Tag Archives: Crony capitalism

Google Fined Billions By EU For Breaking Competition Law

Ariel Ezrachi, director of the University of Oxford Centre for Competition Law and Policy, says “it objects to Google leveraging its power in search to give itself an unfair advantage in price comparison.” That’s one in the eye for Silicon Valley’s “winner takes all” attitude. Google are well equipped to handle a fine though, even one that sounds so hefty. Alphabet, Google’s parent company, made a profit of almost £2 billion in the first six weeks of 2017 alone.

So, it sounds like that fine is just a drop in their considerably large ocean. But it’s still hard to imagine such a huge amount. Which got us thinking. If the average Joe were to be fined in a relative way, what would that look like? Maybe something like this infographic from credit.angel.co.uk.  Much easier to understand (and far less than I imagined to be honest!) For the Silo, Danielle Mowbray.

 

A Cautionary Tale Of Picking Winners

Think twice before picking. image courtesy of www.weddingunveils.com

It’s dangerous to pick winners. Everyone knows that and yet it’s difficult to not put your stamp, your intuition and your ego into choosing a winner. Heck, some folks even make a decent living out of it. They’re called critics and advertising executives and sometimes they’re known as a marketing committee.

But just for a moment let’s consider what it means to be in a position of influence- your very thoughts and words will ripple out and possibly affect opinion, access to resources and ultimately success or failure. Choosing winners should be done with the utmost caution. (Does anyone remember Dewey defeats Truman? Okay that is a bit obscure….what about the story of The Beatles being rejected by the first batch of record labels they approached? “Sorry, Lads- You’ll never make it in the music industry”).  This holds true for social media and the internet- no one and I repeat NO ONE should be promulgating  ‘accepted and preferred methods of blogging, tweeting, linking et al. After all, censorship is just another form of propaganda and that’s bad right?

The internet is perhaps the last true vestige of individuality, of a digital ‘Wild, Wild West’, of a digital ‘Gold Rush’. Choosing winners is not always a bad idea if it’s done without malintent. It’s a great form of entertainment (Dave’s Top10 list) and conversation and debate (Top 10 universities in Canada) but when a list is garnered based on subjective criteria (“Sorry, Lads- You’ll never make it in the music industry”)- one must question the motivation and prevent ‘cronyism’.

Silo Reader Says All Products And Services Should Compete In A “Free Market”

Letters to the Silo

The [ image that is shown with Toby Barrett’s recent letter ] is certainly worth a thousand words. Government is consuming too much.

But why do we continue to feed government? Why would we participate in any political or economic system that is not serving our best interests?

Government is basically unproductive and can only give what it takes. Bigger government takes more and gives less.

The fruits of our labour are controlled, confiscated, and redistributed through taxation, inflation, interest, and government spending. There is also a systemic shortage of official currency, which leads to a shortage of paid employment, and the jobs that are available might be completely unproductive. We are forced to compete for currency that is systemically scarce, even though there are plenty of worthwhile activities that can be done and there are plenty of people who are willing and able to do productive work.

There seems to be an increasing level of dissatisfaction with government and the political process, but there certainly isn’t a consensus in defining the problem or offering a solution that will sufficiently address all of our concerns or satisfy everyone. This poses a challenge, but it also presents us with an opportunity to carefully examine the form and function of government, and explore a full range of possible alternatives.

If we have freedom of choice and a free market then we should be able to individually select the goods and services that we wish to purchase from a variety of producers and providers, who should be able to compete for customers based on the quality and price of their products and services. All products and services, including government programs and services, should be able to compete in a free market.

Trade and exchange should be voluntary and mutually beneficial. We should not be forced to pay for anything that we don’t want or don’t use, and we should not have to do business with anyone who consistently offers poor quality goods and services or who does not pay their legitimate debts.

If we have economic freedom then we should be able to negotiate agreeable prices, accept or refuse any form of payment, control the allocation of our credit, and use any method or medium of exchange. We should not be compelled to use a systemically scarce currency that is created as interest-bearing debt.

If the purpose of an economic system is to facilitate the production and exchange of goods and services then it should be possible to create numerous ways to serve this purpose, with various concurrent systems operating in any location. This would give us more control over our time, labour, skills, and resources.

If government is a provider of services then it should compete for customers based on the quality and price of any services that it is actually willing and able to provide, including education, health care, and defence. If government services were the best ones available then we would presumably choose to use them. Our wealth should not be confiscated and redistributed to pay for anything that we don’t want or don’t use.

We can already seek membership in various communities, organizations or other groups, based on our own political, religious, social, recreational, or business interests. If we have freedom of association and political freedom then we should even be able to choose a apolitical system and type of government, without having to move to a different place, and without imposing or choice on anyone else. This would give us the option to hire people to manage our affairs and make decisions on our behalf, but we would not be represented or lead without imposing our consent.

Crony Capitalism Warren Buffett

Any imposed political system or government is a method of control. Political freedom does not exist if an individual is forced to accept the decisions of any other individual or group, even if it calls itself a majority.

Imposed political systems and territorial governments with their restrictive geopolitical boundaries can be replaced with a variety of voluntary communities, mutual benefit associations, and autonomous protective groups, with overlapping membership in any location. Multiple communities can exist in any geographic region, without any imposed territorial monopolies for the provision of services.

Individual participation in any economic or political system should be entirely voluntary, based on choice and consent, rather than coercion and compulsion. No person is an island, but everyone should essentially be able to individually decide how he or she would like to organize and manage his or her economic and political activities.

Government is a human invention that has changed over time and will continue to change, but the direction of this change will be determined by the way we think and the choices we make.

Diverse methods and arrangements can co-exist simultaneously in any location to facilitate the production, provision, distribution, and exchange of goods and services, for the mutual benefit of all voluntary participants, at their own risk and expense. James Clayton

Note- boldfacing was not indicated in the original submitted letter to the Silo.

Wagon Wheel Corn Maze