Have nothing to do with the [evil] things that people do, things that belong to the darkness. Instead, bring them out to the light... [For] when all things are brought out into the light, then their true nature is clearly revealed...

-Ephesians 5:11-13

Tag Archives: Innovation

Schumpeter’s Gale Blows Away Colt

This article was published by the McAlvany Intelligence Advisor on Wednesday, June 17, 2015:

Glock 17 9mmPara (erste Ausführung - Februar 1986)

Glock 17

 

Schumpeter’s Gale is the “process of industrial mutation that incessantly revolutionizes the economic structure from within, incessantly destroying the old one, incessantly creating a new one.” Often credited with first developing this first axiom of the free market, Austrian economist Joseph Schumpeter was merely expanding on Karl Marx’s hopeful prediction that capitalism would eventually destroy itself. Out of the ashes would rise communism.

Marx and Schumpeter were half right:

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Colt Gun Maker Declares Bankruptcy

This article first appeared online at TheNewAmerican.com on Tuesday, June 16, 2015:

Colt Defense, the once high-flying iconic manufacturer of the Colt .45 single action Army revolver known as the “Peacemaker” — the “gun that won the West” — and the 1911 semi-automatic pistol designed by John Moses Browning, ran out of airspeed and altitude on Sunday, and declared bankruptcy.

In his press release, Keith Maib, chief restructuring officer of Colt Defense, LLC, put the best face he could on a disaster that has been unfolding for years: 

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allup: Americans Say Federal Government Is Number One Problem

This article first appeared online at TheNewAmerican.com on Monday, April 20, 2105:

Income inequality and mortality in 282 metropo...

Income inequality and mortality in 282 metropolitan areas of the United States.

According to a recent Gallup poll, Americans have named the federal government as the most important U.S. problem for four months in a row, noting that “dissatisfaction with government is by no means a new issue,” having been at or near the top in its surveys for years.

None of this is new news to Emmanuel Saez, economics professor at the University of California, Berkeley, or to any of his co-authors in their study published by the National Bureau of Economic Research in early 2013.

That study summarized polls of more than 5,000 Americans about income inequality in the United States and what if anything should be done about it. They were fully expecting to discover that

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Internet Freedom to Disappear on Thursday

This article first appeared at The McAlvany Intelligence Advisor on Thursday, February 26, 2015:

Ronald Reagan wearing cowboy hat at Rancho del...

Ronald Reagan was right:

Government’s view of the economy could be summed up in a few short phrases: if it moves, tax it. If it keeps moving, regulate it. And if it stops moving, subsidize it.

Tom Wheeler, the current FCC Chairman, doesn’t think that’s funny. He thinks they are his marching orders. Encouraged by his boss, Wheeler is reaching for the biggest hammer in his toolbox to bludgeon the internet into submission and turn it into a utility. On Thursday Wheeler will

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FCC’s Net Neutrality Rules are ObamaCare for the Internet

This article first appeared at The McAlvany Intelligence Advisor on Friday, February 6, 2015:

If the real intentions behind the benign phrase “net neutrality” were truly exposed, the conversation would be very short. As Will Durant noted in his The Story of Philosophy:

“If you wish to converse with me,” said Voltaire, “define your terms.” How many debates would have been deflated into a paragraph if the disputants had dared to define their terms! This is the alpha and omega of logic, the heart and soul of it, that every important term in serious discourse shall be subjected to the strictest scrutiny and definition. It is difficult, and ruthlessly tests the mind; but once done it is half of any task.

Opponents in the freedom fight have for years used obfuscation and false front words to advance their cause, but none more effectively than its term “net neutrality.” How could anyone object to that?

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Obama’s FCC to Issue “Net Neutrality” Rules on Thursday

This article first appeared online at TheNewAmerican.com on Tuesday, February 3, 2015:

net neutrality world logo

Net Neutrality world logo

Following President Obama’s lead, FCC Chairman Tom Wheeler will announce new rules on Thursday changing Internet providers from “information services” to “telecommunications companies” in order to impose the president’s demand for “net neutrality” rules onto them.

The Federal Communications Commission regulates telecommunications companies with a heavy hand, but five previous attempts to force Internet providers into the net neutrality category have failed, having been met with stiff resistance, especially from the courts. Now, however, major players are forcing the issue for another try.

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Crude Oil Price Declines Reveal Who’s Swimming Naked

This article first appeared at The McAlvany Intelligence Advisor on Wednesday, December 3, 2014: 

Ali Al Naimi

Ali Al Naimi

One of the most famous homespun quotes Warren Buffett ever uttered is this: “Only when the tide goes out do you discover who’s been swimming naked.” With the decline in crude oil prices of nearly 50 percent since June, more and more people are finding themselves swimming naked, or they’re about to.

Consider the formerly invincible oil cartel, OPEC, which seems to be suffering from delusions of its former glory by taking on oil producers in America. Instead of cutting production in order to “stabilize” oil prices, the cartel, led by the aging big kahuna, Saudi Arabia, has decided to

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Fracking Boom and the Development of America’s Energy Resources

This article will appear as the cover story in the next issue of The New American print magazine:

Travis Wright’s first impressions of Williston, North Dakota, in January 2012 remain vivid. It was bitter cold and the Walmart parking lot was filled to overflowing with campers and RVs whose owners were using them as de facto homes while working in the oil fields. Once inside Walmart, Travis discovered pallets of goods blocking the aisles as the understaffed nighttime crew of stockers simply couldn’t keep up with demand. He quickly learned to do his shopping in the middle of the night when the lines were only 30 minutes long. He learned later that this Walmart in Williston was the highest-grossing one in North America. The local economy was booming to such an extent that even paying $17 an hour for entry-level jobs, store officials couldn’t find enough employees to work for that amount.

Travis — at 6′6″ and 280 pounds, his friends called him Big ‘Un — was also astonished to learn

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Robots Everywhere

This article first appeared at The McAlvany Intelligence Advisor on Friday, October 10, 2014:

First generation Roomba (Roomba is a trademark...

First generation Roomba (Roomba is a trademark of iRobot). (Photo credit: Wikipedia)

The next wave of technological robots is here. When the Roomba iRobot made its grand entrance a few years ago, it was considered clever but expensive. Now, however, it is taking a big bite out of the $12 billion annual vacuum cleaner business as its technology continues to improve and its prices come down. According to Roomba, there is

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Robotic Pizza Delivery, Banking, and Now Over-the-road Trucking

This article first appeared at TheNewAmerican.com on Thursday, October 9, 2014:

Mercedes-Benz HighPerformanceEngines

Last month, Mercedes-Benz unveiled its “Future Truck 2025,” an essentially driverless over-the-road tractor-trailer rig that the company expects will revolutionize the trucking industry within the next 10 years, if not sooner. While only a prototype, the company is investing millions in the concept expecting that inside the next decade driverless rigs will be commonplace not only in the United States but across the world.

The advantages are obvious:

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Federal Court Rules that the Bitcoin is Money

When the Securities and Exchange Commission (SEC) charged that Trendon Shavers, the founder of Bitcoin Savings and Trust (BTCST) was running a Ponzi scheme, Shavers challenged the agency by claiming that bitcoins didn’t fall under their definition of securities and so therefore he and his company were exempt from SEC rules. Federal Judge Amos Mazzant ruled otherwise, which was bad news for Shavers but good news for

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George Mitchell, the Father of Fracking, Dead at 94

With his determination and the ability to ignore naysayers, George Mitchell, the owner of a Fortune 500 company, Mitchell Energy & Development Company, poured himself and $6 million of his company’s money into the task of finding ways to access the natural gas he knew was underground of his property north of Houston, Texas. It took him more than 10 years to find those ways. Since 2000, his discoveries have changed the world and are responsible for

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Unanimous Supreme Court Ruling on Human Genes is a Split Decision

On Thursday the Supreme Court ruled unanimously that patents on human genes are now void, while the successful creation of synthetic genes may continue to be patented. Both sides of the lawsuit celebrated victory. Mike Adams of Natural News exclaimed: “Sanity prevails: human genes are not eligible for patent protection!” while the ACLU declared: “Victory! Supreme Court Decides Our Genes Belong to Us!”

On the other hand, Myriad Genetics, Inc., the biotechnology company that holds dozens of patents on human genes, wrote:

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Another internet innovation: same-day delivery

I think this might just work. The biggest drawback to shopping online is the time it takes to receive the goods – between 3 and 7 days. I remember getting very nervous that an important gift I’d ordered for Mary for our 49th (!) wedding anniversary wouldn’t get here on time. I spent more time calling the store and worrying about it than I did in placing the order. It got here in time, just barely!

So Google is taking a page out of Amazon’s and eBay’s book and

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Good News About American Energy

Not all the news about our country is bad news. It might take some digging to find it but now and then there’s a nugget in the stream bed. This 211-page report from the Energy Information Administration is more than encouraging. The report is so long that 

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The Remarkable Technology of 3-Dimensional Printing

Sometimes it’s good to get back a ways from the trees in order to see the forest. I’ve written before about 3-D technology but only when talking about building guns at home and how the possibility drives liberals and gun haters crazy.

But USA Today has stepped away from those trees to bring the entire forest into much clearer focus:

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Another benefit to “going green”: higher taxes

I love this headline from Washington state’s The Olympian: “Innovation needed to solve gas tax problem“. Innovation my aunt Minnie! What they want is more taxes. It’s just another benefit from going green by buying fuel-efficient cars. The article puts it well:

As state lawmakers begin gathering in Olympia for Monday’s start to the 2013 legislative session, the never-ending quest for

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Conservative British Journalist William Rees-Mogg Dead at 84

With the passing of British writer The Right Honourable The Lord Rees-Mogg, a voice that for more than 60 years resonated in the freedom firmament was stilled.

Upon graduation from Oxford in 1951 (as president of Oxford Union), William Rees-Mogg began his journalism career at The Financial Times in 1952. He moved to the Sunday Times in 1960 where he

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Ronald Coase, a 102 Year Old Economist, is Still Brilliant!

 

English: Ronald Coase

Ronald Coase (Photo credit: Wikipedia)

Ronald Coase turns 102 this month, so  it’s time for him to launch a new project Man and the Economy.

According to Wikipedia, he is best known for an article he wrote two years before I was born [I turned 73 today], in 1937, entitled The Nature of the Firm, which rates its own entry at Wikipedia. He won the Nobel Prize in Economics in 1991.

He has been writing about property rights for decades and some of his thinking continues to influence modern organizational economics today.

In his current article, Coase criticizes modern economists who have allowed the field to be coopted into supporting the growth of the state. Listen to what he has to say:

This separation of economics from the working economy has severely damaged both the business community and the academic discipline. Since economics offers little in the way of practical insight, managers and entrepreneurs depend on their own business acumen, personal judgment, and rules of thumb in making decisions.

In times of crisis, when business leaders lose their self-confidence, they often look to political power to fill the void. Government is increasingly seen as the ultimate solution to tough economic problems, from innovation to employment.

Yup. There it is: government as the

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Double-Digit Unemployment May Be the New Normal

AMERICAN PROPAGANDA POSTERS: OBAMA JOBS

(Photo credit: printthetruth)

After parsing the unemployment report that was issued by the Bureau of Labor Statistics (BLS) on Friday, November 2nd, two scholars at the Heritage Foundation, Rea Hederman and James Sherk,  concluded that at the present jobs growth rate it could take another five years for a full jobs recovery to occur from the Great Recession. That would place the recovery after the next presidential election in 2016 and nearly ten years after the start of the recession in December 2007.

Noting that 125,000 new jobs must be created every month just to keep up with population growth, they turned to the “jobs calculator” offered at the website of the Federal Reserve Bank of Atlanta and asked it to determine how long it would take for job growth to return to normal, based on the average job growth over the past three months (170,000). The answer: the summer of 2017.

This assumption that future job growth would be maintained at that rate is laden with so many difficulties and subject to so many unknowns as to call the entire exercise into question. This is called “straight line thinking in a curvilinear world,” or, put another way, this assumes that the future will look like the past. It probably won’t.

For instance, there is the “fiscal cliff” and the great uncertainty about how the lame duck congress will deal with it, if they deal with it at all. Great speculation abounds about various scenarios but each concludes that

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Many of the articles on Light from the Right first appeared on either The New American or the McAlvany Intelligence Advisor.