESSIVISM, the current one, No. 36 is titled, “Outsourcing Is Bad for the Economy”.  In it, the author, Tyler Watts goes into substantial reasons why outsourcing is good and normal. 
 
 
DR. MAY'S SUGGESTED
 
READING
 

OBESITY

Obesity Ruled A ‘Disability’ By EU Court;

Cause Deemed Irrelevant

Europe’s highest court ruled obesity “can constitute a disability” under the European Union equality at work legislation, meaning that European employers must treat overweight workers as “disabled.”
Everyone is disabled.  I have a bad case of hayfever.   Who doesn't have some medical issue?   This is ridiculous.  It explains a lot about how government should never get into the charity business.  It can't make a logical reason why someone needs charity; it ends up everyone needs charity (welfare).   When charity is private, common sense people can make decisions as to who is deserving of help. 

SOLID WASTE

EPA Sets First National Standard For Coal

Waste

The Obama administration on Friday set the first national standards for waste generated from coal burned for electricity, treating it more like household garbage rather than a hazardous material.
Here we have bureaucrats running the country who have no firsthand knowledge of the tradeoffs of their regulations.  It is indeed true that industries may cause pollution that harms other parts of the population.  But how are we to decide what should be the remedy?   If we allow bureaucrats to do so, their job is guaranteed or made more powerful by tougher regulations.  They can build an empire without anyone being able to question their actions.  They are little kings and we all are subjects.  
How should this conflict be settled?   Government is needed (I wish there was another entity) to settle disputes of liberty:  The polluter vs. the polluted.  The best way is a court case in which peers of the people, both the industry and the citizens, look at all the evidence and settle on a compromise that is fair.  It won't make everyone happy but it will protect the interests of both parties.  If enough court cases get settled, then elected representatives of the people can write a law that embodies these court settlements so that not every case has to go to a jury.  The law gives general guidelines to the industry while telling the citizens what they should reasonably expect for a clean environment.  Bureaucrats have no place in this system.  Congress has simply evaded its responsibility by allowing bureaucrats to be the last word. 

CYBER WARFARE

Tech Experts Warn Of An Escalating Cyber

‘Arms Race’

Now that the first cyberwar is underway, the IT experts are taking a close look about the particulars. And with every war comes weaponry, and predictions that privacy technology must keep up with aggressive hackers. It’s a reality of the “knowledge economy” - where business and enterprise is fueled by data at lightening (sic) speed, and often personal data at that. But it’s complicated. Even the United Nations is laboring on a resolution to put before the General Assembly that calls upon nations to “respect and protect a global right to privacy.” Is it possible?
 
That would be the worst of answers:  To let the UN decide anything. 

ILLEGAL IMMIGRATION

Illegal Immigration Up, Deportations Down In

2014: DHS

The number of illegal immigrants crossing the border rose in 2014, while deportations dropped, according to new statistics Homeland Security released Friday in a pre-holiday data dump that signaled potential problems on both sides of the immigration enforcement equation.
 
Great job, Obama. 
 

NEWSBALANCE

We post many more articles than highlighted on this page.   Some are highly ranked but don't meet my notion of deserving special attention, perhaps because they were covered recently.   I invite you to peruse all the posted articles, or maybe just the liberal onesor the conservative ones
 
 
 
Bill B. May brings you a new book, The Caveman Explores Politics and Economics, explaining the intricacies of economics. Learn how politics and economics interact to negatively impact society. Politicians react to deficits by raising tax rates to cover spending. They also print money to supposedly boost the economy. Find out why these methods don't work and why opposite measures should be the course of action. Become an informed citizen and read this book.
Buy here. Available from all major ebook resellers.