Recently HSBC, the British bank, was found by the Department of Homeland Security to have laundered vast amounts of money for drug cartels, terrorist organisations, and rogue states. One would expect a steep penalty for aiding and abetting such malevolent organisations. Consider Salim Hamdan, a man whose sole crime was to drive Osama bin Laden around for $200 a month, yet nonetheless ended up in prison from 2001 to 2009 and was subjected to “coercive interrogation” and “sexual humiliation”, whatever that means. Given the billions of dollars HSBC laundered for these kinds of groups, what Hamdan got should be a picnic in comparison, right? Well it turns out, not so right, as the Justice Department decided not to prosecute.
Tag: Economics
Concerning the nature of man and the economic system, and how best the latter can be structured to augment the former.
How to Stop Tax Avoidance
Recently, as countries have sought to shrink deficits, the question of tax avoidance has come up, and how to put a stop to it. In Britain, Google, Amazon, and Starbucks are being questioned by parliament as to why they pay such small amounts of tax on their UK incomes. Much of the public is in uproar over the fact that Google, Amazon, and Starbucks paid effective tax rates of 0.4%, 2.5%, and 0% on their respective 2011 earnings. All of this begs one very important question, one that no one seems to be attempting to answer seriously–what do we do about this? How do we stop it?
Universal Basic Income: Free Money
Today I had a lecture that introduced an interesting idea, one I think worth sharing and discussing–universal basic income (hereafter referred to as UBI). UBI is a radical alternative to the present welfare system existent in most western countries. In most societies, welfare is conditional on a demonstration of effort to gain employment–it has a work requirement. UBI proposes that the work requirement be scrapped and that welfare be provided to all citizens irrespective of need so that everyone has a sufficient standard of living such that employment becomes a life choice rather than a life requirement.
Why the Welfare State?
There’s a set of institutions that most western countries have that we collectively call “the welfare state” and, in the drive to shrink budget deficits, it has come under attack. But why do we have a welfare state in the first place? What is its function, and what are we putting at risk when we cut funding for it? That is today’s point of inquiry.
Libertarian Party Platform
Some of the reaction to yesterday’s post, “Intellectual Hipsters: Libertarians” made the argument that yes, libertarianism has many defects in its theoretical intellectual foundation, but that perhaps real world libertarians are not deriving their policies strictly from that foundation, or that the policies of the Libertarian Party in America remain useful for other, non-libertarian reasons. I agree that this is a proposition worth considering, and so this post exists as a companion piece to yesterday’s–examining libertarian policy in practise to go along with yesterdays’ examination of libertarian political theory.
Benjamin Studebaker 