People often get social institutions confused, by confusing the role of markets, the role of government, and the role of private social institutions.
Capitalism:
Capitalism typically refers to an economic and social system in which the means of production (also known as capital) are privately controlled; labor, goods and capital are traded in a market; profits are distributed to owners or invested in new technologies and industries; and wages are paid to labor. (Wikipedia)
Statism:
A major government or state role in the direction of the economy, both directly through state-owned enterprises and indirectly …

The War on Drugs was started by President Nixon 40 years ago and a recent Op-Ed in the NY Times explains how it has failed.
Nicholas Kristof describes three ill-effects of the War on Drugs:
1. Increased incarceration.

The United States now incarcerates people at a rate nearly five times the world average. In part, that’s because the number of people in prison for drug offenses rose roughly from 41,000 in 1980 to 500,000 today. Until the war on drugs, our incarceration rate was roughly the same as that of other countries.
2. Increased …

I came across a presentation of Google’s new product, well its not quite out yet, and its not quite a product in the traditional sense of having to be bought. Regardless, this made me excited about the possibilities of the internet, which I think we as a society are only beginning to appreciate. I am spending time lately thinking about using wikis as collaboration tools for companies as well as microblogging. Check out the first 20 minutes and/or skip around for screen shots of Google Wave (minute …

I came across Ben Canocha’s blog (Link) via Marginal Revolution (Link) and was intrigued by Ben’s idea that, “the “you” that emerges on a personal blog represents a regression-to-the-mean synthesis, which may represent the most natural version of yourself.”
Interesting concept about personal and professional masks and the ability of a blog to encompass and bridge various masks. (Link to Ben’s Post ‘Most Natural “You” Emerges When Masks Collapse’)

I came across the linked ‘How To’ on ‘How to Recognize Bias in a Newspaper’ (See Link)
The steps include:
1) Take Notes
2) Research the Source
3) Look for Buzzwords
4) Is there something missing
5) Could the same article be re-written with a different slant
6) Are there labels applied by the author
Et Cetra
I am not sure we will all look as closely to our news as the How To suggests, but a little awareness of News Bias can only help us truth seekers find the truth.
Come across some good news bias lately. Post …

I can’t help but notice that Obama is being a bit ironic in his rhetoric surrounding the stimulus package. The NY Time Article (link) quoted Obama as stating “You didn’t send us to Washington because you were hoping for more of the same. You sent us there to change things.” He also warned that a failure to act “could turn a crisis into a catastrophe.”
Hmm, doesn’t this rhetoric seem familiar. Scare the electorate into thinking that no action will lead to a catastrophe and then make …

I just added two new quotes to my list of quotes (http://www.externalreflection.com/quotes/):
“It is no crime to be ignorant of economics, which is, after all, a specialized discipline and one that most people consider to be a ‘dismal science.’ But it is totally irresponsible to have a loud and vociferous opinion on economic subjects while remaining in this state of ignorance.” — Murray N. Rothbard
“The probability of the people in power being individuals who would dislike the possession and exercise of power is on a level with the probability that an …

The U.S. House of Representatives will be voting on the Renewable Portfolio Standard next week. What’s that you may ask, well its a standard set by the Federal Government that requires a certain amount of energy be derived from renewable sources. Sounds good to me. But wait how is this paid for, oh yeah that’s right, its a subsidy to renewable technologies, paid for by taxes.
Now don’t get me wrong I fully support renewable energy, but why should I pay for someone else’s moral preference. …