creative Society

by Adam Mitchell

Synopsis

                The Creative Society written by Lars Tvede is all about the importance and status of creativity around the world. Lars talks about creativity like it’s a resource more valuable than oil or any precious gem. The best part of creativity is that it has the potential to be a renewable resource. It’s almost like our world is a vehicle to Lars, and when it’s working it’s called progress, but every vehicle needs fuel. This fuel, of course, is creativity.

In The Creative Society Lars talks a lot about how creativity in western culture has become increasingly stagnant. He is nice enough to give western society credit for a lot of innovation that was spurred on by our creative culture. Then he moved on to condemning the fact that our society has been metaphorically shooting itself in the foot for the past few years, by punishing or deterring the once creative mindset our western culture had once held in such high regard. He even went as far as to explain just where we started to go wrong. He specifically pointed at things like overbearing taxes, the marginalization of the citizenry, over-regulation, debt, stagnation, unemployment and an overall feeling of pessimism in our society.

When drawing to the end of the book you get to see the light at the end of the tunnel. Lars basically starts to list of the problems like he did before, but this time he talks about the solutions. Some of these are as simply as tax reform to encourage entrepreneurship. Others are a little more complex to carry out, such as starting to rekindle the idea of creating something of your own, instead of just getting a random job and trying to climb the corporate ladder. This is especially important to teach our youth, as they are the ones who are most impressionable and have plenty of time to cultivate their ideas for the future. Another Key factor to keeping creativity alive is de-centralization. De-centralization allows for different ideas of how to do one thing, this leads to some ideas being better. These ideas can then be handed off to other nations through trade and then tweaked and possible improved. To put it simply centralization and isolationism kills creativity and doing the opposite helps it flourish.  Overall this was an extremely interesting book that deserves a good read. I’d especially suggest this book to people ages 16 to 22. There is nothing in this book a 16 year old should get confused about and holds valuable lessons for these possible up and coming entrepreneurs. Though I’m sure for those who are interested in the subject this will be a fun read no matter their age.

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 By Sydney M. Williams

Obama Statement on the Budget and SequestrationNero, allegedly, fiddled while Rome burned. Today we have a Commander in Chief who seems equally unhinged from reality. In a world fraught with Islamic terrorists and muscle-flexing autocratic nations, the enemy on which he is focused is climate change. On the Wednesday before Memorial Day, President Obama came to the Coast Guard Academy in New London, Connecticut to warn the newly graduated second lieutenants of the far-reaching consequences of climate change, and of man’s responsibility to halt its effects. Like the Norse King Canute who, after conquering Denmark, England and Norway, tried to hold back the waves, Mr. Obama went to Denver in 2008 and promised that his Presidency would bring the time “when the rise of the oceans began to slow.” Global warming is the yardstick he has used to define his Presidency.

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By Sydney M. Williams

The off-duty, undercover cop who watched while members of a bike gang hauled the driver out of an SUV on New York’s West Side Highway last year and beat him was asked why he did nothing. His response: “If I knew what was going to happen, I would not have gotten out of bed”.

The question currently being asked of candidates – knowing what we know now, would you have invaded Iraq in 2003? – does little to reveal the judgment, temperament or character of the one being asked. It serves no purpose, other than to fill the questioner with supercilious indignation, and to make the interrogate, no matter the response, look foolish.

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By Bohumir Zidek

From the 10th to the 12th of April, on the first really warm weekend of this spring in Central Europe, European Students for Liberty organized their 4th annual conference in Berlin.

This year’s schedule featured a lot of interesting names. Among them the MEP and self-described “Old Whig”, Daniel Hannan, the Danish journalist responsible for publishing of controversial Prophet Muhammad’s cartoons in 2005 and also a staunch defender of free speech, Flemming Rose, and the man who ended Orban’s two-thirds majority in Hungary, Zoltan Kesz.

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By John E. Charalambakis Ph.D., Managing Director

 

In a recent study by the McKinsey Institute total credit market debt in China is shown as the largest in the world, and that is only what we know of. The dangers are not limited just to China but are extended to the global financial system. In a world where financial institutions are interconnected and where credit flows create a maze, the overextension of credit in an economy endanger the global financial architecture with a hard landing that could quickly unravel the real economies due to the size of leverage that all leading countries have accumulated in the last 15 years.

 

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 “For the history of our race, and each individual’s experience, are sown thick with evidences that a truth is not hard to kill, and that a lie well told is immortal.”                                                                                                                                                                                                                               Mark Twain                                                                                                                                                                                                                                  “Advice to Youth,” 1882

Stock Market An old joke goes: “How can you tell when a politician is lying?” The answer: “When his lips are moving.” While that may not be universally true, lying and deceit have infested our culture to an extent we no longer expect the truth. Lying is not new, but it has become pervasive.

White lies have always been around; they have always been acceptable and, in fact, are critical to a smoothly-functioning society. What characterizes such lies is that they are told to make someone else feel good, with little or no harm inflicted. For example, when my wife shows off a new outfit it is in my interest to express admiration. In turn, she will say things to inflate my ego, while (I am sure) crossing her fingers behind her back. Lying begins early. I recall occasions when, as a child, lying was preferable to the spanking I would get for a broken window or letting goats into the garden. The 2009 film “The Invention of Lying” depicted what the world would be like without lying – intentionally blunt and cruel, with no religion and no fiction. →']);" class="more-link">Continue reading

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By Sydney M. Williams

Obama Statement on the Budget and SequestrationMr. Obama will be a relatively young man when he retires from the most powerful position on earth – the Presidency of the United States. He will be 55, just a year older than Bill Clinton was when he left office, and seven years younger than was George W. Bush. What will he do for an encore? Will he go back to Hawaii and paint, like Mr. Bush? Will he use his years in public service as a means to accumulate personal wealth, as Bill Clinton has done? Or will he use the Presidency of the U.S. as a stepping stone to become the leader of the world – free and not free?

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By John E. Charalambakis Ph.D., Managing Director 
Image by © Dreamstime

 

Over the course of the last two weeks, we have been observing a twist in the bond markets. Yields are rising and consequently bond prices dropping. More than $420 billion worth of paper wealth has been wiped out in the bond markets across the globe.

The rooster of negative yields and the trajectory of a negative equilibrium we started talking about three weeks ago (see http://blacksummitfg.com/2960 and http://blacksummitfg.com/2987) came crowing home, telling us that the mirage of deflation and secular stagnation may just be a propaganda.

On top of this, the reality of supply and demand for Treasuries and bonds in general (given the QE has deprived markets of good collateral) as well as the fact that bond buyers (and especially the primary dealers of the Fed) may be hearing the rooster of even higher deficits to finance an unsustainable situation, create an environment of financial purgatory as explained below.

The speed by which the bond market changed direction not only is rare but also indicative of the volatility that will continue characterizing the markets this year. German yields on two and five year notes were negative, assuring that investors who held those notes until maturity will lose money! This is the epitome of absurdity in an environment where placebo treatments are taken as scientific prescriptions that cure the financial cancer of debt overhang. The graphs below demonstrate the significant turnaround we have been observing in the bond markets and particularly in the German bunds (in terms of dropping prices and higher yields).

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Friedrich Hayekby Gregoire Canlorbe

The Austrian school of economic thought has returned to Europe after an American renaissance. French economist Pascal Salin represents a new generation of European “Austrians.” They are trying to explain to an audience that is still generally hostile to economic freedom that capitalism didn’t cause the recent crisis in the world economy. Grégoire Canlorbe sat down with Professor Salin to discuss Austrian business cycle theory (ABCT) and how to promote economic thinking to a skeptical public. 

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Image by © Sani Saidi

Image by © Sani Saidi

 

In occasion of Free Market Road Show Zagreb, Matt Kibbe was interviewed by the Croatian newspaper  Vecernji List – Croatia.

Matt Kibbe is one of the most influential advocates for minimal government and free markets and plays a very important role on Capitol Hill, lobbying for his powerful organization -FreedomWorks. He is a co-author of the Tea Party Manifest, a bestseller from 2010.

During his visit to Zagreb for the Free Market Road Show event, he talked about the Croatian economic system and tax reforms that should be implemented. Kibbe stated that he is not against all taxes, as he explained further – he is in favor of those taxes that would efficiently finance the basic functions of the state.

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