Gongol.com Archives: July 2016

Brian Gongol

July 5, 2016

The United States of America How the financial markets responded to 1776

When the colonies that became the United States departed from British control, the bond and equity markets (such as they were) responded accordingly. Government bond yields rose (in other words, the British government had to pay more to borrow money) and the equity markets declined (reflecting concerns that the war would cramp the economy). An interesting question: On balance, is the world wealthier today than it would have been in a parallel universe where the United States remained under British control? Naturally, it's impossible to fully investigate a counter-factual like that, but it is possible to model some of the internal questions. Has there been more technological innovation because the United States won independence than if it hadn't? The answer there is probably yes: The United States seems to have been unusually fertile ground for innovation for many generations, probably due to a combination of legal, social, and economic motivations. One could also ask whether the presence of a giant free-trade bloc spanning the width of a continent has been fundamentally productive for world trade. Again, the answer is likely yes -- and it probably would not have formed had the United States remained under British control, because the Crown didn't have the same incentive to pursue territorial expansion (like the Louisiana Purchase) as did the independent Federal government in Washington. So, if one accepts the premise that economic growth and innovation for the United States has also been good for the global economy, then at least some of the big-picture questions suggest that July 4, 1776 was a good day for a lot of people outside the 13 colonies.

Threats and Hazards ISIS may have 3,000 girls and young women in slavery as sex objects

These are human beings who are suffering. They only differ from any of the rest of us by accident of birth. You don't get to pick where you are born -- and for most people, that's where you remain. Nothing but a sort of cosmic roll of the dice separates any one of us from having been in someone else's shoes.

Threats and Hazards More than 2,000 people have been shot in Chicago so far this year

That includes 66 over the Independence Day holiday weekend. That is completely out of control.

Threats and Hazards The anti-Semitism has to stop

It is alarming that a Presidential candidate who uses a social-media outlet like Twitter as his primary means of communicating with the public has repeatedly given virtual winks and nods to anti-Semitic participants in those same social-media forums. Free speech is everyone's right, but it's also appropriate to criticize. And it's doubly important to criticize those who thoughtlessly amplify inhumane messages by sharing them with a broader audience. Civilization depends on each generation's commitment to upholding the traditions of classical liberalism -- the ideals of the Enlightenment. It's a shame to see today's technologies being used to echo a mentality that would bring back the Dark Ages, and it's utterly alarming to see it being done by a major-party candidate for President.

Computers and the Internet BlackBerry is pulling the plug on "Classic" units

Goodbye to the tactile keyboard. That's really too bad -- on-screen keyboards just aren't as finger-friendly for a lot of people as the old tactile versions, and none of the smartphone makers seem to be filling that niche anymore, which is odd, considering the number of services like Facebook and Twitter that depend so heavily on people generating written content while on the move.

Computers and the Internet China is taking live-streaming to a whole new level

Tens of thousands of people live-stream what they're doing and even receive gifts from viewers as compensation

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