Posts tagged with: Business/Finance

Blog author: ehilton
Wednesday, February 19, 2014
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The much-maligned 1%. Websites are devoted to getting them to spread their wealth. They are called self-pitying, greedy…just all-around bad folk.

Really?

In today’s Wall Street Journal, James Piereson says the 1% are actually hard-working people like the rest of us. They have jobs. They earn their money. Maybe they earn more money that most of us, but they do earn it; they aren’t trust fund babies or spoiled heirs. (more…)

In a new video from the Becket Fund for Religious Liberty, the Green Family, owners of the embattled retail chain, Hobby Lobby, discusses the religious foundation of their business and the threat the federal government now poses to those who share their beliefs.

“What’s at stake here is whether you’re able to keep your religious freedom when you open a family business,” says Lori Windham, Senior Council at The Becket Fund, “whether you can continue to live out your faith in the way that you live every aspect of your life.” (more…)

Watch as employees at a small Pennsylvania business learn about their new benefits under the Affordable Care Act.

Hobby Lobby, an arts and crafts retailer with 588 stores across the U.S. is involved in a federal lawsuit against the HHS mandate. Aided in their legal fight by The Becket Fund, Hobby Lobby wants people to know what is at stake in their fight against the federal government’s mandate that employers must include birth control, abortifacients and abortions in employee health care coverage. David Green, founder and CEO of Hobby Lobby has stated:

My family and I are encouraged that the U.S. Supreme Court has agreed to decide our case. This legal challenge has always remained about one thing and one thing only:  the right of our family businesses to live out our sincere and deeply held religious convictions as guaranteed by the law and the constitution. Business owners should not have to choose between violating their faith and violating the law.

In addition, the company has released this video:

RedistributionofWealthAre you a fan of redistribution? Do you think those with more money should willingly or unwillingly spread the wealth? Do you believe the government should step in and help with the redistribution process? Well, economist Donald Boudreaux has a few questions for you.

  • Do you teach your children to envy what other children have? Do you encourage your children to form gangs with their playmates to “redistribute” toys away from richer kids on the schoolyard toward kids not so rich? If not, what reason have you to suppose that envy and “redistribution” become acceptable when carried out on a large scale by government?

(more…)

250px-Bankruptcy_monopolyAaron M. Renn’s reflections on the implications of Detroit’s bankruptcy are worth reading, especially as relate to the DIA, a topic of some previous interest over the last year or so:

In the case of the DIA, the city owns the museum and the collection. Hence the question of whether or not art should be sold to satisfy debts. If it were typical separately chartered non-profit institution, this wouldn’t even be a question.

At this point, I’d suggest cities ought to be taking a hard look at whether they own assets like museums, zoos, etc. that should be spun off into a separate non-profit entity. Keep in mind, the tax dollars that support the institutions can continue flowing to it. But this does protect the assets in the event of a bankruptcy.

I think Renn’s advice is spot on, but I would also caution that Detroit’s experience might not be replicable elsewhere. As DIA director Graham Beal put it previously, the DIA’s dilemma is “singular and highly complicated.”

How many cities own art collections worth potentially billions of dollars? Not too many, I’d suspect. And just what would the motivation be for city governments to reduce assets that could be leveraged in bankruptcy negotiations? What is in the best interest of the institution may not be in the interests of the city government and pensioners.

The DIA might be something like Detroit’s “Get out of Bankruptcy Free” card. (Or if not “free,” then less scathed than otherwise. And that’s not counting the loss of cultural treasures, of course!) But even so it’s a card that can only be played once, and it’s a card that other cities might not have.

Blog author: jsunde
Tuesday, December 31, 2013
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????????????????????????????????????In a recent piece for the Wall Street Journal, Emory economics professor Paul H. Rubin makes an interesting argument about the way economists tend to over-elevate and/or misconstrue the role of competition in the flourishing of markets.

“Competition plays a supporting role,” he argues, but “cooperation makes markets thrive”:

The way we use the term competition instead of cooperation fosters anti-market bias. “Competition” carries a negative connotation because it implies winners and losers, and our minds naturally feel sympathy for the losers. But cooperation evokes a positive response: It’s a win-win situation with no losers. And in fact the word competition doesn’t depict market activity as aptly as the word cooperation. The “competitive economy” would be better described as the “cooperative economy.”

Consider the most basic economic unit, the transaction. A transaction is cooperative because both parties gain from a voluntary exchange. There is competition in markets, but it’s actually competition for the right to cooperate. Firms must compete for the privilege of selling to consumers—for the right to cooperate with consumers. Workers compete for the right to cooperate with employers. Competition matters because it ensures that the most efficient players will gain the right to cooperate on the best terms available. But competition plays a supporting role, while cooperation makes markets thrive. (more…)