The New History of Capitalism Is Bunk

Source: Cafe Hayek.

Don Boudreaux made a point on his blog yesterday that I meant to share: “Because distinctive American innovation in the first half of the 19th century – the half of that century in which slavery still existed in some of the United States – was aimed at economizing on labor, this innovation is not explained by the availability of artificially cheap labor in the American south. Indeed, the bulk of the 19th-century American entrepreneurs who innovated – the bulk of the Americans who are truly responsible for driving forward American capitalism – were driven to do what they did by the unusual scarcity in America of labor relative to land and other natural resources. If American capitalism were rooted in slavery, nineteenth century innovation would not have been aimed at economizing on labor but, instead, at using labor more intensely.”

Details at the link.

Biden and Dems Are Set to Abolish the Suburbs

Source: National Review Online.

I have commented on President Obama’s Affirmatively Furthering Fair Housing (AFFH) act many times, often in the context of denouncing The Virginian Pilot’s support for regionalism in Hampton Roads. Cooperation among local governments is probably a good thing in many ways, but it can also become subversive, especially under the transactional influence of a central government that hand out monies.

Kurtz focuses in this piece mainly on the tax-and-spending consequences of AFFH, and its role in current political dramas, but to grasp the full implications of AFFH, it pays to follow the links to Kurtz’s early work on the act. Imagine being told you can’t live in an apartment you can afford, which is convenient to your job, and which you happen to like, because you have the wrong skin color. That’s one of the devils that live in the details of the AFFH act.