Smart Links 27 April 2012

Paul Summerville • April 26, 2012

Tags: Canada, Energy, Space, Sweden, The Fed, United Kingdom, United States, Voices, Yes

Commentary on Sweden’s resurrection, Paul Krugman on the Fed’s shortcomings, did exploding stars impact life on earth, the prospect of energy independence USA, on a great British tradition (insults), and accidental shredding.

Shocking to discover that a strong economy and social justice are two sides of the same coin, so says Sweden.

Washington Post -- Five economic lessons from Sweden, the rock star of the recovery
Almost every developed nation in the world was walloped by the financial crisis, their economies paralyzed, their prospects for the future muddied.

Related. (ed’s note – the message confuses socialism with liberalism the latter which believes in giving a hand up not a hand out). Thanks to Pat of Victoria.

youtube -- Reagan Vs. Obama - Social Economics 101

“Ben, you can do more.”

New York Times -- Earth to Ben Bernanke
Chairman Bernanke Should Listen to Professor Bernanke.

Meanwhile back in space.

Royal Astronomical Society -- Did exploding stars help life on Earth to thrive?
Research by a Danish physicist suggests that the explosion of massive stars – supernovae – near the Solar System has strongly influenced the development of life.

What if the US becomes self-sufficient in oil?

Financial Times -- Dollar will win from shift in petro-balance
This year the US shale gas revolution has gained increasing prominence. But what matters for currency markets is the boom that is likely to accompany the expansion in shale, namely “tight” oil.

Isn’t the British sense of humour wonderful? (ed's note -- unless it's aimed at you).

New Yorker -- Fatty Fatty Toad-Boy: A Brief History of the English Insult
Ian Parker’s excellent, profanity-laden profile of the British comedian Armando Iannucci in the current issue (“Come the fuck in or fuck the fuck off”; “I heard there were sandwiches and I’m a fucker for cress”) has made me nostalgic for one of the great traditions of my homeland.

Insult worth remembering.

“He’s so dense light bends around him.”

It’s in there somewhere.

Winnipeg Free Press -- Prime minister's own department loses sports memorabilia, likely shredded
The prime minister's mail room has lost some historical documents on sports, music and politics — and the material appears to have been accidentally shredded.

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Twin Virtues: Inequality of Outcomes & Equality of Opportunity©

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Ultimately, the most successful societies find the balance between the twin virtues of inequality of outcomes and equality of opportunity.

The new politics must marry the twin virtues of unequal outcomes and equality of opportunity.

When too few get too much everybody ends up with less.

Can it be that striving for equality of opportunity however imperfect the process not only benefits the individual but also creates benefits for the society as a whole that are unintended but wonderful?

Economics must be a 'moral enterprise' as much as politics claims to be. Economic outcomes need to be framed in terms of right and wrong not just efficiency if only because these often align in surprising ways.

My vision of Canada is that any Canadian child from a family of limited circumstance can expect to have a chance at lifetime of unlimited opportunities.

Tax policy should be founded on the principle of generating steady tax revenues sufficient to maximise environmentally sustainable economic growth in order to fund fair government.

Public policy should be designed to decrease inequality before the law and increase equality of opportunity.

Capitalism is not the problem; the problem is what we do with capitalism.

Content is always more difficult to argue than conspiracy.

Let the state regulate and the market operate (most things).

Welfare strategies are best designed as a hand up not as a hand out.

Political debate should not be fact free fighting.

Explanation lasts longer than eloquence.

Always favour empowerment over dependency.

The most enduring public figures are embraced for the causes they fought for and not the concept of themselves they hoped others would remember them by.

Find your voice and don't be the echo of somebody else.