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Gary Edwards

A truly American future - 1 views

www.wnd.com/...a-truly-american-future

Constitutional-Capitalism Crony-Capitalism

shared by Gary Edwards on 24 Jul 14 - No Cached
  • Ours has been a human experiment in which a constitutional republic was created that, aside from its moral and legal rightness, also created an environment in which entrepreneurs could flourish. The results of this experiment have been spectacular. Our lives and the lives of people throughout the world have been enriched by this experiment.
  • We are now in a very imperfect political battlefield, on which we are striving to save a constitutional republic by democratic means. Historically, our odds are poor. All democracies in history have ultimately failed. All have descended into mob rule. This is the reason our founders did not give us a democracy. We must be the exception.
  • At present, the situation is in doubt. Our president refuses to follow the rules of our constitutional republic; the self-interested cowardice of too many of our members of Congress prevents them from disciplining the president; and our courts are politicized as well. Moreover, many elements of our government are running amok, such as the Federal Reserve with its printing presses and the Environmental Protection Agency with its unending search for more power for itself. As Gilder shows in “Knowledge and Power,” the real advance of knowledge and power to improve human life depends upon a benign human society in which entrepreneurial advance can flourish. He explains this in political terms and in the scientific terms of information theory.
  • Gary Edwards on 24 Jul 14
     
    "As economist Julian Simon observed, people always produce more than they consume and always better the human condition of themselves and their neighbors - if they are free to do so. Why was Simon able to make this observation based on American experiences and other more brief episodes in human history? The answer to this question is elegantly described by George Gilder in his book "Knowledge and Power: The information Theory of Capitalism and How It is Revolutionizing Our World." Gilder teaches us about the "economics" of human advance. Establishment economics is, of course, a somewhat murky forest of "supply" and "demand" and "micros" and "macros" and all sorts of other abstractions. Within economics has arisen a sort of political contest as to whether "demand" or "supply" is most important. Does the market respond to "demands" for certain sorts of goods, or are goods unexpectedly "supplied" to the market by inventors and entrepreneurs - as surprises which then create market demand themselves? It is clear that the "supply" side trumps the "demand" side in this controversy. As George Gilder elucidates, potential advances - products and other goods - arise first in the minds of entrepreneurs who, using information, existing tools and skills in assembling and utilizing capital, bring these advances to the market. If the entrepreneur is right about the demand that will arise when his new product becomes available, he is rewarded with the fun of providing it and with profits. In order to do this, the entrepreneur needs a relatively quiet, noise-free environment, where the information comprising his innovation can express itself. His environment needs easily available capital in the hands of free men, so that he has rich opportunities to seek that capital and utilize it. The entrepreneur also needs a system of justice that protects his efforts and his coworkers. He needs a system of individual liberty where the
Gary Edwards

Jenkins: Obama vs. the 1980s - WSJ.com - 0 views

online.wsj.com/...3454504576490083559745242.html

Obammunism Banksters financial-collapse reagan-capitalism

shared by Gary Edwards on 06 Aug 11 - No Cached
  • "World Tax Reform: A Progress Report," his 1988 volume showed how country after country was following the U.S. in adopting Reagan-style rate-flattening and tax simplification.
  • Mr. Obama now craves a federal infrastructure bank, apparently still unable to see how growth might emerge except by bureaucrats bossing around tax dollars.
  • Simpson-Bowles Commission—proposed a Reagan-style tax reform
  • Gary Edwards on 06 Aug 11
     
    excerpt:  Instead of a "stimulus" to create jobs by financing useful investments that would have paid a growth dividend in the future, we got a debt-fueled permanent expansion of entitlements and the size of government. In health care, instead of reforms to encourage competent consumers not to treat health care as a free lunch, we got a doubling down on health-care free lunchism. In banking, instead of new incentives to cause creditors to pull in the reins on risk-taking banks, we got a formalization of too big to fail. All economic crises begin differently-this one began in housing-but eventually they morph into the same old crisis of forgetting what works. Think about the last big crisis of faith in American capitalism in the early 1980s. The panic was eventually crystallized in dueling Harvard Business Review articles by George Gilder and Charles Ferguson. Mr. Ferguson, an MIT-based consultant, argued the U.S was dooming itself to vassalage unless Washington brushed aside small, poorly-funded entrepreneurs and concentrated regulatory favors and subsidies on giant firms like IBM, AT&T, Digital Equipment and Kodak. Mr. Gilder championed the then-emerging Silicon Valley paradigm. He quoted technologist Carver Mead: "We depend on the innovations of the citizens of a free economy to keep ahead of the bureaucrats and the people who make a living on control and planning. In the long term, it's the element of surprise that gives us the edge over more controlled economies." Who won hardly needs to be belabored except that it apparently does need to be belabored. Almost everything Mr. Obama understands as pro-growth consists of bets on "bureaucrats and the people who make a living on control and planning."
Gary Edwards

Knowledge and Power: The Information Theory of Capitalism and How it is Revolutionizing our World: George Gilder: 9781621570271: Amazon.com: Books - 0 views

www.amazon.com/...ref=reg_hu-rd_dp_img

George-Gilder Knowledge-Power Capitalism Constitutional-Capitalism

shared by Gary Edwards on 31 Jul 13 - No Cached
  • Classical economics, whether in the Keynesian variety or the supply-side variety, builds models of economic systems from a mechanistic point of view. That is, it tries to build systems that interact with humans, but for which the human is not an integral part of the system.
  • Economics before Knowledge and Power had the equivalent of a Newtonian perspective: it was believed possible to construct a closed-system model that could predict behavior of humans interacting with the system and responding to incentives.
  • Past economic models have treated capitalism as an incentive system, but in reality capitalism is an information system
  • ...9 more annotations...
  • Further, in Knowledge and Power George Gilder applies a deep understanding of communication theory to economics.
  • Knowledge and Power shows that information and the human, and specifically the entrepreneur, are central to any economic model.
  • Economic systems, in an analogy to communication systems, can be divided into content and conduit; that is, divided into the information or knowledge (content) and the means for delivery (carrier or conduit).
  • An economy is a vast information system in which knowledge is distributed among its human actors. In capitalist systems, knowledge and power are together in the individual; in socialist systems knowledge still resides in individuals, but power is vested a hierarchy with no access to the knowledge.
  • The conduit is the transport mechanism; it has to be predictable and reliable for the most efficient transfer of content.
  • If the conduit is noisy, unreliable, or if its function varies with time, then its ability to transport content degrades.
  • For economic systems, conduit includes such things as stable currency, property rights, modest taxes, and rule of law. The content is the exchange of information and goods.
  • If the conduit elements of the system aren't reliable, predictable, and stable, then the flow information and goods is degraded or even perverted.
  • Valuable human intelligence (the ultimate resource) is diverted to compensate for or even to exploit noise in the conduit. People choose careers in currency trading, regulatory agencies, tax consulting, government, and law instead of science, engineering, and business and we are all poorer as a result.
Gary Edwards

Birth of an Internet independence movement | CIO - 0 views

www.cio.com/...net-independence-movement.html

internet

shared by Gary Edwards on 04 May 15 - No Cached
  • The arrogance and utter incongruity of declaring Internet and telephone networks equivalent has led a group of friends, all of them reluctant activists, to convene an effort to restore Internet independence. So far, the group of “Tech Innovators” includes John Perry Barlow, Mark Cuban, Tim Draper, Tom Evslin, Dave Farber, Charlie Giancarlo, George Gilder, John Gilmore, Brian Martin, Bob Metcalfe, Ray Ozzie, Jeff Pulver, Michael Robertson, Scott McNealy and Les Vadasz. Through this civic initiative, we hope to defend the remarkable success of the Internet and lead a conversation toward the future — not the past, where laws enacted under FDR must inevitably lead us. The open Internet rules from the FCC end the “permissionless innovation” they purport to protect by inviting the commission to regulate computer networks for the first time. The uncertain benefits and certain unintended consequences of the policy reversal expose the communicating public to unnecessary risk and threaten to upend the success of the past 20 years. The Tech Innovators believe that by recognizing “Internet Independence Day,” Congress can help initiate and advance bipartisan legislation to restore the private-sector framework responsible for of the success of the Internet.
  • Americans today enjoy a thousand-fold improvement from the 56Kbps dial-up modems that 15 million Internet early adopters relied on in the ’90s. The Internet now reaches 3 billion people, and a proliferation of services push communication options far beyond the long-distance phone call of 1995. The FCC plan to impose public utility Title II provisions ends the policies responsible for these accomplishments. Domains subject to telephone-style regulations suffer stagnation without exception. A routine 10Mbps connection available as a nonregulated information service prior to the Open Internet Order would have cost $10,000 per month as a Title II data service in 1995. The insertion of fiat regulatory powers will prove fatal to the entrepreneurial energies responsible for building what FCC Chairman Wheeler calls “the most powerful network in the history of mankind” — a network built beyond the reach of FCC regulatory jurisdiction.
  • The Open Internet Order invents artificial distinctions between content companies, Internet providers and end users for the purposes of regulation. This will lead to the same types of regulatory arbitrage and innovation-deadening consequences as prior distinctions such as “long distance” or “intra-lata.” History demonstrates that asserting artificial market distinctions for purposes of regulation always invites arbitrage and unintended consequences. Resources White Paper 802.11ac: Wireless The Easy Way White Paper Web Application Acceleration: Practical Implementations See All Go The commission obtains jurisdiction by changing the definition of “public switched network” to include networks with IP addresses. The complete transformation of a policy landscape represents a decision the Constitution grants exclusively to Congress.
  • ...1 more annotation...
  • The coming litigation leaves the Internet ecosystem in jeopardy without regard to the outcome. The preference for a congressional action addressing current conditions and issues relative to the prospects of an 80-year-old regulatory framework should not be controversial. The privatization of the Internet represented an experiment. Restoring Internet independence merely recognizes the remarkable success of the commercial Internet.
  • Gary Edwards on 04 May 15
     
    "The 20th anniversary of the privatization of the Internet deserves recognition by the U.S. Congress and celebration by all Americans as "Internet Independence Day." Two decades ago, on April 30, 1995, the Internet was privatized with the decommissioning of the NSFNET backbone. State of the CIO 2015 More than 500 top IT leaders responded to our online survey to help us gauge the state of the READ NOW The past two decades of Internet-driven success were set in motion with the passage of the High Performance Computing Act of 1991, championed by Sen. Al Gore and signed into law by President George H.W. Bush. That decision of the U.S. government to step back and privatize the Internet led to a thriving and open Internet that provides a remarkable platform for innovation. Ironically, the Federal Communication Commission's recently announced Open Internet Order reasserts government control over the Internet by the means of repurposing Depression-era industrial policy meant to address a monopoly in voice-transmission technology. The FCC went down the dangerous and uncertain legal path of reverting to traditional, utility-style regulation under Title II of the Communications Act of 1934."
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