This is Not The Matrix: moral hazard

Showing posts with label moral hazard. Show all posts

Monday, August 4, 2008

Political Predators

Paul Gigot, head of the Wall Street Journal's editorial page, has written a hair-raising piece describing the government's attempts, for years, to silence the Journal regarding the Fannie/Freddie mess. You need to read it. See http://online.wsj.com/article/SB121677050160675397.html.

A history of the Journal's articles on the subject appears at http://online.wsj.com/article/SB121599777668249845.html?mod=rss_opinion_main

Why the Matrix?

Existence is not an imperfect shadow of some greater, unknowable reality. And you are not a brain in a vat controlled by a mad scientist who can manipulate your reality and cause a rock at the same time to be a chicken. We live in a world of objective facts. The physical world has an established nature. And so do human beings. This blog is dedicated to the nature of things in reality -- to human action in the physical context of the world as it exists.

No one can amend or repeal the iron law of cause and effect. Actions have consequences. Here we explore and shine the light of day on the actions and consequences in the economy and in the broader culture in North America and globally.

The movie, The Matrix, is an excellent illustration of how the brain-in-a-vat theory in philosophy works. It is a well-executed fantasy. But existence is real and objective and we must choose on our own as individuals to deal with it or not. Such is our nature.