Gongol.com Archives: January 2016

Brian Gongol

January 5, 2016

Threats and Hazards North Korea claims a successful nuclear test

The world situation calls for seriousness. Anyone who continues to entertain the idea of voting for one of the unqualified nuts (from either party) should pay attention and straighten up. South Korea is worried, Japan is on edge, and the United States is the boogeyman for the Communist dictatorship. The real trouble is not so much the actual weapon (and whether or not it actually works) so much as the massive signal that the regime in Pyongyang intends to behave erratically and disruptively. Predictable opponents can lead to tension but at least remain stable. Unpredictable and irrational behavior is quite another thing. North Korea isn't just threatening Western notions of security with this test, it's also slapping China in the face.

Business and Finance Minimum wage in Nebraska goes to $9 an hour

The minimum wage probably should track along with inflation (like the cost-of-living adjustments applied to many other things, including government employee pay and many entitlement benefits). But the minimum wage is a terrible tool for alleviating poverty. It's poorly targeted and it quite likely creates not only additional unemployment but also a serious hidden cost. That hidden cost is in the form of a deficit of opportunities for young workers to get starting jobs. The longer we artificially obstruct young people from entering the labor market, the longer it takes for them to start accumulating the work experience and soft skills that permit them to rise up the economic ladder later on. It's a hidden cost -- but yet it's not. Any place that has relatively high youth unemployment is also likely to have relatively high rates of trouble with mischief and even crime among those young people. Put plainly, teenagers and young adults need productive things to do and a clear trajectory towards a rising standard of living. Those needs can be satisfied in a number of ways, including enrichment education, extracurricular activities like sports, volunteerism, and organized clubs. But there are plenty of young people for whom a job is just the right thing. It's conceited and myopic to think otherwise. While everyone is responsible for their own decisions and nobody has a right to pursue crime and chaos, a society has only itself to blame if it fails to provide adequate opportunities for young people to have something productive to do -- and then suffers any number of ills from truancy to rioting as a result. Most people are, by nature, good -- but they also need sufficient opportunities to be good. Anything that puts up artificial roadblocks to those opportunities (like the ridiculous notion that the minimum wage should be nearly doubled to $15 an hour) is an exercise in economic and sociological illiteracy.

News Chinese government intervenes to prop up injured stock market

Why they would try it in the short run is easy to see. That it's a really dangerous thing to try (and, if it continues, could make things much worse in the long run) should be equally obvious. Someone needs to introduce them to the economic concept of marginality -- much of the behavior we're seeing suggests that it's not understood.

Computers and the Internet Might Twitter actually raise or eliminate its character limit?

Art is in the constraints. Take away the 140-character constraint, and Twitter may very well find itself consigned to the trash heap of history.

Threats and Hazards "Forced disappearance" of book publishers in China

The longer this kind of thing goes on, the more obvious it becomes that the people trying to command the Chinese economy miss a fundamental point: Starting from a low base, an economy can gain a lot by industrialization. But its long-term growth will be capped severely if people are not free to think for themselves -- politically, economically, technologically, socially, or otherwise. Freedom of thought doesn't really know boundaries, and if people fear that they may "disappear" for publishing the wrong content, then they plainly do not have freedom.